Prime Rate Credit

We all want to escape when our debts seem to be unconquerable, don’t we? I know myself, when I found myself way in over my head in credit card debt as a part time college student, struggling to pay the bills, and using credit cards to pay for schooling and books, as well as living expenses that were unexpected, like car repairs, and even sometimes extra groceries, it seemed as though I would never pull myself out of the mire of mounting credit card debt, bills, and interest rates that I couldn’t keep up with at that time.

Fast forward five years, and I am now debt free through smart saving, and dilligence in paying off my bad debts, which were namely high interest loans and revolving interest credits like credit cards that jacked up their rates on me for late payments, or a poor credit history. These days, thankfully, I’m back in good graces with creditors through a lot of tenacity in getting this monkey off my back.

I tried to play the credit card game of transferring balance to low apr balance transfer credit cards, and that only bought me a little more time. What I really needed was a solid budget, extra money and a little more determination, and I could be out of debt, which is exactly what I ended up doing.

The recent big story that’s in the news about a man named John Darwin really brings to light the lengths people will go to to avoid huge debts that seem totally out of their control, and the stressors that it places on people’s lives. This is sad, because many people feel so hopeless when their money situation gets out of control, and they feel it will never improve, that some even carry it as far as intense depression and even suicide.

John Darwin is a man who faked his own death, pretending that he died on a canoe trip several years ago, and of course no body was ever found, so that his wife may collect on his life insurance policy and pay off the debts that had mounted beyond his control - at least in his mind they were out of his control.

The British man was tired of “being dead” to his children, who are now five years older, and showed up out of the blue, acting as if he had amnesia, because he missed his children. He had holed up in the family’s home for five years, and his sons and police had believed him dead all these years. When the story first broke, it was told as if he were a miracle, but when the facts came to light that he did it to avoid mounting debt, he is now being questioned and possibly is going to be charged with fraudulent acts if he is convicted.

His wife finally confessed that he had faked his own death and was holing up in the home, hiding from everyone, so it may even be possible that she would be charged with aiding and abetting some sort of fraud. I for one have sympathy for this type of situation. Anyone who has ever been under extreme financial duress can probably identify with this.

Although many of us would not take it to this extreme and may disagree with it on a moral level, we cannot deny that when we have been through periods of such intense despair that we haven’t had the feelings of wanting a way out - a way to escape.