how to avoid being a bankcrupt?

Answer 1

Many people file bankruptsy each year. Some find it a way to clean out their closets and start over, some find that suddenly they lost their job and can afford everything they have bought on credit. The laws are changing, making it more difficult to file, so to avoid it is best right now.

If you have more than one credit card you need to combine them all into one low rate monthly payment.... Many cards offer this at a very low intrest rate...... then cut up the remaining cards.

You need to figure out how much income you have each month... and work out a budget plan that inables you to put money away each month.....You may have to cut out a few things.. if you have a land line and a cell... get rid of the land line. Cut back on intertainment, power usage, dont buy things unless you really need them.. etc etc etc... (usually easier said than done because we are a society that spends a lot of money)

Get a less expensive car, and an ecomomical one, and/or walk or ride bike or bus when you can.

Look into cheaper housing or sharing rent for awhile. Get side jobs, sell some things that you dont really need or use. Get Humble. Eat more meals at home, make yourself a lunch... all of things add up. If you smoke, cut back or quit. Same if you drink... every penny saved is a penny earned.

Although filing bankruptcy isn't the end of the world, it is a huge hassle and could cost you court fees and even attorney fees. Hope you understand what got you into this position and I wish you the best of luck getting out.

Answer 2

Credit Counseling

Answer 3

Never buy on credit unless you can pay the entire amount when the bill comes. The only exception is a car or house.