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10 Tips To Avoid Bankruptcy

10

Evaluate Your Budget

When evaluating your budget, you will analyze your expenses and your earnings.

9

Slash Your Expenses

Once you have made a budget, the next step to keep from going bankrupt is to spend less.

8

Sell Things You Don’t Need

Selling your old belongings will help you increase your bank account balance.

7

Do not use credit cards

Adding extra debt to your burden will only make repayment more difficult.

6

Get Another Stream Of Income

This allows you to make additional income while working at a job you enjoy and that offers flexibility.

5

Look Into Debt Consolidation

Debt consolidation can reduce monthly payments and interest rates.

4

Consider Debt Negotiation

Sometimes you can negotiate debt reduction before bankruptcy. This method can help you escape bankruptcy.

3

Consider Applying for Government Assistance Programs

Try enrolling in government assistance programs. Apply for food stamps or housing assistance.

2

Consult a financial consultant

A financial coach helps you achieve your goals. They'll provide you with advice and techniques to pay off debt and avoid bankruptcy.

1

Inventory Your Debt

Evaluate loans with the highest balances and interest rates.

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