In my life, although I don't have much money, I see to it that I don't have debt in bank or in my credit card, as I want peace of mind, if I want to buy something I will see to it that I will save for me to afford but won't let myself loan in a bank just for me to have something that I still can't afford to.
But most of the people today spend an amount more than its salary amount.I understand the situation especially if you're a breadwinner and you only receive a minimum wage for your salary and that can't cater to your family's basic needs.So people tend to make loans even if takes more obligations for her/him.I think as long as you pay your monthly amortization even with a small amount,you will not have a problem as long as you will not deny your loan and won't run away from it. 
Topic: [ASK] How are you going to handle too much debt? - page 17. (Read 2699 times)
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'd solve this by not getting myself in debts in the 1st place , debt is such a mentally destructive thing since you'll be all the time worried even if you don't have to and even if your deadline isn't any time soon .how will you deal with it?
how to solve it?
You'll be feeling lack of liberty and enthusiasm and heavy chains will always be restraining you from going ahead with any project in your life knowing that you are owed to give back money , money that you yet don't have .
But if i was on that situation i'll certainly cut off any luxuries i'm permitting myself into no matter the degree of how important is that to me , if watching tv is my most ultimate luxury i'd sell the tv in order to pay my debt ..
A lot of people get themselves in more debt to pay a previous one and that just gets thing way worst , and not being a financially solvent person can engender a lot of other problems whenever you want to acquire anything else , so paying the debt is your top 1 priority with whatever necessary means .
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?
how will you deal with it?
how to solve it?
We debt it and we are responsible to pay it.If we have an income or if what we have promise in our lender we need to do it exactly what we promise to her/him.We need to fulfill our commitment to lend us back , to trust our lender again in you.
And i think , We must use that money for a good work . We can have business , we can have an investment and then we see that the money that you borrowed to someone is growing. Suddenly, you pay for your dept and you are no longer to need borrow money to someone because you have it already from you own bussiness.
You know a way to tackle it, after you request that obligation did you ever suppose on by what methodology can you obtain it? or save for accomplished one thing affected a chord that your pay wasn't adequate to reimburse it through portion? this can be the explanation before requesting a credit/obligation you ought to have a solid supply or if not, raise simply the add that you simply will pay. completely ne'er suppose to require another advance simply to reimburse this. supply some stuffs that you simply do not utilize any further, it'll facilitate.
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?
how will you deal with it?
how to solve it?
First of all I will never let my self get into situation where I have ended up having so much debt that they are overcoming the salary! Secondly if in imagination that does happen then you could settle the deal with person from whom you bought the money and try to figure out the middle way. If thats not possible ways to go with then you can try lending money from somewhere else with lower interest rate and then stop the higher instalments in the first place.
If ever I have too much debt and if my income wasn't enough to pay for it, I would find an extra job, a small time business which I can offer to my co-workers and an online shopping business as well. I would work hard to repay what I have borrowed and work/do business even on weekends. Also, I would have a lifestyle check and eliminate those that can be eliminated and controlled.
Thats a good option as well. Cutting loose the lifestyle in such situation is very very important thing. Good one.
In my life, although I don't have much money, I see to it that I don't have debt in bank or in my credit card, as I want peace of mind, if I want to buy something I will see to it that I will save for me to afford but won't let myself loan in a bank just for me to have something that I still can't afford to.
If ever I have too much debt and if my income wasn't enough to pay for it, I would find an extra job, a small time business which I can offer to my co-workers and an online shopping business as well. I would work hard to repay what I have borrowed and work/do business even on weekends. Also, I would have a lifestyle check and eliminate those that can be eliminated and controlled.
I will solve it by installment. For example, suppose i have a debt of $1000 to four people and my monthly salary of $500 then i will repay my debt of $70 to each person and the rest of the money is in use for everyday purposes, it is done every time i get a salary until the debt is paid off .
Yeah i think the importsnt thing anyways is that you're doih something to pay that debt off. Of course it will be better not to borrow money and just live within your means, but there will be situations where we'll be left with not much of a choice. In those cases, make it a priority to pay off.
That's hard to handle but you can at least pay them to the amount you are able to pay accordingly. They can't force you to pay something and then you don't have anything to pay with in the first place. Or maybe you should extend more the years you need to pay your debt so they can adjust the amount needed to be paid monthly.
Even the court will consider this mode of payments,that installment about what amount you can able to pay,until everything settled
That's hard to handle but you can at least pay them to the amount you are able to pay accordingly. They can't force you to pay something and then you don't have anything to pay with in the first place. Or maybe you should extend more the years you need to pay your debt so they can adjust the amount needed to be paid monthly.
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?
how will you deal with it?
how to solve it?
The only way for you to get out of debt is to pay as long as possible, it was easier to pay if the person is not getting a percentage of your current debt so do not borrow a huge amount if you are not certain about your capability to pay it back.
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?
how will you deal with it?
how to solve it?
Actually I also experienced the same thing with you. Too much debt is difficult. Especially if you do not have a fixed income. You are still fortunate to have an income. In fact I have no income at all. No one wants to help too and care. If I sold some of the coins I had to pay the debt, would that be a wise decision?
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?
how will you deal with it?
how to solve it?
Well if that happen to a person that would be his/her problem. Well, I will not deal with it because I am not a type of person that who will borrow a money without assurance that I can pay it. In fact, I never borrow a money just to use as an investment in bitcoin. I am not saying that borrowing a money is bad. The bad there is if you don't have money to repay that, then don't borrow. That's just simple.
I will solve it by installment. For example, suppose i have a debt of $1000 to four people and my monthly salary of $500 then i will repay my debt of $70 to each person and the rest of the money is in use for everyday purposes, it is done every time i get a salary until the debt is paid off .
Yeah i think the importsnt thing anyways is that you're doih something to pay that debt off. Of course it will be better not to borrow money and just live within your means, but there will be situations where we'll be left with not much of a choice. In those cases, make it a priority to pay off.
Too much debt can make me uneasy and cant fall asleep.So if I had lots of debts I make sure that I can pay it in a right time so that it will never give me more trouble.If its impossible to pay it in exact time then thats the time I should ask another extension and I'll make sure I can pay it then.People usually lives with debts but too much debts isnt good already.So if theres other way better to look for more possible ways to earn more income that can compinsate your daily needs.
Alhamdulillah I do not have debt with anyone but I have a little advice for those of you who have a lot of debt or even pursued as loan sharks, you better do a lobang Karen dug cap system with it you can reduce a little burden even though your debt amount is not reduced equally once.
I will solve it by installment. For example, suppose i have a debt of $1000 to four people and my monthly salary of $500 then i will repay my debt of $70 to each person and the rest of the money is in use for everyday purposes, it is done every time i get a salary until the debt is paid off .
You should learn to lose some of your expenses.
Save money little by little know what you should do with your money prioritize where to spend.
You should budget your salary then make sure to pay your debt even by small amount .
Save money little by little know what you should do with your money prioritize where to spend.
You should budget your salary then make sure to pay your debt even by small amount .
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.
you're just lucky because living at the country who does not too care about paying debt but you can't just ignore this problem if you live in other country because you should repay your debt and if you don't do that then you will got in jail and this is not good for you and your family however this is first time to heard for me that people can't in jail if they do not able to repay their debt and actually at what country where you're life currentlyI suspect there are many jurisdictions where they can't take from you what you need for living, let alone sending you to jail. Though it obviously depends on the kind of debt and the size of it. For example, if you borrow from a bank and then default on the loan, they can take only the collateral you provided, if any. If this collateral depreciated during the term of the loan, they can't take more, no matter how little the collateral now costs. There are also bankruptcy laws which allow you to file for bankruptcy and in return, all debts are permanently discharged.
what would you do if you had so much debt and that your income was not enough to repay your debt installment?
First thing first, No matter how low or how high my debt is, It is my responsibility to pay for it. If I need to work at least 2-3 jobs just to finish it then I'll do it as long as it is legally and morally acceptable.how will you deal with it?
how to solve it?
how to solve it?
Well, definitely it would one of the top priorities that I need to work on it. Been there and done that, There is no concrete answer on how to solve such problem like this, My only aim is to pay for it no matter how long or hard it is, a debt is a debt. Asking for a loan again just to pay for my current debt would only add to the problem so definitely I will not consider such option (which is my mistake before).
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?
how will you deal with it?
how to solve it?
So much debt is scary and stressful. Do not hide to your creditors face them and ask for an installment let them understand your reason on why you can't repay un full. Set aside money from your income to repay your debt and try to venture other income like bitcoin.
I definitely agree. One should be responsible on paying their debts. We may of course cannot pay it in full, so better we use the installment for us to be able to pay our debts. Even if how small our salary is, we should save some percentage to pay our debts, even in small amounts, as long as we are paying the principal and the interest. Small amount is better than not paying at all. And when the time comes that our debt is already paid and settled, I think it is better for us to live with our means and to have what we can just afford to avoid unneccessary expenses and debts.
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