Meet crisis

Posted: August 18th, 2013 | Author: | Money

Although many experts have criticized the lifestyle, unfortunately, but more often we live on credit. We pay borrowed money both for housing, home devices / appliances and vacations, Christmas dinners and weddings. It is not surprising that at a time, one meets with the crisis.

photolupi / photo on flickr

photolupi / photo on flickr

It can arise in a variety of situations. Sometimes it’s a disease, sometimes being sacked from work, and sometimes another reason. The problem always remains the same – they are ruining the installment payment, and we can not afford to repay. What to do in such a situation?

First of all, we can not wait out the situation and think that the bank will not notice the lack of paid installments, contact etc. At the same time we must remember that every day after the date our creditworthiness falls. By this we may not be able to save a restructuring or debt consolidation.

We can restructure or consolidate much of the debt. Sometimes the transfer of the debt to another bank or replacement of several loans into one that allows us to save a considerable sum. Sometimes it helps to reduce the amount of the installment by for example rescheduling for a longer period of time.

However, keep in mind that all activities should be carried out before the repayment date. And if you’re late with a payment and we will see the phone with the bank, then you should immediately ask for the renegotiation of the loan due to the changing situation. Even better, if you know that you do not have time to contact your bank first. The staff will look at us much more favorably, which greatly increases our chances of getting more favorable conditions.

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