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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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