Sometimes having debt is good.

A few years ago I had accumulated debt with student loans, car loans, credit cards, and a home loan, just like everyone else does. This kind debt is good for the economy, it keeps the goods flowing through  commerce and gives people jobs with income.  Everyone likes money, I know I do.  You are busting you but to make a living and life is great until your company you work for gets sold and you loose your employment, and benefits.  If this happens when the job market is very difficult especially after 911 attack issue here in the USA. Which kills hundreds of thousands of people and businesses. When this happens you have re-budget your expenses and consolidate the loans and reduce interest rates and do not use credit until you can get a new cash flow.


Today I am reading that there is a large amount of consumer debt in country, some say at an all time high.  Credit Counseling is very popular today. These organizations can help with Debt Consolidation Services, loan interest relief, automobile payments, Credit Card Debt Elimination, and student loans interest reduction, they can help you reduce your payments and bring your debt in a better budget range where you can pay it down or off.


In my case I worked two jobs and was able to pay off my Credit Card Consolidation loans and completely payoff all of the rest of my debt, it took me over a year and a half to complete. It feels good when you can say you have only your house to pay for.  

Sometimes not having a loan is good also.

Cheers