We are always hearing in the media how the country is in debt and that many people are also in severe debt but most people think that they have their own debts under control.
I had a friend who himself had a number of credit cards and was very happy to use them, seemingly not phased that at some point in the future he would have to repay the money etc. He lived for today and was determined not to miss out on any holiday or night out. I was confused at how he could afford all of the things he bought as I was aware of how much he roughly earned. He was a well regarded business who sold external doors and he also offered a DVD authoring service.
I was particularly surprised when he bought a very impressive, however expensive car. He confirmed that he had managed to obtain a loan over three years; he looked so proud of himself. Maybe it was just me but I could not believe his attitude to money and even tried to suggest that maybe he should be a bit more careful with his money.
He did not listen to me and could not understand why I was so careful with money and why I wanted to drive around in my old banger as he called it. I was no doubt just some stuttering freak to him.
He went on this huge spending spree for around three years. Suddenly as we all know credit dried up and he found himself in all sorts of trouble. This is when he decided to look for a debt specialist in the UK and it took him along time to get himself straight.
I am pleased to report that my friend is now back on his feet and his businesses thriving once again.