[ASK] How are you going to handle too much debt?

[usahaali03]

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?

[1713599453]

1713599453

[1713599453]

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[1713599453]

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[supine]

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.

[botany]

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?

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.

[capitulo]

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?

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.

[Ctn]

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?

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.

[Levin23]

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?

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

[EnricoGomez]

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.

[Hydrogen]

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."

[hahay]

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

Keep trying to earn enough to pay all your debts. There is no word of surrender to pay off the debt, you must continue to try as hard as you have, because the debt is supposed to be paid off. Honestly, after the existence of bitcoin, gradually I can pay off all my family debts little by little.

[moneyangel]

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

You must accept the reality that you have a debt that need to settle and make a double efforts to increase your monthly income by participating in various bounty that will give you good rewards. Also limit your daily expenses and cut those unnecessary purchases. Lastly, discipline yourself.

[Spain2000]

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.

[xuan87]

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

[samycoin]

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.

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.

[kuckong]

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.

[Funeral Wreaths]

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?

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.

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.

[kangbasir]

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

Start Finding a Monthly Income Alternative and also 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.

[maichimoto]

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?

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

[Chaaastity]

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.

[warrior333]

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

I have a question for you. Why did you take so much money in debt if you can't give it away? I never take loans at all. If you don't have the money to buy something, where do you get the money to repay that loan plus interest on the loan? Only stupid people can do that. Now you will give all your money to the Bank all your life.

[usorin]

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.