My Indian friend told me that everyday is Deepavali if he never owed the banks money. He went into debt as he borrow money to help his relatives to tide over the money crisis.
I always lend him $50 monthly to help him in anywhere I can. He will usually return me when he get his bonus.
During Deepavali, he will not go his relative houses even though they call him. He does not have the money to give the Hong Bao to the children. But of course he will not tell his relatives. This the reality but others may not realise it, as they cannot see the bigger picture of another person life. He still need the dignity and the best way to escape is work or away from the family.
This is the true picture when people goes into debt due to helping people, healthcare bills, household, poor money management or any other reasons. It will be the lowest point of their life. But in recent years, there are mechanism available to help them to get out of debts if they borrow from the banks.
He told me everyday is Deepavali if he is not in debt and have sufficient money for his family.
Credit Counselling Singapore is one of the non-profit organisation that is helping thousands of Singapore Residents to get out of debt. The only catch is you must have a permanent job with an income and your debts are from the banks.
Visit CCS to find out more》》》