Financially, desperation equals poor decisions almost everytime. When your funds are low and your debts are high the fear of making a lifestyle change or having to choose between basic necessities can be emotionally draining. So what can you do?

If you are in a situation where bill collectors are calling, you owe more than you are bringing in monthly, and the choice between paying bills or eating is crossing your mind, stop and take a breath. You may be in a desperate situation but don't make a desperate decision.

In these situations basic necessities are important. Food, shelter, transportation, and suitable decent clothing (not a shopping spree) so you can continue on. 

The bill collectors, call them, let them know what you can pay based on your budget. Be consistent with that payment as well as your communication with them and if you are able to settle get everything in writing.

No one is immune to being in these types of situations but using credit cards or payday loans to pay off other debts owed is a desperate move that makes your situation worse. Instead, focus on meeting your basic necessities and working your way out of the debt you got into. It's not going to be easy but it is possible!

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