Apple of my Eyes

Sunday, February 24, 2008

Avoid Bankruptcy

I managed a financing business for three years. I am used to see people crying and begging to the sheriff not to take their properties. I am exposed to court hearings, property litigations and other related transaction regarding mortgage and debt. I knew when a Certificate of Title is genuine or fake. I knew if a creditor is an expert or newbies. I got all these through my working experience. I was exposed to different types of creditors. I still remember my superior’s tip when evaluating a creditor, “Just listen to what he/she says, pertaining that you believed everything but in yourself, everything is a lie until you finished with the credit investigation.”

Through this experience I learned a lesson in life. I told myself I won’t go into this kind of trouble someday. I must have a good debt management to avoid bankruptcy. I will not do what our creditors did during that time. One way that led to their bankruptcy was the reconstruction of the loan that was only half paid and use the proceeds to pay another existing loan . Actually this is good for our company because we earn easy money out of the interest of their loan. But seeing people going to bankruptcy is really alarming. What if it happens to you?

Posted by Ann :: 8:17 AM :: 0 Comments:

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