Pay bit by bit or clear one and move to next

S

Smiley123

Guest
I recently closed my business and as I was a sole trader I am liable for the outstanding debts. I need advice on weather to clear them all bit by bit every week or should I clear one in total and then move on the next. I contacted all my creditors when I finished and explained my situation and to date I haven't received any demands. Also I am not paying interest ( to date anyway). Its just becoming very disheartening as half of my wages are going to creditors and at present I cant see any light at the end of the tunnel. Please help!!
 
fair play to you for wanting to clear your debts, it will stand to you in the next venture

just try think of it like a mortgage, you are chipping away bit by bit at the lot and each of your suppliers are regaining a little bit of the money they already paid on 30 days to their own suppliers

good luck
 
Thanks Gar123,

Dont think I will venture into another business any time soon though. Had 5 and half long years of it. Didn't do too bad out of it (at least I got on the property ladder) but the hours and the responsibilty just got too much at the end.
 
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