The Philippines Credit Card Debt

Sunday, January 10, 2010

I have been taking a look at what the Filipinos have been doing in this day and age because of the fact that there has been a very alarming increase of credit card debt in this country. We need Consumer Credit Counseling and seek the help of economic experts. At the alarming rate of 20 percent just this 2009, there has been significant increase that would cause worry to financial institutions because PINOYS have not been able to pay back their credit card debt that much and it will probably continue to grow unless there are certain changes in the financial guidelines set by government agencies or the constitution.

This has been the dilemma that the banking sector is facing head on because there are probably no consecration camps times considered for people who end up in debt from private corporations. In the next year, there has to be some way the President to help this industry so he could set stricter guidelines on people who literally borrow money and destroy their credit rating. This could be very detrimental to the success of a worker who does 8 hours a day in the office. Without proper guidance and management, we would end up as a nation who depends on debt and never go back to the first world country status we were in like before. I bet MARCOS will laugh in his grave if that happens; so make sure you take matters in you hands and go for a non profit organization to help you fix your credit card woes today. It pays to be financially stable even if you are young.

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1 comment:

Pretsel Maker said...