I got to know that a friend recently enrolled in a credit card debt management program that is managed by the Central Bank. I was surprised because she is single and owns her own apartment so she shouldn't be in debt.
According to a mutual friend, this lady draws a good salary but doesn't manage it well. A few years ago, she went on a European tour financed with multiple credit cards. I think paying interests on those credit debts caused her to be in this financial shape.
Before enrolling in this credit card debt management program, Collection Agencies would call her up while she was at work to demand payment from her. Normally, this would cause someone to lose her job but it's a lucky thing that this lady is employed by her own brother.
What I failed to understand is how someone could go on an expensive holiday when she couldn’t afford it in the first place. If that’s not all, she also used her credit card to pay for a slimming program that failed to work for her. That was a few thousand dollars down the drain!
But I am glad that she has her debt under control now. At least, she only has a single amount to repay monthly after enrolling in the credit card debt management program and not have to take care of multiple creditors at the same time.
According to a mutual friend, this lady draws a good salary but doesn't manage it well. A few years ago, she went on a European tour financed with multiple credit cards. I think paying interests on those credit debts caused her to be in this financial shape.
Before enrolling in this credit card debt management program, Collection Agencies would call her up while she was at work to demand payment from her. Normally, this would cause someone to lose her job but it's a lucky thing that this lady is employed by her own brother.
What I failed to understand is how someone could go on an expensive holiday when she couldn’t afford it in the first place. If that’s not all, she also used her credit card to pay for a slimming program that failed to work for her. That was a few thousand dollars down the drain!
But I am glad that she has her debt under control now. At least, she only has a single amount to repay monthly after enrolling in the credit card debt management program and not have to take care of multiple creditors at the same time.
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