Strategies for Getting Out of Debt Without Money

[Kane]

What would you do if you have outstanding loan but no money to repay your debt? Well, if you lack funds to pay off debt, some of the repayment options include working harder to increase income, cutting expenses to have extra money for loan repayment, selling assets, or securing a new low-interest loan to replace high-interest debt. Working more, spending less, and saving diligently are key elements of a successful debt repayment strategy.

 

[deucher]

The main problem with debt is that most of them have a debt from the bank and so on, it is very bad because they want payment on time and if you do not find the money you will have big problems at that time if you are in debt to friends or relatives then it is very easy to ask for a few months of patience and assure that you will definitely work to return the funds