It is very easy to get a loan today: banks are ready to issue them even without certificates and guarantors. This attracts more and more customers willing to take a money loan. Unfortunately, soon there comes a moment of reckoning for their thoughtless actions, and citizens begin to look for all possible options in order to repay the loans. However, it is not necessary to go to the bank. The passion to borrow money from friends and acquaintances also does not pass unnoticed for the family budget. How to get out of debt will be described in this article.
Assess the situation
First of all, when the question of debt arises, it is necessary to correctly assess the current situation. Depending on who you borrowed, from the bank or from relatives, further actions will depend. For example, if there are debts to relatives or friends, the problem is much easier to solve. By applying for a deferred payment, you can find a side job and pay off in the near future.
If there is a debt to the creditor, then you must act immediately. For example, having obtained a loan, a person relies on his strength and capabilities, but unforeseen situations can always happen, and at the most inopportune moment. That is why, faced with financial difficulties, you should immediately contact the bank with a request for a deferred payment. As a rule, credit organizations meet and do not charge a fine for a small delay.
Where to wait for help?
Having asked the question "how to get out of debts and loans," the debtor must know that he can always be helped. For example, in the case of debt to friends or relatives, you can always turn to someone else for help, re-pay money and repay the debt. Of course, such a step is an extreme measure, because in any case, this does not solve the problem. You still remain financially dependent.
If the creditor is a bank, then guarantors can come to the rescue. Most often, financial institutions insure issued loans and issue loans only if the borrower has a guarantor. This, of course, concerns large sums, not small consumer loans. In this case, the surety is now the main solvent person and repays the debt for the main borrower.
In addition to these options, you can often see ads: "Help get out of debt." The role of assistants here is played by individuals or microcredit organizations, which, having paid off your debt, will issue a new one, only at huge interest. The real bear service. That is why it is better to avoid such help.
Action plan
So, having decided to finally pay off all loans, it is important to think through every step of your actions. After all, knowing how to get out of debt, you can avoid many mistakes in the future, incline towards a debt hole.
First of all, you need to get rid of small loans. So, paying off small debts, it will be easier to focus on larger ones. To make decisions easier, you should put things in order in financial matters. It is precisely because in home accounting that chaos reigns and credit debts appear. Thus, taking control of all your income and expenses, you will be able to further navigate in which direction to move. If the income level allows you to pay bills on time, but some budget items do not allow this, then it will be best to temporarily or completely remove them from the list of necessary ones.
Further, having understood your financial capabilities, you can proceed to action.In a situation where there is clearly not enough money and the credit limit has been exceeded, new sources of earnings should be sought. This may be an additional part-time job or a new type of business, or you will need to take overtime. But in no case can you arrange a new cash loan.
Having allocated money for a month, you can proceed to planning the next. So you will see where there are still problems, which means that it will be possible to move on to solving them.
Ways to pay off debt
The best way to become debt free is to give up on them in the future. That is, after paying off all debts, the temptation to purchase a thing on credit should be avoided.
Having a debt to the bank, you can ask him to lower the interest rate or to achieve restructuring. At first glance, this seems too complicated, because financial institutions do not intend to simply lose profits. But in fact, lenders are interested in at least returning the issued money: this is better than declaring a debtor bankrupt and losing all their funds. That is why, by contacting the manager with a request to change payments, you can get a chance to pay off debts in a more convenient form for you.
If this method does not help, then the insolvent citizen may ask for a delay. During the time that the bank or lender allocates to not pay the debt, the debtor must put his financial situation in order.
How to get out of debt quickly
If there is no possibility or desire to wait long and constantly worry about your financial situation, then there are two options. In the first case - to sell collateral and pay off debt. Then the creditor will immediately write it off, and the borrower will have no credit obligations. If a money loan was taken not from a credit institution, but from friends or acquaintances, then you can also sell any valuable thing. The proceeds will go to repay the loan.
The second answer to the question "how to get out of debt" is to declare yourself bankrupt. This is an extreme measure leading to the fact that in the near future a person will not have the opportunity to take loans anymore. The court declares the insolvent citizen bankrupt and writes off his debt to the bank.
How to get out of credit debt
In the event that the borrower does not want to appear in the black list of banking organizations, you can try several more solutions to the problem. For example, some individuals apply for several loans at once. In this situation, a good way out is to ask for a deferment of payments at banks with lower interest rates. Thus, by paying off the proceeds of the entire debt to the organization with high interest, the borrower frees himself from more urgent obligations. After this, the remaining loans should be paid off in order (also in full). When one debt remains, it will be possible to pay it off normally or, if circumstances allow, to close it completely.
Magic to the rescue
Caught in a difficult financial situation, people begin to look for unconventional ways to solve the problem. For example, those who believe in magic try to read the plot. It is unlikely to be able to get out of debt in this way, but it will help instill confidence in one's strengths and give hope. Signs of cash can also help. There is a superstition that at night you can’t take out the trash from the house, otherwise the money will cease to be found. Perhaps someone checked this method on himself, he really helped and answered the question of how to get out of debt. However, the whole point is not in magic, but in revising a person’s attitude to his income and expenses. Financial discipline and increased efficiency can work real miracles.
Useful Tips
Many citizens who take loans do not even read the terms of the contract. But in vain! There are several ways to save and not pay too much.For example, with early repayment, you can save more than one thousand rubles, but when using bank cards, on the contrary, you can spend extra money.
Some debtors sometimes even hope for a miracle. There is an opinion that there are rich Muscovites who help get out of debt. Of course, it is theoretically possible to imagine a situation where a good uncle decides to repay your loan. However, what will he demand in return? Break into new debt? Or work out at his enterprise? Before looking for information on such solutions to the problem, think: do you need it? As practice shows, it is better not to believe rumors and various fables, but to try to pay off your debts yourself.
To summarize
The reasons leading us to a debt hole can be very different. Sometimes, really the only chance to get out of a difficult situation is to get a bank loan. Then, to insure yourself, you should seek the help of guarantors. Thoughtless and unreasonable processing of loans may soon turn into a problem, and then another question will need to be solved: how to get out of debt? Prayer in this situation will help little. You can only strengthen your belief in an early solution to the problem, but in reality it is only necessary to attract additional income and reduce costs. In order not to become a hostage to eternal obligations, it is necessary to stop using light loans.
