Smart Secrets of Financial Planning

1
Smart Secrets of Financial Planning

• Which Will Help You Escape From Bankruptcy

2

• If you are finding yourself in heavy debt or on
  the verge of bankruptcy, its time to do
  something about it. Bankruptcy basically means
  when a person declares that he is unable to pay
  the debt. Whether you are considering approaching
  services for help or you are doing your own
  financial planning, it is necessary to avoid
  bankruptcy as it can have severe negative impacts
  on you in a variety of ways.

3
Possibility of Losing Your Home and Property

• Bankruptcy means losing your property unless you
  find a way to make payment, whether you are a
  part owner or full owner, your property will be
  sold so that it can help repay your debt.

4
Effect on Employment

• In some countries and professions, bankruptcy can
  cause you to lose your job, if you are likely to
  declare bankruptcy, it is essential to check into
  this matter with your organization. If there are
  rules like that, look for debt solutions and
  agreements.

5
Impact on Personal Life

• Your personal life will also be affected greatly
  by bankruptcy, it may cause you to feel stress
  and overburdened.

6
Low Chances of Lending in Future

• Although even if you manage to get out of
  bankruptcy, there are fewer chances of you
  getting a loan in future as lenders are very
  hesitant and nervous about lending money to a
  person who has been bankrupt in the past.

7
Check Out Your Credit Report

• The first step is to check out your credit
  report, know how much money you owe and to whom.

8
Apply For a Second Job or Part Time Work

• One job probably wont be enough to get out of
  bankruptcy, you will probably have to consider
  for a second job or part time work. Know your
  talents and skills and be ready to offer your
  services. It will be tough but the sooner you get
  rid of your debt, the better.

9
Spend With Cash Instead of Credit

• Minimize your spending by paying with cash,
  instead of credit. Keep a credit card only for
  emergency. Credit makes it easier for people to
  spend more.

10
Start Selling Items

• Sell the items you dont need or rarely use,
  avoid hanging on to unnecessary items.

11
Pay a Visit to a Credit Counselor

• Dont hesitate to take services from a credit
  counselor. He will play a positive role in
  providing you an effective financial planning
  strategy which will help you lower your debt.

12
Ask Family and Friends for Help

• As terrible as it sounds but drastic times call
  for drastic measures, ask them to lend you money.
  

13
Plan Your Budget Wisely

• You will need to cut down on your spending and go
  for only necessary items, try listing all your
  monthly needs into three categories based on
  their requirement that will give a strong idea
  about what to purchase and what you can sometimes
  later too.

14
Solid Rock Realty Advisors, LLC 2020 Charlotte
Street, Suite 14 Bozeman MT http//solidrockprope
rty.com 406-582-1265