Mike and Sea of debt - the debt movie - Debt Consolidation Care Knowledge Base

(Script for "Mike and Sea of debt") (click on the edit button to contribute to the script)

To know about the Movie Cast visit our official blog
The debt movie

(this movie is about happy Mike. He is happy living a simple liyestyle)

Scene 1:

(what is sea of debt?)
Mike: I am happy Mike and I have a magic credit card. I bought a TV, did some shopping and spent on parties. Now I am safely sailing on the sea of debt.

Scene 2:

(boat is leaking)
Mike: (after one month) I am not able to pay some debts, lost my job, sudden financial crisis, more loans, interests … water in Mike’s boat. More and more water.
Mike: Oh! I am not able to handle it well. I need some help.
Payday Loan Lenders: Oh Mike! We are here to help you. No papers, no credit check, nothing, money in 24 hours. Take it and relax.
Mike: You people are so good. I will take the money and will pay you on next pay day.
Payday loan Lender: No need Mike, you can extend it any number of times. We are friends now. (laughs at background)

Scene 3:

(sharks are near you)
Payday Lenders: Hi Mike, Hi Mike, give me back my money you $%$%$ or else I will #$#$$$ you. You son of ^&^&^^^^.
Mike: I never thought you would charge me so much. You were so nice that day.
'Payday Lenders: You &*^&&&, I never give money for free. I will take you to jail. Bloody ^&^&&&*
(Bill collectors are calling you day night, threatening calls).

Scene4:

(Mike shouts for help)
Mike: Help! Help!
Mike: Can someone help me?
Mike: I need help, URGENTLY!

Scene 5:

(DebtCC community member Jessi hears the voice)
Jessi: How is there and what happened to you?
Mike: I am Sad Mike, I am in deep debt.
Jessi: Ok Mike, don’t worry. We will help
Mike: Collection agencies are calling every now and then, I can’t share it with friends, I don’t know what to do?
Jessi: Relax Mike! It’s ok to have debts, there is a way out, don’t worry.

Scene 6:

(Now understand your financial standing)
Mike: When can I get out of debt?
Jessi: There is a process and there is no magic. You need to have patience and act smartly.
Mike: Some websites say that they can eliminate it really quick without affecting my credit score.
Jessi: They are no better than your payday lender friends. Do you want to go with them?
Mike: NO, PLEASE NO. I've HAD ENOUGH.
Jessi: Ok good. Now lets take it step by step.

Step 1: Mike understand your financial position, Income, Expenses.

   * Income
   * Expenses
   * Income - Expenses = money for debt payments
   *

Mike: I know I can have $300 per month for debt payments
Jessi: Good Mike, we are going good.

Step 2: How much debt you have? Interest rate etc

   * Use mydebt section
   *

Mike: I know how much I can pay. Now what???
Jessi: It's time to make a decision. Let’s decide upon the options. Mike you are smart, you can do it!

Step 3 : Make a decision

   * Debt management, Debt Settlement or Bankruptcy

Mike:: Jessi, I don’t understand these terms.
Jessi: Don’t worry, I will help you with each term.

Scene 7: Debt Management Process

(You can pay some money)

Your financial coach Mr Tom negotiates with your creditor 1. And gets your interest rate lowered.
Then with creditor #2 and so on
You pay money to Mr Tom every month (one payment)
Tom pays to your creditors based on some logic.
You keep paying fewer amounts and get out of debt with good credit scores.

Scene 8: Debt Settlement process

(You don’t have much to pay trying to settle it)

You send money to Mr Tom (your financial coach) every month. Tom saves the money in a trust account.
After collecting some money Mr Tom deals with creditors with two option bankruptcy or settlement. Bankruptcy pays less to creditors so they negotiates for settlement.
One by one all creditors are settled
You become debt free after paying the settled payments.

Scene 9: Bankruptcy (Look for bankruptcy video)

For some more information about bankruptcy you can visit debtcc bankruptcy forum.

Who is Mr Tom?

You can also be Mr Tom, doing self help. You can also negotiate with your creditors directly. See our Do it yourself section for more help. Else ask for a professional help.

Take a step today

Now you know what to do. Just knowing what to do won't help, you will have to take a step. It's time to take a step. Evaluate and get a free counseling.