Credit Card Consolidation Loan point out financial lessons from the Detroit bankruptcy

December 14, 2013   Business News
(PRLEAP.COM) December 14, 2013 - Credit Card Consolidation Loan uses the recent Detroit bankruptcy to give their readers some important financial lessons. The article published on December 9 is titled "Financial Insights From Detroit Bankruptcy."

The article begins by discussing how debt is a hard financial situation to get out of. There are sacrifices that has to be made in order to keep themselves from declaring bankruptcy. But while it should be the last resort, the article acknowledges that sometimes, it is the only solution.

The article discusses how the Detroit bankruptcy is a scary financial situation but it is necessary to save the city from further economic crisis. Credit Card Consolidation Loan discusses how the Mayor of the city encouraged his constituents through a speech that he recently made. A video is included in the article and through that speech, the debt relief website came up with three financial lessons that consumers can implement in their lives.

1. Being resilient. The article discussed how consumers must learn to adapt when they are in a financial situation. It helps them assess their situation to stay away from the habits that is keeping them from overcoming the financial difficulty.

2. Moving forward. The mayor of Detroit is encouraging the city residents to just move forward from the ugly bankruptcy event. The article advises consumers to choose how they should deal with the situation. Instead of highlighting the stress, they should learn to be content with what they have and accept that the sacrifices has to be made as it will lead them to a better financial standing.

3. Negotiating. The article encourages consumers to face their creditors and negotiate for the benefit of everyone. The consumer must not be afraid to be transparent with their creditors when it comes to discussing how much they can afford to pay their dues.

The article also urges consumers to be in the know about their debts. This will help them make smart decisions when trying to come up with a plan to be free from debt.

To read the whole article, visit the Credit Card Consolidation Loan website or click on this link: http://creditcardconsolidationloan.org/financial-insights-from-detroit-bankruptcy/.
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