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 Debt collection is not a recent financial activity; it has been around for many centuries and dates far back to 3000 BC at the time of the ancient Sumer Civilization . It gives a kind of timeline to understanding how financial transactions were entered into or made during the earliest days of human civilization. In ancient civilizations, a debtor who was unable to repay a debt was forced into 'debt slavery' along with his family till the creditor received full payback through their physical labor. Before time limits were set on debts, some debts used to carry into subsequent generations and debt slavery continued. However, after the entrance of adjudicators or settlers to resolve matters concerning debts, there have been instances of 'debt forgiveness' where the debt was reduced or the creditor forgave the debt. History of debt collection The earliest forms of Judaism in the first millennium before the Christian Era strictly forbade lending of money and discouraged co...

 Financial liabilities can be very depressing. Debt can even ruin your whole life. These arrears can include household bills, credit card payments, hospitalization expenses, auto loans, and housing mortgage. The problem can be bigger if you fail to resolve any debt issues right away. Your goal should be to settle all these the soonest and remain debt-free. Do some mathematics and figure out how to live within your economic means. Compare monthly income versus necessary expenses. The term necessary refers to essentials such as food, utility bills, medicines, education, loans, and daily apparel. As much as possible, pay your credit card statements on time. There is a problem if expenses go beyond income. It means that you must work harder and earn more. Otherwise, find ways of cutting down on expenses. Then, buckle down to business! Evaluate your financial problems closely. Come up with a logical solution and do not give up that easy. High interest arrears (credit cards) and some l...

 Financial liabilities can be very depressing. Debt can even ruin your whole life. These arrears can include household bills, credit card payments, hospitalization expenses , auto loans, and housing mortgage. The problem can be bigger if you fail to resolve any debt issues right away. Your goal should be to settle all these the soonest and remain debt-free. Do some mathematics and figure out how to live within your economic means. Compare monthly income versus necessary expenses. The term necessary refers to essentials such as food, utility bills, medicines, education, loans, and daily apparel. As much as possible, pay your credit card statements on time. There is a problem if expenses go beyond income. It means that you must work harder and earn more. Otherwise, find ways of cutting down on expenses. Then, buckle down to business! Evaluate your financial problems closely. Come up with a logical solution and do not give up that easy. High interest arrears (credit cards) and some ...