Lara K. Harper

Borrowing once or twice because of a mismanaged financial plan is normal but when borrowing becomes a regular thing that can put a person in serious debt problems. A person who borrows money from another is said to be in debt.

Debt is really just a simple concept, which provides that a person who borrowed something from another is duty bound to pay that debt.  However, the concept of debt becomes more complicated with the introduction of other concepts like mortgage, interest rates and other charges.  Interest makes most debts double or even triple in amount.  More often, the interest rates due for a certain debt is even higher than the principal amount borrowed.

Society is becoming so commercialized that no person is exempt from this worldwide phenomenon called spending and mounting expenses and accumulating debts. The rising cost of living and dying has made people more reliant on loans and credit. Being in debt is normal and people will always have the tendency to accumulate debts no matter how rich.  In fact, rich people have more debts than poor people because they have more needs and they have more collateral or security.

In this book, you will get information about:
-          The basic concepts of debt
-          Exploring your own debt
-          Controlling high interest debt
-          Finding your hidden money
-          Knowing your rights
-          How to deal with creditors
-          Debt consolidators
-          Selling off assets
-          Bankruptcy
-          Lifestyle changes
-          Saving money

A debt is an obligation that should be paid and accounted for no matter how meager the amount. Being in debt isn't something that you should be ashamed of provided you are a responsible debtor and you are dutiful in looking after your responsibility to pay your debts.