It's hard to imagine doing business today without incurring debt. The company gets its start-up capital, and the consumer gets that coveted loan. The business team is filled with enthusiasm. The company enters the market with flamboyance and prominence, that is... until it realizes that almost all its profits belong to the entity that furnished the startup loan. The business then realizes it has become a slave to the lender. The consumer is delighted to have that new car, property, or house. They put on the image of prosperity, that is, until the bank threatens to repossess the asset due to non-payment.
The consumer then realizes he or she has become a slave to the lender.
Whether you're an individual consumer or an entrepreneur that runs a business, your story doesn't have to end in financial defeat. The principles in Debt & Credit Laws aim to save you from making the debt and credit mistakes that lead to bondage and failure. Please consider carefully these principles as you read, then research them personally. Enjoy the freedom they are designed to produce.
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