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How to Prioritize Your Debt.

Depending on how much debt you have and how many bills you need to pay, it may be impossible to pay it all off at once. Instead, it is necessary to prioritize the ones that are most in need of being paid.

When attempting to make ends meet, having a vehicle and a house to provide shelter are among the most important assets a person has. As such, it's important that these and all other secured debts are the ones that are paid first. Paying monthly utilities is also necessary. Losing water or the house is something that could cause irrevocable damage to the situation, which is why these debts are so important. Certain credit card bills and bills related to payments on big ticket items such as a TV should be placed lower on the list, though it's likely that creditors for these items will have to be dealt with.

Once you have dealt with your major needs, you can now move on to dealing with other debts. It can be hard to deal with everything at once, but by prioritizing, you'll be able to get your debt under control in no time!

on Fri, 2017-04-28 11:11