CONSUMER CULTURE

America is a consumer culture, and when we change what we buy-how we buy it- we will change who we are.  For the credit consumer, change is in shifting the main emphasis, reorganization in needs, wants, spending and over extension.   Consumers should concentrate on taking charge of their financial wellness.  Healing the debt crisis and stretching the contemporary concept of credit, leads first to credit rebuilding and then financial health.

With today’s consumer approach to finance and credit, more and more people are exceeding earned income, therefore exceeding their ability to pay.  In the 2000, the average amount of debt per household was $71,500.00.  With the bullish stock market, on paper, there were 62 new millionaires everyday.  But, that is over.  With the recent downtrend in the market, especially technology stocks, consumers watch a large part of their wealth, which was strictly on paper vanish.  Consumer debt is rising, bankruptcy filings are increasing and the need for debt negotiation and debt consolidation are a much sought after alternative.