how do you handle debts, or loans

India
June 14, 2007 11:46am CST
when u get a loan or debt to pay back bills sometime we get stuck in another loan. how to get out of it. how to effectively pay back loans, without the extra pinch in our financial positions.
2 people like this
6 responses
@darje1 (15)
• Croatia (Hrvatska)
14 Jun 07
With self control i think. I don't know if you can even live comfortably without knowing your debt repayment capacity as i would define it.
• India
14 Jun 07
i know many people just going for a loan knowing very well they cant pay back, they dont think about the future all tht matters is today if they have money then fine
1 person likes this
@deebomb (15323)
• United States
14 Jun 07
The very best thing is not take out a second loan until the first loan is paid off. Better yet don't take out any loans unless it's for an emergancy. We should save for the things we want. But also it is hard to save for such thngs as a house or a car because they are both so expencive. But if you get in a pinch and do take out more loans than you can handle then you should talk to the people you have these loans with and make arragements to make smaller payments and then to pay them off as soon as possible even going with out new clothes and such things that are wants a not really needs.
• India
14 Jun 07
yes true but sometime i feel expenses just pour in even the most urgent things like repairs. in tht situation it is hard to not take loans.
1 person likes this
@deebomb (15323)
• United States
14 Jun 07
This is the idea situation but I know what you mean. When I was raising my kids I would get a couple of dollars put back and they would have an emergancy and it was never just one it always had to be at least 3 of the 4 kids. Then the car need something. And I would have to charge medicine or car repairs. Something kept saying hey She getting a coulpe of Dollars it's time to get her if you know what I mean.
@wonderful1 (2076)
• China
15 Jun 07
I borrow some money from my friend several months ago, but now I can't return her, I quit my job, and I can't earn enough money online. My friend never ask money for me, but I feel uncomfortable. I told her I will return her in a month. I know she doesn't need money currently, but ... I hope I can make enough money online. How much money do you earn online per month? Do you have a job now?
• India
15 Jun 07
i do content writing for web sites, they pay me $2 per file, thts too low but still i earn a decent income. pls see what skills u have then look for jobs related to tht
@asmurthy (2464)
• India
14 Jun 07
Debt is something that you should never put off dealing with. The longer you try and try to ignore it the larger and more destructive it will become. Face your debt and get rid of it once and for all. Use your savings to get rid of debts. Or seek money from your family or friends. . This is never an attractive alternative as money can cause all sorts of problems for any relationship.
• India
15 Jun 07
the compounded interest will completely wipe out ur finances. and leave u bankrupt at times, so beware
• United States
14 Jun 07
Dont purchase anything you cannot afford to pay back.
• India
15 Jun 07
yes thts true but we are always tempted. i sometimes leave my purse at home to escape this
@Calais (10900)
• Australia
14 Jun 07
Try and pay back as much as you can in th least amount of time.
• India
14 Jun 07
if only we had the amy to repay them in time it would be wonderful