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Should You Discuss Your Debts with Your Friends?

Who says you shouldn’t? The answer depends on you.

Debt is something that many people don’t like talking about. Discussing it with their friends or someone they just met is a big no-no, a taboo.  Of course, it’s unlikely that you would wallow about how much debt you’re in with someone you have just met at a party. But how about with friends? Maybe so, but not that quite yet. In fact, according to the following article, people are less likely now than they were five years ago to talk about their debts.

According to studies, backed with variables and logistics, younger adults are more open to discussing about their debt. Although, overall, debt discussion still remains to be largely a social taboo, it’s great to hear that the younger generation is slowly deviating from the old way. People should be encouraged to talk about their debts openly, maybe not with the guy that has a piece of his last bite of food dangling from the corner of his mouth or the one you just met at a bar last night whose name you can’t recall. It is okay to talk about these things to people you trust, like a loved one or a closed friend. You can read more about this interesting discussion in this article.

But do you know who you should really be talking to about your debt problems? Debt attorneys. It is important that you seek professional help especially if you are really in a big financial trouble. Make sure that you reach out to an attorney who has an extensive knowledge and experience in negotiating debt. You should at least know your options.  An attorney can walk you through those options to see what will work best for you.

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.