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4 Ways To Sort Your Finances Out Quickly In A Desperate Situation

March 9, 2014 by lucas in Credit Cards, Debt

No matter what situation you find yourself in with regards to debt and finance, there is always a way out. Some people get terribly stressed when receiving debt collection letter and final demands on a regular basis, but this really isn’t something you need to be concerned with. At the end of the day, your own mental health status is more important than any quantity of digits on a computer screen, and while it is important to initiate procedures to deal with the issue, it’s really not worth losing sleep over. If worst comes to worse, you’ll simply have to declare yourself bankrupt. Whilst this is obviously an inconvenience, it’s got to be better than spending the rest of your days in a nut house, right?

Considering that, the article you’re currently reading has been designed to inform you about a few last resort-style strategies you might like to try out. Some of them are very risky and could result in larger amounts of debt if they fail. However, as you’re headed for bankruptcy anyway. you’ve not got much to lose, and so they’re worth of your consideration. Again, don’t get too stressed about all this, your health should always come first.


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1 – Credit Cards

So long as the debt you have isn’t from one of the major credit card suppliers, applying for one now could provide you with enough cash to keep the debt collectors at bay for a while longer. This idea should only be used if you know for certain a large payment is on the horizon, but you don’t have enough money to get you there. On average, you should be able to borrow somewhere between a thousand and five thousand from each card you take out.

2 – Remortgage

Bankruptcy is only really a problem if you own a property, and so opting to remortgage to get the money you need could be a wise move. Once the official receiver gets hold of your accounts, they’re likely to sell your home to satisfy the creditors. So, if you can beat them to it by re-mortgaging or selling the property privately yourself, this might free up enough cash to keep everyone happy.

3 – Online Gambling

Don’t get me wrong here, I wouldn’t suggest for one moment that playing Roulette or Blackjack would be a wise move for someone whose experience debt issues, but when it comes to Poker, I feel a little differently. Sites like list all the best Poker portals online, and so they make for a good place to start. So long as you have fantastic skills in mathematics, this game could be the answer to all your prayers.

4 – Sell Your Car & Anything Else Of Value

If it came down to a straight choice between selling all those antiques you own or losing your house, I bet you’d be down to see your local dealer quicker than you could say “18th century cutlery set”.

Regardless of what happens to your eventually, try not to put too much emphasis on the material side of life. Sure, you might lose your home and all your possessions, and you might also receive a ban from ever starting your own company again, but at least the people you love will still be around to share the burden.

I wish you all the luck in the world!