Mortgage crisis, declining home values, loss of jobs, high commodity prices and cultural confusion have set upon the American population like a dark cloud. People are wondering “Am I next?” as they see their comrades walked out of the door in another attempt to cut costs. With little savings, no assets in their home and a high profile of debt such people are often only a paycheck away from poverty.

It would end world dominance of our financial markets. It would see the rapid decline of the corporate capitalist system and it could herald a completely new way of living – one which would be fair and just and equitable for all – and not just a privileged few.

First of all, you should realize that the company that you are with will not be able to prevent or stop your creditors from attempting to sue you over the debt. Since Mercury Credit Card Login companies are generally not pleased to have their money not returned for a long wait, they will often sue.

Houses have lost values for the past year averaging around 16% per year (Solberg, 2008). Since most consumers use their houses like “revolving credit cards” only a financially solid few have enough capital in their houses to sell them for a price they can pay off their debts with. Therefore, selling your house in a buyer’s market isn’t likely to make much of a difference to consumer’s financial situations.

If these stock markets begin to fall and never recover we are led to believe that there will be a worldwide economic recession or depression. Well I’ve got news for you, we’ve been in one since the 1980’s or 90s. For any of us who have had to live from ‘hand to mouth’ with barely enough money to survive, it is already that way. For anyone who has had no work or very little hours or has to work two or three jobs a day – you’re already in a depression.

Luckily there are things you can do to help improve your outlook dramatically. First and foremost, you need to make your payments effective. If you are paying as much as you can possibly afford, and only $100 is going to principle, that $20,000 debt will take more than 100 months to pay off. And that is a better-than-most case scenario.

Set up a weekly budget, a monthly budget, and an annual budget. Check your progress often to see you are staying on track. In this way you can hold yourself accountable and this will help you stick to a budget plan.