Investors Daily

The problem is that real estate bubble exploded and the property values tumbled significantly making not only an impossibility since now their home is worth less than they have borrowed. Now, when these mortgages begin to readjust to higher rates while the property values continue to diminish an economic episode of catastrophic proportions occur finding us in over 1.4 million US properties subject to foreclosure activity. Clearly these borrower were not informed about a mortgage payment protection policy when they first got their mortgage. Again, it is not too late. If you have not gotten such a policy you still have time.

As the cost of cars continues to skyrocket, creditors are increasingly looking to seize them.  Therefore, if you have a lot of debt, one possible consumer debt solution would be to lease a car rather than obtain a car loan. Among other things, you will not need to worry about your creditors putting a lien on the car. 

That said, if you purchase an old car with a low book value, your creditors may not waste their time trying to seize it.  While you may not like driving an old car, at least you will have piece of mind knowing that you own it.  At the same time, you may even find that an old car that was kept in good repair will actually run better than most of the new cars on the market today.