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:
“It is the American vice, the democratic disease which expresses its tyranny by reducing everything unique to the level of the herd.”
—Henry Miller (1891–1980)
“One rational voice is dumb: over a grave
The household of Impulse mourns one dearly loved.
Sad is Eros, builder of cities,
And weeping anarchic Aphrodite.”
—W.H. (Wystan Hugh)
“Let every man, every corporation, and especially let every village, town, and city, every county and State, get out of debt and keep out of debt. It is the debtor that is ruined by hard times.”
—Rutherford Birchard Hayes (1822–1893)