HI ALL OR CONCERNED GURU/S, AM OVER 50, SALARIED, FAMILY OF 3, DAUGHTER IN IST YEAR IN BSC BIOTECHNOLOGY....WIFE HOME MAKER. I AM CERTAINLY FEELING SCARED....COULD NOT ACCUMULATE MONEY FOR SAVINGS, DO NOT HAVE ANY PROPERTY....SEVERELY UNDER DEBT. MORE SO AS FOR MORE THAN LAST TWO YEARS, FOR MY SIBLING'S SUSTENACE(TERMINALLY ILL PATIENT), EXHAUSTED SAVINGS, SOLD CAR AND MORTGAGED WIFE'S ORNAMENTS. SKIPPED EMIS OF MY PREVIOUS LOANS AND CC. HE DIED RECENTLY, FATHER TOO DIED TWO YEARS BACK, MOTHER DISOWNED ME HENCE NOT GOING TO GET ANYTHING OF MY FATHER.....I WANT TO GET DEBT FREE IMMEDIATELY BUT NO BANK OR NBFC GIVING ME FOR OBVIOUS REASON OF LOAN DEFAULT. I AM LIKE LIVING FOR TODAY. GETTING SCARED FROM LIFE AND THINKING OF GETTING PERISHED BY ENDING MY LIFE. IT IS LIKE LIVING LIFE IN A DARK TUNNEL, NO STREAK OF LIGHT AT ALL.....PLEASE HELP.

Ans: Referring to your query regarding the debt and uncertain expenses at all times. Please find some suggestions for your reference.

• Get a part-time job (Increase your Source of Income): If you have the time and energy, getting a part-time job can be a great way to earn extra money to pay down your debt.

• Make a budget: Once you have a good understanding of your cash flows, you can create a budget to help you track your spending and make sure your cash flow will be managed properly (Expenses are not more than your earnings)

• Prioritize your debts: Not all debts are the same. Some debts, like credit card bills, have higher interest rates, which means that you will be paying more in interest over time. Focus on paying off these debts first.

• Negotiate with your creditors: If you are struggling to make your payments, contact your creditors and see if they are willing to negotiate with you. Many creditors may adjust the repayment schedule you can afford.

There are some resources that may be helpful:

Debt relief organizations: There are a number of organizations that can help you get out of debt. They can provide you with counseling, and they can also help you negotiate with your creditors to reduce your payments or create a repayment plan.
• National Foundation for Credit Counseling: 1-800-388-2227
• Consumer Credit Counseling Service: 1-800-642-2227
• Credit Karma: 1-888-239-7066