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Drowning in debt

Question

I have a lot of debt every month. My salary can cover everything, but not their full instalments. What should I do? Should I concentrate on paying off one debt at a time or what?


Answer

FINANCE
Unfortunately you are bound by contract to pay at least the minimum instalment and preferably more than the minimum. If your salary cannot cover it, then you should re-look at your non debt expenses and try and make provision for it. Otherwise, you have made too much debt in terms of your income.

- Charné van der Walt

 
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