Deflation personal debt

During deflation personal debt can be a serious roadblock to your deflation survival.

In his best-seller Conquer the Crash, Robert Prechter talks about deflation and personal debt in chapter 29, Calling in Loans and Paying Off Debt. Of course, being debt-free is the optimum deflation personal debt strategy.

Prechter says, "People and institutions that best weather the system-wide debt liquidation of a deflationary crash and depression are those that take on no debt and extend no risky credit. This is the ideal situation for most people most of the time, anyway."

Deflation personal debt: Handling Credit
Have you lent money to friends, relatives or co-workers? The odds of collecting any of these debts are usually slim to none, but if you can prod your personal debtors into paying you back before they get further strapped for cash, it will not only help you but it will also give you some additional wherewithal to help those very same people if they become destitute later.

Deflation personal debt: Handling Debt
If possible, remain or become free of personal debt during deflation. Freedom from personal debt makes you freer, period. You don't have to sweat credit card payments. You don't have to sweat home or auto repossession or loss of your business. You don't have to work 6 percent more, or 10 percent more, or 18 percent more just to stay even.

Decreasing or eliminating personal debt during deflation could be critical to your deflation survival.

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