Debtors must remember: do not try to pay off all debts, because this is simply not possible. Many people don't feel much pressure before going into debt and don't owe as much money. But because they took out loans, they ended up in a situation where they couldn't extricate themselves and found that they owed far more money than their principal.
However, many people, fearful of being known by their families after going into debt, choose to tear down the east wall to make up for the western wall, and constantly apply for new loans to fill old debts. Doing so will only allow debt to accumulate and eventually fall into an endless cycle. When they found that they were exhausted and could no longer tear down the eastern wall to make up for the western wall, they realized that they owed so much money.
Loans and credit cards nowadays are very easy to apply, but repayment is very difficult. The debtor should come to his senses, shed tears and panic for the sake of so-called face and self-respect, and live a life that is worse day by day, is it really worth it? Many people are worried about affecting credit reporting, but in fact, if you apply for ten credit cards and five online loans, your credit record will be very bad, even if you apply for a car loan or a mortgage, it will be affected. However, you don't have to worry too much.
When you pay off your debt, your credit record will be overwritten and repaired after five years. Therefore, these practices do not make any sense now. What you have to do now is how to survive, try to make money, and then pay it back.
There are also concerns that collectors will burst the address book to let family, friends and relatives know about their debts. But is face really important? Life is your own, if you fall, how long can your income last for high interest? I'm telling the truth, you need to stop the loss in time.
