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:
“[The Republicans] offer ... a detailed agenda for national renewal.... [On] reducing illegitimacy ... the state will use ... funds for programs to reduce out-of-wedlock pregnancies, to promote adoption, to establish and operate children’s group homes, to establish and operate residential group homes for unwed mothers, or for any purpose the state deems appropriate. None of the taxpayer funds may be used for abortion services or abortion counseling.”
—Newt Gingrich (b. 1943)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Pain and fear and hunger are effects of causes which can be foreseen and known: but sorrow is a debt which someone else makes for us.”
—Freya Stark (1893–1993)