Stay Clear of being Insolvent - Manage debt - or avoid it!

In the coming economic hard times insolvency is a bad position to be in.
What that means is not having the ability to pay debts or bills. 
When you look at the US Government debt they are insolvent as the payment for the huge amount of debt now covers only the interest due on the loan.

If your monthly expenses exceed your monthly income you are then close to insolvent. When you fail to make your payments due every month is when you become insolvent.

In other words it may not be a good idea to follow in the footsteps of insolvency lead by the US government.

As you pay down  your debt, stay away from debt in tough economic times If you cannot afford to pay the payments due every month.

Seek positive cash flow at the same time debt is dissolved.

Before you happen to loose your job be sure you have 6-18 months of income reserved to cover monthly expenses this will keep you solvent.

GnS Research