Home Debt A Bad Credit Record and Debt Are Not Crimes

A Bad Credit Record and Debt Are Not Crimes

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It has often been said that for a species which considers itself to be at the apex of all life on earth, when it comes to some of the hardships of life we conspire to subject ourselves to, we appear to be quite daft at times. We are indeed the only species which actually pays to live on the very earth which is otherwise free to live in.

I mean think about it — from the very day you start becoming conscious of your own existence and that existence in relation to your environment and other people around you, you are taught the ways of the world; the ways of the economic world, wherein you have to work for money so that you can afford to firstly keep yourself alive, and secondly to perhaps spend some of that money on things which make your life “better”, like a bit of comfort and luxury as well as entertainment.

The monetary and financial system of the world is fundamentally flawed in its design because as is taught by just looking at something like the Stock Exchange and all the derivative markets associated with trading in this way, you’ll come to confirm the open secret that we simply can’t all win. For every winner there has to be a loser, it is said and it’s perhaps clear for anyone to see, but it’s perhaps more like for every winner there has to be a lot of other losers. That’s why we can talk about a privileged few who belong to the “1%” — that tiny group of people who control almost all of the world’s wealth.

I mean if you just thought about it properly, you’d realise that the flawed economic system on which we’re operating is essentially why there are some people starving in the world when there are clearly enough resources for all of us. The economic system can be really cruel to the hardest-working people amongst us and you can find yourself with a very bad credit history to your name which blocks so many doors for you to even try and think about working it back to good health or even just paying off your debt.

The greedy designers and custodians of the current financial system, some of which custodians don’t even know they’re perpetuating a flawed system, appear to have left us all a lifeline however by not lobbying for a bad credit record and being in debt to be made criminal offences. It could very well be for their own selfish reasons — I mean what good is someone to you who owes you money if they’re locked away in prison somewhere, but even if it is for their own selfish reasons, this opens up the door for anyone battling debt and a bad credit history to make use of some channels available to lift themselves out of the financial malaise they find themselves in.

You might need to get car finance despite your bad credit for instance, so that you can drive to a new job each day and earn that much more money which allows you to gradually work your way out of debt and thankfully stances such as these are still an option.