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05 December 2023

Personal finance: Embracing a debt-crisis…

Theda Muller

By Theda Muller

Procrastination is the thief of time; it is also the phenomenon that eliminates the opportunity for you to recoup your life and start rebuilding the broken.

•     How many times have you broken your own promises to yourself?

•     How many times have you conjured so many excuses they even seem real to you that you now believe them?

•     How long will you continue beating the stick that has long died? i.e. “I don’t know how I am going to get out of this horrific debt situation? I don’t have the money, I can’t make my payments!!” – fact is, you have been there for a very long time, so beating the old drum of being in debt and not having enough is not going to serve you now, like it never served you over the past years or months.

Realistically nothing will move as you continue to keep yourself in a state of lack, so the money will never come. You will not get out of debt by not taking sincere action, emphasis on sincere.

•     Why is it so hard to set your intention to take concrete action to get yourself out of debt? What is stopping you?

•     Why do you continue to claim that the situation is hopeless, no use trying, when you have not even attempted trying?

•     How come you cannot look at someone else who got themselves debt-free, get some courage and affirm to yourself that ‘If they could do it, so can I?” – What differentiates you from anyone else? No special treatment is awaiting you; only tough lessons which you must face, sacrifices must be made as there are no free lunches. You are in this situation for a reason, so the best advice I can give you is, embrace it and start progressing in your life.

•     Stop ‘talking the talk’ and start ‘walking the walk’, because anyone can blow bubbles infinitum if it makes them feel good, because in this game it is normal for people to become delusional as it is more important and becomes second nature to put up a facade and act like the situation doesn’t exist, until it explodes. Then come the real lessons.

•     You are not unique, neither are you exceptional, so don’t fool yourself to assume this is first time a creditor meets someone like you who is facing a debt crisis. This is normal life, it happens too many where most of the time you are just a number and statistic. In real life, nobody cares, people are way too busy with their own agenda’s and lives, so unless you take control of your debt situation right now, the future will become more unbearable and then you will regret not having taken action sooner.

•     This is your life, so why don’t you take it serious and do something about your debt crisis?

•     The process of becoming debt free is based on pure sincerity, integrity, commitment and full support to yourself for your situation. This is not a game where you can stall the players until you are ready, until you took the time to review and rethink if you must action this situation because you don’t have the luxury of options, there are none.

There are no luxuries right now, this is the time to take control and be serious about your intentions to achieve your goal to become debt free.

So many people facing a debt crisis cross my path daily, specifically after reading my articles but I am baffled at the very low level of sincerity and commitment, as if they have the time to delay anything.

People need people, we are dependent upon each other for many things, above all evolution, the cycle of things, incidences, you name it so:

1.     The creditor needs their debt repaid so they can continue sustaining their business, retain their jobs and employees can continue supporting their families for sustenance, a roof over their heads, upcoming generations can continue being educated and the world can continue improving and become a better place.

2.     The debtor needs to repay their debt for the same above reasons.

3.     Employers need to continue retaining and expanding their businesses, creating more jobs and achieving their goals and objectives.

4.     Governments must continue supporting their countries, ensuring efficiency, improvements, growth (GDP) is consistently increasing and countries achieve their goals and objectives.

5.     People need the chance to rebuild their lives, positively contribute and achieve their goals and objectives.
So the big picture is not just you being in debt and being stubborn about it, realize however much creditors might refer to you as their ‘default client’, you have the same important role to play like anyone else.

You don’t need to be the under-dog, you can thrive again like everyone else because there is enough out there for everyone, there is no lack the only lack that exists is your inability to pull yourself out of the doldrums, set your intention, take action and be on your way to debt recovery and victory!

[Note 1:  Theda Muller is a UAE-based author of two books: Embrace Financial Freedom Volume One: 10 Proven Ways To Release Debt And Emotional Fears In Today’s Economy, and Volume Two: Releasing Fear And Bouncing Back From A Debt Crisis.

She also conducts webinars and workshops on debt recovery.]

[Note 2: The views expressed are the author’s own and do not reflect in any way, the views of Emirates 24|7. Readers are advised to carry out their own due diligence before taking any decision.]