The worst thing you can do is ignore the problem.
You would have to talk with the lenders in order to change the terms,
and combine the new structure with new spending habits. You may
not be able control what comes in short term but you can control
your spending.
Topic: [ASK] How are you going to handle too much debt? - page 23. (Read 2697 times)
For me, loans are the worst thing. I think so. If I can't buy a car, I don't deserve to have one. I work and save money for the car. I can buy myself a car in second hand and it will be cheaper than paying interest on the loan. You can always find an opportunity. Credit is the worst solution.
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?
For this situation we have the banks mate! Thought there interest rates are too heavy but we have to have them in school situation to recover our own situation itself. If you keep waiting for the hope and keep paying the interest on your previous debt then you will end up loosing all the income that you have.
Sometimes it would be better to get the money with low interest rates from Ex-financial institutes and thus you can close down the debt which is having higher interest rates. By this method you will be able to save more money on the current debt. You can keep doing this until you clear all the debts. But be careful and seek the help of CA professional to know what you are doing with your money.
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?
then find a job that suits to pay your debt,what kind of question is this?only lazy and irresponsible creatures woulmake thise a a problem,if you are responsible enough to take place for the obligation then no need to ask this..we are all having our own debt to pay and if all of us will having this kind of maybe the world will be in trouble how will you deal with it?
how to solve it?
I have not faced such kind of trouble but i belive that you should to be serious and change your life style and hold the money together, get a second job or something similar.
The best way is to not stopping paying your debt until all has been paid. Even paying in small amount is okay as long as you are paying rather than not because the interest will surely increases. If you dont pay, then your debt amount might be doubled because the interest keeps on increasing. So the to avoid this kind of problem, pay any amount as long as it is continuous. And if your debts are paid already, learn from your previous mistake. Spend only when you can afford, if not, youll end uo borrowing again, and the problem will be repeated.
I have not faced such kind of trouble but i belive that you should to be serious and change your life style and hold the money together, get a second job or something similar.
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 a question for you. Why did you take so much money in debt if you can't give it away? I never take loans at all. If you don't have the money to buy something, where do you get the money to repay that loan plus interest on the loan? Only stupid people can do that. Now you will give all your money to the Bank all your life. how will you deal with it?
how to solve it?
Having Debt is normal in our society. You only borrow money only if you can financially deal with the debt. But if you don't control yourself on borrowing money you may face a big problem. Having too much debt is very hard to deal specially your debt is more than your money or your assets. But even though you have a lot of debt you can deal with it by simply communicating to your debtor. It is different to any kind of debt. For example you have a mortgage, you can talk to your debtor and tell him the problem that you face and ask him for certain changes in loan. You can also opt to refinance your loan like borrowing money to pay your old loan or ask if you can lower down the interest or prolong the loan.
when you borrow money, think twice and ask yourself if you really need it. Avoid borrowing money for things that are not that important. You should control yourself so you won't face a big problem in the future.
when you borrow money, think twice and ask yourself if you really need it. Avoid borrowing money for things that are not that important. You should control yourself so you won't face a big problem in the future.
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?
too much debt is surely not healthy. In that case it's important to take on more jobs to get higher income in order to get out of debt as soon as possible. Especially try to avoid borrowing money for useless stuff
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?
Start Finding a Monthly Income Alternative and also canhow will you deal with it?
how to solve it?
The next step to overcome the accumulation of debt is to start looking for additional income alternatives to be able to pay off debt and learn not to be wasteful.
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?
There is only one way to solve it, if your income and assets are really not sufficient to service your debt. You have to restructure it or file for bankruptcy. Bankruptcy might not be suitable in all jurisdictions - you could go to jail in a few countries. If the lenders are understanding enough to give you a payment holiday, you can try to increase your income before repayment starts.
most people in this world who have debts because they borrow money in high interest banks better advice me if you want to borrow money better to friends or relatives because we do not need to pay interest. If your income is not enough to pay the debt you have to search work again to earn additional income, and subtract your living expenses and save money.
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?
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.
Usually the problem of unable to paid debt is because we also need to pay interest, so the best solution is to borrow from friends or family, and be discipline about payment, if your salary still won't enough then go for installment, or find side job to pay it, you need to be responsible for want you have done so you absolutely need to pay back your debt
Debt is a very painful burden when you take the loan and for that you will pay some interest as well and it is really pressurize for those who are not able to afford the fee and for us the best way to be in the crypto you have to pay some of the interest from this way and in the near future i would like to start part time job also and to pay all my debt as soon as possible.
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 must accept the reality that you have a debt that need to settle and make a double efforts to increase your monthly income by participating in various bounty that will give you good rewards. Also limit your daily expenses and cut those unnecessary purchases. Lastly, discipline yourself. how will you deal with it?
how to solve it?
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?
Keep trying to earn enough to pay all your debts. There is no word of surrender to pay off the debt, you must continue to try as hard as you have, because the debt is supposed to be paid off. Honestly, after the existence of bitcoin, gradually I can pay off all my family debts little by little. how will you deal with it?
how to solve it?
In my state, there are A LOT of people who have full time jobs that live in their cars. They can't afford to pay rent and are homeless. 
It is a tough problem to solve. There are no easy answers as far as I know. If anyone has a good response to this question I would be interested to read it. I think the basic analysis of circumstances is, cost of living is growing at a fast rate. Wages for middle class and below aren't growing much at all. Eventually, this means we could reach a point where a decent proportion of the population will be unable to afford housing. If the trend continues, other things could also become unaffordable.
I would guess at some point there will be some type of correction. What form or shape that might take remains to be seen. It won't necessarily be aesthetically pleasing or elegant. Things could get messy and ugly. Maybe one reason why gun control and gun confiscation stances are being pushed so hard right now by the media. "Disarm everyone before mobs with pitchforks malcontent with the status quo show up on the doorstep of whoever people decide to blame for this."
It is a tough problem to solve. There are no easy answers as far as I know. If anyone has a good response to this question I would be interested to read it. I think the basic analysis of circumstances is, cost of living is growing at a fast rate. Wages for middle class and below aren't growing much at all. Eventually, this means we could reach a point where a decent proportion of the population will be unable to afford housing. If the trend continues, other things could also become unaffordable.
I would guess at some point there will be some type of correction. What form or shape that might take remains to be seen. It won't necessarily be aesthetically pleasing or elegant. Things could get messy and ugly. Maybe one reason why gun control and gun confiscation stances are being pushed so hard right now by the media. "Disarm everyone before mobs with pitchforks malcontent with the status quo show up on the doorstep of whoever people decide to blame for this."
Sell some assets at a relatively good price if you can and try to make additional effort in earning more money by finding sideline jobs. Adjust how you expend money accordingly.
Negotiate if you can.
Negotiate if you can.
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?
pay little by little, negotiate with the lender. ask for a longer time with a smaller payday installment, negotiate it. Good luck
Jump to: