Tag uae bank debts

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First, Let It Sink In….

• Take a few Steps backwards and Reflect – If it means distantiating yourself from the reality for a day or two, then just do it!
• Don’t allow yourself to slide into Emotional Turmoil – Avoid saturating your being with Emotional Fear, because what you fear, you focus on and unfortunately it grows beyond measure and will eventually consume you whether it’s good or bad, so take heed.
• Start a regimental Routine of Daily Gratitude – OK, so you think it won’t change the situation? Actually it will and it will change you too, especially the perception of the dire situation that jumped into your mind, when you were made redundant, correct?
• Keep Calm – Learn to master the Art of Meditation to release any resistance that can pile up in your being and that will start building walls that you don’t need right now!
• Focus and gain Clarity – Don’t allow anything or anyone to destroy your peace at any given time during this process.
• How do you recreate your life? – I will tell you, with your Thoughts, Words and Actions, so start being very aware of this, as it has the most powerful outcomes and can be devastating when you find yourself in a dark hole.
• Activate your Plan – Review your current financial situation, your current liabilities and how you can downsize your current lifestyle to accommodate the next 6months of expenses that must be met.
• Opinions are irrelevant – Forget about the people and what they will say, as you are the only one who pays your bills, don’t ever forget that!
• Approach your Creditors – As early as possible and try to negotiate to reduce your monthly payments at least for the next 12months, affording you the opportunity to not only maintain your payments, but also to stay in a ‘Safe Zone’.
• Do your calculations carefully – If you must, then consult with expert Debt Remedial Specialists, who will tender the best experienced advice and it could save you years of aches and pains, as they do this work daily, so they can project the possibilities for your situation.
• Now focus on your Resume – Check if it is updated, check your Social Media Profiles and commit to the time to apply the relevant amendments, so you remain marketable and can confidently apply for new opportunities. During this time you tend to forget about all of your experience, what value you can contribute, because you are only focused on the very bad reality, which, if you change your attitude, it can change in less than 24 hours, but as humans, we never have the ability to comprehend this very important aspect of the Law of Life.
• Once you are ready – Earmark the companies you are interested to join and start approaching them, calling, sending your resume and don’t give up!
• Review your Options – If you want to venture into a new business and you not only have the experience and acumen, but saved investment funding, then realize maybe one door closed so that the other can open and you can actualize your future dreams! You don’t know that until you try and risks are a part of building our dreams!
• Convene a Family Meeting – It is important that all immediate family or your household understands what the current situation is, so that you secure everyone’s undue support and continued love and encouragement. During these times, the support factor is key, because if you are alone it can be tough, but then the only band aid to apply is continuous emergence into self-love, because don’t imagine you will get it from anyone else, because most of the time, when the bucket falls out, you stand alone, so inner strength and faith is key, no matter who you are…
• Gratitude…Gratitude…Gratitude...Is going to be the Golden Key to change your world, don’t believe me, try it for yourself, it’s how I live my life. Start a new routine of Daily Gratitude, get a Journal, write down what you are Grateful for and what you want, hold that vision and believe in what you desire, because when you do, it will have no option but to show up for you!
• Mastery – When you can Master all key components of your life, you have won the battles, sometimes before they begin and find yourself years ahead of anyone else, if you follow these steps.

The Change we seek in our lives, we can find from within ourselves, playing the ‘blaming game’ until our souls and spirits are dead, is the wrong move and will consume you before you even know it! Blame yourself for not accumulating the much reminded of ‘nest egg’ for the inevitable, because we never assume it will happen to us. So taking ownership and responsibility is the first step, embracing that and then moving forward with a new vision, is what will transform you and your situation.

People facing any critical situation, not necessarily debt, it could be the sudden loss of a loved one, a terminal illness, any form of what we consider as ‘Bad News’, the key is not to focus on it, direct your future vision to a more positive path and go with the flow. Nobody said don’t grieve for any loved one who passed, or for a bad situation you find yourself in, because grieving is an essential part of healing, so give yourself the time to heal, because nothing great, spectacular or authentic was derived from any form of negative space.

People ask, ‘How do you get?’ and the sure answer is ‘By Giving more Value than you get, not necessarily monetary’…that is the only Secret…

Many Debtors need to transform their mindset, because they find themselves facing a dire Debt-Crisis, with no visible hope, so their Debt Recovery need has a very high severity, but their mindset is in ‘Trading Mode’, because they cannot equate the invisible Professional Service to not receiving any visible tangible Value when they are informed about required to pay Professional Service Fees.

Your situation is in a lack, so you need to understand that your mindset is similarly aligned and although the issue of Debtors facing this problem could imply that they really do not have the funds to meet the Service Fees, most of the time they are able to contribute partially, but it is the unwillingness not to concede to co-operate, where it is common practice for their response to be that we should first complete the service and then they will meet the Service Fee payment.

Our response will always be that we are not a ‘shop on the corner’, but are driven to save lives and put them onto their path of Debt Recovery, where our business has solely depended on referrals from existing Clients, else, we would not exist.

Very key however, is the Lesson of Debt, which dictates that as the Debtor, these are the sacrifices to be made to ensure you learn hard lessons for the future, because anything for free, teaches you nothing and simplifies it for you to repeat the same mistake multiple times in the future, as you have not appreciated the value attached to the rendered service. But anything you pay for, you will never forget and here lies the Lesson.

Many times, Debtors decline to pay Service Fees, they saunter off to attempt the process themselves, finally come into contact with someone who promises to complete the Remedial Task, at perceived lower fee pricing, but they end up paying more with zero outcome and finally, find themselves back at EFFRS’s door. Then, the lesson is harsher and you can save yourself so much disaster by identifying the right decisions to make from inception. The longer you wait, the more dire the debt situation becomes, as the penalties do not stop, it continues to accrue, placing you in a more dire situation.

That is why the most famous question we ask is how much you value your life, because there is no price we can equate to our existence, well-being and Debt-Recovery, also living with peace of mind and no emotional fear, which is ultimately important. Without making the right decision, you could eliminate years from your lifespan, you just don’t know that daily you are piling up all forms of negative emotions, with no release valve, which finally results in illness or unwellness over time.

Key is also when facing a Debt-Crisis, you are focussing on this negative situation and the lack, where it will eventually grow and consume you, so the bigger lesson is to activate positive processes to eliminate the lack mindset, where approving to pay your Professional Service Fees, is a part of this process, where this helps you to start creating an abundance mindset that does not restrict your progress and Debt-Recovery.

These are all key lessons to share, because if you are unaware of these methods then you cannot progress or achieve again. It is never about the money, but the value that is created, which then elevates you to a new positive state of mind, that will serve you forever, once you get to master this art of deliberate creation.

The past 3 months has been a sobering experience, not only to have seen so many change controls being enforced for the safety of everyone, but also that people actually conformed to those Regulations, in spite of the uncertainty and also knowing that the outcome could have a dire impact on their income for those employed and revenue stream, for the self-employed, affecting their livelihood and those of their families.

Not to mention large Organizations where initially everyone had to adopt the ‘Work from Home’ Policy at short notice, where this one key unexpected change hit home for everyone, but it made us flip into survival mode indicating that as humans we have that inbred adaptable instinct that we really are susceptible to quick changes, that we all possess immense inner strength to adapt at short notice and that instinctively, we knew how to apply our coping methods, flexibility, collaboration and team effort capabilities, it’s like we all simply transitioned on ‘Auto’, which an amazing feat to witness.

We simply made it work, adjusted in an instance, emerged ourselves into the latest trends of communication, online video conferencing, team projects and respective assigned roles, responsibilities and tasks, online weekly team meetings, online client meetings and many more to ensure a seamless process to complete our tasks and achieve our goals and objectives, which was fantastically amazing to witness!

I don’t think anyone stopped to review…

• What just happened?
• How did we just co-ordinate so fast with the ability to reel in teams to facilitate seamless productivity and performance?
• How did we suddenly become so disciplined working from home?
• How did we suddenly embrace independent responsibility?
• How did we suddenly show more commitment than when we were working from the office?
• Where did we acquire the drive and determination to keep the wheels turning?
• How did we suddenly become so resourceful, supportive, innovative, creative and all those traits we wished we had, when we were seated in our old comfort zones at the office?
• Most of all we then embraced the new normal!

This was all human intervention at its best, but on the flip-side we have also witnessed those who lost their jobs, placed on unpaid leave, had salary reductions applied and again, we witnessed comradeship and support of those more fortunate, successful collaborating to ensure that food parcels were available for those suffering shortages, moral support was extended, free advice, borrowing of items needed for those who could not afford to purchase new, employment groups created where the newly unemployed could upload their resume’s and be afforded the opportunity to secure a new job, as I have seen Human Resource Managers and the likes all join in on social media groups to continue the support and the list continues…

So where does that leave those who have Bank and other liabilities, who either are directly affected at this time due to salary reductions or unpaid leave and then those who have been afforded time and who accepted a termination in a few months, as there are all forms of situations people are facing right now, that could inflict mental health issues and other emotional states of mind.

Before you get yourself into a knot, create your Debt Schedule with the most accurate up to date commercials, review your EMI’s at this stage and what the most suitable reduced EMI’s should be, to enable you to maintain your payment plans, with ease, until you are able to recover completely, by either waiting to return to work, or securing a new job with a higher or the same salary you were earning before. But the point is, get planning, create self-awareness and be prepared, don’t wait for the last minute, because by then you would have piled up so much anxiety, pressure and resistance, that whatever you try to do, will not work, because of your emotional state of mind.

Everyone knows that this pandemic has direly affected Business Operations and so there is a large degree of empathy and compassion, where new Regulations was announced i.e.

• a. EMI deferments for your Bank liabilities from specific banking groups – Could be 2 or 3months, so if you are regular, approach your Creditor and request consideration to approve your request, you won’t know if you don’t ask, so don’t hesitate.

• b. New Settlement Plans or Restructures with a reduced EMI – So you can maintain a satisfactory DBR, preferably not more than 50% of your newly reduced salary or even less, if you are on unpaid leave or similar. Remember, you are not refusing to repay your debt, you are only requiring a concession to help you cope and maintain your payments, whilst still being able to sustain yourself and your family.

• c. Preparation of all your legal documentation required – Before you present your request to your Creditor, i.e. Termination Letter/Salary Reduction Letter/Unpaid Leave Letter, copy of your Passport, Emirates ID and Visa, preferably also a 3m Bank statement of your salary account – keep those on hand when you meet with your Bank Creditor, as you will need them.

• e. Know your Financial Status accurately – There is no room for mistakes when you meet with your Creditor, as they are more experienced than what you are, so they may pose surprising questions, request out of the norm documentation to verify your request, as they have Due Diligence to apply to authenticate your situation and verify your story. So be mentally prepared when you meet with them, have everything on hand and project confidence and positivity, see your request approved and that’s the only work you need to do, because what you put in, you get out, simple logic!

Right now, eliminate any negative mindset you may have because of this ongoing situation, as you must gain clarity to know what you want and take action to secure and achieve, because we still have a long way to go, without having to instill fear from within. So, you need to operate with complete confidence, clarity and positivity to maintain the positive wheels turning for you and create a ricochet, that will be passed onto everyone who comes into contact with you.

Most of all, extend as much kindness, care, support and empathy as to can to your fellow human being, act with humility and serve well, so you can continue to create value in your space, which will have a huge positive impact on your life and progress. There is no time like right now to impose your good will and humanity to everyone who comes into contact with you, because there is no room for any form of negativity, being mean, unkind, hurtful and not supporting others, because we don’t know how the wheels can change for us, if we insist on planting bad seed.

You can’t sway like the wind, first being co-operative and then not, because that same tide you’re creating, is negatively inflicting the lives of debtors who are really needing your help. If you want to see real change, then you must collectively start making a real concerted effort to realize that change, because recreating change with old habits is a door stopper!

So, here are a few real changes you need to revisit and apply:

1. If a debtor has presented their entire financial exposure, where they qualify for consolidation and/or restructure, but they’ve told you that right now they can’t meet the full overdues or high pending EMI’s, then I am sure you can make allowances to approve for them to pay a realistic partial overdue EMI and apply remedial to the remaining. Why is it necessary to apply victimizing actions and attitudes, including ego in most instances, just because you can? You don’t think that if you can recoup your organizations assets over a period, that you may just be able to see an improvement that would ensure you of some form of future stability? Or don’t you care? Don’t you assume that one day you could arrive at your office to find out that it is no more?

2. If the debtor has visited your office, met with you, is willing and able by presented commercial statements to meet he’s liabilities and you have done your due diligence and considering remedial, then on the flipside, why is it necessary for your team to continue calling the customer 58times in 20minutes most days?

3. In addition, to bounce their guarantee cheques and file legal action, whilst the case is submitted for review and approval by your management? Why are your systems not updated with this activity whilst the customer is awaiting your feedback? There is no consistency or handover from one months allocation to the next, regardless if you profess that all interactions with customers are recorded, it’s clear the ones where the customer requested help is not, because a remedial request can be pending from 6m to 1year, simply because how many really take an interest except to secure their target, then the same cycle continues with the next collector allocation.

4. Why once the legal action is completed, do you not follow your legal procedures, but instead harass the customer at their workplace, knowing that if your team specifically request to meet with your customer’s HR Manager, that they could be terminated? Am I correct in assuming that you don’t care and that it is irrelevant to you that the customer can lose their employment? So, if you have a good many customers in 1 month that you apply these measures to, how long could you hold onto your job? To be frank I have escalated such instances to senior management with no action or outcome.

5. Why is it that in many cases escalation to senior management is ignored and never actioned? I hear the excuse of being too busy, well, I don’t accept it, not when you are in a position of strength to make a difference and save a life and however much my sentiments have no significance to you because you have no empathy or compassion, then it’s time to do the full circle of the job assigned to you, because it’s not just about targets, or allowing internal power struggles and politics to affect key decisions made for debtors accounts, simply because you don’t like dealing with the remedial company requesting such reviews. We are not here to like anyone, but to build sound relationships to try to restore human faith and lives so everyone can recover, so it’s never personal, neither is what I am writing today.

These examples are not referencing debtors who are intentionally under-handed, rather the sincere debtor who has not only sought your help and was refused, but proceeded to seek alternative help from a remedial company who can review their entire exposure with the sole aim of reducing their DBR in line with their current monthly income, enabling them to service their EMI’s and not default.

I am saturated about customer’s having to hear from creditors as to why they are seeking the help of remedial companies, so let me inform you, here’s why, because if you did your job correctly in the first place, the customers would not have to seek alternative solutions and support out of sheer desperation.

Therefore, remedial is a full circle, it does not only pertain to the norm of consolidations, restructures or buy-outs, but also to the human factor of coping with psychological debt emotional fear, depression, anxiety, anger and also credit mentorship, because they get to understand how to transform themselves, hence, changing their situations where they learn how to emerge from their dark hole and recreate themselves and take ownership and responsibility of their lives in a full circle. It’s a serious issue, where it does not matter if a debtor opts to remain here or skip, even in the latter instance it can also be soul destroying if the debtor has a conscience and I know many have, so the choice some creditors had in the past should be a lesson today, rather to fully support until the debtors situation improves and realize that time is the healer of restoration, the debt was not accumulated overnight, so how come you want an overnight solution right now, when it is impossible?

When people are at your mercy, regardless of whether you assume that the situation was self-inflicted, the fact is that it won’t serve you to continue beating the old drums, rather your job is to save the moment, whilst saving your organization and yourself, because nothing else matters, except that the debtor is willing to repay he’s debt.

I find it very hard to consume when a debtor is offering to pay a partial EMI, where there is no legal action, just he knows that he is expecting income soon, but right now, he is willing to pay what he has in he’s hand, then the creditor refuses, in some cases, the collector will even demand that the creditor ‘go and lend it from someone!’. Really? So that you can achieve your target? The other big issue is demanding and EMI with a promise that once it is paid, the restructure will be processed, where once paid the debtor finds the account is then allocated to a new collector and history starts repeating itself and finally, the debtor faces legal action due to accumulated EMI balances.

When will we learn as human beings that being happy and in peace, also helping others to create that same equilibrium, will serve us all and that we are all on this one planet, supposedly to help each other, but some of us have cocooned ourselves in special aura of ego, that seems to be impenetrable, where those around us are already well trained not to cross that line. Realize that you’re not in an ego cocoon, just a delusional bubble that will burst in its time, then you will stand alone, unable to help yourself, because that’s the law of life.

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Company Owners facing a debt-crisis – “I WILL NEVER STOP, BECAUSE MEN SAY NO…”

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The lesson of debt is not dumping your debt on someone’s desk and transposing the entire responsibility onto their plate with your futile excuses, mostly pleading poverty, then later it is found you went on vacation, whilst someone else is trying to protect your life, believing your lies and incorrectly defending you with your creditors?

Who does this? How is possible that you are oblivious to the facts that:

a. It is unacceptable to dump your debt onto someone else’s desk and walk into the sunshine with no sense of responsibility;

b. It is also obnoxious to assume that the company or individual has no choice but to accept this attitude, because you signed an agreement on the dotted line and now you call the shots?

c. It’s also totally unacceptable for the company to protect you against your creditors during the process of remedial submission, whilst you plead poverty by convincing ways that you cannot afford to contribute towards your overdues, but then you are keeping the money for your vacation?

d. Where is your conscience? You cannot recover without one.

e. How come someone else who never spent the money you borrowed, must unintentionally lie to your creditors, because you are underhanded?

f. How come once the remedial tasks are completed, you now feel the need to dissect their service fees because you believe most is undeserved, even if the outcome is positive? Based on what level of mentality are you biting the hand the feeds you?

g. Initially when you are seated in front of a remedial officer, pleading, begging and crying for mercy and help with bad intentions, my advice is enroll yourself in Hollywood, as they are direly seeking actors like yourself.

h. Existing with no self-respect, integrity or respect for those whom you reach out to for help, who take the time and make the effort to tender this help, is a shameless act, where it is deserving for you to rather face your wrath, so you will be forced pay dues to learn respect.

i. When you openly devalue the value of any individual, company or creditor who takes your hand to save your life, then it comes around, in its own time, not yours and when you least expect it, but come around it will, as true as the sun rises and sets daily.

Authentic humanitarian gratitude and appreciation are the only forms of reciprocation that fosters progress, recovery and abundance we all dream of, without that, we are almost soulless and empty humans. Nothing replaces being thankful for someone for being there for you, respecting their efforts and unwavering support to help you. Acting without any remorse and ungratefulness is not the attitude to take, as it will negatively ricochet back into your life.

Many debtors who faced a debt-crisis and acted out this way, are clueless about how much they have compromised their own image and integrity, which affects the character you presented, where the country is huge but also small, because there is literally nowhere to hide.

This attitude can be compared to the mentality of such debtors who assume that when they were in dire debt, unable to pay their EMI’s, they just applied for another loan or credit card, which filled a hole, saved them for a month or more, but left another hole, which is why they faced a debt-crisis.

In the same way if you assume that right now you could cheat your way through asking for help, not paying for the service and the job is done? You are sadly mistaken, as dues you will pay and more than what is owing, because it’s the circle of life.

There has always been dishonest under-handed debtors, but it appears the trend has increased substantially, more so the very good actors, of specific nationalities, who have opted for this route and my message to you today is carry on, see how far it will get you, but one fine day, when you find yourself in a place where your hands are tied, no more under-handed activities, then don’t ask why, know why and think of the acts of dishonesty intentionally performed by you.

At the end, these acts of dishonesty affect the lives of other bread winners, who were either terminated from their jobs, because they reached out and took your hand to help you, or someone who never received their salary like you did, because you never paid your dues. So, when you negatively touch a life, a life touches you in the same way, there is no escape.

Like I said, it’s a circle, it will always be a circle, so any negative cog affects the circle somewhere along the line and it is a sad day that such debtors have no conscience, but we are hoping for less users and more honest sincerity, because the circle of evolution must continue, the bad apples always ever drop off along the way.

I’ve been speaking about this for years, trying to encourage debtors facing a debt-crisis, or those who know they will soon, to stop hovering in the background, faceless, because you are ashamed or embarrassed. The truth is every day that you procrastinate, is a day that you put the progress of your life on hold and you allow your debt problems to snowball, later into an uncontrollable situation.

You know you have a critical debt problem, you have known for some time now, but you’ve either wasted so much time to delay reaching out to your creditors or remedial companies that can fully support you, or you are simply existing in a delusional zone, pushing this story so far back out of your mind and reality, too busy draining energy from yourself. It takes energy to continue being pretentious, like there is nothing wrong, hard work to put up a good façade all day, only to crumble into a sad pile when you can lift that façade, be that when you get home at night, or spasms during the day, when you are alone.  Know that the people who matter in your life, your loved one’s they can feel the pressure, tension and negative emotions hence you are also affecting their life! So, as much as you assume they don’t know, or you are hiding it from them, they know something is horribly wrong, if they don’t know the actual situation.

Therefore, it is your duty to convene a family meeting and open to the real situation, because you will need this support and most times you will be surprised that the needed support will be given, you only had to ask. This lifts a huge burden off your head, so you can gain clarity, focus and take the first step to your debt recovery, without having additional fear that they will find out, or anyone will find out, you owe it to yourself, nobody else.

I am here to tell you that all is not lost, hope exists if you believe it, or you can come to terms with the fact that it is never too late to step forward and reach out for the hands that understand and is willing to help you activate a debt recovery plan, to ensure you are on the road to debt recovery.

It’s simple, put everything aside and think of yourself, your own well-being, existence, progress in life, the fact that you want to be in a place of recovery, start to feel better about yourself and be able to be proud of your achievements and live your authentic self.

It’s hard work to continue putting up a façade with others, like there is no problem, like all is fine when it’s not, because that zone has an expiry date and if you are fortunate enough to cut the cords before the situation worsens, then you’ve won your own day. This debt problem has an uncanny way of creeping into your entire life and saturating it, until there is no way to turn and you don’t want to be there, because it’s an unpleasant place to cope with and it can destroy you.

Very important is that it’s not going to be easy to get back on track, but there are no choices, once you take the first step then there are huge sacrifices to be made, perseverance, keeping your commitment to your creditors and reducing your personal expenses, scaling down all-round, no shopping for items you don’t need, no vacations (yes, I mean it!), no extra luxuries and this can continue for a good many years, but at the end, the journey would have been worth it!

Remember, you did not accumulate this debt in one or six months, so don’t expect instantaneous miracles of recovery, because it is a path where you are tested, you may crack many times, but you must learn to pick yourself up and push forward, nothing lost, nothing gained! It’s 100% times better than facing legal action, because then you have minimal options if you’ve left it too late.

It’s not easy to come out of the woodwork and admit to anyone that you are facing a debt-crisis, but the problem is, if you don’t act, the debt will do it for you and then the situation is worse, where you will have no choice and face harsher actions.

Don’t look back, keep looking forward, forget about the possibility of being blacklisted, you are not here to seek more credit, but a remedial solution to your debt-crisis problems, so more credit is never going to be an option, else, you will never recover. Debt is a serious addiction, because in the past credit was readily available where people never had any constraints, but it’s caught up with them in a serious way, because they were out of control.

The story of ‘what happened to the money?’ is a fruitless exercise, because nobody will admit that they have it stashed away somewhere else if this is their situation, the fact is, the problem is here, so it must be faced in the most honest way. Being dishonest has a bigger price tag attached to it somewhere in the distant future, when you least expect it and when you can least afford it, because that’s the lesson of life, dues must be paid and it’s not up to you, me or anyone else.

Hovering in the background with no clarity and loads of procrastination is an historic trait of debtors, because they never want to reveal themselves for the negative stigmas attached to debtors facing a debt-crisis. Those days are gone, we must evolve to survive, thrive and be the very best that we can be, where facing a debt-crisis is a hurdle that you can overcome, with enough determination, willpower and inner strength, call it faith, or your beliefs, but it’s what you will need on this journey.

My invitation to those of you facing this debt-crisis problem, step out, take ownership and responsibility, lift the burden off your shoulders and if there are fees to be paid, then stop complaining and trying to haggle prices, because professional services with excellent deliverables can appear to be intangible, until the performance is tangible. If this is the case, then you need to think about what your life is worth, and I am sure it’s worth much more than what money can buy.

When anyone reaches out to take your hand to help you in your debt-crisis then remember, they are taking a huge risk, because with your default record, they have no guarantee of your future commitment and as the record stands, many have been dishonest and leveraged on a remedial mechanism to ease their debt burden, only to disappear into thin air!

Be credible, learn to rebuild your integrity and remember, the money you spent, was given to you in good faith by your creditors, so you need to reciprocate in the same vein, as they don’t owe you any favours to apply ridiculous discounts, only to protect their assets, because their livelihood depends on this very important factor too!