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Underwater

This is what happens when the amount of an outstanding loan is more than the thing you borrowed it for, is worth. For instance, if you take out a $300,000 loan to start up your business, but your idea flops and the value of your assets (including office space, equipment, and software) now has a market value of only $250,000, your company is considered underwater (by $50,000— eek).

This new year, get out of debt and become financially free

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