[ASK] How are you going to handle too much debt? - page 14.

Falmera

jr. member

Activity: 280

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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?

If that is the case, I will have to find other sources of income to pay all the debts. Bitcoin is so helpful. When you will just be a keen observer and got all information before indulging to something, then you can be successful in this crypto world.

no0dlepunk

sr. member

Activity: 490

Merit: 258

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 sucks my friend, in the first place, why in the hell would you be in that sitch if you are aware that your salary is ain't enough to pay for it; Anyway, let's focus on the problem...

here are the basics:
- electricity
- water
- rent
- food

Now, among the 4 above, the safest bullet to compromise is food. If you want to have extra money to pay debt, then you better start reducing your meal to once a day. It might sound like an ill advise but you may take it or leave it.

charlzyeby

jr. member

Activity: 182

Merit: 4

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?

You have to cut down your spending. Shift some of your expenses to paying your debt. It will surprise you to know that there are some things you actually do not need. Start investing in assets and not liabilities. For example your house become a liability when your bills increase and the same house becomes an asset when you rent it out.

btctestcolets

jr. member

Activity: 233

Merit: 2

Well, if something you can't handle it in too much debt you can approach them in a good manner to repay for small amount and the make the interest be set aside so that it can be a surely paid in time as long as it guarantee the full payment is done.

dewi91

full member

Activity: 490

Merit: 100

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?

if you had so much debt you should stop to making a new debt, do not pay the debt by making new debt. you have to try to work harder than usual, find some side job, you can get extra money from that and it will help you to pay the debt and slow but sure your debt will be paid off.

klarnetcijamie

newbie

Activity: 148

Merit: 0

Try to double your effort to gain more money in the right way of caring job. Exceed your limitations to move the debt to no more. To handle that you should not make it your master. If you master debt it can control your entire lives. Handle it by not getting some debt to avoid your doomed day to pay debt.

Danlopz

newbie

Activity: 70

Merit: 0

Quote from: rayk on April 02, 2018, 04:04:53 PM

In fact, I can't, I started with little money and made satisfying profit for me but after cashing out it to my bank account, it is harder to re-invest in coins. I like my this feel because coins are very risky.

It has become the law of nature and the destiny of man to owe. Nobody lives without debt to make ends meet. Sometimes we can not sleep soundly if we have a lot of debt and how to pay it off. It does not matter if we do not have enough income to pay for it, what we have to do is talk to the person we loaned the money and ask if we can pay for it or adjust to the conditions in which we feel comfortable. So we do not stress and can pay it off as soon as possible.

justdimin

hero member

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Pelevelyl on April 17, 2018, 10:50:00 AM

You need to declare yourself bankrupt. To say that the borrowed money is irretrievably lost and you have no chance to return them. They won't do anything to you.

Well, they would not do anything to you but you will have to let go some of the things you have if you do so. I am not sure banks would just forgo some huge amount, in fact no matter how small without trying to get it back. I really do not know how declaring bankruptcy works globally though, but I feel except you are collecting personal loans, before getting any from the bank, there is always collateral to drop before even getting anything at all. That should always solve it.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Currently, I am exploring the philosophy of Robert Kiyosaki, the author of the best selling book 'Rich Dad, Poor Dad'. He says Debts are making him rich in terms of getting advantages of tax savings through that way and since he invests his money in real estate (it generates money for him). In my case, I would try to figure out ways to improve cash flow to deal with debts instead of selling the assets or going any other way.

piterpie

member

Activity: 280

Merit: 10

If my income is not enough to pay off my debt, perhaps I will have to borrow more capital and invest in financial support facilities. And if I succeed, then I will have enough money to pay off the debt to everyone

hoanghoatham04

member

Activity: 176

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Blockchain Just Entered The Real World

My opinion is bank loans or funds. Then I would use that money to invest in other projects with the hope of having enough money to pay all my debts. There is also a solution every time I am short of debt

glowing10

full member

Activity: 812

Merit: 142

Quote from: Tagabukid69 on May 05, 2018, 03:19:27 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?

I never experienced too much debt, but in order to get away from debt, Discipline yourself, Strictly priorities your common needs and stay away from vices, such as gambling, drinking and shopahoalic.

Avoid taking too much debt because at the end you will have to pay and you never know that how money will slip away or your expenses if not controlled can kill you as your income would be limited but expenses will keep rising and you will not end up saving a lot thus debt will not be able to be paid sooner.

minnerETN

newbie

Activity: 126

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?

Maybe I will raise funds from my friends and family to pay off debts to the companies or organizations that I owe money to. Then I will try hard to make money and pay back my friends and relatives

BillCoin

sr. member

Activity: 476

Merit: 259

First of all, I would make a detailed list of all of my expanses, and I will check each of them and try to reduce them, it could be buying food outside- you can replace it with buying food in supermarkets only.
It could be going out with friends- just don't go out to save the money.
Meanwhile, I would be searching for another job to get more income, I would try avoiding getting into a debt in every price because debt leads to more debt as you pay interest.

Bitexpert2017

member

Activity: 224

Merit: 10

Look for a part time job and sell your precious assets, especially Bitcoin, just wait at the end of this year later maybe Bitcoin will do the same thing as last year.

ratnawide

newbie

Activity: 166

Merit: 0

if you still have some of the remaining assets then I suggest you to sell the asset to pay your debt, if all that is not enough then you can ask for payment in installments, so you can pay your debt bit by bit. and most importantly, stop to start a new debt

Btcschool

member

Activity: 488

Merit: 10

Quote from: gawer33 on April 17, 2018, 10:47:33 AM

In my country, you cannot be jail or sue to court because of debt. if your living In this kind of county the best solution is just to ignore eventually they will stop harassing people. My sister had a debt on credit card for more than 7 years. still nothing happen to her.

I can imagine the number of people that will owe a lot in your country then. Normally, it is either you pay up or you forfeit your collateral. Normally, I know the first thing that is always being asked for before collecting any loan is collateral and as long as you cannot pay up at the stipulated time, then you will obviously be threading that way of losing the things you must have dropped as a collateral to pay up such debt in any scenario where you could not.

mel1978

full member

Activity: 518

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?

I have already experiencing it my net income is not really enough to support my family, especially the need of my children. What I did was looking for an extra income in order to lessen my debts. I did research on how to earn via online jobs in order to pay some debts that I have. I am thankful I have found this forum because in joining some bounty campaigns here I did earned and happy to say I am now financially free.

krishnaverma

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Merit: 106

Available for rent

Quote from: Mateo123 on May 05, 2018, 05:48:59 AM

No one wants to be in the position of struggling to make payments on debt, but the reality is that it happens, as soon as you face up to the situation, paying off your debts maybe simpler than you realize, we should discover the extent of our financial problems ,finding ways and seeking advice,"paying it little by little.,"discipline ourselves to avoid debts",.

Some people are satisfied by paying the minimum due amount on each debt every month. Now this practice has a big disadvantage that you need to pay interest for longer duration. A better approach is to pay the debts as soon as possible. You can make use of some portion of the emergency funds so as to pay back the entire debt amount.

Mateo123

newbie

Activity: 182

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?

No one wants to be in the position of struggling to make payments on debt, but the reality is that it happens, as soon as you face up to the situation, paying off your debts maybe simpler than you realize, we should discover the extent of our financial problems ,finding ways and seeking advice,"paying it little by little.,"discipline ourselves to avoid debts",.

Topic: [ASK] How are you going to handle too much debt? - page 14. (Read 2678 times)