Quick Answer: A debt crisis means being overwhelmed by unmanageable debt payments that create financial and emotional distress. The author encourages readers to help others facing debt struggles by offering supportive comments and advice on debt forums like GetOutOfDebt.org, creating a compassionate community for those seeking financial guidance.
Each day I get up, check my inbox and tackle answering emails and questions from people that are suffering with debt issues. I do it because I think it is the right thing to do. It is something tangible I can do to ease the suffering, fear, uncertainty and anxiousness that many are suffering with in silence.
But I challenge you right now, to help the cause and ease the pain of someone you probably don’t know. You can easily do this without cost and without painful effort by offering a kind word in the comments of a question on the GetOutOfDebt.org site from someone that struck you, or by taking some time to visit the debt forum and answer a question or two.
By offering not only your time, but your compassionate suggestions on how people can break free from the bondage of debilitating debt that is dragging them down, you can make a difference.
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
In the latest issue (Oct 8): A parent's nursing home bill can become yours
I write Your Money Actually most weekdays — actionable money information you will not find anywhere else, and the small decisions that compound. It is free, I sell nothing, and I take no money from any company I write about.
I am but one person and I can’t do this all alone, but together we can move mountains and change lives for the better. We might not be able to change the banking system or to eliminate debt from the lives of most people, but what we can do is create a safe and friendly place where people can come for kindness, honesty and to be embraced by people that care.
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I once fell so fast financially that I had to take my wife and three year old daughter and move back into my parents house or else I would have been homeless. The depression of my failure left me in such a dark place that I am not sure how I would have been able to cope without the support of my family. Even still, I felt I had failed as a husband, a father, and a family provider.
Some may scoff at me for feeling like that, but I did, and based on the emails and statements people have sent me and those that will arrive in my inbox tonight while I sleep, I am not alone in that pain.
I don’t ask for you to give a dime to pay off the debt of another, that is not a cure or a solution. All I ask, is that which is priceless and free, simply your time, your compassion and the ability to care for a fellow American who is down, but we can’t let them be out.
Are you with me?
Steve
Know Your Rights: If a debt collector is contacting you, you have legal protections. See the complete list of FDCPA violations collectors commit most often. Use the free Debt Validation Letter Generator to demand proof of the debt, or check this collector’s complaint history with the Scam-O-Meter.
Dealing With Debt? Before you pay a collector, understand all your debt relief options — including ones the collector won’t tell you about. If the debt feels unmanageable, take the 2-minute bankruptcy quiz to see if the math favors a fresh start. Federal Reserve research shows filers recover faster than those who don’t file.
