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

[charlzyeby]

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 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.

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[no0dlepunk]

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 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.

[Falmera]

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 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.

[kyucryp]

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 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.

[maitexisi]

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?

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.

[J-N]

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.

[gambitcoin53]

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.

[gabmen]

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 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.

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

[CherRic]

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 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.

[hualangktsld841]

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.

[bololord]

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 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.   

[pencuri hati]

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.

[pasti kaya]

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.

[Nylesor]

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.

[BulbaLord]

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 .

[yatogami]

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?

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).

[trako]

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.

[spyerf]

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?

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.

[BartS]

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?

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.

[nabinkhadka]

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.