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Kavan Choksi Offers Tips to Get Out of Debt

Kavan Choksi Offers Tips to Get Out of Debt

Debt is not necessarily a bad thing. A mortgage can be of a huge help in achieving the goal of owning a house. It can also be useful in building wealth in case a house appreciates in value. However, it is also important to remember that too much debt can hamper the ability to pursue discerning financial goals. Kavan Choksi points out that having too low credit scores or pending bills can make it a lot more difficult for people to qualify for further credit like business loans or even car loans.

Kavan Choksi mentions a few tips that can help people to get out of debt

Debt can include credit card bills, student loans, mortgages, and many other types of personal debt. Carrying a lot of debt can be pretty stressful, and even create multiple financial hurdles. Getting out of debt can improve the financial health of a person and open up more opportunities.

Anyone carrying a good amount of debt should take the following steps to get out of debt:

As per Kavan Choksi, whenever possible people should double the amount of payments they make towards the debt, especially for the high interest ones. Paying more than the minimum amount can speed up the time it takes to get out of debt.

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