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I meet with many clients who, when I ask them what brings them to see me, respond "I was once young and foolish". At the root of most of the client's stories seems to be a common theme: Getting all kinds of credit, letting time pass without paying it, and then hoping that it will simply just go away. In many cases, it does seem to go away; we change telephone numbers, we move and our creditors seemingly "forget about us". This notion very much reflects the "young" in us; however our creditors soon catch up with our "foolish" side. How? At some point in our lives, we settle down; we get married, or live with someone, have children, and need credit. Perhaps we want to purchase a house, or some furniture for our apartment; we may wish to lease or buy a car. Or we may simply want a credit card to be able to reserve concert tickets or rent a car. These are the kinds of events that bring our past crashing back to reality. How? Because most often, it is only us who "forget" about the bill we didn't pay. The company we owe it to most often does not. Instead, they report our failure to pay them with the same credit reporting agency that the mortgage company, leasing company or credit card company looks to for information that will reassure them that we have good credit. I've talked to many clients who have sat across from a lender, only to suffer the humiliation of having their pasts come back to haunt them. In some cases, clients have not told their spouses about their past credit history. At that point, dealing with the lender becomes the least of their problems; now they have an angry spouse to account to.
So, please beware of the debts that you think have simply disappeared from your "Young and Foolish Days". If you are one of the people who find out the hard way that their debts have not been forgotten, or if you simply want to get things fixed up before it gets you into trouble, give us a call at 310-PLAN, or visit us on our website to learn more about your creditors, how they can affect your future and the options you have to deal with them.
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This site is sponsored by Hoyes Michalos & Associates Inc.
If you're having financial difficulties and live in the Hamilton area, call (905) 777-0770 today to meet with one of our experts, or complete the ask a question form to send us a message and we'll get in contact with you. |
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