get out of debt

The Immutable Laws of Solvency

We need to cut up our credit cards now! When I was in corporate banking, the definition of solvency that I used was ‘the ability to meet your debts as they fall due.’ This means that avoiding insolvency depends upon: the ability to meet all your expenses from current cashflow or that you have headroom [...]

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How Everyone (Including The Prostitute) Get Out Of Debt

It is the month of June, on the shores of the Black Sea . It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 Euro note on [...]

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Get Out Of Debt – Your Get Out Of Jail Free Card

There is no doubt that the sheer amount of consumer debt is a problem in the UK ( – over £7,000 for each household in the UK excluding mortgage debt.)  Some entrepreneurs will even be using their credit card to start or support their business.  Others will have raised a personal loan to start their [...]

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Three Ways To Get Wealthy

Many years ago I listened to Richard Dobbins speak at a seminar.  Richard is a highly qualified business consultant.  Among many other things, he bought a publishing business for £1 and sold it for £49 million pounds several years later.  He went on to write an excellent book entitled ‘ ‘What self-made millionaires really think, [...]

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Bookkeeping: The Miracle Of Compound Interest

There is an excellent article at the Motley Fool site entitled ‘The Miracle of Compound Returns’.  In my view the impact of compound returns should be the first lesson taught at school because young people can make the concept work in the favour because they have time on their sides. There are many people who [...]

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Would You Like To Get Out Of Debt?

Thousands In The UK Can Now Get Out Of Debt Who Never Thought They Could As you know from reading ‘The Renegade’ page, I was a bank manager up until 2001, when my disgust with banking finally became too much to bear and I resigned voluntarily.  I determined that my personal integrity was worth more [...]

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