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| User Info | Oh Do Come On Friday; entered at 2007-12-01 13:32:31 | |||
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Rmonical Posts: 2782 Registered: 2007-07-04 Glendale AZ 
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Quote:Being in debt if deflation occurs is death, because you will not have the cash to pay and will be forced to default. IMHO, I would follow Pika-steph's example and get very knowledgeable about default and bankruptcy in your state. While I do not agree that we will enter a terrible deflationary time, I do believe that we will enter a very difficult time. My experience with people who have lost control of their debt is that they become very passive and let everything slide. If any of you are facing this situation, now is the time to get very intentional and manage your coming financial crisis to your best advantage. Do not let it just implode around you - it will be far worse. Edit. And like KD says; NEVER, NEVER, NEVER hit your retirements account to service debt or meet living expenses while you are paying down debt. If you are tempted to do that, then you need to get brutally honest with yourself and figure out a way through this that preserves what may be your only asset on the other side.. Last modified: 2007-12-01 13:40:06 by rmonical
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