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

[squog]

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.

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[tranquangvinh]

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 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 .

[Sidilatte07]

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.

[rickadone]

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.

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.

[Whosdaddy]

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

you're just lucky because living at the country who does not too care about paying debt but you can't just ignore this problem if you live in other country because you should repay your debt and if you don't do that then you will got in jail and this is not good for you and your family however this is first time to heard for me that people can't in jail if they do not able to repay their debt and actually at what country where you're life currently

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.

[3acaga]

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...

[Fatimah Azzahra]

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.

[Siren]

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?

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

[Dansamiv]

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

If you 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:)

[bengsabeng]

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  

[Averim]

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 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.

[cryptolandlords]

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

[Hell-raiser]

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

you're just lucky because living at the country who does not too care about paying debt but you can't just ignore this problem if you live in other country because you should repay your debt and if you don't do that then you will got in jail and this is not good for you and your family however this is first time to heard for me that people can't in jail if they do not able to repay their debt and actually at what country where you're life currently

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 ?

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.

[malbano2099]

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.

[setialovers]

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

If 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

[lzby2000]

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.

[paul gatt]

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.

[Rubble898zaitO]

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.

[paul gatt]

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 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.

[Tagabukid69]

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

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