Mika
VIP Contributor
People continue to remain in debt for various reasons, including insufficient income to pay off debt, debt is too big to be paid, lack of seriousness about repayment, or dishonest intentions. No matter what the reasons are, debt needs to be paid, otherwise, you will land up in jail for financial frauds. Genuine efforts, coupled with hard work, savings, and a commitment to paying off debt, are fundamental to debt repayment. However, the first thing you need to do is avoid getting into debt no matter what, and secondly if you have no choice except to get debt, borrow only the amount that you can pay.
