By John Long
Imagine you have a neighbor who one day pays you a call. He’s in trouble, he confides nervously. He makes a good paycheck, but his multiple mortgages and credit card statements are all past due. For years he’s accumulated personal loans and borrowed from loan sharks and lost repeatedly to bookies. He is, in short, swimming in debt. For the moment, he’s handling it all, but he’s afraid down the road a catastrophe awaits. What should he do, he asks?
Long is a Roanoke Times columnist and director of the Salem Museum.