Wisdom from the new book, "LEGAL CONSUMER TIPS AND SECRETS", by Attorney Charles Jerome Ware, former Special Counsel to the Chairman of the United States Federal Trade Commission (iUniverse Publishers, 2011). 6 Tips to follow WHEN YOU ARE IN HEAVY DEBT:
1. Generally, go not make matters worse when you are in debt by committing common, unthinking mistakes.
2. Do not rely on family and friends to pay your heavy debts. This can destroy your relationship with them.
3. Do not pay cash upfront to credit counselors or so-called debt settlement professionals. These people rarely, if ever, deliver.
4. Do not use new, high-interest loans. This process serves to increase your debt load.
5. Use bankruptcy only as a last resort. Bankruptcy can be devastating to your financial future.
6. Do not rely solely on paying the minimum on your credit cards or other debt. Your debt only becomes larger.
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