Using Your Exemption
It is recommended that if you want to try to utilize these instruments, go slowly. Try using these instruments on debt that you already have and may be having trouble paying off. You won’t have much to lose by trying these techniques on existing, unsecured debt.
It is also suggested that you not issue very many of these instruments within a short period of time. Again, take it slowly. Learn what you are doing. Try issuing just one of two and see how the “creditors” respond. Dealing with creditor who may not like your instrument (more on this later) can be very time consuming and emotionally draining. I have heard of people, who were in serious financial trouble, who issued a dozen instruments within a few weeks and quickly.
became overwhelmed just dealing with paperwork of all the creditors. Even if you are in very serious financial trouble, go slowly and tread softly.
It would definitely be a bad policy to go out and create a lot of new debt or attempt to buy everything you ever wanted using these techniques. Prove the concept to as workable for yourself first. It would be a real tragedy to create a lot of new debt that you might not be able to “pay” (or discharge) if you can’t make the concepts work. This is also a philosophical issue that stems from my belief system. There is a fine distinction between what you want and what you need. The human heart or spirit (depending upon the terms you use) can be very deceptive. We can easily convince ourselves that we need a 6,000 square foot house when the needs of our family could easily be met by a 2,000 square foot house. Examine your motives when you want to use these instruments. I believe it is all right to get the things you need to survive; but, when you start trying to get all the things you simply want, you can damage to your own spiritual well-being.