Debt Mountain – facing up to the challenge

When faced with a mountain of mounting debt issues that seems to get steeper every time you scale one of its slippery faces, it can be very easy to let desperation start to overrule any logical thoughts. In such instances, that friendly crag, which looks from the outside like a firm grip you can lever yourself up to the next level with, can prove a fickle friend if its roots are buried in rotten earth or melting ice, rather than solid rock.

Those footholds and handgrips can take on many ruses, hiding in amongst sultry shadows or glistening in glittering snow: will debt consolidation give you the hand up you need?; will a instant cash loan get you on to the next shelf?; should you just cut loose and see where you land with an IVA? All of these options seemingly available, but which is the one that will bolster your efforts with a boulder beneath that bulging landslide waiting to happen? Are any of them any good to you? Well, with neither sight nor sound of the rescue helicopter, you know you’ve got to risk your financial life on one of them, otherwise…

…before you know it, you’re a level down, rather than up, and the ground beneath your feet seems to be slipping away faster than ever and the whole overhang of debt looks treacherously shaky above you. For the world it appears as if the lot’s going to come crashing down around your head before you even get a glimpse of the summit. The key to surviving this sticky situation you find yourself in is not to let panic be your guide and ruler. Deep breaths, stay focused and implement short, decisive actions that form parts of a long term plan are the key to surviving this icy west face of Debt Mountain, until you can at least see the apex and its shimmering white cap.

Let no one fool you – if you’re in this situation, by your own design or through little fault of your own, conquering this peak is a long road; you’ll often travel it alone, there’ll be times when you can’t see the summit and feel the frost of self-doubt and anxiety nipping at your nose and toes. But with a healthy ration book, you’ll come out of the cold, bask in the sunshine of the upper face of the mountain and soon have your goal in sight; even though it still will be a long way off, you’ll be striding towards clear credit in the warmth, not cowering in the cold shadow of an unstable avalanche that could send you back to square one at any moment.

In the next article, “Conquering debt mountain with short term loans”, we’ll take a look at why short term loans, working to a set plan from payday to payday, can work better than a long-term consolidation loan or the dreaded IVA, when it comes to tackling your debt crisis.

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