Financial Woes

What’s the best business to be in? With the financial crisis around the world and in the United States it has to be bankruptcy advice or debt settlement advice or both. Millions of people have been effected by the credit crunch and their inability to pay back exorbitant loans that they received. It’s the classic old story of taking a loan using collateral that was priced very high before the crunch and later did not equal the worth of the loan. This coupled with much irresponsible spending practices especially on the different credit cards people use. If the individual also has lost his job or is making less money then the entire fragile deck of cards comes down. Of course there are the vultures who seize an opportunity to advise where best to place assets before bankruptcy or how to negotiate with creditors to avoid bankruptcy. This has become a very varied business as many middle men are selling customer leads to law firms and bankruptcy experts. Banks are trying to recover what they can from previous dead loans as they seem to have made a comeback of sorts with the American economy bouncing back of late. Places like Greece and Portugal may bring everyone down though. It may be so bad that even the opportunists will not fare well.