I met a young entrepreneur who runs a debt-solutions business that helps people who cannot get out of their financial mess. Like others in its industry, this business provides budgeting advice, assists clients with payment arrangement with creditors and lends money.
Sadly, business is booming. I say sadly because nobody likes to see people wreck their life because they borrowed too much money and wasted it. But thedebt-consolidationbusinesses provide a service for people whose debt resembles a runaway train.
He said some clients have $80,000 on credit cards, interest bills that cannot be met, and debt that can never be repaid. Often, the debt relates to the purchase of jet skis, holidays in Bali, swimming pools and other goods that should …
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