Debt
Sadly it is our personal and collective debt which has helped contribute towards the national and international difficulties which have plagued us for the past few months. For too long businesses, retailers and consumers have enjoyed a false optimism, taking out credit or offering credit to almost anyone, for almost any reason.
That situation has resulted in a precarious house of cards – credit cards – being constructed. The trouble with houses built from cards is that they have a tendency to topple down fairly easily, and with more and more people facing repossession and bankruptcy it’s easy to see the evidence all around us.
Yet there is hope, and by acting quickly, taking professional advice and being brutally honest and realistic most of us can afford to see this recession through and emerge the other side, wiser and far more stable.