The growing trend of the elderly falling into more problem debt is not restricted to the United States alone. Credit Counseling and Recovery Service of South Korea is reporting that of the total number of debt workouts they assisted people with last year, 24 percent were fifty years old or older.

Most people know that ‘S.O.S.’ is some type of distress call, but most people have no idea what it means. The popular notion is that it the letters stand for ‘Save Our Ship’ which was used by the military in battle. You may be surprised to know that in reality the acrostic has no meaning at all!

After the recent unfortunate recession in the U.S., people are experiencing massive unemployment and wage reduction, due to which they are incurring overwhelming debt. As a result, in order to unburden themselves from the exiting debt they are incessantly enrolling for debt relief program, or declaring bankruptcy.

Next to winning the lottery, a debt consolidation loan is a debtor’s dream. With one monthly payment and a fixed monthly payment schedule, you can actually see an end to those monthly payments. In reality, consolidating bills isn’t always easy. If you have a lot of debt, it can be hard to find a consolidation loan at a lower interest rate. And if you’re not careful, you can end up deeper in debt than when you started.

July 14th, 2002 I got a call yesterday at 8:AM. I don’t like getting calls at 8:AM at work or at home. Obviously, there’s nothing I can do about the work calls but the home calls, I’d like to think that this is an open invitation to be rude…