Jews, Money and Debt

Over the years we have all come to know that Jews are good with money and history can confirm this.


Jewish Money

Records dating back to Europe in 1300 state that Jews were the only people allowed to lend money for interest. This is because money lending with interest was forbidden to Catholics by the church.

The Christian rulers liked a class of people like the Jews who could supply capital for their use without breaking the rules of their religion. So over time the money trade of Western Europe by this means fell into the hands of the Jews and many Jews became prominent moneylenders.


The Jews today

Jews are the most economically successful group in American society according to leading Economists and are often referred to as "the over class."

Jewish family income is 72 percent more than the national average and even when minority groups are removed from the analysis, Jewish income is 34 percent more than that of Gentile white ethnic groups and although Jews make up only three percent of the population, they account for approximately a fifth of the very rich, i.e. millionaires and above.

What do it all goes wrong?

Remember some golden “Yidisha” rules for debt advice:

* Don't ignore the problem; it won't go away and the longer you leave it, the worse it will get.

* Consider debt solutions such as Bankruptcy, IVA or Debt Management. An IVA can write off up to 60% of debts and is a legally binding solution under English Law.

* Don't borrow money to pay off your debts without thinking carefully. Get advice first.

* Work out your personal budget to send to your creditors, when you tell them about your difficulties.

* Make sure you tackle your priority debts first, for example, debts which could mean losing your home or having your gas or electricity cut off.

* Contact everyone you owe money to and make arrangements to pay a reduced amount that you can afford on your credit debts.

* Get proper debt advice from a Free service such The UK Insolvency Debt Help Service