Debt consolidation loans for bad credit -Request a debt consolidation near me now

Long is a topic about an increasing number of Poles. Over 50% of us struggle with loans or installments. The amount of debt increases every year, and many of us are unable to deal with them. The pursuit of trends, new equipment, smartphones or holidays abroad makes us more willing to use the loans and credits offered by banks. Unfortunately, the debt will have to be repaid, plus interest, which we often forget. How to get out of debt without money, without a job, and in a difficult situation? We will discuss all this below.

The largest percentage of debt falls on people aged 36-59. The amount of debt “per head” is about $ 22 thousand. People a little older, aged 50-59 have a total debt of almost $ 10 billion, and 442,000 people in this group have problems paying off their debts.

The most indebted are the inhabitants of Mazovia, Silesia and Lower Silesia. Is it caused by the high cost of living? It’s hard to tell.

The record holder in debt is a man who has a debt of over $ 45 million.

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Poles are not taught to save, as evidenced by credit debt statistics. It is worth, however, to save at least a small amount, which we will systematically save on a monthly rainy day. A savings account or a deposit will also be great. Thanks to this, in the event of illness or job loss, instead of reaching for a loan and falling into debt, we will have money set aside to help in a difficult situation.

Good home budget planning will also help us not to take out loans. By planning expenses in advance we will be able to predict when a larger amount of cash will be needed, thanks to which we will be able to save it earlier by saving on other things. For example, when planning a vacation instead of taking a loan at the last minute, let’s try to save for it several months earlier by giving up some pleasures.

Controlling bills is a trivial solution, but there are cases when we forget about paying off a given debt or installment, so the amount to be repaid is still growing, and when the debt collection company takes over the case, we are surprised that we have debt. When paying monthly bills, make sure that everything is paid for.

If you already have to take a loan and you already have one, get a debt consolidation loan at https://dedebt.com/. Thanks to him, instead of two installments, there will be only one, and usually lower, because it is tailored to individual needs.

When we need a loan, we go to the bank so that the adviser presents us with an offer that we can use. Remember to always take the amount we assumed that we would need. There are many offers and it will be in the bank’s interest to sell us as much as possible. Tempted by the opportunity, we will agree, and later it turns out that there is much more to pay than we expected.

Do not use credit cards, and preferably do not use them at all. Such cards are very tempting because it seems to us that we have extra cash then. Unfortunately, the limit ends quickly and interest increases quickly, making it easy to fall into debt.

If you decide to take a loan, choose the bank that will have the best offer. Under no circumstances should you use payday loans or loans as proof, because their interest rate is much higher than in standard banks, and the repayment period is very short.

What is debt?

First of all, let’s define what can be understood as debt. A debt is an unfulfilled obligation to pay to a creditor, i.e. simply the lack of timely repayment of a loan, installment, subscription, etc. By not repaying our obligations on time, we can be exposed to initiating debt or court proceedings.

Debt collection is a process aimed at making the debtor pay off his debt. This process is divided into five stages, which are:

Liability arising from the lack of timely repayment, unpaid bills or invoices.

Arbitration is the first stage in the creditor’s application for repayment of a given sum. This is done by sending reminders usually in the form of a letter or by phone. As the debtor, the best solution will be a settlement with a debt collection company at this stage. Usually, this ends with the signing of a debt repayment commitment within a given time frame or spreading the debt into installments.

Court proceedings begin when the debtor is unwilling to resolve the case amicably or if the debtor still fails to pay the debt within the set deadline despite the settlement. The purpose of court proceedings is to obtain an enforcement order that will allow further actions to be taken to collect the debt.

Clause proceedings are carried out by submitting an application by the creditor. The purpose of the clause procedure is to obtain an enforcement clause, which is the basis for initiating bailiff enforcement.

Enforcement proceeding – its purpose is debt enforcement. They are initiated by submitting an application to the bailiff for enforcement, which contains detailed information and a description of the actions that should be taken by him to enforce the claim.

Bailiff enforcement can take three forms:

– from a bank account – the debt will be withdrawn from the bank account maintained by us, this is done by blocking funds that are on the account and those that affect the account

– from remuneration – the bailiff informs the workplace of the attachment of part of the remuneration for the debt

– from movable or immovable property – items or buildings whose value will cover the debt will be taken from us, and then they will be auctioned at a bailiff auction

Why do we fall into debt?

Why do we fall into debt?

The ability to buy virtually anything in installments means that we often spend more than we earn. The amount of amounts we have to pay back monthly is so large that we do not even remember what we are paying for. If falling into debt affects more than half of us, it is worth considering, why is this so? Are we able to isolate the reasons why more and more Poles are struggling with debt?

The reason may be primarily insufficient financial education. Not every parent has to be familiar with saving, so that children are not taught the value of money or how to manage it. Unfortunately, but education does not teach it either, hence lack of knowledge and too hasty decisions on spending money, and in case of lack of them – reaching for loans.

The second most common reason is accidents such as illness, job loss or company bankruptcy. Unfortunately, we have no influence on these events, and wanting to keep life at a specific level, we reach for loans that are hard to pay back later.

Bad financial economy. Many of us cannot manage money, and despite the fact that we do not have enough money, we spend even more. Hence, the monthly growing debt, because the cost of living outweighs the proceeds to the account.

Character traits such as extravagance or lack of assertiveness are often responsible for falling into debt of people who have them.

Single people are more likely to fall into debt from people living in relationships or families. It is caused by looking for consolation in shopping and often very expensive gadgets.

Ways to get out of debt

Ways to get out of debt

One of the better, though not ideal, solutions is consumer bankruptcy. It consists in the court declaring the debtor insolvent towards creditors. Consumer bankruptcy allows you to get out of debt you can’t pay. It is mainly done by spreading the obligation in installments in such a way that the debtor will be able to pay it back, while at the same time ensuring the livelihood of his family.

For many people, it probably won’t be too revealing, but one of the best ways to get out of debt is to earn some extra cash, which we will spend on paying off the debt. Currently, we have plenty of opportunities to take on additional work, many of them do not even require leaving home. Work can be done online, so we choose the hours in which we can work. Instead of borrowing for current expenses – it’s worth working for yourself.

Selling out movable or immovable property will also be a good way to get extra cash. If we can’t afford to keep something, it will be more reasonable to get rid of it – in this case, sell it. The money obtained in this way will help cover the debt because peace is worth a lot more than material goods.

Reducing expenses will definitely help too. When fighting debts, we should try all of them, including the so-called belt pulling. Maybe we spend money on something that you could easily give up and thus spend the money you have been wasting so far on paying off your debt.

If your monthly debt installments are too high, you can always try to contact the creditor to reduce them. Seeing the willingness to cooperate on our part, the creditor should go hand in hand and adjust the installments so that we will be able to pay them back. Maybe you can even combine all your monthly debts into one convenient installment?

Keeping a household budget is not always easy and fun. If your monthly expenses are higher than your revenues, then you need to change something. It is worth writing down all your monthly expenses on a piece of paper and thinking about what you can opt-out of. Maybe it turns out that we pay a gym pass we don’t use, or we spend money on unnecessary things, and saving them we would be able to pay off the debt.

When the situation is really bad and the actions we take have no effect, we can use the services of companies that deal with so-called debt relief. Specialists will help change our lifestyle and match solutions best suited to the individual financial situation. We should remember, however, to carefully check the company whose services we want to use so as not to find cheaters preying on people who need help in paying off their debts.

Sometimes, in a really difficult situation, it is worth going to support loved ones. If they are not able to help financially, then they may have an idea of how we can get out of debt or what we could save on. In addition, they will certainly support us with a good word, and this is also important in difficult situations.

When getting prompts from creditors, it is worth figuring out who we are indebted to and whether the debt has not expired. We can get such information by checking the BIK (Credit Information Bureau). If it turns out that our debt is time-barred, we can submit an appropriate letter, thanks to which the proceedings will be discontinued.

What not to do so as not to worsen your situation?

The worst solution will be to try to repay your current debt with new ones. In this way, we only loop our problem, and instead of decreasing debts – they increase and extend by the next years of repayment. There will be a time when we will cease to be solvent and then problems will start.

Avoiding contact with creditors will also not be a good way to solve problems, on the contrary, it will only worsen the situation. Not answering the phone, not responding to letters from creditors and refusing to settle will result in court, enforcement and even bailiff proceedings, which means that we can lose much more than our debt.

Don’t postpone repayment. Later, it can only get worse. Small debt can turn into a really large sum if we neglect its repayment because the amount of debt will be charged for debt collection, reminders or bailiff’s enforcement.