Essay On Sky Rocketing - 750 Words

Credit Card Delinquencies Are Sky Rocketing — And There’s Just One Answer Thats Sustainable With the stock markets at record highs and unemployment at a comfortable, there is one problem that is currently being overlooked. That issue is consumer debt and it should not be ignored, even during the good times and it should be a great concern for most people. The stubbornness of cumbersome personal debt following a recovery highlights problems that are systemic. Even with healthy looking numbers, jobs are still rapidly going overseas. Student debt increases as the cost of attending College keeps getting more costly. In certain instances, prosperity might even ensure a debt crisis thats going downhill when, for instance, local communities†¦show more content†¦The two options are debt settlement services that are for-profit and non-profit credit counselors such as the NFCC, which was started in 1951. The NFCC was the countrys first and biggest such organization that was committed to enhancing the financial well-being of people. We will compare the two alternatives and look at where we as a country want to invest our energy. The member agencies of the NFCC offer millions of consumers in-person financial education, online or via the phone. A holistic approach is taken where a thorough financial review is taken and they come up with a financial action plan that is tailored made for each client according to their goals. The Certified Counselors at the NFCC take the full gamut into account, from counseling for bankruptcy and credit card debt to first-time home buyers and student debt and ultimately an in-depth financial education. Keep in mind that one in three of the NFCC members provides multiple services that involve mentoring youth, chemical dependency programs, etc. NFCC Board Chair and President Debbie Bianucci, who is also CEO of BAI (a 90-year-old company that serves financial services organizations) said that from their extensive experience, the most effective way to deal with the problem of debt is to help empower consumers with the education and experience required to produce a solid action plan and to develop the discipline toShow MoreRelatedThe Contemporary Water Crisis Of Mumbai932 Words   |  4 PagesThis essay will explore the contemporary water crisis in Mumbai, India; a rapidly growing megacity that for decades has struggled to provide adequate access to water for their 20 million residents, and in particular the more than 10 million people living in unsanctioned self-erected slum communities that surround the city proper. 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