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Many within our society try to borrow their way out of debt. It is possible that this is a form of debt denial. If you borrow money in an equity loan, it could be debt denial. If you borrow money in consolidation, it could be debt denial. Borrow money for any reason often times boils down to what the IRS has aptly labeled, "Gotta have it now syndrome". It may also be debt denial.
For years I have advocated, "If you can't afford to pay for it in cash, you can't afford it." Although operating on cash may be an over simplification when it comes to a house or a car, there is still great merit in the philosophy.
I also advocate that consolidating and or borrowing to pay off debt may or may not be wise. If it is done to get out of debt, it is good. But if in doing so you get deeper into debt, it could be debt denial.
Now Jim Young of Accelerated Debt Consolidation who sees folks steeped in debt on a daily basis adds the same messages in the following article. I am grateful to Jim for the majority of this material as well as a growing number of other articles in which he has been a chief architect.
(http://credit.about.com/od/counselingagencies/a/072005.htm)
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