Step-by-step instructions for those who want to get out of the debt pits.

Often, citizens do not arise difficulties with the acquisition of credit obligations, but as soon as it comes to making monthly payments, the question arises: how to do it profitable?

There are citizens who understand all the seriousness of the problem and consciously do not take loans, but those who have their 3 or more credit products are also found. With such a slaughter, you can even try to get out of the debt pits, as you have to have it hardly happens.

At the same time, experts argue that if the credit load is more than 50% of the monthly income, it is necessary to beat the alarm, as your position has reached the level of unreliability.

Systematic and step by step to get rid of all debts, but this process will not be rapidly.

This does not mean that after the notification you should forget about loans and live on. Any financial organization in the provision of loans is aware of their risks. And if the borrower admits that he has no money to repay the loan, but he doesn’t try to hide at all, then the lender can make concessions.

Bank employees or MFIs often face the appeals of borrowers when a citizen cannot provide credit obligations, but at the same time it is not ready to part with borrowed funds or credit cards, as well as go to work. With such debtors at the lender, the conversation is short. The lender just goes to court with a claim for recovery of debt.

However, if the borrower ceases to gain loans and is ready to pay everything in full, he will definitely go to the meeting.

What we talked about above. If you stop regularly execute loans and loans, then pay off the debt will be much easier.

Often, citizens believe that if they choose the most minimal loan for repayment, then faster calculated with debts. However, this is not the case.

With the right count, it is worth considering not the body of the debt, which was obtained by you when designing, and the final amount. If you have two credits, one of which is provided under 10% per year, and the other is 15%, then it is better to start with the latter.

In order to settle with debts as soon as possible — it is necessary to sit down and calculate each loan, and you will understand all the pros and cons that have not previously been taken into account.

It often happens that you took a loan on some conditions, and after some time they became much more profitable. In this case, you can contact the credit institution with a request for refinancing.

You can contact both the bank where the loan has already been taken and in a completely new one. But it is worth understanding that if your loan is burdened by a key, then it is better to look for favorable conditions in the same bank in order not to spend time on the registration of the collateral in a new one, which is accompanied by the same additional financial costs.

You can also refinance if you have more than one loan. Some banks have programs that allow the borrower to combine several loans in one, even if they are in different financial institutions.

At a minimum, this step will allow you to unload your head and stop thinking about what loan is to repay first.

From the debt pits you can always get out, the main thing is to find the current approach to it. If you sit and say that everything is bad, then the loans themselves will not close. And in order to prevent this — evaluate your solvency from a 50/50 ratio, where one part is your monthly income, and the second part is the maximum amount you can spend on monthly payments on loan obligations. If you adhere to this norm, then you will not have problems with payment.

We hope that our article was useful for you.