How can you live without money to pay your debts (one owes too much)

I just saw a news that a man chose to commit a crime because he could not repay too much debt. It is true that many people in society have failed to start a business or become poor because of heavy debts. Faced with such a situation, some people will choose to do something illegal and criminal, which is really inappropriate. In my opinion, if a person really owes too much money and is unable to repay it, he should first do the following.

Make sure you live freely first.

A person with high debts, first of all, ensure that he lives freely, which is the key point. How to ensure that you live freely? Just don't step on the legal red line If you are arrested for debt, then everything else is empty talk and your freedom is lost. Forget about debt for the time being. How can we avoid stepping on the legal red line? That's very simple, because the debt dispute itself is a civil dispute. What actions will involve criminal? As long as you are familiar with the relevant legal documents in this field, you can know and take corresponding evasive measures. No matter how much foreign debt a person bears, a free life is a possible prerequisite.

Open the pipe yourself.

This is also the point. For a normal person, no matter how much debt, no one will kill you, that's for sure. Then, in the face of heavy debts, in addition to ensuring that you live freely, the next step is how to live, that is, to get through your own pipeline income first. In other words, whether you are going to work, doing small business, moving bricks, picking up garbage and so on. You must form a normal income. You should use this normal income to support yourself and your family, and your debts can be put aside for a while. Some people may say, what if creditors don't give in? Then give him your life and see if he dares to take it. You should ensure your own survival first, and then consider paying your debts, so that ordinary creditors will understand.

Planned completion of initial capital accumulation

Paying off debts while earning money is a normal living condition for people with high debts. If you just make money and don't consider paying off debts on the premise of ensuring survival, it will definitely not work, which will intensify contradictions. However, it is unrealistic for people with high debts to expect a little salary or a small income to pay off their debts without a large income. When can they pay off their debts? Do you want to live in debt all your life? It must be wrong. In this period, we should be prepared. What should we prepare? One is the accumulation of contacts, and the other is the original fund balance to prepare for continuing to start a business. I don't quite understand. For example, if your monthly income is 1000 yuan, you can use 2,000 yuan to live, 5,000 yuan to pay off debts, and the remaining 3,000 yuan can be accumulated slowly to accumulate original capital for continuing your business. That's what it means.

Choose a good project and start all over again.

The choice of continuing to start a business is very important for people with high debts, so it must be stable and accurate. I often advise entrepreneurs to continue to meet four conditions, that is, light assets, replicability, making quick money and making big money. If a project can meet these conditions, it will start without hesitation.

The purpose of all this verbosity is to tell some people in society how to face difficulties and how to do it. What I said above is the way for a highly indebted person to turn over. In short, if one's confidence is not crushed, everything is possible!

That's all I want to share with you today. Thanks for reading.