It is very common when consumers find themselves in a bad credit situation, drowning in debt and seeking any form or relief, that they will first set a goal to pay off their debt and get back on track. Then, month after month, they find themselves paying credit card interest, late fees, loan penalties and other monies that get in the way of their progress and dampen their spirits. Again the consumer finds themselves disheartened and overwhelmed by debt after making an honest effort and finding no results.
The second most common situation found when a consumer is digging themselves from the pain of bad credit and debt is again they set a goal of paying off their loans or credit cards, and are managing progress from month to month. Then, as they near their goal of paying off the credit card balance in full or completely paying off the monies from their loans, they suddenly lose momentum, slip and find themselves back in the anxiety of debt to repeat the cycle anew.
Why are these situations so common and do so many consumers find themselves in the bad credit debt anxiety cycle? The problem in these situations is the goal is set to 0. These consumers set a goal of just getting back to financially neutral, to no longer be wracked by debt anxiety over outstanding credit. Sure it feels like a worthy goal at the time when all your bills are hanging over and you are desperate. But in truth, there is nothing inspiring about getting back to 0 and your mind knows it and sabotages your efforts. Your goal is too small.