Living Out Of Debt

Oscar Wilde’s humorous claim that a man who pays his bills on time is soon forgotten is probably just as true today as it was in his lifetime. Wilde also stated tongue in cheek that it was only by not paying one’s bills that one could hope to live in the memory of the commercial classes. Today unfortunately many people are engulfed in a morass of personal debt and cannot see any way out of their financial troubles. They seek a solution to their situation that incorporates a degree of debt forgiveness by their creditors and also hope that that solution will not be a millstone around their necks in terms of their future credit worthiness. In other words they hope that their creditors will formally ‘forget’ about their historic defaults in repaying their debts.