How Focusing On Christmas No 1s Could Help Your Debt Journey

With X-Factor heading towards the final, the talk about the Christmas No 1 is sure to be on everyone’s lips now.

If you examine the past singles that have achieved this accolade, there’s a definite mix of happiness and despair – pretty much like the merry-go-round that is debt.

There are the tears of joy and the tears of sorrow, which pretty much sums up life for many people during the festive season.

Lyrics should make us feel something inside, but can they do more than that for those with personal debts that are weighing them down?

After an examination of some of the Christmas No 1 hits, we think the answer is ‘yes’, so here goes.
 

Bohemian Rhapsody – 1975 & 1991 – Queen

Is this the real life
Is this just fantasy
Caught in the landslide
No escape from reality

Freddie Mercury could be seen to have summed up the slide into personal debt that many people with personal debts experienced. Debts can suddenly mount up from seemingly nowhere, thanks to an unforeseen circumstance or large item of expenditure.

Once the landslide has begun, it’s difficult not be become buried by them. The best advice comes in the next line of this song – Open your eyes, Look up to the skies and see”. Admit to your personal debts and inability to cope as fast as you can, or matters will only get worse thanks to late payment charges and interest payments.

Return to Sender – 1962 – Elvis Presley

Return to sender, address unknown
No such number, no such zone

Once you’ve had a few payment demands through the post, the last thing you probably wish to do is open them. Somehow, it’s easier not to face your personal debt situation in black and white – and often red. Debtors take all sorts of action to avoid facing up to the truth, including returning demands to sender, to try to create a belief that they are no longer living at the address on the debt records. This won’t work. Getting professional help will.

We Can Work It Out – 1965 – The Beatles

Try to see it my way
Only time will tell if I am right or I am wrong
While you see it your way
There’s a chance that we might fall apart before too long

Personal debt is one of the biggest wreckers of relationships, so if you do have a big debt problem, the best way to keep your relationship together is to share the problem, be open about it and get help.  Rowing and insisting that ‘things will get better’ when they clearly won’t, will only drive a wedge between you.

Pride comes before a fall and debt that is left to mount up to a level that you simply cannot clear will lead to the worst fall of all, as you are likely to go bankrupt if you leave things too long. Personal debt problems can be worked out, if you get professional help from a trained debt adviser.

When You Believe – 2007 – Leon Jackson

Easy to despair
When all you hear is fear and loss
Easy just to run and hide
Too frightened to begin

These words from this Christmas No 1 really should shake you into action, if you haven’t got a partner to do that for you.  It’s easy to bury your head in the sand, or under the pillow and just fear what lies ahead but being too frightened to begin the road to debt recovery will get you nowhere. 

Mad World – 2003 – Michael Andrews & Gary Jules

I find it hard to tell you,
I find it hard to take
When people run in circles it’s a very
Mad world, mad world

If you aren’t sharing your personal debt burden with anyone, you may well be living in a ‘borrowing from Peter to pay Paul’ world, where you are paying off one credit card bill, only to then spend on another, in order to get some sort of cash fluidity and keep up the appearance of ‘doing OK’.  This is truly a mad world, as you aren’t tackling the problem at all, just running on the spot.

Move forward with your personal debt crisis by taking action and talking to a highly qualified debt adviser.  Once you have received some debt counselling, you should be able to stop running around in circles and plan a debt management strategy.

I Want To Hold Your Hand – 1963 – The Beatles

Yeah you got that something
I think you’ll understand
When I say that something
I want to hold your hand

If you are in personal debt, you are not alone – not just because there are millions of people in the same situation, but because debt advice is always at hand. One call can put you in touch with a debt adviser who will understand your situation, thanks to their enormous experience and knowledge of the world of personal debt. They won’t judge you and will hold your hand to guide you through your debt recovery process, if you open up and let them do that.  Take some positive action and pick up the phone.

That’s My Goal – 2005 - Shayne Ward

I’m not here to say I’m sorry
I’m not here to lie to you
I’m here to say I’m ready
That I’ve finally thought it through

To really sort out your personal debts, you don’t just need to be sorry or repentant - though the majority of debtors are both of those things – but you do need to be ready to move forward, accept that this is going to take some sacrifice, but see that it will truly be worth it once you’ve got your life back.

Once you have spoken to a debt adviser, you can go away and really think it through and consider the advice that you have been given.  It is then up to you to accept it or reject it, with no pressure.  It has to be your decision to move on and try to clear your debt.  Unless you are in this frame of mind, your debt recovery strategy might fail at any number of hurdles, whereas those determined to get out of debt, will find their journey to a debt-free life much simpler and easier.

Hallelujah – 2008 – Alexandra Burke

I did my best, it wasn’t much
I couldn’t feel, so I tried to touch
I’ve told the truth, but I didn’t come to fool you
And even though it all went wrong
I’ll stand before the Land of Song
With nothing on my tongue but Hallelujah

When it comes to sorting out serious personal debt, you will need to face your creditors and lay your finances on the table.  It may be that you have failed to maintain a Debt Management Plan’s payments and cannot have a dialogue with your creditors now, because they will not accept what you tell them.  In this case, you may be better served by looking at an IVA Individual Voluntary Arrangement that can be negotiated on your behalf by a debt adviser.

The trained debt adviser will take over the dialogue with your creditors and you will not have to have conversations with them on the phone, or answer their demands any more. Having this burden lifted from your shoulders really can be a moment to say Hallelujah, even though you will need to tighten your belt in order to get yourself out of debt once and for all.

Your payments should become much easier to make, if interest charges are frozen, and your desire to tell the truth and try to show serious responsibility for your debt history will be appreciated by your creditors.

Can We Fix It? – 2000 – Bob the Builder

Bob the Builder
Can we fix it?
Bob the Builder
Yes, we can!

Even if you have debts amounting to over £10,000 or £20,000 pounds, Bankruptcy is not an inevitability, if you are able to afford some level of debt repayment each month, whether you are Bob the Builder, or Janet the executive.  This does not mean making the minimum repayment currently stated on your bills, but being able to make a much-reduced payment on your unsecured debts. 

We have case histories aplenty to show how people with what you might call massive personal debts have been able to avoid Bankruptcy by looking at a less draconian measure, such as an IVA.  These people typically have very happy tales to tell after 5 years of paying off their debts and completely addressing them. This could be you.

Lonely This Christmas – 1974 – Mud

Try to imagine
A house that’s not a home
Try to imagine
A Christmas all alone

Imagining what might happen if you do not take action on your personal debts can often be the best catalyst to make you pick up the phone.  Ask yourself whether you could stand to lose your home, if you do not face up to your debts and consider what would happen if your relationship fell apart because of debt. 

Make getting debt advice not just a January resolution, but your Christmas No 1 priority and a feeling of huge relief could be the best present anyone gives you this Christmas.
 

Moneyextra.com recommends you take independent financial advice before acting on any article

2011-12-09 16:20:44 © Moneyextra.com