Living on a Tight Budget (1/3) | Mary Hanson Show

“The Mary Hanson Show” is the longest running cable program in the United States, having been on the air regularly since 1980. In this programme Mary interviews Darryl Dahlheimer from LSS Financial Counseling Services (www.lssmn.org/debt), who discusses debt management and how to live a more economical lifetsyle. The programme was recorded in November 2008 at MTN, Minneapolis.
Video Rating: 5 / 5

There were several underlying reasons for the crisis in the microfinance sector; however, over-borrowing by customers and over-lending by MFIs were at the base of the problem. This led to defaults on loans and some instances of coercive collection practices by some MFIs. The problem of over indebtedness of customers or over extension of credit by MFIs can only be resolved jointly by the customers and us (MFIs). That is why we introduced Diksha, a Financial Literacy Program on Debt Management. The first part of the program is a 30-minute dramatized film (Sankalp – The Resolution) of two MFI customers who fall into the trap of excessive borrowing & ghost lending, and have to face the consequent dangers. This is to create awareness of the problem among millions of poor across the country and is available in 10 Indian languages. This is a 10-minute trailer of the film. Contact Ujjivan, Lok Capital or Unitus if you need a copy of the film.

Should I file for bankruptcy or work with a debt management agency?