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Ceejay76
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Asked: 2023-08-08T10:47:55+00:00 In:

What to do when you're fed up with Dept?

I have been on this loan for so long. And my Dept keep increasing everyday.

Sometimes my Dept will be due but I don’t have money to repay.I don’t want it  to be so any more.

What should I do to get out of this Dept.

Is there any action I should take to stop being in Dept?

 

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8 Answers

  1. spencer
    Enlightened Mentor

    When you get tired of debt you start devising ways you can get out of it, it is hard though because a lot of times most Loan companies keeps on adding interest on top of the debt you defaulted on and it'll keep on accumulating making it hard to pay back. Find a way to start paying slowly till you paRead more

    When you get tired of debt you start devising ways you can get out of it, it is hard though because a lot of times most Loan companies keeps on adding interest on top of the debt you defaulted on and it’ll keep on accumulating making it hard to pay back.

    Find a way to start paying slowly till you pay it back and then never take a loan again, increase your income or cut down your expenses.

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  3. Mika
    Expert Mind

    First of all, it is debt, and not dept as you have written in your question and description. Secondly, try to analyze why you are unable top pay off your debt or why your debt continues to rise? Most of the time, the inability to pay off debt and rising debt both are the results of high expenses. PeRead more

    First of all, it is debt, and not dept as you have written in your question and description. Secondly, try to analyze why you are unable top pay off your debt or why your debt continues to rise? Most of the time, the inability to pay off debt and rising debt both are the results of high expenses. People continue to spend money on nonesense things and they are unable to pay off debt. Sometimes not being able to pay off debt is also a result of low income, you should work hard to make additional income.

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  4. Carpon
    Expert Mind Hustler

    I think it is a good thing that you are fed up with debt because sometimes you never really know that there is a way out of something unless you find  yourself in a fix and finally reach your dead end. I believe that is what will push you to think, use your brain and understand ways that you can solRead more

    I think it is a good thing that you are fed up with debt because sometimes you never really know that there is a way out of something unless you find  yourself in a fix and finally reach your dead end. I believe that is what will push you to think, use your brain and understand ways that you can solve your problem

    You must work towards making more money and earning much because that is your only way out. You also need to be wiser in managing your money

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  6. Allison
    Knowledge Seeker Archiever 💪🏽🔥

    I really understand how you are feeling, being into debts is one of the things that draw our financial status backward or standby. When you're fed up with debts, it's important to take proactive steps: First, you must create your own budget. How do you do this? Make a detailed budget to track your iRead more

    I really understand how you are feeling, being into debts is one of the things that draw our financial status backward or standby. When you’re fed up with debts, it’s important to take proactive steps:

    First, you must create your own budget. How do you do this? Make a detailed budget to track your income and expenses, helping you prioritize debt payments.

    Secondly, you have to cut off unnecessary spending by identifying areas where you can reduce spending and redirect those funds towards debt repayment.

    Thirdly, avoid taking loans to settle debts, you will still be into debts.

    Finally, try and double your income, browse online and look for the right source to make passive income.

    I hope this answer helps.

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  7. Abigael
    Best Answer
    Trusted Adviser Abigael

    The only way to get out of debt is to work hard to pay it back. This means you should have a source of income. If you don't, you had better start looking for one. Paying off debts requires that you manage the money you earn really well. You will have to prioritize paying those debts as well as satisRead more

    The only way to get out of debt is to work hard to pay it back. This means you should have a source of income. If you don’t, you had better start looking for one.

    Paying off debts requires that you manage the money you earn really well. You will have to prioritize paying those debts as well as satisfying your needs. Though you may have to cut back on expenses so that you can afford to pay the debts.

    Increasing your income is another great option for paying off debts faster. You will be required to take a second job or look for a part time side hustle.

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  9. Suba
    Knowledge Seeker

    Of course, the first thing you have to do is stop taking loans, even if you aim to pay off old debts that are past due. Keep track of all your debts and check which ones are due in the near future. Sell goods that you own such as motorbikes, televisions etc. to pay off debts that are due, look for aRead more

    Of course, the first thing you have to do is stop taking loans, even if you aim to pay off old debts that are past due. Keep track of all your debts and check which ones are due in the near future.
    Sell goods that you own such as motorbikes, televisions etc. to pay off debts that are due, look for a side job to pay off debts such as being a driver, or delivering goods.
    Because the debt still has to be paid, make an agreement with the lender to give a longer term. Live sparingly and be disciplined, so you will quickly be free from loans.

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  10. Ramolak19
    Knowledge Seeker

    Anyway what I think is that there is no shortcut when it comes to repayment of the loan, it might be difficult to continue with the payment but it’s good to finish up according to terms and conditions of most companies. The only strategy with that is you can sell small property or belonging while yoRead more

    Anyway what I think is that there is no shortcut when it comes to repayment of the loan, it might be difficult to continue with the payment but it’s good to finish up according to terms and conditions of most companies. The only strategy with that is you can sell small property or belonging while you set out your loan balance from from that money in other to end up with instalment I think you can try this system

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  12. Mhizta Yan
    Active Contributor

    Okay from your point I can understand that you want to get rid of it. The first thing u can advice you to do is to make a plan whick is to repay the dept. Making plans include how you are goi6to pay the dept, and also you need to work on your self. Don't buy what you don't really need so as to save.Read more

    Okay from your point I can understand that you want to get rid of it.

    The first thing u can advice you to do is to make a plan whick is to repay the dept. Making plans include how you are goi6to pay the dept, and also you need to work on your self. Don’t buy what you don’t really need so as to save.

    The most important one is that you should try to be contented ith what you have. If you consider this view point it help to out of dept.

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