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

[hualangktsld841]

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.

[elpiji]

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.

[bering]

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

[orions.belt19]

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.

[zenrol28]

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?

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.

[Kelvinid]

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?

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.

[batang_bitcoin]

what would you do if you had so much debt and that your income was not enough to repay your debt installment?

You need to budget your income. If it wasn't enough then look for additional source of income.

how will you deal with it?

I will encourage myself that I can't move on until I paid the whole debt.

how to solve it?

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.

[darrly]

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.

[omonuyak]

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.

[buternasek]

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

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.

[LodisMcguire]

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.

[Harrow30]

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.

[Bellator]

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?

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.

[livingfree]

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

How 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.

[rayk]

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.

[HereNow]

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

[7788bitcoin]

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 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.

[Quidat]

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 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.

[romecheo]

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.

[Shenzou]

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?

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.