Check My Debt – Writing Features

Check My Debt - Writing Sample‘Check My Debt’ Writing Sample For Writing Features

‘Check My Debt’ is a writing sample for writing features. My intention is to leave you with a feel of the practical side to the writing exercise. 

BETTY from Kent was snuggling up to her childhood pal, her cushion. Suddenly, a very loud sound startled her. The bailiff’s heavy pounding on the door demanding to be let in startled her. She was so engrossed with watching her favourite TV show The Apprentice. She told herself she wasn’t going to let him in, not after what she overheard.

The other day, Betty was on the train travelling to Leeds when she overheard two women in a conversation talking about bailiffs (enforcement agents). One of them said it can be a stressful experience when bailiffs visit your home. However, you need to know you have rights and you shouldn’t be bullied.

As long as you don’t let a bailiff into your home, you will be fine. You are better off that way. Sort your debt while keeping the bailiff outside. Make sure you keep all your doors locked and windows closed. This will stop the bailiff because the law prohibits them to come into your house when doors are locked.

What the debt problem is like on a bigger scale?

Betty is one among a multitude of girls who are so adamant to get their hands on every latest designer bag, be it an iPad or latest iPhone. Being in possession of a credit card must have fuelled Betty’s spendthrift habits. She was unstoppable. She could use the credit card anytime for shopping and even managed to get a personal loan. Using the credit card became an everyday routine of Betty’s life. It went on until her everyday form of borrowing had gone bad. Then, she started to default on her loan payments. Explaining why the bailiff was knocking at her door.

Don’t you think before she signed for the credit card Betty should have done something?

It would have made sense had Betty sat down to think properly if she really needed to borrow money. She fell in the same trap as many people who choose to pay back the money they have already borrowed.

Looking at the world retrospectively, why do people get into debt?

The truth is people get into debt as a result of being lured by various things. During times of economic uncertainties and rising bills, most people would find borrowing a sensible thing to do. Yet others want to keep up with appearances. They hate to lag behind what is trending. So, they compete with their friends who ironically, are also drowning in debt.

Most people who compete have low self-esteem and compensate by buying things impulsively. The results are disastrous. They end up plunging deeper into credits.

Some people started businesses to become self-employed. Starting a business is a life shifting process which can provide unreliable income. To cushion themselves from the economic hardships, they turn to debt.

Redundancy and debt are interlinked but there are 2 sides to it. You may have been made redundant and now struggle to make payments on your existing debts.

Redundancy can also mean that you are no longer having enough money to pay for your living costs like bills, food and travel.

According to the Financial Times (2018), student loans were the major culprit for leaving students in debt. ” The average graduate from a three-year degree carries over £50,000 of debt and faces high-interest rates. Some students would have failed to secure scholarships, which don’t need paying back.

At university students got entangled in financial problems due to peer pressure. Many try to live up to the expectations of their peers by going out of their way to shop for expensive items. To be identified with their mates and to feel part of young people, they use credit cards for buying expensive things they can’t even afford. It all ends up in the increase of debt considerably.

Getting married while you are in debt

Some couples are getting married while they are already in debt. Entering into a marriage in such a way can be overwhelming. The pair will spend much time trying to figure out how to manage their money crisis instead of focusing on their financial future together. Such a couple can’t plan to buy a house, car or make a major shared purchase when they are in debt.

Having a baby without working out your budget also is a cause of the debt crisis. Having a baby is one of the greatest achievements in life. However, without planning in advance you will not fully enjoy your parenthood. Your finances play a massive part in the preparations you need to do for your baby.

You need to get rid of debts that are manageable before you have a baby which may become unmanageable when your income decreases while on maternity leave.

Unfortunately, some people leave it too late. They take action after the baby has arrived.

Divorce and its break up costs can all prove too challenging leading to bankruptcy.

Coping With Debt

All hope is not lost though. You can do something to get out of a debt crisis. The sooner you get money advice service, the better. If you do not take action your creditors will get in touch and expect you to begin to make payments directly to them.

For people living in the UK, the Citizens Advice Bureau is one organisation to turn to for help. Get in touch with your nearest Citizens Advice as soon as you can.

CAB will carry out a risk assessment and provide you with information based on the nature of your problem and how far you are able to manage it yourself or signpost you where to get better help.

In the case of Betty, she had debt totalling around £ 35, 000.00. She had kept up with her mortgage, council tax, university loan payments and utility bills. Her income was around £ 25 000.00 per month.

Recently, she had been made redundant. She had found a different job with low income just to get on. Explaining why the bailiff was pounding on her door.

In conclusion, this is an article you can submit to a suitable publication. Its theme is coping with debt. Circumstances leading people into debt vary and include: starting a business, redundancies, student debt, getting married, having babies, and divorce costs.

Debtors are encouraged to seek financial advice to clear their debts. Other options include changing spending habits through strict budgets and cancellation of direct debits and store cards.

The average credit card interest is reportedly at 16.9 per cent. Thus,  credit cards must be discarded. Negotiations with creditors for reduced mortgage payments are relevant.

If you have any questions in relation to my post, ‘Check My Debt’ Writing Sample For Writing Features, please leave them below. I will be more than happy to respond as soon as I can.

2 Comments to “Check My Debt – Writing Features”

  1. Muno says:

    Thanks a lot for this article that I’ve come across at the right time.
    You have some really useful advice here, Femia, about debt and use of credit cards.
    I’m joining university life this coming year. And thank you for warning me against living a spendthrift life.
    I will live within my means and credit card is a no go area for me. Cheers Femia.

    1. Femia says:

      Hi, Muno, many thanks for stopping by and for reading my post, ‘Check My debt- Writing Features.’

      I’m glad you enjoyed reading it and also you have learned a few lessons.

      I can’t agree with you less on not using a credit card.

      It is useful when you really need it. Having said that it’s tempting to go on a shopping spree once you have it.

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