Yeah, consumer credit counseling sucks. We get it. You’ve found yourself stuck deep in debt, and you’re trying to find some way of getting out. If you choose bankruptcy, you will be required to attend a class from a credit counseling service before you can continue with the process. However, the next time you find yourself griping about the experience and how miserable it is, consider how debtors in these countries fare:
India
If you were in debt in India (and the burgeoning middle class in that country does indeed seem to accumulate a lot of debt), you would need to figure out a way to protect your family. Credit counseling does not exist in India. Neither does personal bankruptcy. Instead, if you owe money, you can expect to see demonstrations in front of your home, or you can expect groups of armed bandits to sweep in and beat up either you or your family in order to convince you to pay your debt. After hearing about our non profit credit counseling services, many in Indian wish that they were in America right now.
Dubai
Have you ever heard of debtors’ prison? There used to be such a thing in the United States, though they didn’t exactly provide for the best credit counseling and collection environment. After all, if you were in prison, there would be no way for you to earn money to pay your debts. However, if you were in Dubai today, you might be witness to nationals of foreign countries quietly sneaking out of the country in the middle of the night, leaving virtually everything behind. Forget consumer credit counseling. In this country, if you can’t pay your bills, they toss you in jail until your family coughs up the bucks to pay your debts.
Thailand
Okay, we had to throw in one place where consumer credit counseling laws and personal bankruptcy is actually much weaker than it is in the United States. In Thailand, there is a bankruptcy law. However, it only applies to corporate bankruptcy and, frankly, corporations often get away without paying their debts for years. As for consumers, the debate rages on as to whether to offer personal bankruptcy.
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