The Global Gen World

You can’t open a paper these days or turn on the television without hearing something about the subprime crisis or another of our economy’s wows (and unfortunately our economy has quite a few). But for many, the current situation is more than just a boring headline or confusing news piece. Many are experiencing the situation up front with millions buried in debt and on the verge of bankruptcy. There is nothing worse than debt and only someone who has felt the clutches of severe debt weigh him down can know just what it’s like. I saw an interesting analogy as the slogan on the Clear Debt site. Their motto is “Debt is a monster – tame it”. But the good news is that with a little knowledge there are ways to battle debt and avoid bankruptcy. Clear Debt recommends the use of IVA or Individual Voluntary Arrangement which allows individuals to settle their debts without having to declare bankruptcy.