THE PROBLEM

I have set up My Debt Free Solutions blog to discuss and share my crusade to help individuals, families and communities form debt bondage. My name is Tim Thirft, I am a certified licensee of Financial Freedom International, Inc. Our company has serviced over 50,000 satisfied clients since 1987.

According to the Federal Reserve Consumer debt (excluding mortgage debt) reached a record $2.019 trillion in February 2004. That’s approximately $19,000 per household in credit cards and car loans. 42% of Americans pay only the minimum or no payment at all on their credit cards providing $12 billions in late fees and other penalties to their credit card companies in 2003. This level financial bondage has led to a record 1.7 million bankruptcy filings in 2003. In addition to record levels of personal debt and bankruptcies, the nations savings rate has dropped to just 2% of after-tax income and about 43% of American families spend more than they earn each year. This means that many people lack the resources to deal with financial emergencies, much less eventual retirement. Personal debt and financial mismanagement are the reasons that only 2% of Americans are financially independent and comfortably able to retire at age 65.

I believe this to be more than a problem. I believe this to be a national crisis. At Financial Freedom International, Inc we recognize this crisis and intend to be part of the solution.
in later post I will be sharing with you our products and services at FFII. I hope that you will participate with feed back and share with me your story and experiences with debt bondage.