💰 Family finances · #74

We have so much debt that it feels suffocating. How do we plan repayments in an orderly way?

First list all your debts openly, because you cannot plan for something you cannot see in full. Note each debt, its minimum payment and its rate, then prioritise the most burdensome while continuing to pay the others. Cut spending on wants for a while and channel the surplus to the debts. Talk to your lenders about a more affordable schedule; delaying payment when you are able to pay is an injustice. Do not take on new debt to cover the old. Keep despair at bay by celebrating each debt that is settled. If you are desperate and dealing with loan sharks (along), get help from AKPK. See family finances.

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This answer is general reference, not a fatwa. For your situation, consult the religious affairs office, a Syarie lawyer or your state Syariah Court.

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