You go to the track to play the horses. Bad day. You lose $5,000. You try to recoup by buying 1,000 lottery tickets. With the 100,000,000 to 1 odds against you so drastically reduced, you now have an excellent chance of winning, don't you? Wrong. Next you clean out your bank accounts, borrow on your insurance policies, take a second mortgage on your house, and go to Las Vegas. Ignoring how storm clouds form, you know you can turn your run of bad luck around and come out of your mire smelling like a rose garden. You drop $10,000 at blackjack, then your last $30.000 shooting craps.

Woe is you You now can't pay your bills. Where do you go from here?

To a credit counsellor, of course. After all, the ad, "Bad Credit? No Problem!," assusres you of a way out, right?

The counsellor says, let's consolidate. You feel you've been suckered. You should have known that the "No Problem" part of the ad really meant, "Big Probem."

Next you visist a bankruptcy lawyer. She says file for same.

You sigh, agree, and decide on one last fling before doing so. You apply for 2 additional credit cards, max them out, and go skiing in Aspen for 2 weeks.

Then you come home and file. Docket day comes and the judge says, hey, wait a minute, there are a few questions. Have you applied for any new credit cards lately? How many charges? What amounts? Over the limit? Did you consult an attorney before filing? Did you make multiple charges on the same day? Was there a sudden change in your buying habits? Were the purchases for necessities or luxuries? What's your current income and prospects? How many changes, and of what nature, in your lifestyle? Gambling? Luxury vacations?

Holed. Cornered. Trapped. You now realize that--while you are an exaggerated case--yours is somewhat typical of today's "no way out" path to Debtors' Prison, and the only thing left for you is to throw youself on the mercy of the court. And, sadly, the newest bankruptcy law is little more than the "Credit Card Issuers' Relief Act." It tightens the screws on credit card debtors to the point many will wish for the blessed relief of a Debtors Prison.

How do you compensate, reform, adjust?

Work hard, long hours. Economize.. Budget. Honor thy debts. Pray.

What else?