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Hope you enjoy the blog; may it bless and encourage you!

Murphy Geer Toerner

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Austin TX and Baton Rouge, LA, United States
I enjoy helping people. I am an encourager and I can see the good in others. I want people to understand what it means to be an authentic Christian and not just a religious "nut." I believe if Christians lived and loved others as Jesus lived and loved others, we would experience more of heaven on earth than hell on earth. These thoughts and writings are intended to encourage you to be who God originally designed you to be. They are also intended to challenge you and make you think. Also, I want you to know that I'm praying for you every day. Blessings, Murphy Blessings to you, Murphy

Saturday, November 12, 2011

Are You In Debt?

Last Updated: 11/05/2011 13:10 PST

The 5 Dumbest Things You Can Do if You Have too Much Debt

The 5 Dumbest Things You Can Do if You Have too Much Debt

If you’re struggling with too much debt, you’re not alone. It seems as if the whole nation has a borrowing hangover. For years, credit was easy and many people became overextended. But, we now live in an era of austerity and it’s time to get our affairs in order.

The five strategies you may want to avoid:

The first piece of advice from experts in the field is to be sure you don't make your situation worse by making common mistakes. In particular try to avoid:

1. Paying only the minimum payment on your debt, as this will result in the amount you owe actually growing, and your problems will only become worse.

2. Relying on friends and family, as this can damage relationships with the most important people in your life.

3. Unscrupulous credit counselors that demand cash upfront or high fees for help they promise, but don't deliver.

4. Using new high-interest loans to pay off lower interest rate loans. It may be easier to just have one payment. but it will actually increase the amount you have to pay back.

5. Declaring bankruptcy. This can have permanent and severe consequences on your financial future. Avoid it if you can, especially when debt settlement may work for you.


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