Take control of all debt
When becoming more aware of your finances after separations, it is normal to be tight on money. However, don’t ignore
the debt problem.
Here are some tips to overcoming debt after your separation.
Categorize your finances:
Figure out the priority level for each category of bills. These high priority bills are the ones to be paid first because the consequences could be serious, if failed to do so. As a result, you could end with an eviction or foreclosure.
Sort out loans and credit card debt:
Use your favored choice of a budgeting
system to work out what you can afford to pay. Most importantly, stay ahead of the bill. Especially while in an emotional state such as separations.
Keep in mind the joint debts:
Converse with the whole family on how best to proceed in your specific situation. Communication is the key
to understanding the language of leadership.
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