Many debtors in distress turn to truly competent help or their own bank only when the trouble is already very high, when it is difficult to help. Instead, people usually get themselves into even more trouble. So we’ve collected what we shouldn’t do if we can’t pay our debt anymore.
Don’t believe anyone who promises money right away!
Many still fall for the scammers who promise a huge sum almost immediately. It could be a loan, a prize, anything. A common feature of these scammers is that they ask for some upfront payment and then step down, and we can never say goodbye to their remaining money, which would have been good.
Don’t hire a counselor right away!
For most, the former is true anyway, that is, they are able to take away the rest of our money and cannot provide real help. It is better to sit down with yourself or talk to a clerk at the branch about how to resolve the situation.
Don’t close your old credit card and overdraft!
Many are immediately trying to get rid of financial instruments where they may still be in debt. But treating them well can give us a chance to sort our lines a bit. We use them very carefully, but with termination, we only take the opportunity.
Only in the last resort should your long-term savings be addressed!
Usually we cannot access various savings for retirement or other purposes without loss. That is, we do not always get back our paid savings. It is best to take savings such as pension funds, pension insurance, unit-linked only if you have a solid financial background, otherwise keep your money in a more accessible place, such as a deposit. Many people get in trouble with their salaries because they cannot access their savings when they are in a difficult situation.
Never run away from the drive!
If you are in debt, it is a good idea to sit down and discuss the matter as soon as possible. It is worth starting with the banks as well, as usually you can come up with something that will ease the situation.
It is worth replacing your debts with a cheaper one if you find a cheaper solution. While looking at the BankRikio calculator, you will find mortgage and unsecured mortgage loans , which are much cheaper and can help you repay your installment, as the risks and costs associated with providing a bank are lower.