I went for a Credit Counselling talk last night, just to see how it is like. The talk covers on basic things like how to improve one's credit rating, how to do financial planning, what happens when one is a bankrupt, and how the organisation can help. A waste of my time actually, because I already know whatever they covered! What surprises me is the place was totally full! There were seats for forty, and along the way, more people came in, until some had to stand as there were no more places left! Seems like there are many people here with financial problems.
Initially, I was thinking to outsource my remaining installments to Credit Counselling, as they can then negotiate for a more flexible deadline. But after the talk, I realise it is not that useful to me! They help those with more financial troubles like those who default on mortgage and car loans, who have families to support. Someone like me with no family of my own and no assets to my name will not be able to use their services.
Besides, we have to pay to use their services. Quite an irony actually, if they are really not-for-profit and wishes to help, why are they still charging us for asking them to help? Afterall, if people seek their help, they must have been really desperate and broke, so would not be able to pay, right, if they already have to pay so much back to the banks? Furthermore, once a person seeks help from Credit Counselling, their credit bureau record will be forever tarnished. They can never have any loans, be it car or housing or education, approved anymore. It is as if one bad record and your life will be doomed.
Which makes me wonder, if ex-prisoners can get a second chance to turn over a new leaf, why ex-bankrupts or almost bankrupts can never get another chance? Is money really everything else that someone who happened to be in financial difficulty but got out again can never recover, yet someone who had killed someone or stole something can be forgiven? Strange world we live in!
Initially, I was thinking to outsource my remaining installments to Credit Counselling, as they can then negotiate for a more flexible deadline. But after the talk, I realise it is not that useful to me! They help those with more financial troubles like those who default on mortgage and car loans, who have families to support. Someone like me with no family of my own and no assets to my name will not be able to use their services.
Besides, we have to pay to use their services. Quite an irony actually, if they are really not-for-profit and wishes to help, why are they still charging us for asking them to help? Afterall, if people seek their help, they must have been really desperate and broke, so would not be able to pay, right, if they already have to pay so much back to the banks? Furthermore, once a person seeks help from Credit Counselling, their credit bureau record will be forever tarnished. They can never have any loans, be it car or housing or education, approved anymore. It is as if one bad record and your life will be doomed.
Which makes me wonder, if ex-prisoners can get a second chance to turn over a new leaf, why ex-bankrupts or almost bankrupts can never get another chance? Is money really everything else that someone who happened to be in financial difficulty but got out again can never recover, yet someone who had killed someone or stole something can be forgiven? Strange world we live in!
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