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)
“Thus your fathers were made
Fellow citizens of the saints, of the household of GOD, being built upon the foundation
Of apostles and prophets, Christ Jesus Himself the chief cornerstone.
But you, have you built well, that you now sit helpless in a ruined house?”
—T.S. (Thomas Stearns)
“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)