Buhay Petiks

Debt problems are symptomatic of our “buy now, pay later” consumer society. Many people are now buried in debts up to their eyeballs. Being in heavy debt with no apparent means of repayment creates chronic psychological pressures (Beckley, No Down Payment Formulas, 1985). An overemphasis in posteriors rather than posterity will make one vulnerable to predators in the same manner a complicated conglomerate of legal structures may end up causing severe confusion and anxiety. Prescott explained that a properly designed structure that functions because of its sound legal principles is more protective than one that is overly complicated. Debt-defying acts may send you to jail if you abscond with your property to the prejudice of your creditors. Fraudulent or culpable insolvency is a crime in the Philippines. Extreme circumspection must be observed by anyone engaged in asset protection planning. “He sows hurry,” wrote Robert Louis Stevenson, “and reaps indigestion.”