by Tom Koecke

Created on: July 24, 2007   Last Updated: September 19, 2008

Mark Twain once said, "it is easier to stay out than to get out." Alas, it was written many years ago, so people today may not understand its 'worldly nature' and 'ageless relativity.'

What I just said is 'it applies to everything in the world all the time.'

A test of logic is to consider the inversion: "it is more difficult to get out than to stay out." That is 'the definition of a trap!'

How would one (person or family) get out of a 'trap of debt?' I may be able to help you, but it will be up to you, not me, whether any of this will work for you.

Will Rogers once asked "if stupidity got us into this mess, why can't it get us out?"

If you believe I just called you stupid, then reconsider what Mr. Rogers meant. He didn't mean what you thought he said; he meant what he said. Mr. Roger's quote was referring to Congress; they are the ones who continue to be stupid about this. Taking responsibility is going to be very important in this, and the knowledge gained can be applied to 'everything else in the world all of the time.'

Presuming those who ignore the problem won't read this, I've left 'continued ignorance' off the option list. A person or family in a debt trap likely has been ignorant. Ignorance, when applied to something that is in motion, or at a standstill, leaves that thing in the same motion, or at a standstill. Inertia laws suggest that, when this occurs, that 'something' needs an outside force in order to change its current course, or lack of course.

So, what might you do?

1. One might adjust lifestyle and reallocate resources, and struggle out of it.

2. One might address the problem and offer compromised terms directly to creditors, and work out of it.

3. One might seek the assistance of a pro-rating agency or, in worst case, file 'the B-word' to force compromise on creditors, and bail out of it.

STRUGGLING

Struggling, in humans, is the dynamic that, when exercised, develops strength and endurance. In budgets, though, the tightening of the belt, and shedding of weight, comes first. It starts by 'reducing the buts:' if adjustments, eliminations, and reallocations are rationalized, rather than based on true need, the exercise will likely result in futility, and not a fit, trim, and healthy budget.

'Intensity' is an important element in exercise; 'intensity' is 'how often' multiplied by 'how long.' Intensity would, then, be increased by 'exercising more often' or 'for longer periods of time,' and 'exponentially so if both are increased.'

Finally, discipline will be

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