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

[icecube45]

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.

[ClackKendi]

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

[Hopeful2017]

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?

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.

[kauban2018]

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.

[Mateo123]

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?

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",.

[krishnaverma]

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.

[mel1978]

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 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.

[Btcschool]

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.

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.

[ratnawide]

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

[Bitexpert2017]

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.

[BillCoin]

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.

[minnerETN]

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?

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

[glowing10]

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.

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.

[hoanghoatham04]

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

[piterpie]

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

[Dudeperfect]

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.

[justdimin]

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.

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.

[Danlopz]

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.

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.

[dewi91]

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 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.

[btctestcolets]

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.