Financial Management EXpert Come In

[hanad_mn]

I am in a very bad debt that I am finding it hard to come out of. How can someone come out of a huge debt with Limited Income?

Please advice

[Rabshoole]

I am in a very bad debt that I am finding it hard to come out of. How can someone come out of a huge debt with Limited Income?

Please advice

Set up a payment arrangement, with whoever your bankers are for starters, Just to let you know, it might take several years before you can pull yourself out of this one, it all depends on how far in debt you're in. By any chance is it student loans ?

[The_Patriot]

I am in a very bad debt that I am finding it hard to come out of. How can someone come out of a huge debt with Limited Income?

Please advice

Look for ways of consolidating your debts and paying them according to the agreed arrangements.

or Alternatively just declare yourself Bankrupt if the Loan is un managable.

[The_Patriot]

Hanad another alternative is to change your life style to bring a recovery.

You can bring in austerity measures.
Either move to an area where the living costs are affordable
Move to a shared accommodation or as well move in with your parents.
Use energy efficient utilities.
Cook at home rather than eating outside.
Stop buying clothes at impulse just stick to normal clothes rather than designer oriented clothes.



Shekadhu hadhey si socoto dheeh somali baadtahay oo Ilahey caqli kusiyey ee wadanka kaguur oo Europe mise Australia iska diib oo nolol cusub bila madax xanuun kabilaw.

Seen alot of Somalis do that

[HELWAA]

Follow Patriot advice and change ur life style..Make a plan and look over ur expenses.It's shocking how much mony we waste on malaayacni things.Make a budget and open a savings acount.

[ciyaal_warta]

waryaa mukulaal madow baa tahay sidee deyn lagugu yeeshay just tell him am moving 2 mogadishu come after me 2 get ur money

[hanad_mn]

thanks akhiyaarta. I appreciate your honest advice. I will put it in consideration.

[Shirib]

cut costs wherever u can. they add up pretty quickly.

If u eat out a lot make your food instead, stuff like that saves u loads in the long run

[union]

Declare bankruptcy.

[Nomand]

stop supporting al shabaab and your debts will clear

[zulaika]

i would highly advice against consolidating debts through banks...it will land you in deeper debt(as it was mostly designed for this purpose to reap maximum interest).... i never really understood paying down debt with another debt.. ridiculous

i once had 10k in student loan debt, they've arranged a monthly payment plan that will take years and years to pay down as most payment plans they concoct for you is devoured largely by interest rates and hardly makes a dent on the principle.. so i said to them if i were to come up with the total amount due, how long can you afford me to come up with this in terms of time... they said till the end of the month..

...so i called my local hegbad lady and asked her to sign me up and pleaded to make me the first beneficiary...luckily she agreed and by the beginning of the following month, i had 10k and paid down the total amount. and i started making my monthly payments to the hegbad lady..INTEREST FREE!!!!!