A Solid Way to Abundance

We express gratitude when we appreciate the beauty around us.

Thought for today: Abundance comes when we take stock of our lives, make tough changes, and plot a new course.  But it takes time to clear the wreckage of our past spending habits. To start the process of getting better, we first need to turn the corner in our own attitudes, by letting go of the […]

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How Important Is a “Good Credit Score”?

Letting Go

Thought for today: What good is a credit score?  It depends on what our needs are.  Sometimes it’s important, and other times not so much. A member shares: “When I came to DA, my credit score was tanking and it terrified me.  I had so many late and inconsistent payments that I was spending more on late fees and interest […]

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Are Student Loans “Secured Assets”?

Creative decorations

Thought for today: Many of us thought of student loans as being “secured assets“, but they are not.  Degrees are valuable, but are not financial assets.  The education we get is not technically an asset. Although student loans are usually cheaper than credit card debt, they are just as dangerous for the compulsive debtor to engage in. […]

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When To Use Collateral

Thought for today: Secured debt is debt that’s backed by collateral, such as a house, car, or other asset.  When a person borrows against collateral, they guarantee that they will turn over this property to the lender if they default on payments. Members share: “I once took out a home equity loan to build an accessory apartment […]

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Who Says We Can’t Negotiate Our Own Debts?

Thought for today: Who says we can’t negotiate our own debts?  People who mean well will sometimes encourage an “easier, softer way”, but they don’t have to live with the punch-drunk feelings left from exorbitant repayment plans. Others will caution against a bad credit rating, but do they know all the facts of our debting? […]

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Working Together

Thought for today: Fear kept many of us from getting help with money problems.  It was depressing to run out of money all the time, and be berated about it.  Victimized by debt consolidation scams, nasty creditors, and condemning family members, we grew to not trust anyone anymore – least of all ourselves! We thought we were the only […]

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What Is Unsecured Debt, and Why Is It a Problem?

Can I see into the future?

Thought for today: As DA states, “Unsecured debt is any form of that not backed up by some form of collateral, like a house, car or other asset”.  Why is it problematic for compulsive debtors? A member shares: “Easy credit works like a drug for us.  Banks encourage us to use of credit, because they usually profit […]

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First Things First

Thought for today: A lot of people suffer from compulsive debting without a program of recovery.  Often, they seek professional help from a therapist for their anxiety.  But therapists rarely understand the peculiar twist of mind that creates the need for us to debt.  We were rarely honest with them or even ourselves about the depth of our […]

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“I Don’t Have to Use Credit Cards, No Matter What!”

Thought for today: Compulsive debting is a disease which, left untreated, always gets worse, never better. A member shares: “Whenever I used credit cards it was a result of feeling trapped.   Household bills piled up and it seemed like the best solution. “Credit card companies make the deals so enticing too! One card offered a […]

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April 30, The Problem With Unsecured Debt (And How to Get Out of The Downward Debt Spiral)

Thought for today: An unsecured loan is a loan requiring no collateral. It’s not like a loan for a house, car or other asset.  Creditors charge a premium rate of interest because of the extra risk involved in unsecured loans. Because unsecured debt is so expensive, it causes extra pressure on borrowers to pay it […]

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