Content Overview 
- Summary
- Step 1. Create a Net Worth Statement and a Cash Flow Statement.
- Step 2. Examine your income
- Step 3. Examine your expenses.
- Step 4. If after eliminating your non-essential expenses, you still have more outlay than income, prioritize your debts.
- Step 5. Create a payment plan for your unsecured debt.
- Step 6. Renegotiate as much of your debt as you can according to your plan
- Step 7. If you still have a short fall, look for money including from loans against assets. Consider bartering
- Step 8. As a last resort, sell assets - perhaps even your residence.
- Step 9. If you need help through these steps, consult with a professional.
- Step 10. If nothing else works, consider starting a bankruptcy proceeding.
Ten Steps To Consider In The Event Of A Financial Crunch Or Crisis
Summary
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Ten key steps you can take to help in the event of a financial crunch or crisis are as follows. Information about each step is noted in the other sections of this article.
Step 2. Examine your income.
Step 3. Examine your expenses.
Step 5. Create a payment plan for your unsecured debt.
Step 8. Consider selling assets, including personal property or perhaps even your residence.
Step 10. If nothing else works, consider starting a bankruptcy proceeding.
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