In our time to take a loan easy.Make a loan can be for ten minutes, and there are options for this when you do not need anything other than a passport.On the money you can buy everything you want: cars, household appliances, flat.But what if at some point the situation got out of control and you are on the verge of bankruptcy?How to get credit from the pit?We give this account a few practical tips.
minimum payment
credit card holders often make one mistake.Often, banks provide the opportunity to use the credit line provided interest-only payments.This is the minimum payment.It would seem that such a scheme is very convenient.With this we can agree, but it is profitable for the bank, but not for you.If every month you make only the minimum payments, the issue of how to get rid of credit debt, never cease to be relevant for you.Experts estimate that the person who took the bank, for example, 300 thousand rubles at 18 percent per annum and making monthly minimum payment, pay the debt will have for 26 years, while in the end he will give the amount, almost twice the original.Do you want the future to puzzle over how to get out of the pit of credit?Then just try as much money to allocate to repay the loan.If the minimum payment is five thousand, ten pay, in general, as much as you can, but most importantly - more than required by the bank.
Small and large debts
If the problem has already occurred, and you still swallowed credit hole, do not commit new missteps.Thus, many borrowers who are in difficult situation, first decide to repay small debts and then think about the major.The logic is clear: firstly, the person finds it difficult to keep in mind the information on all loans, especially if they are many, and he wants to get even with at least some, and secondly, many psychologically easier to have a single large loan than a bunch of smaller ones.However, this reasoning is fundamentally wrong!Not to forget about any debt, you can transfer the information into the computer.Now there are many special programs for accounting finance.Get an electronic ledger, and it will be easier to manage not only long, but also the money at all.Remember: the more profitable first to repay large loans, those taken under the highest interest and involve the largest overpayments.But if the same interest terms on all loans, then, indeed, it is more expedient first to deal with small debts - it will be a good motivation for further payments of large loans.
Credit Limit
lot out of the predicament they see an increase in your credit limit.Let's say right away: this is not an option!So you just draw it time, give yourself a respite, but the situation has not changed for the better, only worse.Increasing the limit will result in an increase in term lending and mandatory monthly amount to repay.
Debt Consolidation
Some borrowers looking for options on how to get out of a credit hole, go to the bank and asked to combine several debts into one big loan in order to increase the repayment period and lower the monthly payment amount.In principle, a reasonable approach.But there is a problem.Such a scheme is debugged in Western Europe, we are also only available to refinance loans, that is getting a new loan for repayment of old, with all sorts of preferences and discounts available.But the main thing - the process of refinancing involves payment of various fees and commissions, so ultimately efforts may be useless, and the amount of debt will increase.Advantageously, such a decision may be only in respect of long-term loans, such as mortgages, and only when you have taken a loan at very high rates.
Crisis Plan
now go directly to the story about how to get rid of credit debt.First and most importantly - to gain the trust of creditors.You will not be able to avoid paying anyway.So do not hide from banks and individuals, which you should.Tell us about your difficulties frankly, make it clear that it is not going to avoid obligations.Perhaps you will meet, and be able to find a way out of a difficult situation.
Order in finance
If you are the owner of multiple debts, then do not know how to keep records of cash and financial affairs you going mess.Start monitor income and expenses.Every day, write down all your expenses, so you know exactly what the money goes.Try to conduct such accounts at least a month, and then analyze their financial situation.On the cost to pay special attention, perhaps any of them can be avoided and thus save money.After that, make a budget for the coming month.List all the possible revenues and planned expenditures (look at the data with the accounts in the first month).No matter how hard, stick with budgeting and do not spend more than it planned.So you will be able to clean up the finances and maybe find a way to get out of a credit hole.
Increased revenue
pay debts, and so when you are living paycheck to paycheck, of course, difficult.Where in this case, to find additional funds?It may make sense to take on more responsibilities in the main job, of course, for an additional fee.If this is not appropriate to find a third-party part time.Properly organize their time, you will surely be able to increase revenues.
borrow money
idea of new loans from debtors causes tremors and confusion.How to get out of the pit of credit if to occupy more and more?In fact, such an option can be a very wise decision.Only borrow should be people who do not require to have high interest rates.Do not hesitate to contact relatives and friends with the words: "Help get out the credit pits!" People who you roads where possible will certainly help.Besides, they will not require you to return the money for a fixed period of time so you will not have the exact framework for debt repayment.But, of course, undermine the confidence of relatives is also not worth it.At the first opportunity, return the borrowed funds.
Buy-sell
hero of the famous Soviet cartoon, Uncle Theodore, said: "To sell something unnecessary, one must first buy anything unnecessary ...".We can not agree with this statement.But it is possible to sell, and what at first glance seems necessary.For example, a TV, especially if you have a plasma and expensive.So you can not just bail out the extra money and free time, which used to take watching television and movies, for something more useful, for example, thinking of how to get out of a debt hole.Perhaps it makes sense to give up the car at the time of crisis.You will not spend money for its maintenance, repairs, fuel and so on, and the money saved can be spent on repayment of loans.
In conclusion
Now that you know how to get out of credit pits start to be active!And when a financial nightmare left behind forever forget the credits!It is better to save up first, and then buy.And yet, if you desperately need money, and you will once again decide to borrow, remember the limit: loans must not exceed fifteen percent of annual revenue.
Before you take out a loan, carefully read all the conditions of the bank, the size of the possible fees, payment terms and so on.Calculate how much it will cost you in fact a loan, think about whether you are able to repay it, you survive your family budget this load.Be financially literate!Good luck!
