Tag Archives: abuse credit

Reflection: Avoid Misusing Credit

misusing credit

Recently, a Virgo Philosophy staff member recounted a disturbing story. A neighbor was experiencing the displeasure of foreclosure on their home. The house was an heirloom and generations lived in it since the late ’60s. Incidentally, the primary homeowner fell ill so the title deed came to be in a family member’s name. This member didn’t live in the house but had a love for the “finer things” in life, i.e. fast cars and luxurious homes. So, they took a loan with the house as collateral. They lagged on their payments to the bank and now the bank is trying to sell the home. It is not hard to imagine the anguish and accompanying despair of this family. We need to make due diligence to avoid such scenarios.
Continue reading Reflection: Avoid Misusing Credit