Be Honest with Yourself

Did you know? There are two distinct emotions connected with your debt: chronic denial and blinder syndrome. The former may be the most common since you don't want to be told you have a problem. One year you're consolidating all your loans and the next day you're running up new credit card debt.

Why didn't you cut up those cards? Because you were satisfied with the Band-Aid on your broken leg and ignored the much needed reconstructive surgery to fix the problem. The shocking truth is that fewer than 30% of Americans who start a debt consolidation program become truly debt free (i.e., paying off the consolidated loan, no additional credit card debt, etc.).

Just as bad is the blinder syndrome. When you have your debt blinders on, you don't see the debt trouble surrounding you. Placing past due bills in a drawer or checking the caller ID every time the telephone rings are your solutions to tackling your debt problem. Your mantra might as well be, "Out of sight, no more problems."

Admit you're in debt trouble and start living like it. You don't have to live the vicious cycle of debt or live under a mounting pile of debt with no relief. Go ahead and face the music. You need to open all those unopened bills and add all your debts up. Ignoring this problem doesn't make it non-existent.

But who am I to instruct you on the handling of your debt problem? This is a fair question to be asked. In the words of Sy Sperling's famous TV commercials in the '80's for his Hair Club for Men Co., "I'm not just the president, I'm also a client."

Please evaluate my past transgressions against your current situation. This may help open up the discussion of what can be accomplished when you stop denying your problem and take off those blinders.