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

[babarian]

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?

of course I will do other work that can meet the debt payments I have. because there is no way of cloth that is better than that method. by doing other work that can increase your income. you will be able to pay your debt

[aalborg]

Last year I faced such problem. I borrowed like 6 k usd for stock trading from my friend. At that time I earned like 1k usd each month and I was depressive after I lost this amount on a such instrument like call options. We were about to brake friends relations and he pressed me , it was hard time, I couldn't save enough money and even lost major part of my salary on gambling like sports bets.  Eventually I've tried bounties and earned whole amount just in a couple of months thanks to strong up trend and my patience and bit of luck

[markdario112616]

the best way i think that sell what i was debt , and reduce my dept into to what i can pay , debt is not good for your wealthy better buy it cash

I'm trying to understand this, as it seems to be pointless or simply shit.
"Best way, to sell your debt" - How on earth would you do that? Let's say you owe someone $100, you mean to say you will sell the $100 you owe, to reduce your debt into what can you pay? How is that even possible?

[Lorin]

Having a much debt is such a big problem that will make you sick specially if you dont have enough  money to pay it.  In my opinion you can pay your debt little by little or do other extra income just to lessen your debt. And also must better if you lessen your expenses, dont spend too much  unless save it. Lastly stop borrowing if you know that you cannot have the guts to pay it in time.

[basyang]

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 is one of the main problem of people today. People are likely to borrow some money and it hards to pay for it. To deal with it you need to faced it, running to your debts makes it worst. Well, if you want to solve it stop borrow money to pay your debts because it will never solved it. Some alternative ways to do it is to try to think an extra income or business to lessen your debt.

[Akpuv]

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 is one thing I usually try to avoid too. I hate it when I owe people because it makes me uncomfortable till I pay off that debt. Even if I don't have the money to pay, I always ensure I keep communication pending when I am able to pay off that debt. But it is best to avoid borrowing if you can. It makes you more at peace with yourself.

[Skyshark]

I think a heart to heart talk with the lender/s for a much awaited compromise. Remember that you are in no position to demand anything. Be trustworthy enough to face all the consequences for your action. The next best thing to do is to find a sure way to earn to finally settle your obligations. An extra job or jobs [if you can manage] will be highly recommended. And finally, stop borrowing if you don't have a sure means to settle it. Live simple.

[ichai]

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?

Currently I am confronted with it, the project did not pay me on time and I need to find a solution. I think we should have an extra work out and our pay is assured every month. It is the best way to pay off your debt and not affect your credit rating.

[efxtrader]

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?

The first thing to do is cutting unnessary spending. We should make record our spending and just make a necessary spending. Beside that, we should asking about rescheduling our debt and dicipline with our payment

[jjohnathn]

Cut down on your daily expenses. Spend less on things you don't need...  Too much Greed very bad for you. It encourages  irrational behavior. Makes you compromise your standards...
Try these:



* Spend below you earnings.
 If you earn a $1000 monthly, it'd be rewarding to spend less than 40% of the earnings monthly and save the rest.

* Eat cheap but healthy meals. Fruit and vegs are usually cheaper than junk foods.

* Withdraw from school especially the expensive ones...they aren't necessarily better. Home school yourself or kids (online education possibly) until you pay off most of your debts.

* Buy quality fairly-used products
* Buy cheap alternative of the expensive things you are used to.
* Stay indoors to avoid spending temptations.

* Use public transport if that helps

* Invest in profitable businesses.

* Don't buy car or home yet until your debt are cleared.

* Rent cheap apartment in fairly decent neighborhood.

Finally...
✴ Save more. Spend less.
There is no shame freeing yourself from overspending and debt slavery.

For me the best thing is find an other job or a side job. I think side jobs can help you to solve your problems. What about working with cryptocurrencies ?.

[realcrypto]

There is always room for expansion when it comes to income earning. Diversify and increase your scope of income in order to settle your debt. Increase your working hours. 

[waqasniaz007]

I will make different strategies, I will save money and do part time job if my salary is not enough or i will sell my assets to pay all installments.

[Betwrong]

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 there are two options:

1. Find a better source of income. Do not try to find it in one day or in one week. It can take a year or two, but if you dedicate yourself to it completely it is very likely that within that period of time you will succeed.

2. Only if it is urgent. I mean if repaying a big part of your debt is urgent, sell everything you can, move to a cheaper flat, stop going to cafes and restaurants and start cooking yourself, stop playing video games wasting your time on them but work during that time instead. The biggest joy for you to pursue should be repaying your debt.

[muddy waters]

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?

First of all, banks shouldn't have given you that loan if they saw that your income is roughly not enough to pay the interest and the principal. The procedure of taking a loan is rather complicated in most countries - one has to provide the evidence that he is able of earning that very amount of money which would be sufficient for paying debts. If there is any kind of a force majeure you may try to refinance the debt based on your current financial situation.

[Violettochka]

Increase the income I guess. By changing job or even picking an additional one. There's really no much room for choosing in such situation.

[Burogh]

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?

The important thing is paying our debt. If our income not enough to pay debt, better cutting our unnessary need is a must. Selling our goods that we dont need anymore for paying our debt is one of many option for paying that debt.

[cintamoni]

Cut down on your daily expenses. Spend less on things you don't need...  Too much Greed very bad for you. It encourages  irrational behavior. Makes you compromise your standards...
Try these:



* Spend below you earnings.
 If you earn a $1000 monthly, it'd be rewarding to spend less than 40% of the earnings monthly and save the rest.

* Eat cheap but healthy meals. Fruit and vegs are usually cheaper than junk foods.

* Withdraw from school especially the expensive ones...they aren't necessarily better. Home school yourself or kids (online education possibly) until you pay off most of your debts.

* Buy quality fairly-used products
* Buy cheap alternative of the expensive things you are used to.
* Stay indoors to avoid spending temptations.

* Use public transport if that helps

* Invest in profitable businesses.

* Don't buy car or home yet until your debt are cleared.

* Rent cheap apartment in fairly decent neighborhood.

Finally...
✴ Save more. Spend less.
There is no shame freeing yourself from overspending and debt slavery.

Investing with bitcoin can helps you to solve many problems since it can be consider as a side jobs. Many peoples like students use bitcoin to complete their requirements. I my self use bitcoin as a side job and complete all my expenses.

[Adhichan]

Cut down on your daily expenses. Spend less on things you don't need...  Too much Greed very bad for you. It encourages  irrational behavior. Makes you compromise your standards...
Try these:



* Spend below you earnings.
 If you earn a $1000 monthly, it'd be rewarding to spend less than 40% of the earnings monthly and save the rest.

* Eat cheap but healthy meals. Fruit and vegs are usually cheaper than junk foods.

* Withdraw from school especially the expensive ones...they aren't necessarily better. Home school yourself or kids (online education possibly) until you pay off most of your debts.

* Buy quality fairly-used products
* Buy cheap alternative of the expensive things you are used to.
* Stay indoors to avoid spending temptations.

* Use public transport if that helps

* Invest in profitable businesses.

* Don't buy car or home yet until your debt are cleared.

* Rent cheap apartment in fairly decent neighborhood.

Finally...
✴ Save more. Spend less.
There is no shame freeing yourself from overspending and debt slavery.

Investing with bitcoin can helps you to solve many problems since it can be consider as a side jobs. Many peoples like students use bitcoin to complete their requirements. I my self use bitcoin as a side job and complete all my expenses.

cryptocurrency market could give us additional income by working on any bounty campaign if we didnt have any money to start trading.and much of them getting their success by joining on it.

[ChandraGold]

If it was me, I had to change my job and decide to invest and something to make a profit. Because it will increase your ability to repay, for example investing in securities, real estate or crypto, for example. But remember, this investment is very risky, one is that you pay the debt, the second is that you make more debt

[usorin]

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 is an unfortunate situation and i think it is a question of the monthly expenses. You have to limit the comfort so you can put more money away to pay your debt.