When debts accumulate, it is often the inexorable descent into precariousness. Getting out of debt is the only solution to avoid this inevitability, yet it is necessary to know how to go about it, because the erasure of the debts is not made to act of it. Among the possible solutions to avoid financial problems, seeking help is important, by getting closer to associations, a social worker, or CAF.
What to do in case of big financial problems
To improve his financial situation, we will have to take the problem head on, and act before it is too late, especially in a period of crisis where work is scarce. Important: there is always a solution to implement, but we must not remain without reacting, the policy of the ostrich is the worst possible when one has concerns of money.
Make a list of his credits
We must begin by making an inventory of all that we must, in order to assess its ability to repay on time. In front of your debts, indicate the rates of interest of each of them, in order to establish a priority order in the refunding if it is not possible to treat them all at the same time.
Change your lifestyle
It will have to make cuts in its budget, unless you have exceptional cash flow. So, just as with his list of debts, you have to list his monthly expenses and see which ones you can separate. We can also try to renegotiate with its suppliers: change insurance if it is too expensive (home and car), renegotiate a telephone subscription, save energy, separate unnecessary expenses (cable TV…).
Revolving companies have one main objective: to get their money back, and not to run after the unpaid if there are other solutions. It costs nothing to call customer services and ask for a lower rate of borrowing, so you can pay off your debts. Nothing says it will work, but at least you will have tried.
Solutions to pay off debts quickly
We have already approached the subject several times on social credits, with the primary desire to give the maximum information on existing solutions, and on the means to implement them. To find out more and put the most assets on your side, we advise you to read the following tips:
- Getting out of debt with the help of an association
- Micro-credit for indebted people
- Get financial help when you are in debt
How to get out of debt
Everyone knows the fable of the fountain on the subject, because when the kiss came, the cicada in debt was very lacking. When reality goes beyond the fable, you have to open your eyes and react, because debts will add up and have a strong impact on family life. The first thing to do is to think carefully before buying a credit, and not listen to his urges when it comes to buying a new car for example.
This kind of advice may seem trivial, but if everyone set themselves a budget not to exceed according to its resources, the commission of over-indebtedness would have less work. In addition, you should know that a debt not repaid in time will result in fees, see bailiff fees that will come to add to the total amount due.
Beware of the net: among the purchases to take with tweezers, those made on the net, where the currency is completely dematerialized, and where it is very easy to click. The act of purchase is done so quickly that the consumer does not take all his time to think, especially since it is often possible to pay in several times. Except that + that…
One solution among others: the redemption of credit
Recall the principle: it is to make a new loan from another company that will allow to repay all loans in progress, and lower the overall monthly payment. However, this is a solution that will ultimately result in more money, because the credit redemption will spread over a longer period to offset the decline in monthly repayments. Not to put in all hands therefore, and to book informed customers.
Warning: even if the credits are going to be sold with the repurchase, that does not mean that they will be closed automatically. Remember to close all your revolving, not to be retried a little later.
Our advice for no longer having financial problems
In the lines that follow, we summarize the actions to put in place for things to change, and make money problems a bad memory.
All expenses must be separate
Among those that are indispensable (such as rent, although it is possible to move to find a cheaper housing) and those that can be reduced (car costs, purchase of the last iPhone…).
Make a complete statement of debts
By highlighting the repayment dates. Same thing for monthly bills, EDF type and telephone: remember the date of sampling in order to anticipate and not see the rejected samples.
Some things can impact your resources, such as a layoff, a period of unemployment, or a long illness. When you take out a credit, you usually add insurance, even though it is not always compulsory. It happens that this insurance covers accidents of life, so re-read his contracts, and be sure to attach all the supporting documents when sending the case files.
Do not leave your banker without news
The advisor may have to deal with a little overdraft, or a refusal to pay. Take the lead before he worries. Contact him and explain him the situation, to see if together you can set up temporary solutions.
What to do in case of over-indebtedness
If the difficulties can only be solved with the help of the Francia bank, it must be contacted to remove an over-indebtedness file (it is also possible to obtain it on the Internet or from associations like Credmus). However, the launch of such a procedure does not preclude a complete stop to pay its debts pending a solution.
Most importantly, always pay rent and support. For credits in progress, try to pay a monthly, even reduced.
Finally, do not take back new credits. Do not laugh, some need to be reminded. If your daily routine improves (cash flow), tell the board to make an informed decision.
If you are facing a legal proceeding (seizure), do not forget to also inform the commission of over-indebtedness.
What is the personal recovery procedure
If the file is admissible, a personal recovery will be pronounced, with or without liquidation judicial: the goal being to settle the debts in 8 years maximum (if one can refund). The consequence is the registration in the FICP file of the BDF until the end of the recovery procedure.
The good news is the assurance not to see the bailiffs land during this period of time (on the debts included in the procedure).