Viewing Money Lenders in a New Light
By: ajeetkhurana | Posted: 01st July 2007
Think of money lenders, and the first name that comes to mind is that of Shylock, the Jewish money lender in Shakespeare's popular drama, The Merchant of Venice. Shakespeare's money lender characterized the old stereotype prevalent at the time that money lenders were monstrous and sadistic people, landing up at the most inopportune times like leeches to sap the money of the unfortunate borrowers.
Thankfully, this stereotype has been cut down to a large extent. Perhaps part of the reason is that the moneylenders in the world of today are not individuals. Instead, they are corporations. It is a lot more difficult to associate human failings such as dislike, bitterness, and the desire for revenge, with corporations. Sure, they may be made up of a number of individuals, each of whom has a distinct failing. But despite that, the general belief is that the sheer numbers of people will keep the organization fair.
In this age of global communication, everyone seeks out loans in an attempt to afford more and more things. Thanks to the explosion in the field of loans, we can now make use of things that would otherwise have remained beyond our reach. These days, we can think of buying the dream house without those decades of work life. In the twenty-first century, studying in the best universities is not as inaccessible as it used to be. Who should we be thanking? The money lenders of in today's world -- the finance companies.
Of course, just as we cannot associate human failings with corporations themselves, should not expect them to be kind and generous either. All they are doing is business, and we should be professional in our dealings with them as well. But what if you just cannot collect the money to repay a particular loan?
Relax! Life is no longer that hard for a defaulting debtor. If you find yourself in such a situation, you should contemplate about going in for an Individual Voluntary Agreement (IVA). By doing this, you are getting into a legal agreement with your creditors, promising to pay them an amount that is feasible as per your monthly income, for a period of five years. Thereafter, the remainder of the debt will be written off.
It does sound like a bad deal for the creditors of the world. But then, not just anyone can consider an IVA for debt relief. To apply, you have to be a full time employee, and there will be checks on the inflow and outflow of cash. And if you are disturbed that you will not get loans in the future, don't worry. Even if you have a bad credit history, there will be firms trying to sell you adverse credit loans.
Ajeet Khurana recommends: debt relief, IVA, and adverse credit loans.
This article is free for republishing
Printed From: http://www.articlealley.com/article_180318_19.html
Back to the original article
Tags: borrowers, creditors, debtor, bitterness, finance companies, twenty first century, stereotype, money lender, money lenders, dislike, world of today, sheer numbers, global communication, individual voluntary agreement, moneylenders, leeches