Over one and half million people filed for bankruptcy in the 2010 fiscal year. This number is up almost 14% from 2009. It is obvious with this rise that Americans are in trouble, many have made mistakes spending money inappropriately while others maxed out their credit card due to necessity. Regardless, of the reason you may be in debt there are other options besides bankruptcy.

One option many debtors are considering is that of credit card debt reduction. This solution will take you longer to get out of debt compared to a settlement or consolidation, but may be worth it in the long run as programs such as settlements or consolidation land the debtor back in debt only after a short period of time. Debt reduction takes hard work and time, which if you are willing to do will get you out of debt.

You will first have to take control of your money, rather than your money having control over you. In order for debt reduction to work, you may need to take a second job and will definitely need to cut back on expenses. You will then have to apply the extra money you are saving or making towards paying off your debt. This will take strong will power on your part, and will often seem like a constant struggle.

The benefit of debt reduction is ultimately getting out of debt, but you will also learn better money management that will last for years. Unlike with a consolidation or a settlement program you learn how to control your own finances, which is a skill that will last a lifetime.

If you have strong will power and are willing to do anything to get yourself out of debt then you will want to consider credit card debt reduction. Bankruptcy or a settlement no longer have to be the only options if you are willing to take the time and work hard to eliminate your debt.

For the last five years I have seen every single Deadliest Catch episode.  I fell in love with all the moving parts of owning and operating a crabbing fishing boat.  It has been pretty cool to see how the fleet has evolved in the last five years.  New captains, new crew members, new strategies, deck hands switching boats, sons and brothers joining the fleet.  The emotion and brotherhood of the crew members in the mist of the Bering Sea was spectacular.  Tonight on national television we lose a captain, a business owner, and father.

Phil Harris was the captain of the lovely lady, Cornelia Marie.  The Cornelia Marie is a 128 foot Bering Sea crab fishing boat.  For the last five years on Deadliest Catch, Phil has crabbed the unforgiving seas off the coast of  Alaska.  The prize, gold of the ocean.  King Crab, Opilio Crab and if your Sig Hanson, lots and lots of Cod.  The wealth to be earned fishing the Bering Sea is enormous.  There however, is a price to pay for such a career.  Long hours skippering a boat across treacherous waters, being out at sea for months and months at a time missing your family and loved ones, the responsibility of keeping a crew alive and safe, and bringing home the gold.

Phil Harris was probably the most humble and human-like compared to other captains in the fleet on Deadliest Catch.  He had a certain compassion for everything around him.  He had two sons that joined him in his crabbing career.  Jake, the younger of the two brothers joined the Dad first.  He got to know the life of being a seasoned crab fisherman.  Shortly after Jake joined the boat with Dad, his older brother Josh came on board.  Two sons following in your foot steps watching every move you make to some day take over the wheel house.

I have spent much time thinking about crab fishing and the corporate logistics behind it.  I wanted to share my thoughts as a crab boat is one hell of a business.

What does it take to to run and operate a crab fishing boat?  What kind of cash does it take to keep the boat in service ten out of the twelve months in a year?  I thought to myself that the cash flow must be amazing.  Hundreds of thousands of dollars flow in and out of bank accounts all year long.  What are some of the expenses on a crab fishing boat?

Groceries, gas, supplies, gear, water, red bull, cigarettes, crew members, maintenance on the boat from the salt water, licenses, taxes, property taxes with a boat that big, interest on business loans or lines of credit, and on and on and on.

These captains are not only on a deadline on when they can get their crab into the dock, but they have to watch how long the crab has been in the holding tanks, how much gas they have, how much food and water they have, and anything else that needs to be replenished.  Crabbing on the Bering Sea is truly one of the most stressful jobs on this planet.

Tonight, Phil Harris passes away (Phil has already passed but they show it tonight on the last episode) and leaves behind a multi-million dollar operation.  Both Josh and Jake are sons of Phill and have been fishing side by side with Phill for over three years now.  No one knows yet who will take over the wheel house.  We wish Jake and Josh the best of luck in their new management positions as new captains of the Cornelia Mari.  Long live the Cornelia Mari.