Archive for November 24th, 2011
There are many reasons why a mortal might end up in financial stress, which leads to financial ruin in the form of an extremely poor credit rating. These can vary, from the loss of employment, medical emergencies, or natural disasters.
Natural Disasters, Credit Card Providers And Losing Everything
In the case of natural disasters, a mortal or an entire family can lose everything, their home, possessions (Such as furniture, televisions, and computers, any for of household item.), irreplaceable items (Such as photos, family heirlooms, sporting memorabilia etc.) and, if they are really unlucky, their business. This situation is not their fault and they might not deserve it, however they have to deal with the consequences beyond just losing everything. Many people don’t have sufficient insurance to cover the costs, and will end up finding it extremely hard to rebuild their lives without any assistance.
Credit card providers aren’t known for their generosity or their caring natures. They are there to make a profit, not to care about your wellbeing. This can make it a lot harder for a mortal to rebuild their lives, as they are starting from nothing, starting from a position worse off than they ever had before. This can be extremely difficult, and often many of the problems with come from these circumstances are unknown to those outside of the tragedy, and might come as a shock to those involved.
Losing everything means losing everything. Your credit rating is all of a sudden in an extremely dire position. You might have had a home with a mortgage. The home is gone, but the mortgage is still there. You have no way of making an income as your job or business might have been destroyed with the natural disaster, so any debts you have incurred from using your plastic money won’t be healthy to be repaid any time soon. This means it will sit there, gaining interest and getting worse and worse. By the time you find yourself in a position where you are earning money, your debts might be so great that you never had a chance for a reprieve. It might take years to make the repayments, and quite possibly you will have credit issuers and/or debt collectors coming for you, trying to get more and more money out of you.
You Can Recover And Seek Help
This situation is tough. The natural disaster, be it a flood, bushfire, tornado, hurricane etc might only last a few hours or even a week, but the repercussions can last years and years. You might never fully recover from what has happened.
Thankfully, some banks and financial institutes have seen this, and have place in place products especially for those with their finances on life support. There are quite a few credit providers who offer cards for people in these situations, with terms and conditions that are designed to make the situation a tiny easier (And make some profit along the way, of course.). If you feel that you need some extra assistance, then do some research on to what offers are acquirable and who is offering them.