Bitcoin Forum

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.

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.

Stop borrowing or Lend,pay your debts first buy installment if you cant pay it in a one time.Do some business so that it helps u to pay your debts,do something it is worhty so that you will get good reward.

In my region we have best solution for this one. The financial support that we get from it is almost free but it works completely on the mutual understanding and trust. With that said people who are very very trusted will gather together. Fro example, close friend, family members etc. There will be at least 20 members in this scheme. The scheme started at first date of every month where the names of every member involved into the scheme are written on cheats and then one by one the names are explored. These are written down in the same manner as they were picked and explored.

The terms are decided like this:

Amount will be declared for the schemes: For example : $ 10,000 (USD is not my currency but for better understanding keeping it that way)

Rules:

Each member will pay monthly instalment as per the norms. If the scheme is in 20 member then it will run for 20 months. Each month every person will pay $500 as instalment. The owner of the scheme will collect this money and will give it to the person whose number is 1st in the list.

Thus there will be no extra charge, no interest rate on this but you just get the money with mutual understanding. This way every 20 member get their turn one by one after each month for the next 20 months.

What you have to pay is just 500 bucks and you can get the 10,000 USD right away and can reduce the debts and its interest immediately. This is great help for you.

TRY IT IN YOUR LOCALITY YOU WILL SEE GOOD RESULTS.

pay little by little, negotiate with the lender. ask for a longer time with a smaller payday installment, negotiate it. Good luck

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.

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."

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.

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.

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.

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

That's true sometimes the problem is on the people that not content to what they have instead they continue to waste their money to something that their not need. Be responsible and control yourself.

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.

i guess this has a point, besides depending on which country you are living, because some countries will let you file bankcruptcy and the worst case to some countries is that you would be in jail. Just be more responsible and if possible for you to pay in small amounts try to fix it using that method, you really need to accept those consequences through your actions.

Start Finding a Monthly Income Alternative and also can
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.

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

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.

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.

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.

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

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.

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.

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.

hmm find another job? You could always try to rob a bank, but that is illegal, so the first option is better although it probably wont help you.
The situation you are describing is a very difficult one, and I'm afraid there is no easy solution for it. A guy like this would probably be arrested and see all of his property, if he has any, confiscated (another great thing about banks...). People can get easy access to debt, and once they can't pay it, they lose everything. And people still say that debt is important for our economy...

And what's you jobs? If your jobs not enough to pay your debt it will good for you to get out from your job, and looking for a jobs like taxi driving or the other who give you a money depend on yourself. Because if you get payment from your job like you work in a company your payment was determined, different if you looking for money with your ownself you will work hard for getting money.

well the only way you can get out of that is to pay it but just what i've read the profit is not enough to pay your debt. I think for me if i'm in that position i will find multiple jobs (Field job) yeah it's not that easy to say that but for me it's the only solution that came to my mind.

And if you add the part time job here in the cryptocurrency industry (Bounties) it would also help a lot. So to conclude this, You should not get a debit card.

This sounds like another crypto debtor  ::) I hope it wasn't borrowed in the wake of the bitcoin ATH in December 2017 because that would really be hard to repay considering how much that was borrowed and the present btc price now.


What a sound advice from an experienced advisor.

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OP, there is something called repayment plan. You have to embark on such no matter how little you think you earn. Gradually and over time you would be able to offset your debt. Taking on extra jobs as others have advised may not be a way to good if you don't feel like it or if you are restricted health wise.

I will slowly pay it until I paid all. If I have huge amount of money or I can received incentives from work I will pay all my debts. But If I have a few amount left from my salary I will pay it slowly every pay day at least I pay regularly. Debts is to be paid but it depends on how you manage to pay it.

Absolutely. Credit is so insanely easy to access, which is done so on purpose, that when most people have debts to cover, they try to fill one debt gap with another, and that's the road leading to total bankruptcy, exclusion from almost every possible service, etc. Look at current economy, it's almost entirely based on debt, which is insane. In other words, that what the majority of people think to own, isn't theirs at all in reality. People's cars, houses, investments, it's all breathing a dangerous level of debt. It goes even so far, that people buy crypto with credit, which is the most stupid thing to do. Crypto volatility + lacking understanding + credit (borrowed money) = 90% guaranteed failure. It's a lethal combination people greatly underestimate.

Huge debt is really a pain in the neck. I also experienced it before but not big (but it is also a hard time situation for me what more for big debt). One thing i do is limit myself in something i want and just have what i really need (especially if you have anwife and children). Also my savings is set aside just to make sure i pay part of my debt. You should also not pass in paying it monthly or daily or whatsoever your payment scheme. Most important thing, you must have the discipline. If you dont, everything will end up of having more debt and probably you cant escape it anymore.

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

stop doing debt , really that the important
dont buy something that u cant pay
if you really need it buy it by cash IMO

I would recommend you to revisit your budget. But if you don’t do budgeting then it is time to make a budget plan. From your budget, check if you can slash down unnecessary expenses. Use your extra money to pay for your debts. If in case there are no extra budget, then the best thing to do is to look for an extra job. An additional income is needed to compensate our expenses.

The best thing to do to solve your problem is control your finances. Finanacial management is very important you should know your priorities and look for extra income like joining bitcoin in bounty campaign program by having signature campaign, this things will make you repay the debt installment as soon as possible.

first, if you have an obligation to settle,  make sure to have a budget so that you can pay little by little your debt. it might take long to settle it, but you'll get there by doing what you have to do. learn to manage your finances and make sure to allot buget to your loan. in this case, your loan will decrease in due time.

I've heard of people using these systems before, they're called a Cundina or Tanda depending on what part of the world you're from. I don't see the appeal of it personally. If you're able to pay the money into a Cundina every month in the first place, you're able to save for yourself just as easily and it removes the risk of someone else not paying their contribution back and you losing your money because of it. It's just an extra risk I'd rather avoid.

Prior to that "debt" of mine, why I came to the point that I loan something? For what? Emergency? Miscellaneous?

If it's not about emergency or urgent purposes, I will never get a loan if Im aren't sure that I can pay it and afford it. Why should I in the first place? Im making sure that I have sort of stable source of income before getting myself into a problem about debt.

But generally, there are unexpected things that even we don't want to involved ourselves in getting a loan because we are sure we can't afford it, still we have to. In here the best thing to do is to make a standard aggreement to the concerned party. It's not a wrong move if people will tell them their current status that they have  a problem resolving their debts so that some "things" can be execute for people to be able to pay their respective debts on a terms that they can handle. As OP said, there is an income but it's not enough so surely it has solution based on what will be the proposal.

A lot of people make the mistake of drowning themselves in more debt when they are in a crisis situation , and i have always believed that the best way to handle debts is not getting any loans at all and not having to give back any money to anyone , we should manage our needs with whatever we have because being in lack of something and having a relaxed mind is much more better than having that something and being all the time stressed out because you need to pay the loan you got to acquire that something ..

A stable income is the most important. Then you have to stop borrowing or lending, and know that when you see the debt rising every month, it's very painful, and you're going to suffer a lot of pressure. On the premise of having a stable income, you should set up a detailed repayment plan that will be carried out every month according to the plan. As long as you try to implement the plan on time, your debt will be slowly removed, and of course the process is very painful.

I actually do not like the debt because the debt makes someone's life will be more miserable life.
of course you have to solve the debt problem even though it must be paid by installment.
and after all have paid off then stay away from the debt for your life to be calm.

have too much debt is not good for my life and if my salary not enough to pay my debt then i would immediatelly sold all of my asset for repay my debts and although i have to losing my wealth but at least i already solved my problem and regarding my wealth i think i can able to get it again with working more hard

It’s a burden to handle debt. As much as possible, it’s advisable to avoid borrowing or getting a loan if you can but if you find yourself in a sticky situation then the best you could opt to do is:
Liquidate your assets. This may be painful but you have to pay your debts first or else you’ll drown in it in the future.
Find ways to gain extra income if your current main income is not enough to cover everything. Then lastly, be polite to your borrower and ask for an extension if you can.

Why would you be under so much debt when you know that you don't have the income to pay those? Prevention is always better than cure. Don't borrow what you can't afford to pay. Restructuring your payments may be the solution. But it may take longer period to completely pay your debts. And i hope that will serve a lesson.

Sometimes you cannot just control the situation especially if you're the only one breadwinner in the family.I know its tough but you should find ways to have an another source of income just to pay your debts little by little.Or try to talk to the lender if you could pay interest only but that will for sure prolong your debts.Atleast you never walked away from your debts.

You need to budget your income. If it wasn't enough then look for additional source of income.
I will encourage myself that I can't move on until I paid the whole debt.
As I've said you need to look for other source where you can have more power to earn and this is possible if you really want to get out of that problem.

Best way is to loan and pay it to your debt choose a loan that has lower interest and a loan that your income can handle.

I have this problem some years ago and God help me to come out of it.  Debt can give you sleepless nights and you may needs to work hard in other to be able to come out of it.  You should really tell the creditors the truth state of your finance and make a plan how you can pay from your current financial state.

what if the collector can not be invited to compromise?
I think the wisest thing is to sell all the assets you own whether it's home or land, in order to cover your debts.
but, consequently you will lose it all. and you should start all over again from ZERO.

If it's hard for you to depend on your income,so i think we should start to depend on family and sell some of what you can sell.First thing is to clear that debt before it develop interest,then start to find more suitable income,like taking all the part time jobs or such,push yourself to the limit till you're free of debt from anyone.

It is really a difficult situation I can relate with in a bit. The first thing is to make up your mind to developing a repayment strategy; by agreeing to pay, cutting down mightily on your expenditure. Double up on your works/jobs. Then get a repayment plan.

Afford to pay everytime you have money,if you have assets then probably sell it inorder to pay huge debt.As i was experiencing it too, before i have hardly recover from it but when i knew about this forum this had helped me alot to solved it.As i profited here i have paid all of it inorder to start an new beginning with debt free minds.I have able to continue my life with no worries and hassles,debt had stressed me out every salary came i am much worried because i was left empty handed because i payed my debts but my salary was not enough.I am so much thankful of knowing bitcoin in my life in this way i have look forward to have a brighter future.

How to solve and deal with it? You can't sleep very well if you have that much debt to repay so to make everything good at peace, you have to pay it. It doesn't matter if you don't have enough income to pay for it, what you must do is proper listing of the expenses that you need to minimize. Talk to the person whom you borrowed that money and ask him if you can adjust the terms where you are comfortable with.

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.

In such a situation I would have to ask for help. Perhaps get rid of my apartment and move in with a family member.

You have to think about it way before making the debt in the first place, always remember to balance your live with the amount of money you get and do once you are caught in the debt circle it will be very difficult to get out of it, so make sure you think twice before taking a loan and the funny thing is no bank will be providing you that much loan without having a collateral, so do not worry about it. :P

If you dont like to suffer problems then its much better not to make any debts at all in the very first place.There might be some instances in life that you will need to borrow money or took a loan but you should always consider and think that you can able to repay.Always prefer on your income and dont ever borrow money which would go beyond it because if you do such thing then expect on the hardship or consequences later on.

This is challenging for anyone who suffer from lack of financial income and to those who not able to handle their money in a right ways.

Don't buy or spend too much, which is greater than from your income. Even it was exceed a few dollars or a cents, it still a debt.

Start studying financial management.

Well in that case i would look for another job, when i was in collage i worked part time job which allowed me to pay my university expenses but after that i end up broke with no money to pay for food, so i borrowing from my friends until i deiced to get another job, so i worked as a security guard at a parking at night, i stayed that way until i payed my friends back and finished my collage luckily after that i found out about bitcoin and i was able to start living like a normal person.

I experienced too much debts because of my husband is a gambler. And I handle it when l already give up because Im hiding to all people looking for me to pay my debts. So that time l decided not to lend money again but to pay my debts even little by little.That l know one day I will finish 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.

What a sad situation of yours madam.You suffer the stress and problems due to the activity been done by your husband.Hows he doing upto these days? Is he still doing gambling?If he does then he would make it even more worse because debts will really be a big problem if you let it to go deep. For now just repay those amounts and your husband should be aware on what hes doing.Hes already affecting his wife and suffered because through his actions.

I'd do exactly what Iceland has done: ignore the debt, nullify it, in other words, tell the world that I don't have money and don't care.
Usually in such circumstances people are declaring bankruptcy. You can't make money out of nothing, so your best chance is to start again from scratch and maybe if this other project grows you'll be able to slowly repay the debt.

Budget system would adjust, and there must take another source of income in order to cover up all your payments and debts, sometimes there are people who really grabs some offers of loans without thinking that their income cannot support the total monthly payments, or shall we say there is a negativity of their income between the total debts that payable by monthly, so the solution is take another source of income which is cryptocurrency job or business, by joining campaigns, so even by only small amount of weekly salary but still it can help for another source of income.

Debt must be paid. Despite very much debt, I will pay slowly. Reduce buying
 is not important. Life is not excessive. Pay the debt from the little  and do not make any more debt. Before borrowing, you have to predict earnings,Not to exceed payment.I have experienced it, but after joining bitcoin, it's all done

It would be too stressful to have too much debt and if you have a negative thinking then surely you would not be able to recover from it unless there would be someone who would pay your debt for you which is less likely. You can start of with having a positive thinking and list all your debts. You can go to your debtor and ask if there is a way for you to restructure your debt because they may consider it as it is better to receive something than receive nothing at all if you stick to the original payment terms.

You can start with the smallest amount of debt and then if you paid it then move up until such time you will be able to repay all your debts. It would be hard and may took years to repay all of it. You may have to let go some of your wants temporarily or permanently but it would be for the better.

The choice of a lot of people is to try to find a stable job and part-time job, which will help to make the most money. But if the amount of debt is too great, I'm not sure that the job will help you pay off your debt. So choose to go to a place far away and play hide.  ;D ;D ;D ;D

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.

What are you tying to say about debt? I don't have debt in cryptocurrency because i manage to take out my capital when the market is still good and the one that i am holding with my cryptocurrency wallet is the excess or profit that i got from the past investment and because of that, i don't much care about the price since i don't put all of my money to it.

It was really hard to handle too much debt because you are not sure if you are going to repay them since the cost of living today is very expensive, you can only handle it if you have an excess income monthly but if there's none then it will be really hard for you to finish paying your debts.

Just borrowed what can you afford to pay because you will know it for yourself if you cannot afford to pay it, Must know the obligation, use income not savings, make payments on time or better double up on payments and find ways where to get a extra income by that it can repay it in a fastest way.

Lies if people earn small, if they want to try to earn a big enough income, better set aside money or pay debts before bad things will happen in the future, if have a family or children and those who become victims.

First of all, do not risk more than you can not afford to lose
Well if you already gone too far, i think the installment would be one of the way out mate..

First and foremost, before you came to that point, there is always a reason. Now,that's where you need to start to solve it. Why did you borrow too much money that you know you can't pay? Is it for emergency or just for your caprice? If it is for emergency, those whom you owe money will understand and you have the very good reason to rise and find each and every way to pay them, if it is for caprice, deal with it. suffer the consequence, be it jail time, hunger or anything just to pay them.

If you have to pay in installment, then you need something that produce money at the same time for you. You need to put up a business and pay them slowly. To start with, you have to risk borrowing money from loan sharks since it is easier to borrow from them, then you roll everything over and over again until you pay your debts.

Robbing someone to pay someone seems like a lot to do. it's not the best thing, but smart people will be able to manage their finances, if they borrow money, they will not pay everything, why? they realize that some of the money they borrow must be rebounded or re-gained in order to make a profit. even a little but it is very meaningful for those who have a lot of debt.

The first thing you should do is looking for a side income for help pay off your debt repayments. One way to make it happen by following bounty campaign because we can get some income from this. After that restrain yourself to stop shopping for items that are not useful for us until the debt repayment is paid off. If you do it then believe me, you will be free from your debt soon.

Reason why we do have problems all the time is because we make expense that are more than the income we make in a month. First thing I will tell you to do is use a monthly budget to plan your expenses. After that, calculate the debts you’re owing, know how much you’re making in a month, and decide on which one you will have to pay off first. Create a monthly bill calendar and try to pay your debts on time every month. That’s the only way you can do it.

What you shouldn’t do– some people will advise you to borrow loan from banks. Never do such, doing it means putting yourself into more problems that you won’t be able to come out from.

Just pay it even litlle by little communicate with the one you have loan.. Ask them to consider your payment  you can give for you are not able to pay it now as the amount they require you.. And stay out on debt once you overcome this.. Find extra income to help you in your financial needs... And manage your salary according to your necessity.. 

Avoiding that position in the first place would be a very good idea. You need to pay for smaller parts that are realistic for you.
And invest some small amount in crypto to gain some after the dip is over.

You know how to solve it, when you ask for that debt did you ever think on how will you pay for it? or did something came to your mind that your income wasn't enough to repay it through installment? This is why before asking for a loan/debt you must have a reliable source or if not, ask only the amount that you can pay. Don't ever think to take another loan just to repay this. Sell some stuffs that you don't use anymore, it will help.

Investing in cryptocurrency while the dip is there is the best way to invest your money. I don't think that it is worth it to invest small amount only because for me, it is better if you will invest at least 20-30% of your money into cryptocurrency because they have a very high potential in the future and if you put your best to it then you can expect high return for you investment.

Its not appropriate to have a big amount of debt especially when you dont have an income or salary every month to receive to pay for that debt and one thing more is dont borrow money when you dont need it.

Debts are always present everywhere in the world.  One has to take loans in order to buy needs. And once we take out loans we have an obligation to pay it back.  But it is not easy to fulfill those obligation if your income is not enough,  for me in order to repay debts one should look for an extra income,  I know it is not that easy but then in due time you will gain enough money to pay it back. Moreover, if you really wanted to solve it, you should avoid having debts once and for all.

For me , I know our income is not enough to pay any kind of installments  or loan but meaning to say before you decide to apply that meaning to say it's a obliged to pay your monthly amortization in order to pay must better to side line a   like to invest bitcoin so that can help our problem .

Debts are always something best truly avoided. It just gets in the way at things and it never fails to surprise anyone.
I think borrowing and working for that money would be the best way, but you must talk with the one you borrowed
money from, appeal and bargain. If a deal is struck, by all means one must be oblige to honor it, other wise you
will be in a lot of trouble. If debts are really hard to pay, I think one must truly approach help and find a solution that
benefits all. Debts are always gonna get ugly if not dealt earlier and faster.

Because of the intense stress, I would have severely worn out myself. Even though there is a good monthly income, even when the expenses are over, even the fear and the uneasiness that money will not be left in my pockets is too much for me, and I do not even want to think about what the debt stress would be for living. Besides, if my income can not meet this debt, it is very likely that very bad results have occurred.

Debt can be solved through proper division of your income. Too much debt is trouble so avoid being down by credits because it is not good for our daily lives. When you are in deep debt, it is better to have a back.up plan on how you deal with it. Example, asking your debtors to lessen the penalties or ask for extensions. Second would be find other alternative means of income aside from your regular job or in a business

As the OP stated, he can't pay it in a small amount because there is a specific rate that he is supposed to pay (debt installment). In any case, it will be best for you to find ways where you can suffice the amount needed to pay-off your debt installments. You can either borrow money from your relatives in which they will not ask for interest in your debt so that you can actually pay that debt even in small amounts.

Will to tell the truth,i could not much experience to much debt that i cannot pay those person that i've borrowed,but if in this cases these would happen to me,all i can do is doing a promisory note,and make an agreement,that all of these will be payed accordance to our settlement,and i want to find another extra income to pay  all of these my debt and lastly i pray that all this chaos will be resolved in good and peacefully.

And why would I borrow if I know I could not pay back? But if that is the case, then I would pay him/her bit by bit. The problem is that it depends on how much money you borrowed and how much income you have and whether you are independent or living with your parents. If you are independent, then it will be quite hard to pay back because you are surviving through food, electricity bills, etc... But if you are with your parents, it will be a lot easier.

At that point you only have three options one is to earn more money but we know that is never easy and the second option is to try to renegotiate your debt to get lower interest rates but that is unlikely and third the last option will be to sell some assets that you have and if you do not have any then the most likely option is that you are going to face bankruptcy.

In fact, there can be a fourth option but it is not universally applicable. For example, if you live in a developing country with high inflation, you can just wait till your debt depreciates enough so you can safely and easily pay it off. As I said, it won't work out in all cases, but it definitely works in some. I personally know people who borrowed some monies in their time, then inflation conveniently kicked in massively, and they were able to pay all the debts without any effort.

I think, first of all before taking loan, you should think from what money you will gonna pay it or is your monthly income enough to pay, of course I  understand that in everyone's life can happen  "Force Majeure", so I think only one way - it's try to change agreements (pay less per month and add some years). But I think better to loan from friends or family with no interest.

Although debts make your problem go but you can’t find any solution if your salary isn’t enough to take some amount out monthly and then save it for paying back your debt. We all need to understand that extra expenses must be avoided in our daily life. And if we plan according to this rule, we wouldn’t be taking any loan from anyone and there will not be any worry to how to pay back this big debt.

Right. Sometimes, proper money management is hard to achieve because we easily succumb to our wants, even though we don't have the means for it. If you have a salary, then i suggest to make it a priority to pay up all your debts little by little. Adjust your expenses. You'll feel a lot better when you're debt free or when you see you debts dwindling down.

That is an interesting option, but unfortunately you are completely dependent on the situation of your country and you have no influence on whether or not that is going to happen and if for some reason the scenario you are presenting doesn't come to be, I think you will have an even worse problem your debt will be bigger after months or even years of waiting for inflation to kick in.

That's right. Besides, you may look for the other job, probably freelance job, so you will get extra money to pay your debt. Then take a lesson from this. Just don't do the same thing in the future.

Try to recode in another bank for a lower interest and a longer repayment period. Write a detailed plan for the new bank as you are about to pay the debt.

The Crypto market is still down, so use the money you have to invest in it. You can buy any Altcoin in the top 50 CMC and wait for it until the end of the year, I think it will help you pay off your debts, and God will bless you.

You know how to tackle it, when you request that obligation did you ever think on by what method will you pay for it? or then again accomplished something struck a chord that your pay wasn't sufficient to reimburse it through portion? This is the reason before requesting a credit/obligation you should have a solid source or if not, ask just the sum that you can pay. Absolutely never think to take another advance just to reimburse this. Offer a few stuffs that you don't utilize any longer, it will help. 

Indeed, you are dependent on a number of factors playing out simultaneously. But you are still at the mercy of the creditor, so you will have to consider all available options. Anyway, inflation is not something you completely write off even in the most developed countries, while in the rest of the world people regularly use it to their advantage when they can. Banks in these countries are well aware of this, though, and they often set forth conditions that take into account the inflation rates, so the interest you pay will increase along with inflation. But it still doesn't affect the principal which continues to depreciate as before.

I choose not to borrow ... even if it happens, face the reality .. if it can not pay off we try to pay it

besides that we can find additional source of income to cover our debt in bank. because if we get name of blacklist from bank then we will be difficult to borrow again in the bank

Yes, I feel so many people even got into it in the first place because they want to not just only please themselves, but may be show off. For those who are already in it, then they should really sit down, find out where the whole thing is going, if they are really necessary and start cutting down on a lot of things, to be able to service the one at hand.

After this, I always believe that it is best to live with respect to what you can afford and not live on what you cannot, which is the main reason a lot of people always get indebted in the first place.

If that situation befalls on me, then I would have to be honest and ask an extension or
work something out. If I can I would borrow to compensate the lacking amount in the
expected payment installment. Debt is something I personally want to avoid, it is just
too much of an irritation and it spoils productive and happy moments in life. It happened
to me and I regretted it, hated myself from it. People worry a lot from debts, that's why
I seldom used or avoid using credit cards now. I think more people today are prone to
debt, since the modern wants and needs thinking overlaps w because of the spending
power and capacity people have today. It's a matter of self control and awareness.

The only way to not be in so much debt or probably be able to handle the one at hand is to stop living a borrowed life. A lot of people today have decided to live a life in which they borrow to sustain themselves. Why on earth should you enslave yourself for no reason ?

If you are living based on your means and have set out plan, there is no way you would go into debt. If you want a good life, come up with an idea or work harder to be sure you can meet up. Because earning better could be a definite solution for most of financial problems.

Handling debts is a secondary question as I am living in a tradition where we are being taught from our childhood how to avoid debts. When there will be a lifestyle to lead a happier life within our income then there will be no need of any such situation like handling too much of debts. I am from a "economy of saving" but America kind of country people are following "economy of spending". That is the basic differences.

The key is the self, it can happen because of mismanagement and miscalculation, which expenditure should not be bigger than income. the only way out is to pay partially and discipline ourselves, lest you dig a hole to close a hole, it just divert the debt to another place, maybe to many places that can cause the interest increase.

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. Don’t give up or even escape from debt, running away will just shut down the fact that you have a debt and you can get into the list of their fugitives, your life will not be quiet later if it happens.

Why not try to impose discipline on what you really need instead of what you really want to buy. Foods and all of these sorts of basic commodities that we need in our daily lives is almost enough, while however we tend to not be mentally stable without satisfying our "wants". In bulk of debts, we should focus on that matter rather than using excuses that there is another day for our next paycheck and we could use that to pay our liabilities. This has become a common habit especially for hard earners. Discipline is the way for these kind of issues.

You should learn to prioritize where would you spend your money,
Spend it well and make sure that you could save some money to pay for your debts,
It could take a long time but at least you have paid your debt and cleaned your name.

Thats why we really need to be aware of debt, and better not to start it, never buy something which is beyond your reach. Money management is the key, but when it happened in our life we have to face it and deal with it. First you need to earn more money, it could be find another source of consistent income like selling stuff online which is less capital for doing so. There tons of ways to earn money online you could go with one you enjoy the most.

Only option in this case is to cut down your expenses and arrange the money for debt. Creating another source of money for a person with job might not be possible.

That's just stupid. If your normal lifestyle doesn't allow you to have enough money to cover the installments, cutting expenses won't help. You'll end up living like a hobo and barely managing to pay the installments. There are only 2 options. You can borrow the money from somewhere else, a place that won't require installments, like a friend or a member of a family, pay up the credit and then slowly work your way into repaying your friend. Option 2 is run and hide.

I want to share a general rule when it comes to credit:

When you borrow money from your friends / relatives/ lending group / credit card / local or rural banks, it should not be bigger than your monthly income! If your income is $150/month

The when you borrow money to spend (not for emergency) limit it to $80-100/month.
If the payment is one year circle then make x12 only, it is to make sure you can pay it with its percentage fee, since during your credit days, you have your basic needs too and thinks of it!!

Now if you need additional income, try online selling, it helps too.

Do it on installment basis if you can’t pay one time. Set a budget and spend it wisely, ensure that your expenses will not exceed your income. It’s always good to have an additional source of income to aid your financial needs.

It was very hard to handle debt depending on a contract if it has a monthly or yearly increase, the best thing to do is just pay your debt as long as possible in order to decrease the amount of your debt because lending corporations today are taking so much money from other people.

To avoid these awful situations I try not to borrow the money even if I need it very much. However, if you have a debt, return it regularly by minor parts.

Debt can come with a number of problems. There can be a number of reasons behind the bad credit history of a person. Some people just loose their jobs and are unable to pay off the loans. On the other hand, bad credit may result from emergency situations like medical needs that put extra burden on the person. If you are having a bad credit history, it would be difficult for you to get approved for a credit card. No bank would like to provide the credit card to a person with bad credit history as it involves risk.

It is really hard for a common person to become debt-free once he is trapped in multiple debts. Some people try to focus on one debt at a time while others look for debt consolidation programs. The main requirement in my opinion is to change the spending habits and learn from the past financial mistakes.

This is one of the toughest problem in the world, when you are asking for a debt and you don't know how to pay it.
You need to pay first all the debts so that you can sleep at night properly and you will not think on where your salary will go upon receiving it.
Solving it by paying it will be the most obvious answer and if you are thinking to runaway from your debts, you are just making the case worst.
And if you fulfill paying the debt, avoid asking for a loan again.

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 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.

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 currently

If you have multiple debts, you can consider taking the services of a debt management company. These companies provide the service of debt consolidation which lowers the interest for the borrower. You just need to pay one installment to the company and it then passes on the fixed shares to individual lenders.

Also, as you mentioned, it is important to avoid any new loan till all debts are fully paid.  This ensures that you do not further complicate the situation.

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.

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.


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).

I 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.

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 .

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 .

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.

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.

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.

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.

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?

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.

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 if those debt are growing with interest monthly?do you think your installment payments will cover all of the value?i though this idea is the most frequent for paying debt than everything that has been said here.

Even the court will consider this mode of payments,that installment about what amount you can able to pay,until everything settled

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.

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.

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.


Thats a good option as well. Cutting loose the lifestyle in such situation is very very important thing. Good one.

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. 

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.

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 .
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 .

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.

The best way to handle a debt is to repay it immediately, it was really hard to pay a debt if your income is not decent enough to cover your own cost of living and you are already lucky if the person who lend you money is one of your friends so it only means that you need to do an extra work in order to repay your debt.

If your debt is t a person only,  you can talk to them to stop the interest so you can pay the principal and the interest. But if they continue to put an interest,  you will not be able to pay them. Just be honest with them. If your debt is in the bank or other lending institutions,  that is a bit difficult since some of them wont allow to stop the interest and other charges. All you need to do is to look for other possible source of income. If you still have assets left,  sell it so you can pay all your debts. Once you get out from debt,  dont ever dare to be in debt again. Manage our income and finances wisely. Learn how to save and invest.

We have that in our country,  it is called "paluwagan". This is a bit risky. If it is already their turn and get the full amount of money. Suddenly they will stop paying their share. The next person in line will suffer and wont get the full amount when her turn comes. There is no assurance to this. Some people cannot be trusted. We have another one in the office where everyone who will join will choose how many shares they were able to pay. Every pay day they will pay that amount. Every member can also loan a certain amount. The interest earn for one year will be divided to all members. At the end of the year they will return all their shares including the interest their money earn. This is a big help to others.

borrowing a lot of money. 50% to pay debt, and 50% more for investment or business. at least if the investment can be profitable or business can run well, can to pay off the huge debt. we make like a wheel circle.

In the first place why would you have a lot of debt knowing your income is less? You just have to discipline yourself and budget your income wisely. In the first place that's what you gotta do. Pay your debt even little by little. At least your debt will be less.

A little bit of payment, negotiating with the lender.

Find ways to find a few more jobs to pay off your debt as quickly as possible.

There are reason why people are into debt. Their salaries are not enough to pay all their bills so they resort to borrowing. Another thing is when one member of his family got sick and hospitalize or lose his job. The best thing to avoid debt is do not spend more than what you earn. Discipline yourself.

Well I just hope those people whom I borrowed money won't kill me.

There was a time when my salary was only 4 digits and still have some borrowed money from other people. I was so ashamed of myself and  full of pity. I became thrifty during those times. I only buys things that are needed, buy in small amounts.

After I paid these debts, I learned to control myself in buying things that I want. I learned to priritize and learned how to save.

Huge debt is really a pain in the neck. I also experienced it before but not big (but it is also a hard time situation for me what more for big debt). One thing i do is limit myself in something i want and just have what i really need (especially if you have anwife and children). Also my savings is set aside just to make sure i pay part of my debt. You should also not pass in paying it monthly or daily or whatsoever your payment scheme.

frst I think before asking for a loan you should know your financial ability mate, because the interest on the loan can sometimes kill you, very lucky if your friend does not give interest, but still you have to pay it right? if I have borrowed money then I will be very careful to spend it, make sure that the loan money grows, so you will not be confused to pay for it, if you borrow money to pay for personal needs, I think you should work harder to get your salary higher than your living expenses

Trying to find additional work to earn more to pay the debt and pay little by little. Do not borrow more than the income you earn. Borrowing money is also a very serious problem if unable to pay it at least do not borrow. It will also make you more calm without thinking about it.

first I would be stressed and want to kill myself ... whether suicide solve the problem? I think not, because there are still many beautiful things in this world and bitcoin, yes we have to face it and try to understand the situation we face this. and the cause until debt accumulates and many are negligent in paying the debt in a timely manner and do not understand the ability to pay the debt.
 the way to solve the problem of debt is to stop paying with the minimum payment because the same can not settle the debt and only pay its interest just because it is already late pay the higher interest, borrow money to the family because it will not generate interest and work hard and increase income and tighten spending and the last to pray.

To have debts its very frustrating for sure, but this is not the end of the world. Millions of people are in the same boat right now and many of them are steadily working their way toward being debt free.we can do it too, no matter how you got into debt you can make it out, well if im in the situation of debt,i will be looking another source of income or ill be more focusing in btc. and pay little by little,just be positive so we can surpassed this trials.

Don’t spend more than what you take in, or you’ll be burried down even deeper. Manage your finances wisely. Workout with your creditor, perhaps they can manage the debt that’d be easy for you to pay in specific time span. Some third party lenders offers to consolidate debt loans, you may consider doing that. If there isn’t a tad of a choice, filing bankruptcy might work, though it will take years to build your credit ratings again.

First, talk to the person that you in debted to. Tell that person the real situation and let him know that you are eager to pay your debt but you just need more time.and whenever you got your salary or some extra income.make sure you prioritize your debt first before your expenses.

I myself haven't personally experienced having an insane amount of debt to pay. But if i did, i would just limit my spending to just the necessary ones and really tighten up my budget.  A friend would be helpful in cutting out unnecessary expenses, believe my I've been that friend and i could cut alot. After such, no matter how small the left over after the income then spend it to pay for your debt. Banks could actually bail you out then you can just pay the bank.

I think the best way is to find a job with the highest possible salary. Or you can borrow money from your friend or banker then you should find a job to pay off the debt. I do not know why you pay so much debt but you need to be careful thinking and having a clear plan before you borrow someone's money to invest or do something otherwise you will continue to pay in debt .

Speaking of debt will make my head dizzy. The first step is that I am confident that I can solve the problem with a serious effort to pay the debt. And then maybe in that time I would learn to be jealous for the money I gathered quickly to collect all my debts.

It has really been a huge problem globally and sometime I wonder what could really be the major cause of things like this. Like you said, the only best way obviously is to rally round to get all these paid but looking at the way some people have self-inflicted themselves with debt, one would wonder if they were trying to live more than what comes in for them or they just have this nonchalant way of spending.

The best way to always avoid loan is to live with what you get exactly and always draw up a budget to make sure you are really not doing your pocket any harm in the long run.

I even doubt if there can ever be a country like that. Let's look at it from this angle. If all the citizens decides to collect loan from the bank and ended up not paying, would that not be affecting the banks in general ?

All the above, too much debt anyway is not even a good thing and most people who have ended up in such case either was self-made or some natural causes occurred which was one of the reasons anyway I have always stayed away from debt over the years. Better to avoid by living a life you can afford than trying to handle too much debt.

Hello, why do you have more debt than you can afford?
If this happens, focus on the exit plan - create
and plan your decision to exit debt. Also limit daily expenses and reduce these unnecessary purchases.
P.S. never give up...

I personally think that if I face such a problem, I will discuss it first with the parties associated with my debt to provide me with light in time and in the nominal installment that I have to pay at any time in accordance with my ability to pay up to paid off, and besides that I have to be more zealous and spirited again looking for additional income as my savings so that when all my money is gone to pay my debt, when later my time there is a sudden need, I just take my savings to meet those needs without should add more of my debt so as not to be more and more.
hopefully useful suggestion from me thank you.

By tightening my belt and keep not to spend even a Single centavos if not really needed..
This is simple but accurate advice,because of this you can gather amount that you can pay them little by little,and in just couple of months or year you might knew that they are already paid and you credit free

If you are a person who has the responsibility to yourself, and attempt not to miss any opportunity to make money, save to pay that debt gradually. And when you have to owe too much money until realized. I had a different way of thinking about you:)

You have to sell the goods you have in order to earn money. You can sell motorcycles, jewelry, chairs, and anything of value. but do not sell your future  ;D

I did not meet such ind of situation but i believe the only option available is to change the life style so you will be able to pay your debts. No party, no beer or ice cream and slowly you will pay it out.

If you are handling so much debt  first and foremost  make sure you explain yourself to the person or the organization you are owning. You must work out the modality in which you will get money to pay. do not pay everything at the same time but pay it installmentally

This is what happens when you call the cops. In this case banks are the cops, and exactly that happened in 2008 when many thousands of people in the US defaulted on their subprime mortgage loans. And what do you think? The American government had to bail out the banks which were too big to fail by buying up the piles of derivatives built on these loans and running 3 rounds of what became known as quantitative easing. In other words, even in the most stringent debt policy countries like America, it all depends on how many people are going to default. If you alone can't pay out the loan, it is one thing (nothing good for you), when 1 million people can't, it is a completely different story.

Such is life. Then you die.

Just be responsible and focused. Responsible for the thing you claim, and  just stay focus to you responsibilities, make it first don't be a materialistic.

If we have debt on banks, we can ask for rescheduling and asking more term for our debt. The important thing is before making debt, its better if we spend with money that we can afford and not making any debt that we can not repay
The most important facing our debt is responsible and not run from our obligation

I will make a detailed repayment plan. If my income is not enough to repay my debt, I may use a credit card installment service, first to repay the most important debt, and I may do one more job every day. In order to repay a lot of debt early, it is necessary to do so, only to increase income to make every day. It is possible for you to get out of debt when the debt is slowly decreasing.

Thanks for this question of the forum. This is a very good question. Because now I'm in debt with so many people. So I need to work to make money to repay my debt. I actively participate in forum campaigns to receive bonuses. I will pay off the debt owed to bitcoin.

Discipline and have some source of extra income.  Discipline yourself in just living within your means, if you need to adjust your spending and lifestyle to be able to pay your debts, do so. Also if you can talk to the bank or the institute where you got the debts, you can have a restructure program where in you can pay them still and stop or decrease the interest, that way you can pay for your debts faster.

I am owing a lot to my current income. Do employees pay very few salaries. The only way to repay my debt is to invest in bitcoin. Since joining the bitcoin I have paid half of the debt and gradually I will pay off.

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.

This is very difficult. If you have a lot of debt it will be difficult to pay it off. Most importantly do not make new debt again to cover the old debts and certainly takes time to reduce the amount of debt until it is paid off. It should be simpler to pay off a lot of debt, it's very difficult and takes time. In general, the way is to reduce spending and increase income. If it is considered burdensome and does not have the ability to pay such as car or motorcycle credit, it is better to be released or returned to the leasing party. To solve it is necessary struggle, time, and great patience.

If there is a lot of debt then it is not easy to handle it but I will try harder but firstly I will prioritize the small debt settlement first and then solve the big debt and if possible I will also Asset or sell it off to resolve the debt

That happened to me before. What I did is I always pay slowly and even in small amounts, I pay on time to avoid further interests. Then I did some sideline or part time jobs to cover the payment. I always see to it that I pay first my debt before buying anything for me.

Honestly, I also have debts due to responsibilities on my family. But even though I have debts I can still eat 3 times a day and eat what I want. I have some tips to share for you to know also on how to deal with it. First, once you received your monthly salary or 15 days salary you need to manage your money, like 10% will be your savings, 50% will be your debt, 20% your emergency funds and 20% for your expenses which mostly the happenings nowadays that expense is higher than your salary. You must buy things that useful in your daily living not that spending your money to unimportant matters. Lastly, do not borrow money just for fun or unimportant events in your life. You need to think hundred times for 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",.

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.

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.

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.

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

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.

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.

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

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.

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

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

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.

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.

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.

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.

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.

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.

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.

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.

I will look for additional work so I get additional income. my main income I will use to repay the debt and additional income I use to meet daily needs. ideally the portion of paying debt is 30% of our salary. but if our debt is too much then the solution is to seek additional income for debt quickly paid off.

This depends on the actual situation, if you owe more money but do not worry, can slowly make money to pay, if the amount is too big, you can only sell property to pay, if or not can only apply for bankruptcy.

I think that paying a debt is a primary duty of a decent person. In most of the cases you can't take out a large loan, because the lenders will ask for commensurable collateral.

If you are going to handle too much debt, you should have such income in order to pay a credit money every month. As a variant, you can trade some crypto-currencies and get a profit.

try to apply for a loan restructure, paying it in smaller monthly dues, ask if they can waived the accrued interest and try to change your financial lifestyles, spend lesser than you earn, do not loan to another person or company just to pay another loan, as it only adds up on your monthly dues with added interest.

Right. But first i'd have to talk to whoever i'm indebted to and ensure them that I will do everything to pay off. It's not just the money but the trust that's important. There would have to adjustments with how I manage my expenses to leave an amount for debt payments

I will work hard, have double job and save money little by little. I will pay first those with interest and I will cut off my expenses especially those unnecessary and will just focus on working and saving money. After all my debts will be paid, then I will give it to myself too.

I used to have a lot of debt. It's been a very difficult time. To get rid of debt, you must work harder than most people. My way is to find two jobs, and then pay back the higher interest rate as soon as I get the first income, and I also use my credit card to make the installment service, which has relieved me a lot of pressure.

Start budgeting all the expenses, better to avoid buying unnecessary things and pay even in a small amount, then find a side line work to get some extra income, well crypto is one of the way to get free money it is a big help for everyone but the most important thing is self discipline.   

Debt is the wheel of life, most people never owe but debt can not pay in debt to someone else, will never pay off our debt. So the only way is to work hard and find a side job to earn money to accumulate quickly.

if I am a lot of debt, I do not want new debt anymore, to cover up my debt debt, I have to work harder and have to have the willingness to pay the debt to get rid of the burden of life.

Ask your lender to give you a installment which will make it easier for you to pay your debt. Make payments during your schedule and dont miss your due date. If you have extra time look for extra job or any sideline that will give you extra income. And most of all cut your expenses to avoid additional debt. Join in bitcoin to have an extra income.

Having huge debts, is also a big problem. I see that you have nothing else to do but pay it, pay it little by little so thereby it can help reducing your debt. we must have self-discipline, discipline on how to use money and limit your self on how to use ypur money so it cant make you to have too much debts .

When I moved to my new flat 7 years ago I had to take a loan to buy all the household stuff (furniture, domestic appliances and such like).
I managed to pay this debt only 2 years after and overpaid like 30% of the sum I initially borrowed (credit interest is very high here in my country).
So I would recommend dividing your debt into several portions and paying more than the sum installed by the bank (i.e. if they want you to pay like $500 per month, give them $700 - that will allow you to settle your debt faster).

This is a very difficult situation for a person. It is very difficult to deal with it. Bank loans can be an option. In this case, however, the bank will react negatively. In fact, even the idea of infecting illegal activities can become attractive. But I think I might go to other jobs.

have to go the extra mile and think more to get more results than before. planning expenditures so as not to exceed the income limit and always set aside income to pay installments an important priority.

As you may guess your first step will be to never come to that point, getting into that situation is not an accident, a person needs to spend more money than what he has for a lot of time and ignore the situation, but if you find yourself in that situation then you will need to take very aggressive steps, first try to renegotiate your debt sometimes you will get lower interest rates and second cut your expenses everything that is superfluous needs to go and go to your payments immediately.

Cut your expenses. track your expanses. That's a big problem and could get worst. so First , don't try to put yourself in those situations take risk that you can bear.

Everyone with even a little bit of debt has to manage their debt.Send your payment as soon as you remember to.Use a bill payment calendar to help you figure out which bills to pay with which paycheck.

True i can encounter that too my husbands salary his salary ia always goes to his debt,but after all our difficulies we never get quarrel we do always find ways to our everyday needs thats why i try to join here to get some extra income tO make our life much better and hopefully i will be blessed too like everybody does.
True i can encountet

First things first, first when you received your salary you have to buy basic needs like food etc., good for how many days until you received your next salary, the remaining money pay it to your dept as partial payment, do this things everytime you received your salary until you paid full your dept, and always remember minimize expenses and dept, and as much as possible do not borrow money if not really need like emergency purposes.

I think that could really be a problem that we need to solve. Too much debt would provide us too must trouble as well. It could not provide us peace and happiness so I think we need to do something about it. If ever I have a so much debt, I would pay for it little by little where I am capable of just to lessen the burden that I have.

Pray for it, face it, pay it, sincerely, responsible and stratergically so that those whom you debt with will trust you again and give you chance to pay your debts and also find ways how to pay them one by one and soon enough you will be able to pay them wholely and do not let yourself be tied up in debt anymore.

The first is that debt is not good for one's life, debt can torture a person and make his life become uneasy.
out of debt because it will result in life itself and pay immediately if you have a lot of debt that can be free from debt.

I can't answer you that question, because I never had some debt in my life. I'm thinking reasonably from first time I get my first salary. I'm spending only 10% of my monthly salary and I buying only thing that I really need. I can  take loan and buy new car when I get first job , but I didn't so I rather saving one year and buy it for cash , when all my friends take loan on 5 year.  For people who have some debt I suggest to try put all in paper and see where your money go, try avoid to buy thing that you don't really need it.

I'm not good at it but self discipline is the first thing you want to do then budget all the expenses by that you can eliminate the unnecessary things, if your income is not enough then find another way to earn some extra money, since you where here in this forum I'm sure you know how to get benefit on cyrpto.   

I think  I'm going to apply in a bank loan and pay ny debt.. Because in bank loan, they have very minimum interest and they give extensions.
But I don't think I'm gonna have a debt of which I can't repay. Maybe if I badly need money, I will just ask my siblings.

All people certainly have a debt, especially if we invest or business of course need debt, but the most important thing that makes us have to be wary of debt is whether we have the ability to pay or not, if there is no have ability to paying then you should never debt.

I think it has to start with discipline, you have to ensure that you need to adjust your lifestyle, having a lot of debts means you are not managing your finances properly, so you have to learn from it and change. Then I suggest, consolidate your debts, it is better to consolidate everything then just pay only one institution or bank with a structure that you can pay monthly.

This is an aspect that people do not really talk about that much, not only the interest rates that you need to pay from your debt are going to kill your economic future if you do not how to manage your debt, the stress you are going to suffer for the next years or decades is probably going to deteriorate your health considerably, I have seen some people age ten years in 2 years due to the huge size of their debts while I have a very relaxed life thanks to the fact I hate being indebted.

I think there will be at least 20 members in this scheme. This scheme starts on the first of every month in which the names of each member involved in the scheme are fraudulently written and then one by one the names are explored. It is written in the same way as it was taken and explored.
we have the best solution for this one. The financial support we get from it is almost free but works entirely on mutual understanding and trust. By saying that people who are very trusted will gather together. For example, close friends, family members, etc.

To handle too much debt as I always advise to my partner is to minimize the expenses and always check if that is worth to spend the money. I dentify if it is need or wants. Then save money and pay one at a time until it will fully paid. The important things to do to avoid debt is to discipline yourself.

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.

First of all, why will you borrow money from others if you can't handle too much debt?? Before you borrow money from others, you  must think if how many can you borrow. You must discipline yourself in this thing.

I don't like to borrow too much because I can't handle debt myself. If I borrow money, its only a small amount and I can pay it in short amount of time. Its a shame too for us borrowers who are borrowing money to others and we can't pay it. If you borrowed already and can't handle it, you must put a percentage of monthly salary in it.

Debt is an obligation that must be resolved with full responsibility.
Related to the condition of the above case example I will ask for a longer time to finish my debt.
I will try to earn extra income, I will try to search it through Bounty campaign and also via signature campaign

Some of the companies do offer credit cards to people with bad credits (or in debt) but is has certain terms and conditions. But use these cards only in emergency.

Well, bitcoin is a effective solution and when you think it is not enough you have different sideline to earn money to pay your debt. You must be thrifty and rrsponsible so that you can pay for it. But it is better not to have debt.

Well as they say no one gets imprison because of debts, so pay it in a way that you can, don't force yourself that your important budget might be compromise as well. And once you have lots of debts don't do the same thing, try to eliminate it little by little, at least you're doing something than nothing.

when you have a lot of debt it is better you parse the debt which is a lot and the debt which little after that you try to find a job and you try to pay little by little huitang you have, never run from debt and if can live not too lots of debt.

One of the ways is to put an end to all credit cards. Credit cards make us spend more than what we can afford. We start buying things blindly just to impress others.

Don't increase your lifestyle if your income is not fit to cover all your expenses. Don't compromise your small income to a bigger responsibility. Or else you will end up in bankruptcy. Many people now a days want to show the world that they are rich and have lot of money but full of debts. But if you know how to manage your finances properly and spend only based on your income, life will be easy.

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.

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.

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.

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

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 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.

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.

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

 ;) ;) 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  ;) ;)

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.

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.

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.

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.

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.

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.

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.

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.

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

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.  

Yeah you're right our duty is to pay what we have borrowed, your fault is you have a lot of loan, it should be when you want to ask for debt you have to adjust to your financial condition and your income. so your debt will not burden you. if you already have a lot of debt. paying them periodically is better

All of us has our own debt and I don't think that no one can say that he or she has no debt since we are in care of our parents or our loved ones. We receive help from our friends though they don't want to receive any special things from that, we can say that it is a small debt to them that in time will be paid by a small means. If you are in debt of money to someone, you must take responsibility to that certain individual since will not just lose a friend but you also lose his trust to you as one.

Thats right , when we are born they have already debt not only in financial but also in good things the we want to give it back to others. In financial debt you can handle this with your own decision , honestly i have a debt but not to much because i want to pay it in a right time . If you have a debt try to manage your income to pay your debt and after that make a plan to avoid to much debt .

to manage the amount of debt you should find a job that can give you the money and you choose to settle the most debt first then only the least because it is for your spirit to make money to make as much money to pay your debt.

Seriously? You just relax while the one you have debt with is worried when you'll pay because he might need money and even you think he doesn't need the money you still have to pay. And the rule of life is live without debt so pay your debt and live your life worry free.

As per OP, if I have debt of course I make sure even little by little I pay the one I owe money. They help us when we need money and it's our obligation to pay them back even nothing will be left for us.

In such a situation I would try to negotiate with the moneylender about reducing the sums to be regularly paid.
I'm sure there should be some ways of refinancing the debt, no matter what kind of a loan it was.

Yes, exactly too much debits will make to diversify our incomes because without finding other sources of income, it might be difficult to handle. So we have to find other refinancing sources in order to get the loan for low interest.

I think you can try to pay little by little, negotiate with the lender. ask for a longer time with smaller payment installments, negotiate. Trying to switch to a profitable investment
 In order to pay off the debt.

debt is almost a habit of people in general. and this is very difficult to avoid. but we must be able to limit by always considering the income we can make. how much we should have a sense of responsibility to pay for it by getting more of our daily income by working and thinking more. then we should be wise in making decisions when wanting to owe.

Once you borrowed money it is really our obligation to repay such thing and the word relax is just fitted for those people who do know that they can repay such debt but if not or you do struggle for sure you would really be stressed out how to resolve it. This is why if you dont like to experience such thing then its better not to make debts or do have loan at all but sometimes in reality we cant really avoid to do such thing because in times of need we do really borrow specially on emergency but we should repay it once we do have already a cash.

In life, debt is a common thing, especially in business. All we have to do is stay responsible for paying. and we can not do it when our income is less than the debt we have. so start saving money and looking for income beyond our regular earnings.

I think it will boil down to discipline in handling money matters. You won't have debt it you are a responsible person and i admit it is easier said than done. Since you are now in debt, you have to face it and you have to organize a payment scheme to your debt. Pay it slowly and regularly, be sure to be attentive to what or where your income went.

You can also try to negotiate your debt with banks since they do not like to lose money but this is a lot harder since you probably agreed to some terms and conditions about what was expected of you, but it is possible so if you are in real trouble there is nothing to lose and try to renegotiate the terms of your debt but if the debt is too big there is not other way than to try to earn more money and anyone that has tried to do that knows that it is easier said than done.

You know what I think about all such problems, they created just because the person handling such fuss, he really doesn’t know what to do. He just come over through some friend or some colleague who have shown him the glamour and money out of this work. He doesn’t learn the basics of trading or investing and just dove in the pool to check how luck would play with him.

I think you need to change your daily routine in terms of budgeting your salary. First try to minimize your expenses, if it is not important don't spend too much, don't always eat in restaurants, if you could cook for your self much better, try to add more percentage in your savings. After setting those things try to check if you save more than expenses. If the results is positive then continue until you settle all your debt. I hope this could help others to resolve their problems.

In my own opinion, while I have stable job, I will find extra job to get extra Income of course and maybe this bitcoin forum Is suit for me, since my salary Is not enough In our daily needs and other expenses.  Because of bitcoin my problem had been solve and now, I didn't feel any crisis because I already had an extra Income which might bigger than my salary.

Debt come into being when all income available to the person cannot pay all bills instantly. You take records of all your debts and their interests. Take a decision to pay off your debts and be free from debt burden. Try and meet your creditors to accept whatever amount you can afford. Pay your debts first from whatever income you received. You need to expand your means of income. Taking advantage of the technologically driven economy to engage bitcoin and other cryptocurrencies to completing your income.

Yes. I agree with your opinion.
must be repaid debts. and do the installment. for debts must be met. and if not, the installment should be postponed only. and set the date to pay off the debt.

If I were to have a large amount of debt that seem hard for me to pay, I will first ask for forgiveness for the person I debt with and promise to pay my debt responsibly and accountably  and find ways to pay for it in anyway possible-installment is also one option as long as there is sincerity to pay.

first of all you must know it is you responsibility that you are in debt, second is that you need to discipline yourself to be more wise when spending, 2rd and most important you must divide your funds accordingly, and little by little pay your debt, because of you will just ignore that you will someday wake up drowned by your own debt, or if you will try to run, you are no different of a thief.

To be honest, I haven't been in that kind of situation, so what I think the best route that you could do is to call for help. I know its going to be another set of debt among your friends and family, but what's important is that you have relation to these people this time, and not just some bank that will take no consideration of what your situation.

If you manage to do that, this time don't make the same mistake. Discipline yourself - have plans, I'm not an expert whatsoever but there is an equation I learned in college when it comes to your savings. That is: Income - Savings = Expenses, smart right?

If you don't want to be in full debt then learn how to avoid those unnecessary things in your life and know your needs versus your wants and sooner you'll have at least some savings and you don't need to borrow money from others. I must say my father raised me in a belief that just be thrifty so you won't need to borrow money as having a debt free life is like having a sound and good sleep every night. An inner peace of mind that not everyone have.

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Communicate properly with the person whom you owe money. Tell them to pay bit by bit, then find an extra job that will compensate your debt. Discipline yourself in handling money, don't borrow money to pay for your debt. Listing down all expenses will help you manage your money. Be a good steward.

That is good advice but do you know why people do not do it? Because it is hard, people of today are simply to used to get everything on demand and without any effort, being a disciplined person is really difficult for them and then when they see something they want they cannot wait for it and save money as they should until they got enough cash in hand to buy it, they pay it with credit, then things get out of control and spend more money until they find themselves buried under a mountain of debt.

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The best thing you can do about debt is to stop burrowing money and try to work hard and lessen your unnecessary endeavors in order to have a budget on paying your debt and not go broke.

It is also really important to prioritize and pay the debt that has the biggest interest rates and if possible try to consolidate everything with the lowest interest rates, a way to do that is to get a loan on your house since those are the loans with lowest interest rates and then pay debt like credit cards that have the biggest interest rates, you still have your debt but now the interest rates are more manageable and if you are consistent you will eventually eliminate that debt.

Of course i will not let that happen specially if i will do debt for the not important things. But if I'm in that situation, I will make sure that as soon as possible i will pay my debt and seek some extra income. Discipline your self is one  of the important thing to do.

There's not much you can do but pay as much as you have.

One thing you can do is sacrifice hard. Eat less, buy cheaper version of the food you eat. Cut down on electricity use, and so on.

What you are saying is not correct as cutting your food and electricity won't solve you're problem but you have to work hard and work more to earn high so that you can pay your debt soon

I would sell every single thing that I could. Video camera, video game systems. Perhaps even rent them out.

The only way for a person to handle debt is through saving more money in order to pay debt and lessen their unnecessary endeavors to save more money.

If you have loans to banks in my opinion you if you can should take loan from a place that you dont pay interests. If you do that with a stable income and a successful plan you can pay your debts in a much easier way.

I would live in my car until everything is paid out. Where to shower and things like that? When pushed to the limit people become creative.

If I accumulate too much debt, which I'm in danger of doing. I guess I would move back in with my parents.

there are numerous  ways  one  can   deal  with such issue. one  of  the  efficient ways  of  doing  that  is  by  simply  cutting  down recurrent  cost. by  so  doing  you  will be  able  to  realize  a huge  profit, which   will be  used to pay  the  debt. when  doing  this  you  have  to  be  keen  so as  to avoid  compromising  the  quality  of  service  or  goods you  are  offering.

selling  few  assets  to  pay  the  debt  is  also popular  among  a   number  of  firms.  this is  essential  since  the entity  will  not  have  to  spend a  huge  sum  of cash paying  for  the  debt for  along  time.  instead  the money  being  made  from  the  business  will be  invested  back  to  the  firm  thus  making  it more competitive in its  field.

institutions  with  good  credit  history  can  also  renegotiate  the  terms  of  paying  the  debt.  this  is  one  of  the  major  reasons  why  people  are  advised  to have  good  credit  history. Doing  this  in  the  right  time  will  be  of  great  essence  since  it  will  create  trust  between  the  two  parties.

There are two different scenarios.
If I own some property then i can use it to pay my debt.
If there is no other way out not even property to sell or use, then i will prefer to do part time jobs, and work as much as i can to meet my debt installment/requirements.

To lend money from any other source to pay your existing debt is a bad idea, it will increase the risk.

Debt is ultimately depreciated by inflation as the governments of the world use this premise to borrow every day more then they could otherwise handle.   Whats really important here for debt is the course of time set to repay and the interest rate agreed.
If you have a fixed interest rate then its possibly manageable debt.  Due to excess debt world wide, its very likely we have increasing inflation so a fixed rate vs a rising supply of new money should mean your debt is repayable.   

A lot of people find themselves in this situation. I have found myself in somewhat similar situation in that I needed to find a new place in days. You're completely out of your element, your environment is dictating your next move, and by that you should understand that eventually it's going to be over.

While in some cultures that are very independent going back to live with your parents is a sign of failure, if you are that indebted then you need to move with them right now instead of waiting for your debts to be so big that you will need to do it anyway, if you do that you will be able to save money in rent and utilities which are some of the biggest costs when you are living alone and from now on you need to cut expenses as much as possible so you can pay your debts as fast as you can.

I would change my job. There are other fields that you can earn good money by working so hard. I would work in the countries that gives good salary.

Easy to say but would really be hard to do when you are already in the middle of the situation. Switch job? Lets say you quit on that day and what if you wont able to get in with other job then for sure you are fucked.
Work on other countries? Easy to say but resources would be needed. What if you dont have such support funds? You will still end up on becoming jobless because of such decision.

IF you cant able to repay such loans then its better not to took a loan.

If for example I have a lot of debt and I can not afford to pay it with small salaries or producers so unable to pay too much debt maybe I will do a hole dig dug hole system because with this system maybe we will be able to minimize my problem right now even though my debt is never exhausted

in my opinion to be able to control the debt that very much you can by finding a job that can help you to alleviate your debt because if not like that then your debt will always exist.

Many write "if you can not pay off the debt, you don't need to take it." And if it already happened? There are not many options for solving this problem. I think that you need reach an agreement with the bank so that it allow you to pay off the debt in small amounts that you can pay each month. This will take a long time, but there is no other way out. And also you have to find additional job, for example, turn a penny in the evening or on weekends.

Having a debt is very heavy especially having enough debt, some may commit suicide and also do something desperate like stealing etc. other crimes. But if I have a lot of debt, I will look for a lawful job and I will pay the debt little by little. The point is I do not want to do bad things let alone do a negative thing.

First you have to educate yourself to be disciplined in debt matters. But if the income you get is not appropriate to pay the debt, try to apply the savings patterns and also look for additional jobs. that's all I think.

I can remember the words of Henry Ford, he said to became wealthy do you need to do two things, spend less and earn more. So this is the answer for you also.

You need to have a self-control of borrowing money. First of all, if your salary is not good enough to pay all of your debt just pay half of it. Discipline your self not to buy the things you do not need, don't eat to the expensive restaurant, in this way you can save money to pay all of your debt and when you finish to pay all of it and you need a money just borrow a small amount so that you can pay it easily.

Handling debt is not easy because the debt can actually grow if you are not good enough to save money in order to pay it, just always try to save money every time you are earning your income in order to have something for emergency to avoid debts.

You should make a list of the debts you have so that you can track them. From that list you set yourself a goal that in a year you will write off how much debt. Setting goals is important and remember that you have to be self-centered for the pursuit of accomplishment. So, you soon escape debt scene.

Aside from listing the debts you should also list the flow of your cash in and cash out because that will give you a overall view where you money is coming from and where the most of your money goes so you will be able to adjust and save a few of those money to be settled for paying debts so you debts will be smaller and smaller.

That is right make some priority listing of your debt from the priority numbet one to the last and calculate your income for that month if it can replinish your debts , so find away other income to pay for this debts , the priority debts must be those with overdue interest so that tou will not be paid for more penalty, and then pay the debts next with no interest.

Reading this post just make me remember one of my friends that have a good amount of debt but he seems unable to pay it so he make more credit card to cover it up and its like a never ending cycle and the weird things is he still add some debt to his account, i dont know what he is thinking, he is a good man one of good friends of mine. I do even think to offer his some money so he would able to live freely and paying his debt without interest. But i do think to lend money for paying a debt is not good things and the thing that could help him is to pay his own debt by his own afford so he would learn its not good to have any debt and i hope he could changes from it. I really recommend you to pay your debt little by little i know you could do it cause seek any help to pay debt is not good, it would just make you become more debted to someone else and it would become never ending cycle and could goes worst. The most important thing is you need to know your limit for something that you wanted and you need to learn how to manage your financial.

It's true and don't spend over what you've earn so you don't need to loan money from others. Actually, I still didn't get experience to have so much debt as I always made sure that I still control my emotions in spending. Whenever my friends teases me that I'm so tight with the money, I'll just say to them that it's better than being this than to be act like rich yet you're in total debt. And I prefer to act like broke in front of them. ;D

I haven't been in that situation because I get rid of having debt. I think the best thing to do is to find another source of income aside from your job so that you'll have something to pay for your debts. It is actually a burden and would just stress us out so we must get rid of it as long as we can.

Too much debt caused someone to become depress. I do not yet have a big debts because I am just a young and I am hoping to my family specially to my siblings though there are times that I support my needs and do not demand upon them. If ever I encounter a huge amount of debt then I will push myself to pay it but in legal procedure. I know that praying will give them also an indirect payment, therefore I will always pray for their success.

Is this situation related to the crypto currency? I would advise you to find other ways of earning money, in which you can greatly increase the monthly profit at the same time costs.

Well, if I were that person who are in a great threshold, burden who can't think properly because of too much debt or liabilities. I would rather choose to manage it face to face rather than running away of it, because it will not disappear, and it will continuously haunt me everytime. So, the thing that need to be raise is that, you should face it, and do a definite strategy that would make you overcome such problem specifically your debt. It could be overcome not in a boom, but little by little.

- And we need to focus on big debts with high interest rates, settle this debt quickly is the best way for us to get out of debt early, if we do not have enough money to settle immediately, we should try to borrow friends because they are the ones who can lend us the money and the interest rate is 0%. However, do not be subjective about this, pay them the fastest when we can, we should not let prestige and affection between the two have rift, the fastest way is to create an additional source of income by doing more part-time jobs after completing a full time job.

By not getting into it in the first place.

First of all, it is not to do so much debt... Borrow from your family to avoid interest rates.. If there is a need to take a loan, then take it, but first of all get a job, so you know that you can pay it off....

One, don't have more debt. So ficing finances for leaks is tge first thing to do. Next, have a payment plan. If your current plan doesn't work, ask the bank for a different one. Lastly, look for ways to have more money on the side. Investments and additional work would help greatly. I myself lived off instant noodles and eggs for months to pay a debt.

I think it is not practical for me to just borrow again to just pay your debt. It is best to hustle more and find more opportunities in your place or country so you can have more source of income and you should be smart in spending and also putting it into another possible business because if you are not careful enough then you will just lose the chance and you will get into a higher debt because you will be lacking more in terms of money.

nice question specially nowadays because a lot of people are experiencing this kind of situation...for me first thing to do is lists down all your debts starting with that of high interest and then write down your income...pay first the one with high interest...look for a sideline job if your salary isn’t enough to pay your debts...manage to control yourself or refrain yourself from using your credits cards..better not to have one (credit card)...every month lists down all your bills also...make a table for expenses versus your earnings...it is like making a time management...

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, face facts, discover the extent  of our financial problems.

In managing debt you should learn to do cost cutting. Stop spending money to things that are not necessary. Only buy the basic needs in the household. Learn to cost cut your daily expenses. Stop going to malls, stop eating in a  restaurant. Cook your own food in the house and share it with the family, I tell you it can help you get out from debt. Stop buying things that are on sale because you thought you save a lot from it because it is not true.

You need to cut off the unwanted expenses. If you used to eat out you should cut it off and try to eat at home as much as possible and the savings from that eating habit can be used in paying yoir debts even if its small amount. And discipline yourself not to buy anything. Try to find for an extra income that could help you in paying debts.

There are many ways to solve a debt. Ask the lender to extend the repayment period and find a better job to repay. Bounty campaigns will help you get some high paying jobs and you can pay off early.
Besides, you should not despair. Just try to do everything to pay back your debt. Luck will come to you and you will have a very expensive lesson.

Come to think of it it's so hard to handle too much debt, it's a big responsibility but you have to face it, first I think is try to talk on that person and explain and cut expenses, get other extra income talk to your family about the problem.

If i had lots of debt I am going to lessen all the expenses that is not needed and will save more money to cover up all my debts. It would be harder but i need to cut all of it so that i will be debt free.

reschedule our payment period maybe could be best solution for our debt.make it long term with amoung that we can to do.looking other side is mandatory for us so we get more money to pay it.

whatever the reason for the debt is a problem that must be solved so I think the lack of income earned is not an excuse not to fulfill its obligation to pay the debt. I think the most important thing is a good communication between the parties who lend the debt and who have the debt to be able to pay it off.

Some people has this funny attitude of borrowing another money from a different person to pay the old debt they are owing. It looks so stupid, cause you’re still putting yourself in debt. The best thing is to stop putting yourself in further debt and find a way to pay up for the one you’re owing through hard work. But if you continue to borrow from different persons to pay the old one, then the chain continues and you’re never going to be a free man.😑

I agree with that. Good communication will really help people to understand each other's side because they will know what are the updates or what is happening to the both sides so they can easily understand why can't pay the debt or why they need more time. If you will go and tell the reason why you have a slow process of paying debt then i think that lender will consider that and will wait more and because of communication then there will be no unnecessary chaotic scenarios.

That is very easy to say but it is really difficult to implement, moving to another country has a lot of difficulties, like the language or culture, also many countries require that you have a working visa and those can be really difficult to get, you will need to have a set of skills that is difficult to find or you will need to have skills the country is specifically looking for at the same time it is really difficult to find a job with a good pay, this is not only difficult in third world countries but in first world countries as well.

If I am a person who has a lot of debt and it is difficult to pay it off because my income from work is not enough, then I will sell everything I own like home, land or whatever. Because of how also debt is something that must be paid off.

Easy, earn more, spend less. By doing that you would eventually deal with the debt that you have. Because it would be decreasing by a small parts every time. But also it depends on how much time do you have.

I would say do not gamble it in crypto, as debt collectors do not take bitcoin for payment. However, if you do not trade then there is little chance of paying it back. Put in a small amount on the exchanges, participate in bounties/airdrops, and keep going until you get enough to pay it off

Not to have any debts, I never borrow the money and I never take any credits. If the person has a great debt, he can find another good job to get more fiat.

Divide your debt into parts which are less than 20% of your monthly income and start paying out your debt every month, step by step. You have to set your mind on enjoying paying out that debt more than going to cafes, buying expensive unnecessary things or paying for any other entertainment, because now your biggest entertainment should be doing something for reducing your debt. Since you are concerned about how to solve this problem, you can't actually have fun with other things.

I've been this before wherein the salary I got from my regular job isn't enough for the needs of my family and to pay my monthly bills.It's almost 10 years that I am financially troublesome and my last resort was to resign to pay all my debts and be able to give the needs and wants for my family and kids.Now I have my new job and what had happened in my past was a lesson learned and now I know how to balance my budget by limiting my wants from my needs to be able to free from debts.

Most common mistake its ask for more mini-credits to pay it.
I dont know which is the best solution; part-time jobs seems to be an income that should be consider until you pay back the debt. It hard to answer.

I've been this before wherein the pay I landed from my general position isn't sufficient for the necessities of my family and to pay my month to month bills.It's just about 10 years that I am fiscally troublesome and my final resort was to leave to pay every one of my obligations and have the capacity to give the requirements and needs for my family and kids.Now I have my new activity and what had occurred in my past was an exercise educated and now I know how to adjust my financial plan by restricting my needs from my should have the capacity to free from obligations.

I think you should find a job to earn money to pay your debt that is the only way to pay your debt. You should not spend too much money when your income is not enough. In addition, you can borrow money from your friends or acquaintances to pay for the person you owe, and then still have to find a job to make money and pay back for them.

This is the right advice people enjoy too much spending money and even worse they love even more to spend money they do not even have, when it should be the other way you should enjoy paying your debts and saving, those that do will have a better life than those that do not even if they earned the same income, those that spend money do not understand that by spending in unnecessary things they are condemning themselves to work for the rest of their lives and that is something I do not want.

First, consider the priority of the debts in terms of the most pressing. You may result to dialogue first with your creditors. Depending on how the dialogue goes or who maybe be ready to give you an extension to pay off the debt you owe them. Maybe this few steps might help.

Better not take debt that we can not afford to pay. We should calculate our income and our expense. We should put at least 20% from our income for saving and investment. But if we already have big deb, better asking for rescheduling

If you have too much debt you should take positive action to work as well as have specific repayment plans and never deny your repayment so it will not be good for you

Maybe you can have the option of debt restructuring so you will have to talk to the creditor if he would like to take the option because the creditor would likely to just choose this than not receiving anything at all. Find an opportunity to have an extra income so that you can pay even small sums and reduce your debt.

Do not look for a one time big time solution like you will just gamble and hope to win so that you can pay it all because most likely you will just lose but instead have a list of all your debts then start from the small one so that when you are already paid out some of the creditors, it would lessen the weigh in your shoulders.

have that debt we have to pay it otherwise our life will not be safe until the hereafter, because it has debt. If you have a lot of debt and can not afford to pay or no money to pay for it. You simply sell your barrage that is not used anymore or if you have your asset sale assets with a relatively good price. That's the only way to repay the debt you have, because it has a lot of debt is not good.

When there is too much debt, may be sold out their part of the encryption to repay the loan, as an investor you have found that every time want to use a lot of money only to find the encryption has been down in price.

We cannot deny sometimes we can be shorted with our budget but this situation is natural especially if you have family already. For me it is simple, I will just make cost cutting with our expenses at home. I will make shorten of the use of the things that can add to our budget. I will let family members to help at this situation that we have above all I will pray to God that He will guide me through this I knew HE will give some idea on how to get out of debt and make me financially free.

Well you're right. First of all it's important to keep your integrity so that if ever you get in a situation where you're in dire need, people won't hesitate to help you out. Being honest and making it a priority to pay off is one the best things you can do at that point.

At first, you should know how hard or how heavy the burden of having debt is. If you can't pay for your debt then get rid of borrowing too much than your earnings. Try to pay for your debts little by little or through installment. Try also to look for another job to have another source of income.

Always work hard. Limit the use of unnecessary money. Plan a specific repayment schedule. Get more work outside of your regular work hours. Do not let others borrow your money and especially you should not borrow more money as this will make your mentality tired of growing debt.

Yes, I've noticed that when people go in debt, it's the unnecessary things they buy with the borrowed money most of the time. They think that they need them and sometimes they think that they can't live without them even, but it turns out that the joy from having those things doesn't compensate the low mood associated with having a debt.

In our modern world there are numerous ways of paying debt even if you are short on money.
For example you can take another debt to cover previous, many credit companies offer such a opportunity today.
There is always a possibility to pay in small amounts as well.
But to be honest, try to avoid debts, especially in crypto better to use your own money at your own risk.
Money taken from banks or anyone else will always keep you nervous as long as the price of your crypto will go down.

the best way is to restructure our debt by extending the payment period with a small repayment. this will greatly ease us in paying the mortgage. and no need to find new loans.

The greater part of the general population today spends their pay to pay their obligation. There are numerous alternatives for taking care of this issue much obligation. I think the best activity is to discover another wellspring of pay beside your activity. You need poise of acquiring cash. Rundown just the things that vital to purchase. Spend your cash on the diverse speculation. Budgetary arrangement has a vital entirety.

The only thing we should do before borrowing money from lenders and other financial institution evaluate ourselves first if we are capable of paying the amount that we are going to loan because evaluation could lead us before we could have so much debt. We should not borrow what we cannot pay. Otherwise that is a very big problem that will result to bankruptcy.

In case of me having so much debt and my income is not enough the first thing I do is to make a plan on how to properly budget everything in my small amount of income. After that, do some research on part time jobs and grab it if it is not that difficult. Have a deal to the person who you in debt. Pay them even though it is a little so that it can be reduce little by little. I think it is better to not borrow any money from lenders because I think it will only adden to your debt.

One should always manage his expenses, rather than getting into the trouble of debts because debts can be taken easily but then returning them is a very big problem. However if someone had a debt to pay, then he must make a tough schedule for himself, he shouldn’t waste time and money but he must live in such a way, which favours him to save his money. In addition he should also do a part time job.

Take measures to ensure that your income keeps growing. Do this not only by raising wages, but also by investing. Be engaged in financial self-education. Today, we have the opportunity to buy anything on credit, and this causes in people a lot of temptations to live beyond their means.

Having too much debt does not happen overnight, it is a process that most of the time it takes years or even decades and if you want to get out of it the truth is that it is going to take you almost the same amount of time to get out of the problem, however most of the people that get into debt problems are not able to come up with a long term plan to solve their problems because if they could they will not have those problems in the first place so they try some quick fixes that most of the time only makes things worse.

Now people can lend you very little, they lend it because they trust you so borrow on knowing they have the ability to pay for them. Never lose the trust of the person who trusts you and lends you money, money can be easily earned but trust will lose it will be very difficult to get back.

I guess that's a bit difficult, which is why many people get stuck in debt for not being able to pay the mortgage, they spend more money than the amount of income, you can just apply for another loan to pay the previous installment but the cycle will continue some people call it racing rats.
that's why you have to be good at managing your finances, you have to keep your expenses lower than your income that's the key.

Tips in handling too much debts,
1. Know who and how much you owe,
2. Pay you bills on time each month,
3. Create a monthly bill payment calendar
4. Make at least the minimum payment
5. Decide which debts to pay off first
6. Pay off collections and charge offs
7. Use an emergency fund to fall back on
8. Use a monthly budget to plan your expenses
9. Recognize the signs that you need help.

  You know that is the very difficult situation when you had so much debt. You should handle it and solve by your own technique. The important is you will pay your debt even little by little. I know every people can't avoid debt but you should know how to handle and repay your debt.

If I experience the incident, the first thing I do is adjust my needs with income and the second I will look for other income, meaning to work more.

There are many good tips that you give but some can be improved, tip number 4 should say make more than the minimum payments, if you only make minimum payments you are never going to pay off your debt, in point five it should say pay off the debts that cause the biggest interest rates, most of the time this means paying off your credit cards, and the point number 9 should be that you must get help since most of the time a huge debt happens because of unhealthy spending habits.

If there is no longer a possibility to repay the debt, then it is necessary to restructure the debt or declare bankruptcy!

Double the effort on spending time to get more sidelines to earn. This is the only thing that could possibly help an individual having too much debt. Aside from that they could also venture on cryptocurrency but is should be expected that the ROI for this is that more or less you are going to earn in a simple buy when market price is low and sell when market price is high but it could take time to more or less 6 months.

decrease the risk step by step, separate the risk as an ill man.

I dont have a debt but iam some rules to manage my money. My opinion its all about you manage your money, your spent money must balance. if not you will cant pay the debt.

I will put off with all form of extravagant life style and push the money saved to buying my debt. Map out some percentage of my earnings for debt servicing.
And try to live within my means moving forward.

You're right. Money can be earned. But trust is not. When they give you a loan. It is because they trust you, knowing that your payment is possible. But usually the rich are the ones who owe the most. The more debt, the richer. The formula of the rich. And lenders always trust the rich. That's how smart it is.

I believe we should know our limitation and to stop being too impulsive. Before we do things we should determine what are the possible consequences of our actions. If you have much debt, I think the best way to do is to prioritize what to pay first and learn a lesson from the experience. Formulate a budget plan and follow it religiously.

What im going to do is i will separate the money that i use to pay my debt. I will make a budget plan so that i save money and i dont hesitate to borrow money to other. Make some extra work to earn extra income to pay the dept on time. Practice your self not to buy expensive things and dont eat in a costly restaurant to save money.

I agree to that, we should visualize the possible overall look of what we are trying to do in the future. It is about having a great perspective so we will think about the possible best and worst results so we can prepare ourselves and have a back up plans so we will not become disappointed at the end of the day.

I'll make another loan and borrow from anyone else that is willing to give me a chance. Pick the best option where there is a low interest rate or has no interest at all. You can also solve it by leaving the place so that that person you owe money so much can't  find you ever again.

Its really hard to handle debt i know it and the it will became more and more and you debt is going to become bigger if you cant manage it. I could say this cause in the first place people who have a debt because they cant manage their own financial, so how you expect them to manage the debt? I believe the only way to solve it is to know how your financial limit, knew things that you can buy and things that you cant buy atleast in short term. Juat try to manage you financial and pay your debt bit by bit, i think its the only and the simple way to get out from debt.

Get a real job and work hard to pay your debt, i think there is not other way to solve it beside pay our own debt. You take a loan and you must pay it. I mean, what is other choice? Borrow money again from your friends or your family to pay the debt? I don't think so.

First of all be patient to all situations. Solving it by paying it will be the most obvious answer and if you are thinking to runaway from your debts, you are just making the case worst.

well, if I have too much debt, I'll do these three steps:

first, I will be determined and earnestly to pay off my debt because a strong intention will help me pay off debt sooner or later. just wanting without strong intentions will not work

second, I will live as economically as possible. reduce all unnecessary spending like traveling, watching movie at cinema, shopping and etc therefore I can save some money to pay my debt off

third, I will look for additional income outside the main job, finding second or third job. for example, taking freelance job like being a bounty hunter in this forum :)
hence, I will get extra money to pay my debt off

Debt is a very difficult thing for most adults, too much debt is when you have to play more than you can or all you can see in life is your debt.

If you’re taking to court you yourself decides how you want to pay up debts and how long it will have to take depending on your monthly income. But if you are in debt and you don’t want to get into more trouble the best thing you can do to help yourself is to stop borrowing more money to pay up the old debts, cause they more you borrow money the more your debt continues.

Some people will even advise you to collect a loan from banks, but that’s even the worst. Just work hard to earn money and pay up your debts and be a free man. That’s the best thing you can do.

Its extremely difficult to deal with obligation I know it and the it will turned out to be to an ever increasing extent and you obligation will end up greater on the off chance that you cannot oversee it. I could state this reason in any case individuals who have an obligation since they cannot deal with their own budgetary, so how you anticipate that them will deal with the obligation? I trust the best way to unravel it is to know how your budgetary utmost, knew things that you can purchase and things that you cannot purchase atleast in here and now. Juat attempt to oversee you money related and pay your obligation a tiny bit at a time, I think its the main and the basic method to get out from obligation.

you said, get a real job?
okay, then what kind of job is categorized as a real job? and what if the due date is coming but you still don't have any money to pay?

I agree on this. Its more on financial management or money management issues. Get a job or find any means to earn and pay your debt. Regain your reputation, be honest. If you cant pay in one payment,  arrange with your creditor for an installment.

One of the biggest issues is that people never make a balance sheet to find out where they are economically, a balance is similar to a medical checkup, every year you do it to see how healthy you are and the same is true here but people are afraid to do it because most of them will find out that their economic health is terrible, I have not been working for that long and yet I'm in a way better position than most of colleagues simply because I know how to manage my money.

First thing I would do is making a balance sheet. There are many things in life on which we spend money but not every one of them is really needed. So, you can stop spending that much money and start to diligently pay your debts.

First and foremost, prevention is a must. No matter what happens, we should spend less than what we earn! That's the golden rule. But since you' ve already trapped with the jail youve made for yourself, you have to keep yourself from it. Consider sacrificing some common things you buy to pull an additional budget for the payment of the debt. Do it until you finally paid everything.

This is the perfect strategy, If you follow it, you will avoid a lot of problems. However, the better policy is simply not to make any debts and do not take credits.

To reduce the loan you do not go out and borrow another loan to repay the loan, if you plan on rolling you will reach a point that you will no longer survive and then everything starts tumbling down, first and foremost make sure that you meet the expenses according to your income and not to take too much of a burden, if the initial steps are flawed then your entire money management goes down the drain. The only solution is to cut down your expense and reduce the debt.

There's so many reasons why people intended to have debt or lend from other person. For me if there is work the wage is not good enough and benefits given by the employer. Then the price in all products use by daily life are always increasing dn the wage or salary did not increase thats why some people intended to lend. The solutions for this situation need to budget and less spend than in salary so that Soon or later can aware on how to have the word " SAVINGS".

Lol, this is the simplest as well as easiest way to deal with debt.
however, running away will never solve the problem. After all, haunted by guilt due to debt is not good and can be a nightmare leads you to insomnia.

Too much debt is a big problem to solve especially when your income is not enough than the payment of your debt monthly. For me, in handling this kind of problem is to talk or having a deal of your lender that you should extend the month of payment so that you can still have money for your family needs.

If you are owning debts and you want to pay them, here are steps you need to follow–– first of all you need to know who you are owing and how much you’re owing them. The next thing you have to do is pay your debts on time every month.

Like they say, if you don’t use your money wisely you will just end up spending them on unnecessary things. So always make sure you pay your debts before all those unnecessary needs arise.

The simplest way is to spend more time creating more income. I think you have to restructure your time, restructure the way you spend. If your debt is too large and you have to pay interest then I suggest you declare bankruptcy

I think you join this market and I know you know about crytocurrency investing. In my opinion, with your monthly income, you will not be able to pay off your debt in the shortest time.

So you only need to spend a small amount of money every month to invest, I believe that by the end of the year you will receive a large amount of money.

Actually you are going on a wrong way. This isn’t the way to go better with bitcoin. Things are that much better in this path. You may be getting big losses when you take some loan from someone and make your living. And even this loan taking is just for buying bitcoin, this is a stupid decision. Don’t take this, rate join some signature campaign and that will help you to gather some money.

It’s not easy to cope with this problem. If I were in a big debt, I think the first thing I’d do is keeping my head. Because if I don’t keep calm, probably I can’t give any method for solving my problem instead of getting scared to death.. Next, I will plan to borrow my relatives or some friends amount of money for paying debt. In addition, make a list of job which help me to earn significant benefit. Especially I will choose an extra job which can be full my free time. When I get money, I will pay for the one I’ve borrowed. The most important is doing all of my effort in order to not give up so that I can soon pay all my debt.. 

For me debt is pain therefore I always avoid debt as much as possible, because I know debt is an easy thing, but paying off is a very difficult thing.
"how to solve it?" the first thing you have to do is realize that you have a lot of debt
then start trying to fix your financial problems, maybe by looking for a better job or side job
and start saving to pay off your debts

Most people have a lot of debt because of poor lifestyle, I think debt is an obligation that must be resolved even if we have to have payments in small amounts, because trust is more valuable than the cash value. adjust our lifestyle with our financial capabilities so that not too much spending.

I think you shoul;d always montor your ssalary, avoid buying things that are not so much needed, learn how to budget. Even though it seems like it was impossible to pay all of your debt, it will be possible in the next weeks or month of budgeting. Just don't be so stressful about this stuff because you are just making the situation even worse.

when you have a lot of debt it is better you parse the debt which is a lot and the debt which little after that you try to find a job and you try to pay little by little huitang you have, never run from debt and if can live not too lots of debt. ;D ;D

Find a job and when you already have a job just know how to budget your money, and if you think that your money is not enough then avoid buying those things that you really don't need, focus in your every-day needs and try to save some of your money.

I will work extra shifts to pay for my debt. I need to prioritize which one I should pay first rather than paying them all at once every pay day. Once I have finished with one debt, I could easily shift to which one debt I should pay first. If working extra shifts won’t help, I could work on holidays for extra pay or I could try online jobs during weekends? Or my free time.

I think what we can do in situations like this is to coordinate and talk to your lender, if you have so many  debts, I think it is best to consolidate it so it will be just one lender or bank that you are dealing with. from there, lay down all your cards, tell them your situation, file bankrupcy if you can, asked for payment restructure where in you can still settle your debt even if it is longer than expected. You can also do some sidelines, sell baked goods, online jobs and others to add to your income.

Accept the fact the you are getting BROKE and be honest to those companies that you can't afford to settle them all at once, make promissory note and arrangements. they have the right to know your status so that they will not sue you. if they see how honest and genuine you are and trust that you will run from your responsibilities they will understand.

It is really difficult to handle too much debt because this is not just simple problem that to be address lightly. Lifestyle is one of the main reason why an indvidual will going to fall too much debt so i suggest that to solve a problem financially you have to check your lifestyle and change some of your ways where you will going adhere.

Oh, men! Debts can be so mind-boggling. If you disagree, wait till you see someone who committed suicide because of too much debt. So, something so troubling might not have just a very simple solution. I think the first step is to take responsibility. You must come to terms with the fact of the situation you are in. Then take a firm stand that things need to change. The lifestyle and expenditure that got you into debt cannot get you out of it. So, CUT your expenditure sharply. From there, create a remuneration plan. Discuss with the companies and or individuals you owe on how to pay in installments. And while you're at this, make sure not to borrow a dime or else the whole vicious cycle continues.

As for me when i had debt and i did not pay it at the same time i would choose to say that i would make a  deal that leads to peace. I would create a peace talk. And i will it in stalment as to assure i will also make a power of attorney that detailed to arrest me if i cannot pay it in the day that i promised to complete. So their is a strong foundation to make may devt pay.

That depends on the person where you have debt, if he is a good person then he might just forgive you so the best thing to do is just pay as early as you can.

I can work my way up to pay off my debts, but I can not escape, but that's just a hypothesis, and I've never owed a large amount of money, I just do and I do not dare go to the market with big waves.

I would pay my debts gradually. If I have more to spend for myself, then I will allot a lot more into paying the debts with the highest interest rate. Also to keep in mind not to borrow money or spend money on useless things while I am still paying my debts.

Well, I must say it's not that easy to handle but based from my experience. I list down my debts by amount highest to lowest, I prioritize those I owe less and bargain to those I owed the highest to give me some time to pay. Why I start from the bottom? Simply because I don't want to think of it from time to time and also to focus on those I owed more. By far from what I've experience it feel less pressure than doing the other way around.

How'd will I pay or do for it?
1. I do request to render an overtime at work given the situation I'm in, *well not all companies/employers do give overtime pays especially here in our country, so it's safe to ask for permission before anything else. This is also to secure that you are going to get paid.*
2. Do or accept freelance job, just to earn extra income to compensate everything.
3. Apply for a 1 or 2 more jobs for part time above my regular job.

Maximizing all the possibilities I could make to meet my commitments. But not to the point, doing such things such as;
1. Asking for a loan to pay my other loans (That doesn't make sense)
2. Rob or steal
3. Gambling

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Just a piece of advice once you commit to the person that you owed, never break it or make sure that you'll comply with it. Why? It build a good relationship towards the other, whenever you needed to loan again for emergency, the lender would or could make it easy for you to borrow money from him/her.

Some people are fond of taking loan from banks to pay up their debts, but that’s even the worst thing you can ever do as someone that is in debt. How can you be putting yourself in extra debts to pay up and old debts and then you will still remain in an ever increasing debt that will keep on having interest every month.

Banks are even the worst and you will regret taking a loan from them. The best thing you have to do is work hard and earn money to pay your debts, that’s the best thing.

to deal with this is at least we do not add debt, then if our income is not large enough to pay off debt we can prioritize things that we think the main first after that all fulfilled new you can use the remaining budget that you have to pay debts

Find additional work, use your free time to work so there is additional income to be able to repay your debt.

Try to pay your debt with a small amount first. Don't fully paid it in just one day coz you will suffer also and you might borrow some money again.

if I am a lot of debt, I do not want new debt anymore, to cover up my debt debt, I have to work harder and have to have the willingness to pay the debt to get rid of the burden of life. ;D ;D

If you are having a debt, that means you are really having a problem to solve. The level of control of the problem depends on whether your debt is a projected debt or a non-contingent liability. Whether the debt is anticipated or not, the first thing you need to do is to look at it as an issue that needs to be addressed seriously. So raise your hand, shout your name, confirm you have a challenge ahead, commit to overcoming this challenge and freeing you from the debt. Ask yourself, 'Why am I in debt?', 'What was my money spent on?', 'How much money do I make each month?', 'My debt has gone up. Or do I have problems paying off too much interest? ',' Are my expenditures leading to debts or expenses for family members? '. Do not worry about finding a solution - first review your problem thoroughly and determine the scope of the problem. Then write down your expenditures, spend an item in your notebook, or on a spreadsheet to evaluate all your expenses over the past 6 months. Print your credit card statements, bank statements and put those bills in your wallet, car and sports bag. You must have an accurate picture of what you have spent, and if you have a debt, you do not seem to have a picture of what you want. Be ready to make a big change. Are rents or travel expenses taking up all of your expenses? You may have to relocate to reduce your living expenses. You may have to move to a smaller place. Or you have to put aside your hobbies aside. You have to do what you can to help you break through your debts.

true because in the way it works, the debt that wants to be big can be paid in installments little by little from the results of our work

What's more, what's you occupations? On the off chance that your employments insufficient to pay your obligation it will bravo to land out from your position, and searching for an occupations like taxi driving or the other who give you a cash rely upon yourself. Since on the off chance that you land installment from your position like you work in an organization your installment was resolved, extraordinary in the event that you searching for cash with your own self you will buckle down for getting cash.

When you have too much debt and you income can no longer cover for your repayment, you may need to notify your lender of this development and give them evidence to back up your claim. In this case, your lender can choose to restructure your repayment in a way that your income can accommodate it. On your own part, you may need to cut some expenses.

everyone even countries in all countries have debt, but the difference is that developed or rich countries are good at managing their financial systems by dividing into different parts of each
very different from poor or developing countries

The things that I do when I'm in debt are outlines The amount of money I save, I've made clear to myself how much money I would save each month. I will try to raise my monthly savings as much as possible and cut down the costs that I usually spend to the minimum. This is important as it is also a great way to get rid of your debt quickly. Focus on the highest interest rate debt
Make the most of your debt to the highest interest rate on your debt tracking list. Since interest rates are high, the amount of interest you pay on a monthly basis also increases. It is the cause of your debt grows bigger. So concentrate on it before it makes you exhausted and increase your income. Although you may have a stable job, however, to pay off your debts in the shortest amount of time, You can increase your income by working overtime or finding extra work overtime. Finding a part-time job depends on what you want. But this is one way you can think about it. And the last thing that matters most, is Patience. Please keep track of your debt list regularly. You should not be anxious to get rid of debt, which will make you discouraged if you see after a certain period that the debt is not reduced to how much. However, your patience and continued focus on debt, soon you will see that debt has disappeared. Also, remember that after the highest interest rate debt is paid off, switch to the second highest-rated debt. As such, you will soon get out of debt with debt.

I think there coukd be a court proceeding where you can opt to lower your payment plan. But after this proceeding and you fail to pay, you can be liable to be imprisoned and punished for missed payments. In an ideal world, you should up and sell stuff and live with the barest of basics to survive and work until you can pay off your debt.

I think one thing is for sure that we need to have a source of money or income to pay with your dad. Lowering the payment plan and prolonging your payment is not a bad idea if you really cannot do it but if you could do it faster I think that is much more viable. I agree that you could sell your belongings for money especially the things that you don’t need. A lot of people have already said their thoughts here,I hope it could be done and be looked with positivity.

I will face all this burden of life patiently and always try my best.
how to handle it..?
hehe ... funny question ... I think to overcome every debt is to always try to work hard, don't laze around. You are already in this forum, meaning you are familiar with cryptocurrency. a lot of work can be done here to earn income. keep learning to lead a better life and don't be lazy to learn. with you working hard and trying, I'm sure you will be free from all the burdens of your life, including your debt.

What is certain is that the first thing you have to do is to intend in your heart really really to pay off the debt, because without intention in a strong heart you will never be able to solve it, the next step:
1. stop borrowing or enlarge debt, do not close the hole by digging a new hole because it will leave a large hole in the sense that your debt will be increasingly swollen
2 control of expenses, do not exceed your income, and prioritize with a percentage of, for example, 25% of income to repay your debt
3. ask for an extension if you can still negotiate, even though there will be many requirements but you must be able to convince the person who gave you the debt, and you must be consistent with the agreement you made (if any)
4. If you still have assets such as gold or property you sell to cover your debt
The key is to keep returning to yourself, consistent with your intention to resolve your debt. I am sure you will find your own way that is definitely best for you.

If I don't have enough income to pay my debt in installments, I'll pay some eagerly or ask for help from loved ones. Then keep trying to earn enough money to pay off all the debts.

if you have a lot of debt then you should be able to find a job as much as possible to be able to pay off the debt that you have, don't let you not pay the debt, you have to find a job that can provide a fixed salary for you. as much as possible to not be too wasteful and too use your money for things that are not important as long as your debt has not been paid off.

Cut down on your daily expenses. Spend less on things you don't need...  Too much Greed very bad for you. It encourages  irrational behavior. Makes you compromise your standards...
Try these:



* Spend below you earnings.
 If you earn a $1000 monthly, it'd be rewarding to spend less than 40% of the earnings monthly and save the rest.

* Eat cheap but healthy meals. Fruit and vegs are usually cheaper than junk foods.

* Withdraw from school especially the expensive ones...they aren't necessarily better. Home school yourself or kids (online education possibly) until you pay off most of your debts.

* Buy quality fairly-used products
* Buy cheap alternative of the expensive things you are used to.
* Stay indoors to avoid spending temptations.

* Use public transport if that helps

* Invest in profitable businesses.

* Don't buy car or home yet until your debt are cleared.

* Rent cheap apartment in fairly decent neighborhood.

Finally...
✴ Save more. Spend less.
There is no shame freeing yourself from overspending and debt slavery.

the best way i think that sell what i was debt , and reduce my dept into to what i can pay , debt is not good for your wealthy better buy it cash

But I'm thinking that why do we need more work when we are in debt while we're normal, we do not do it, what I'm saying, it means we should stop debt before it arrives by working harder and making some money for such emergencies. It seems to be more reasonable, instead of trying to deal with the consequences, we should handle the consequences sooner than expected, that will help us not passive in all matters and not much pressure, with this idea, people will no longer stick to too much debt

of course I will do other work that can meet the debt payments I have. because there is no way of cloth that is better than that method. by doing other work that can increase your income. you will be able to pay your debt

Last year I faced such problem. I borrowed like 6 k usd for stock trading from my friend. At that time I earned like 1k usd each month and I was depressive after I lost this amount on a such instrument like call options. We were about to brake friends relations and he pressed me , it was hard time, I couldn't save enough money and even lost major part of my salary on gambling like sports bets.  Eventually I've tried bounties and earned whole amount just in a couple of months thanks to strong up trend and my patience and bit of luck

I'm trying to understand this, as it seems to be pointless or simply shit.
"Best way, to sell your debt" - How on earth would you do that? Let's say you owe someone $100, you mean to say you will sell the $100 you owe, to reduce your debt into what can you pay? How is that even possible?

Having a much debt is such a big problem that will make you sick specially if you dont have enough  money to pay it.  In my opinion you can pay your debt little by little or do other extra income just to lessen your debt. And also must better if you lessen your expenses, dont spend too much  unless save it. Lastly stop borrowing if you know that you cannot have the guts to pay it in time.

This is one of the main problem of people today. People are likely to borrow some money and it hards to pay for it. To deal with it you need to faced it, running to your debts makes it worst. Well, if you want to solve it stop borrow money to pay your debts because it will never solved it. Some alternative ways to do it is to try to think an extra income or business to lessen your debt.

This is one thing I usually try to avoid too. I hate it when I owe people because it makes me uncomfortable till I pay off that debt. Even if I don't have the money to pay, I always ensure I keep communication pending when I am able to pay off that debt. But it is best to avoid borrowing if you can. It makes you more at peace with yourself.

I think a heart to heart talk with the lender/s for a much awaited compromise. Remember that you are in no position to demand anything. Be trustworthy enough to face all the consequences for your action. The next best thing to do is to find a sure way to earn to finally settle your obligations. An extra job or jobs [if you can manage] will be highly recommended. And finally, stop borrowing if you don't have a sure means to settle it. Live simple.

Currently I am confronted with it, the project did not pay me on time and I need to find a solution. I think we should have an extra work out and our pay is assured every month. It is the best way to pay off your debt and not affect your credit rating.

The first thing to do is cutting unnessary spending. We should make record our spending and just make a necessary spending. Beside that, we should asking about rescheduling our debt and dicipline with our payment

For me the best thing is find an other job or a side job. I think side jobs can help you to solve your problems. What about working with cryptocurrencies ?.

There is always room for expansion when it comes to income earning. Diversify and increase your scope of income in order to settle your debt. Increase your working hours. 

I will make different strategies, I will save money and do part time job if my salary is not enough or i will sell my assets to pay all installments.

I think there are two options:

1. Find a better source of income. Do not try to find it in one day or in one week. It can take a year or two, but if you dedicate yourself to it completely it is very likely that within that period of time you will succeed.

2. Only if it is urgent. I mean if repaying a big part of your debt is urgent, sell everything you can, move to a cheaper flat, stop going to cafes and restaurants and start cooking yourself, stop playing video games wasting your time on them but work during that time instead. The biggest joy for you to pursue should be repaying your debt.

First of all, banks shouldn't have given you that loan if they saw that your income is roughly not enough to pay the interest and the principal. The procedure of taking a loan is rather complicated in most countries - one has to provide the evidence that he is able of earning that very amount of money which would be sufficient for paying debts. If there is any kind of a force majeure you may try to refinance the debt based on your current financial situation.

Increase the income I guess. By changing job or even picking an additional one. There's really no much room for choosing in such situation.

The important thing is paying our debt. If our income not enough to pay debt, better cutting our unnessary need is a must. Selling our goods that we dont need anymore for paying our debt is one of many option for paying that debt.

Investing with bitcoin can helps you to solve many problems since it can be consider as a side jobs. Many peoples like students use bitcoin to complete their requirements. I my self use bitcoin as a side job and complete all my expenses.

cryptocurrency market could give us additional income by working on any bounty campaign if we didnt have any money to start trading.and much of them getting their success by joining on it.

If it was me, I had to change my job and decide to invest and something to make a profit. Because it will increase your ability to repay, for example investing in securities, real estate or crypto, for example. But remember, this investment is very risky, one is that you pay the debt, the second is that you make more debt

This is an unfortunate situation and i think it is a question of the monthly expenses. You have to limit the comfort so you can put more money away to pay your debt.

I would just spend my money wisely don't over spend it on anything that you don't really need,
Pay your debt little by little I am sure that you could do that it would take some time but at least you paid your debt,
You just need to handle your money wisely.

Bankruptcy is a very good option is the debt becomes overwhelming.  We all make financial mistakes, even Donald trump had to declare bankruptcy of some of his business operations.

I would never recommend going into debt in the first place unless you have a rock solid business plan.  Taking out loans to buy fancy cars or boats is just irresponsible.