“I love new clothes. If everyone could just wear new clothes every day, I reckon depression wouldn’t exist anymore.”
Do you know who said it? This is Rebecca’s saying in the movie, ‘Confessions of a Shopaholic.’ Right, as the quote just directly tells you, ‘new clothes’ mean a lot in Rebecca’s life. Actually they are undeniable, making her struggled with debilitating obsession with shopping.
On her way to a job interview, Rebecca found a green scarf on sale. Of course, she could not just pass it by. As she made a payment, Rebecca’s credit card was declined. However, Rebecca could not give up buying the scarf and thought what she could do. By an unexpected luck, she got $20 in cash from somebody unknown, and bought the scarf. Well, I am not telling you the details about how she got the money from the unknown. I will leave it on your side.
As this movie is a romantic comedy film, it does not seriously deal with Rebecca’s financial situation. Even though Rebecca faces a sudden collapse of her income source with her credit card declines, she is not trapped in a financial challenge. Rather, she gets a job by chance, and she is described as a cute lady who is so into fashion items.
However, what if there is someone really like Rebecca? Probably not as much as Rebecca, but certainly there are some people who are so keen to overspending. Credit card is one of the vehicles that they are abusing. There is a commonly known debt cycle experienced by many individuals, which amounts to a part of household debt issues. With accumulated delays for credit card payment, an individual credit rating might be downgraded. Sometimes people are looking for a quick remedy from an illegal private loan. However, it even worsens the situation, as interest payment for such a loan is too high.
Then what would be a feasible way-out from this situation? Before letting yourself a debtor, apply for a pre-workout program by Credit Counseling & Recovery Service (CCRS, http://www.ccrs.or.kr/) . If a late payment is continued for less than three months, CCRS offers this service. This is for the purpose of preventing individuals from being at default. Services include reducing interest rate payments, extending liquidation period and rescheduling debts. There have been 39,675 cases of pre-workout programs since April, 2009, which amounts to KRW 1.649 trillion in total.
The best option is not becoming a shopaholic or over-spender like Rebecca. However, once you have become so, the second best option seems to be ‘applying for a pre-workout program by CCRS.’ Keep your wallet tight during this weekend. Well, I am not saying that you should not buy anything. I am sure you know what I am saying now. Have a good weekend.
* Other previous posts about CCRS