Reducing Household Debt
Household debt can be challenging to reduce. Major approaches include: 1) Paying down debt over time from income or accumulated savings, if available; 2) Debt write-down or refinancing via negotiation, bankruptcy or government bailout; and 3) Inflation.
Read more about this topic: Household Debt
Famous quotes containing the words reducing, household and/or debt:
“Single acts of tyranny may be ascribed to the accidental opinion of a day; but a series of oppressions ... too plainly prove a deliberate, systematical plan of reducing us to slavery.”
—Thomas Jefferson (1743–1826)
“Except that household virtue, most uncommon,
Of constancy to a bad, ugly woman.”
—George Gordon Noel Byron (1788–1824)
“The debt was the most sacred obligation incurred during the war. It was by no means the largest in amount. We do not haggle with those who lent us money. We should not with those who gave health and blood and life. If doors are opened to fraud, contrive to close them. But don’t deny the obligation, or scold at its performance.”
—Rutherford Birchard Hayes (1822–1893)