[ASK] How are you going to handle too much debt? - page 11.

Getmon

sr. member

Activity: 1400

Merit: 273

Quote from: usahaali03 on April 02, 2018, 02:14:00 AM

what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?

That's going to be hard. But I know that a lot of people are in the same shoes as you are. Here is my couple of cents. You need to tighten the belt. Do not spend too much on miscellaneous. If it is not needed, avoid releasing some money for it. Look for some additional sources of income. If your income is not enough that means it needs to increase. Always set aside a certain amount regularly for debt payment. For now, you really have to deprive yourself a little. Sooner or later you are gonna be okay.

Ucihashin

jr. member

Activity: 38

Merit: 2

Everyone just have debt, so when i have much debt i just relax and follow the rule of life, don't worry about debt

Jlv

full member

Activity: 336

Merit: 100

The Future Of Work

I think too much debt can be solve by looking for another extra income and try to discipline ourselves, control our expenses and before having another debt pay the person that we have the first debt.

The cure

jr. member

Activity: 448

Merit: 4

That's really difficult to handle if there's on going daily interests on your every debts. Since you are here already in the crypto,i would say,you have a big chance to full pay all of your debts. Keep your hardwork,efforts and determinations to be a successful in crypto. It can lead you to have good living without any kind of debts.

amih

member

Activity: 308

Merit: 17

no matter what the circumstances I think if we have a debt the thing that should be done is still responsible to pay it off even under any circumstances. the thing to do if we can not afford to pay the debt is I think you have to have extra work to be able to pay off your debts. I think you can do other work outside your daily work activities.

gambitcoin53

member

Activity: 378

Merit: 25

Quote from: usahaali03 on April 02, 2018, 02:14:00 AM

what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?

file a loan restructure, spend less, identify your needs and wants and try to lessen those wants, focus on paying one debt at a time, worst is file a bankruptcy if it is a credit card debt, do not accept new credit card offers and try to pay it for another debt, it will just worsen your deep hole, look for another source of income if not sell your stuff that has no use for you at the moment. never file a loan to cover another loan. seek help from your relatives if they can give you a little amount of money then sum it up, there are lots of ways to overcome your financial problem. hope these helps.

Nboramir

sr. member

Activity: 538

Merit: 250

In my opinion in such cases if the debt is to a bank you should borrow money from any where without any interests and close all your relationships with all banks. If you don’t have such a chance then you should wisely manage your income and pay in small installments.

iged_war

sr. member

Activity: 882

Merit: 250

Quote from: Whitly on June 11, 2018, 04:59:55 PM

If I had such problems, I would talk with people from whom I took the money and tried to explain my situation and even change our agreements to make it more friendly for myself (But I think, it's only possible, if you borrowed money from friends, like I always do), if not, then you should analyze all your spends, and look where you can save some and find another job.

discussing problem with other friend or family could be give some advice that good for us and our problem.especially with people that people that borrowed money to us.

Whitly

sr. member

Activity: 668

Merit: 255

If I had such problems, I would talk with people from whom I took the money and tried to explain my situation and even change our agreements to make it more friendly for myself (But I think, it's only possible, if you borrowed money from friends, like I always do), if not, then you should analyze all your spends, and look where you can save some and find another job.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: andriarto on June 07, 2018, 04:19:23 PM

by way of credit we will feel lighter because more time to pay it gradually every month. but before we owe, we have to calculate our ability to pay so we do not burden us

There is nothing wrong with credit if you know what you are doing the problem is that very few people know what they are doing when it comes to managing their debt, for example if you make money through the Internet and you lose your laptop and you do not have cash in hand it is justified to buy a new laptop but most people buy unnecessary and unproductive stuff with credit that only accumulates dust overtime until they throw it away or sell it for a loss.

ArIMy11

full member

Activity: 519

Merit: 101

Quote from: usahaali03 on April 02, 2018, 02:14:00 AM

what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?

As much as possible, let us avoid having debt if we already know we are not capable of paying it. If we know that we have no source of income, having debt is not also the solution. On the other side if we already have debt, do not pay our debt with another debt. Tailored debt will jidt bring us more down in life until we cannot handle it anymore. We are going to die young by just paying that debt.

Azha

newbie

Activity: 47

Merit: 0

I owe myself Did a lot of debt. I can not repay the loan sometimes to pay, but it becomes debt. What is the way to tell? Will be beneficial Wink

Haoque89

newbie

Activity: 112

Merit: 0

Quote from: supine on April 02, 2018, 02:21:47 AM

Quote from: usahaali03 on April 02, 2018, 02:14:00 AM

what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?

Just be responsible pay it in small amount. Discipline your self, the reason why people always run out of money is because their expenses exceed their income. So, it is best to adjust your budget and control your money properly.

If we owe more than we need, we have to use one coin to generate 2 more coins from our profit to pay off our debts, and how important it is to get them. Profitable to have a repayment

Cita1

newbie

Activity: 153

Merit: 0

Quote from: usahaali03 on April 02, 2018, 02:14:00 AM

what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?

Review your expenses. Prioritize your needs vs your wants. Do an assessment of your income with your current expenses. Check for a possible passive income like bitcoin that can serve as payments to your debt also.

pallang

full member

Activity: 518

Merit: 100

There are some people who are suffering if too much debt and they don't even know what to do because some had high interest and some have mortgages. Some people don't even think when they want to borrow money even they don't have money to pay for it no work so i think when they encounter problem like this they must look for a job and pay it even in installment form.

andriarto

sr. member

Activity: 1344

Merit: 253

Quote from: BartS on June 07, 2018, 03:29:41 PM

Quote from: orions.belt19 on June 03, 2018, 11:30:35 AM

Fortunately for others like you, they don’t have to get a loan in order to survive. Some have no choice but to get a loan first. As much as possible, we must avoid having debts otherwise this will just be a burden or a bother. If you’re financially capable enough to live without having to borrow money, you’d be better off. Establishing a financial plan will help out in handling one’s debts.

There are some forms of debt that most people cannot really avoid like a mortgage, after all very few people have the cash the pay a house without taking any kind of credit but that is the type of credit with the lowest interest rates, the problem is that many people pay on credit everything they purchase, people buy even clothes on credit and most of the time they already have full wardrobes of stuff they do not even wear and yet they keep buying more unnecessary stuff on credit.

by way of credit we will feel lighter because more time to pay it gradually every month. but before we owe, we have to calculate our ability to pay so we do not burden us

teleskopta

member

Activity: 154

Merit: 10

i will always try to earn money for payment my debt, we are can participate in bounty campaign, without capital, we can get coins and finally can be sold, additionally if we have trading skill, it would be easier to make money

Daseento

jr. member

Activity: 206

Merit: 2

Alternatively you can contact your lender to work around a suitable payment option for you but this could come at a higher interest rate. Moreover, you should always involve your financial adviser before any business deal. Expertise opinion are needed to avoid this kind of situation.

BartS

sr. member

Activity: 980

Merit: 255

Quote from: orions.belt19 on June 03, 2018, 11:30:35 AM

Fortunately for others like you, they don’t have to get a loan in order to survive. Some have no choice but to get a loan first. As much as possible, we must avoid having debts otherwise this will just be a burden or a bother. If you’re financially capable enough to live without having to borrow money, you’d be better off. Establishing a financial plan will help out in handling one’s debts.

There are some forms of debt that most people cannot really avoid like a mortgage, after all very few people have the cash the pay a house without taking any kind of credit but that is the type of credit with the lowest interest rates, the problem is that many people pay on credit everything they purchase, people buy even clothes on credit and most of the time they already have full wardrobes of stuff they do not even wear and yet they keep buying more unnecessary stuff on credit.

automail

full member

Activity: 504

Merit: 106

🚀🚀 ATHERO.IO 🚀🚀

It happened to me before. What I have done is to make some adjustments on my lifestyle. We learned to live on what we have and make sure that we only purchase things that we can't live without. The next thing we have done is to find alternative source of income. Bitcoin helped us on that aspect. Don't borrow money just to pay your existing debts, it will only add pressure to you. Interest on debts are painful to pay so don't try to finish it in one swoop. Pay in small amounts until you zero it out. Finding a better job with a better salary is also an option.

Topic: [ASK] How are you going to handle too much debt? - page 11. (Read 2678 times)