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20 April 2024

This is a New Year, let’s hope with new beginnings …

Theda Muller


Personally, I have entered this 2018 New Year with so much hope that those Debtors who are still procrastinating and surviving on excuses that they have beaten to death, will finally have the courage to take ownership and responsibility for the debt-crisis they have been facing for many months or a few years.

Now is the time to take that critical action to save yourself, your family and life and possibly a business that needs dire recovery, because sooner than later even if you have been holding the fort, ducking and diving from creditors, the bottom will fall out and then damage control is way beyond your capabilities, because procrastination is the thief of time. It eliminates the time you had to save yourself when you had the chance to, but from my experience, many debtors have wasted invaluable time asking and taking advice from the wrong people and this is the reason they are now in a dire situation.

My philosophy is that most of the time, we save ourselves with the help of our maker or maybe some really kind soul who feels the need to support us. But the latter situation is rare, because especially today, people have their own set of problems, they too are fighting to survive or thrive and have a goal that they are focused on, where it is their right to take care of themselves first, then the others.

So, my advice today on this brand new 2nd New Year’s Day is:

a. Save yourself now, not tomorrow, or next month;

b. Forget promises of an investor where you assume you can utilize some of those funds to repay or settle your debt, because no investor will risk their funds when the foundation is saturated in liabilities which are way overdue, pending legal action, because most of the time, you must be realistic, where I know that it’s very easy to be delusional with this desperate debt mindset;

c. Don’t take advice from anyone who’s trying to convince you that there’s a shortcut, because I’m here to tell you there is none, it’s the long hard road of debt recovery, for which you should be aptly prepared;

d. Forget the holiday, you can’t afford it, put your money where it’s needed right now, or face the consequences, as sacrifices dictates they must be made, or pay the price;

e. Turn a new leaf, decide to face your creditors or seek the help from a reputable remedial company to assist you, but do the right thing, for you;

f. Prepare your documents needed so you are ready and list all your liabilities in detail, so the picture is clear to everyone involved, including yourself;

g. Where you have done wrong and you have the money to pay your creditor, then do the right thing and pay your overdues, because it will support you for future problems. When you live with no gratitude, life will become hard and painful for you and then you should not wonder why, because that too, dictates you pay dues.

Peace of mind instills well-being and if you want to enjoy this peace then you need to do the work first, because nothing just happens, you must make it happen, so action is the order of the day.

Creditors, let me ask that you try and support willing debtors to the best of your ability, as there is no need to impose more harshness upon them, when they have stepped forward, taken ownership and responsibility and shown the humility to repay their debt in asking for your help.

There is absolutely no reason to resort to legal action if the debtor is in earlier months of default where this seems to be a new trend surfacing, because you have no need to go this route when you are in a position of strength to help the debtor, if the due diligence applied qualifies him for this help. The decision is simple logic, but many operate on personal egos to prove a point, remember I have always said that this too has a price, because when you can, then you must, even if you have a personal grudge for your own unjustified reasons.

You should comprehend that in today’s world, authentically serving humanity has huge rewards and you don’t have to do these deeds for rewards, you just must do it from your heart, because you want to, and it is the right thing to do.

We are all connected and so why some think they are entitled or superior is beyond me, but my request today is for all to co-operate to ensure seamless engagements and a successful outcome for all, because we need to survive and thrive, where some have made mistakes, but that does not justify generalization to impose legal action on them, because not all are cut from the same cloth, many are genuinely facing a debt-crisis and are sincere with their intentions, so this needs to be respected.

It’s a new year, new days, weeks and months ahead of us and together we can make the most of it, where we all can benefit! No one person is an island because it’s just not possible to operate with this mindset.

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 is also the CEO & Co-Founder of the remedial company EFFRS LLC, Dubai. 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.]