Reduce Debt | Life Better

Reduce Debt

Debt priority
You should know what your debt burden over the years. Write down all the debts and sort nominal debt charges from the largest to the smallest. Also include interest rates, respectively. Next, there are three methods that can be selected . Prioritize to pay a small debt. Medium to large debts can be paid a minimum, Prioritize to pay the debt with maturity more quickly, Prioritize to pay debt interest rates highest

Debt chain
Unless you absolutely have to, you just can not do this. But try as much as possible so you do not pay the debt resulting from debt. Because it will form a chain of endless which will surely make you more dizzy. Also, in the choice of the debtor if it really had to borrow money to pay the debt, you should select a debt to a friend or relative. Just if you can not, have you had to bank loans or use credit cards. When would owe even this you should have an idea of ​​how the future scenario of the debt be repaid all.

Debt Payment Schedule
If possible, you may want to ask creditors to reschedule its debt payments. It could at least make you breathe a little. But do not then lazed. If rescheduling your debt, you should immediately seek ways for payment tersbeut can later be returned to normal.

Increase Revenue
Only focused on how to pay the debt, without trying to increase revenue is the same no meaning. Therefore, you should try to increase your income. Perhaps trying to start a side business or looking for additional job and others. Importantly, your income can increase to the debt burden can be reduced.

Selling Property
If at some point, there was no way that might be, had you have to sell your assets. This should be a last resort if there is no source of funds can be expected to cover the payment of your debts and the debts can not be postponed again.