The Need For Greater Debt Relief Education | Total Debt Relief Blog

As a society, Americans are all too eager to believe that we haven?t the capacity to cohesively wade through the intricacies of consumer lending practices in order to practice the debt relief philosophies we so often preach. Just take a look through the papers or flip through the cable outlets devoted to financial news and pay attention to how clearly the commentators condescend toward what they believe consumers wish to hear from their media outlets. Like some sci-fi script?s far flung future population unable to recognize the fundamental technology supporting their way of life (and whose priorities have moved well beyond self education), we?re simply told to avoid bankruptcy for credit card debt without ever hearing a detailed elaboration of the consequences of Chapter 7 protection, and, from the current discussion about debt settlement guidelines, our political officials have similar suspicions of the electorate?s intellect.

Whenever modern consumers believe that they do not possess a sufficient amount of information about a topic, their natural inclination seems to lead them into the arms of a putative expert, and, what?s worse, studies have shown that people leap to choose authorities that best fit their vaguely defined understanding of the choices that their parents had made decades earlier. Regardless of the importance our political figures may place upon the supposed misdeeds of money hungry analysts employed by the largest investment banks when poking fingers and apportioning blame, there?s much the government itself could have done to prevent the current debt relief hailstorm. While greater regulatory measures were clearly needed to place a hold upon the greed fueled games of corporate financiers, we should also put precedence upon educating all Americans, young and old, about consumer finance.

Without a doubt, the men and women ruling Wall Street have assumed more than their share of culpability through basing the strength of securities ratings upon a willfully blinkered appraisal of loans handed out to the least eligible applicants midst a near historic property bubble, but, all the same, these executives were hired and so very well paid to exploit every single profitability maneuver for the benefit of the share holders or else they?d be instantly replaced. No, the fickle finger of fate for credit card debt relief failings falls squarely upon the governmental actions during the expansionary years, and, though the regulatory failings may shine brightest in retrospect, there?s yet another glaring absence to be addressed.

We?re not, as a people, nearly so stupid as the credit card debt peddlers would wish us to believe, after all, but survey after survey has contended that Americans are remarkably untutored in the ways of high finance. Most notably, as the legislation of 2009 sought to highlight, the optimism and can do attitude that made this nation what it is today has unfortunately enabled a good number of our countrymen to put hearth and home at risk due to nothing more than a genuine ignorance about what credit card debt could truly mean to a household over time. While the consumer base?s borrowing may temporarily boost the United States? economy, nobody could argue straight facedly that such self destructive habits bode well for the nation. Throughout the whole of recorded history, the more that people have known about the world in which they lived (and the consequences sure to visit their every move), they?re that much less likely to make poor decisions, and, given the ongoing crisis, debt relief education should be of the utmost priority.

Source: http://www.totaldebtrelief.net/total-debt-relief-blog/the-need-for-greater-debt-relief-education/

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