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Practicing credit restraint makes difference.

Publication: Mississippi Business Journal
Publication Date: 31-JAN-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: Practicing credit restraint makes difference.(As I See It)(debt management)

Article Excerpt
Problems with credit, both corporate and personal, are rampant today. Almost every advertisement on TV shows some happy folks who have just refinanced their home and paid off their credit cards and will certainly live happily ever after. Naturally, there's no mention of changing the behavior that got them into credit trouble in the first place.

The uglier side of credit abuse is evident in the bankruptcy statistics. An appalling number of Americans are filing bankruptcy and walking away from their obligations. Not only does failing to honor one's financial obligations tear at the moral fabric of our society, but it also drives the cost of credit higher and higher for everyone else. Nonetheless, the unrequested credit cards keep coming through the mail with annoying regularity.

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