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Consequences of poor financial management.

Main responsibilities of lenders and financial advisors

Way to solve loan payments

Main source financial advice and how they can assist people in debt

*Pay back the loan as soon as possible

*Apply for hardsip variation

*Refinance the loan

*Apply for bankruptcy

*Don't ask for a loan at all

For needed help with financial problems you can always go to banks like west pack or commonwealth for financial advice

Consequences of poor financial management.

Key terms and definition

Problems associated with using credit cards

Legal consequences

* Fall into debt or bankruptcy

Financial managements -Financial management refers to the efficient and effective management of money

Reposes-retake possession of when a b`uyer defaults on payments.

Garnished- means that a lender has applied to get a legal order so that a certain amount of money be taken from borrowers wages.

Debt and credit- tempting to purchase more goods and services- spen close to their spending limit

Financial consequences

*Repossession

*Garnished

*debit and creditcards

Some risk associated with credits cards are-

* Falling into debt

*Losing money on late fees

*Having to pay additional interest

Social consequences

*Domestic violence

* Physical and emotional illness

* Family breakdown

*suicide

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