Today s society has created an extensive use of and a dependency upon consumer credit. Installment buying, which covers everything from automobiles to weddings, has allowed a greater portions of the population to enjoy a higher standard of living. Unfortunately, this has created problems for some consumers, often through no fault of their own.
Many families find themselves facing acute debt problems.
They struggle to satisfy their creditors and to make ends meet. This often results in worry, jeopardy of job and reputation and frequently the disruption of the family as a unit. Over-confidence, low resistance to pressure selling, or a change in personal circumstances increase the probability of a family experiencing a consumer credit problem. In addition, the spiraling costs of inflation are causing families with formerly sound budgets to find themselves overburdened with debts. Without help in dealing with these problems, the individual consumer faces the danger of family and financial ruin.