I have huge debts and I opened a business. Now I have even larger debts. I was left without my family and children and I have no more strength to live … what to do if the debts are unpayable?
I have huge debts
It doesn’t matter how much debt you have, how much or how much you and your family are dragged to the bottom. Contrary to appearances, money is a very important thing in the life of every family.
Debts often cause families that once lived together to break up. This is because many things start to break down suddenly, family members experience disappointment … it wasn’t supposed to be this way ??!
Regaining family and trust
Listen, I understand that it’s hard for you now, but what will the wringing of the hands do? nothing true? you have to start fighting the fate that met you. Certainly the first step you should take is to stop the expansion of the enemy! Do you read in disbelief? yes, stop the enemy, which are your deepening debts, debts that plunge you more and more, so do not take any more loans now, whatever they would be cheap.
Under no circumstances can you go into debt anymore! Just because you stop getting into debt and even start paying off your current installments will mean that you are slowly starting to dig your hole. It’s best to take all your credit cards out of your wallet and cut them with scissors, and then watch them burn … or just like a civilized man throw them into the bin.
Radicality saves you!
If you have a difficult financial situation, then only radical movements are able to get out of this swamp, believe me, I know what I am writing about. Very interesting and inspiring, the problem of debts was described by Iwona Wendel in the guide How to get out of debt I always advise you to start getting out of debt by paying off the most expensive loan, usually a payday loan with a high APRC!? Paying off such debt will allow you to reduce losses in your household budget and, in addition, will motivate you to pay off more debts.
Make yourself such a list, where you will have at your fingertips which loans are the most expensive, start getting out of debt with these loans! it will be easier and easier with each repaid loan! If your debts are really huge then consider consumer bankruptcy. Bankruptcy is the sale by the trustee of all your assets, from which sale the trustee will satisfy as much as he can the claims of your creditors. You can read more about consumer bankruptcy here: what is consumer bankruptcy.