After you have successfully been approved a bill consolidation loan you may ask yourself this, “Now What?”. A valid question, but one that is easier answered by what NOT to do.

Now that you have cleared up your Visa, Mastercard, and American Express debts and arrears, it’s time to take a good close look at what got you so deeply in debt in the first place.

We’re you spending more than you earn? Probably.

We’re you spending money on “wants” more than “needs”? Probably.

Bad Debt Because of Bad Luck

So many applicants for bill consolidations blame bad luck on their bad debt problems, when there is a reality they don’t want to admit to themselves.

So many times we get emails or comments from debtors who claim they are victims of bad luck. I beg to differ….most of the time. Sometimes people will end up with allot of bad debt because of medical bills and injury – yes, this is true, but rarely this is the real reason debtors are so badly “in hawk”. Usually they have been spending way to much money. They have been overspending and under-earning.

Usually the debtor has neglected to save for a rainy day, by paying themselves first every paycheck. So often people could get through a “rough financial patch”, if they had just saved some money over the years leading up their stretch of bad luck

So the answer to the lead-in question is;

Stop spending more than you are making, and for God sakes — start saving some money every month for a rainy day.