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Personal debt is the scourge of our generation
 
The era of easy credit may be over, at least for the foreseeable future, but for the thousands of people saddled with huge credit card and personal loan debts from a decade of laissez faire lending, the legacy of debt misery is still very much an issue of the day.

The predatory lending propagated by the avaricious banks and lending institutions has created a new class of modern day serfs enslaved to the minimum payment. The lenders have gambled on the compliance of the masses – that the people would simply blame themselves and continue to pay. It’s time to throw off the shackles and reclaim our lives.

An easy way out

Historically, bankruptcy has always been seen as something to be feared and avoided – but not any more. The rules have changed. We may live in an age when indebtedness has never been so widespread, but at the same time it has never been easier to discharge your debt through the streamlined insolvency laws in Britain. These days bankruptcy is a doddle, no more difficult than filling out a loan application. If you’ve no assets then you’ve nothing to lose. Bankruptcy really has become a legitimate lifestyle choice for the debt generation.

Why struggle?

Why strive to pay off thousands of pounds of debt to keep those at the top of the economic pyramid comfortable in their penthouse apartments and fancy restaurants? Bankers are still partying like it’s 2007, drawing obscene bonuses for fixing the mess they created, whilst the dole queues grow and the national debt balloons. As the champagne continues to flow in the city, the people fret and strive to keep up with their payments. The government will do nothing to redress this gross inequality except offer empty rhetoric. Your continuing compliance also keeps the system propped up. The answer? Hang your debts and start living.

A.N. Other

Debt Renegade

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