Finance tips: how to manage your debt and credit

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People often have problem with credit card and most often debts. The economy is hitting us hard and we’re relying on credit cards and we can’t pay our bills.

If you have already file for bankruptcy then you don’t need to worry about anything but just wait until 7 years is up in order to start over again. If you’re so much in debt like several hundred thousands dollars, just file for bankruptcy and don’t look back. The interest will add up.

If your debt is manageable then pay them because good credit will help you out with everything else in life. Having bad credit will put you behind. you can’t get a loan, a car loan, a home loan. You can’t do anything with a bad credit history.

Borrow from family and friends and pay off your bills. Try to save your credit if you can. Even get a loan to pay it off. Talk to the company and get some cuts out of your payment. You can do this. Most of the time they will cut your payment according to your capability.

Don’t use so much credit if you’re unable to pay it back later.Spend cash. Ask your family and friends to open a second account for you so that you can have some help.

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