Debt Solutions – Explore Your Options

Although there are debt solutions, people do understand what is really a financial difficulty if it happens to them.  They experience absence of money, even homes, and most of the time with nothing left in their pocket. They even get constant information and notice about their bills. It’s good to have a creditor if all of these things happens to you, by doing that you can seek for temporary debt solutions to your problems. If none of this works, I suggest you seek a lawyer to be able to come up with a different plan before negotiating with your creditor.

Acknowledge the problem

In order to tackle your debts and improve your credit rating, you must acknowledge the problem and determine exactly how much you owe to your creditors. Check bills and statements to arrive at an accurate figure, and if any bills have been lost or mislaid, contact the relevant Customer Services Departments and ask for duplicates. Never throw away statements without even opening them – not knowing how much you owe will not make the debt disappear, and you will still be liable for payment. Once you know exactly how much you owe, you can begin to tackle your debt problem, and you will feel much better for having taken positive steps towards a resolution.

It is common for creditors to utilize a variety of technologies to make accessing your account information easier, which in turn enables you to better manage your monthly income and expenditure. Such technologies can include automated telephone systems and internet access to provide a variety of account information, such as payments made and received, balances etc.

Your Debt Solutions Options

Are you in trouble because of debts? There are options that you can explore if you have this kind of problem. One is to do nothing about it. They say that it is the most common thing that a person does, ignoring their debts. These kind of people are the ones who don’t have enough money and property to sell. If you are the person who don’t have a steady job or business, then perhaps this is your only option, for now.

If you find yourself unable to settle your debts, look around you and seize everything that you have. Assets like your house or your car could be the solution to your monetary problem. If you wait for foreclosure or repossession of your assets, you are just digging a deeper hole for yourself especially if you cannot afford to keep these assets anymore. Sell them and use that money to get you out of your debt.

If debt is seriously crippling your life then you may have to consider sales of some or all of your assets. The following step by step process may help; First step is to pay of any liens placed on your assets by the creditors .Next use the assets freed up by lien removal to aid in paying off your debt. However,if this includes selling your home or car ,then contingency plans for housing and transportation must be made.

Reducing your outgoings is one of the more obvious debt solutions. There are many ways in which you can try to do this, such as reducing your food bill by shopping at discount stores and switching from brands to private labels. Many websites offer discount codes and vouchers, which can also sometimes be found in magazines, newspapers and leaflets. However, if you are still struggling another option may be to borrow from your retirement fund if you have one, although this should really only be considered if you have no alternative. Creditors will often want details of your expenditure so showing reduced levels in this area may help to improve your negotiating position.

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Ignoring a debt, especially a big one – doesn’t make it go away. And you only put yourself in a more difficult position because creditors will still run after you. Seek help to handle the debt. Commit to following through with the solution. It is never easy to have financial problems especially when you don’t know where to source payments. But earnestness can often buy time and understanding from a creditor.


This was an insightful post. I know many people who are in deep debt and have filed for bankruptcy. Once you’re in debt, it’s very easy to get more.

Edward Ramjuse

Being in debt can be a very frustrating especially if you are not soo wealthy. Many of us find it difficult to think of possible solutions especially if one is faced with seizure of assets because of debts. The article gives many possible solutions that can prevent one from going deeper into debts.

Maya Pillai

If you are neck deep in debt, go to a debt counselor who can help you plan how to clear your debts. Debt consolidation is one way to do so but check the reputation of your debt management firm first.

Edelmen Anduyan

I think the best way to solve having debts is not to have any debt at all unless it is really necessary and you’re completely financially down. But if you do, I believe you should pay it asap after getting money or salary before using it for something else.


Debt management is easier said than done. For some, it is a vicious cycle almost like an addiction. Of course, circumstances vary from one person to another, but as was said, acknowledging the problem is the first step. Living within your means is definitely important as savings, something that you can turn to during rainy days.

Diw Methil

In these days of hard financial times for many persons, being in debt is inevitable. But there might be solutions that one is unaware of and this article should be an eye opener to them


the problem is that we need to spend only as per our earnings. so that way we can always avoid a debt trap.

Layla Summers

I think that advice given in this article is good because all our circumstances vary. On top of that there will be other things like the economy being in recession, or some-one is on a low income and even with all the benefits it is hard to keep out of debt because you miss even one payment on a credit card and it can be difficult to catch up.
For those who do go under for whatever reason then the advice given in the article should be followed so that they can consolidate their debts, manage to get some help and then try and stay on top everything especially regular bills like the rates, utility bills, mortgage payments rent etc. Some times with some effective but simple accounting of incoming and outgoing money and a neat filing system and ofcourse paying bills on time does help.


It seems that going into debt is a short-term solution to problems that could be better solved by either increasing earnings, decreasing expenses or simply doing without. If one never has to pay back one’s debts however then it’s just like a free ride. Some countries are suppossedly in debt, in ever-increasing debt, and yet for many generations this has neither bankrupted those countries or caused them to alter their behavior when it cones to spending, earning or doing without.

Matthew Bryar

Thanks for the article, some good advice. While I’m lucky enough to be okay financially, I’ve got some friends who are in a bit of trouble. I’ve tried to help them out, and I’ll send them this article, but it can hard to broach the subject with them. I hope they read this, especially the part about minimizing outgoings.


The article has a very generalist treatment. It reads like an advisory. I was expecting to find info on some useful websites and advertisement campaigns. However, this article unexpectedly elucidated a number of best practices while remitting or handling petty debts. Thanks.


I totally agree with this info! I’ve been trying to tell my friends about this kind of thing to no avail. I’ll definitely be telling all of them about this article.


Really agree,if we didn’t take care of your debts in proper time you will lose all the options to retain ur properties and survival otherwise would have available to you.You should also take care of minimising lending and opting for miniml interest debt.

Debt Free

Debt is one of the largest problems facing our society today. I agree that people need to look into various debt solutions, but without commitment from the individuals, the debt cycle will continue to go on. People must learn how to pay off debt without spending again and starting the debt cycle over.


I agree, debt can cripple our lives and ignoring it is not a good option. Controlling spending, selling assests and using the money to pay down debts are great ideas people can use to get them started on their way to financial independence.


The above tips for solving debt issues are quite on point. Thanks for the tips

Shambhyabi Nair

This is a very helpful article, I believe. As you mentioned, as a debt solution option doing nothing might sound amusing, but it often becomes the only option. Asset selling is also a good option, but you want to make your readers aware of deriving maximum amount out of a particular asset. That helps in repaying debts.

Beena SC Nair

Yes you are right.Debt is a big problem when you are leading a steady life with limited income.These measures has to be done as you will not be among ones who could ignore debts and trouble yourself and your family.Also maximum care should be taken to reduce debt also availing it with limited interest rate.
Thank for your information

Papiha Ghosh

Totally agree. To explore the best options available for debt solutions, a very important aspect is to identify and acknowledge the issue. Also agree with cutting down the costs. That is really really helpful to get back on track.

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