One credit and one low installment. If we have managed to replenish our home budget in such an easy way and we have practically no consequences at all, why not repeat it? In this easy way, not one person got into debt and got rid of it, it’s not that easy anymore.
If we do not have a problem with the payment of an instalment, then the other one, which is the same, cannot harm us. However, we forget that we will now have not just one, but two instalments to pay, which, in total, are already a little more than that. But what the hell, this time we have succeeded. At some point, we fall into a vicious circle and come to the point where our home budget does not want to extend for nothing and we cannot afford to pay all the instalments in accordance with the repayment schedule. We are beginning to extend the due dates, which entails further costs. But it doesn’t help anyway.
Check also: female financial independence – FinMarie
Further delays in payment
We start to choose which debts we pay off this month and which we pay off next month. In this way, we are more and more in arrears with payments. For late payments, banks and lenders are starting to impose interest on us. These are not small, but particularly severe in non-bank institutions. We are threatened with a negative entry in the office and the National Court Register, or even, we are already in these databases. All this makes our credit capacity equal to zero. Thus, we no longer have a chance for additional financing in the bank. Is this the end of our possibilities? Fortunately, it is not. There is also a way out of this situation.
Aid for the very indebted
We took the appropriate steps – we started to carefully analyze our expenses, save money, take on additional work and increase our revenues. Nevertheless, we can still only dream of timely payment of all installments. The bank has again refused to provide us with additional financing.
A loan to debtors may be the only way to solve our problems. It is a product offered to us by non-bank institutions. It is they who determine what conditions must be met in order to obtain a loan for the indebted and they do not have pre-imposed guidelines. Besides, there is not always talk about this, but the market for non-bank products is intended for people who, for some reason, are denied financing by the banks. This is why lending companies are much more liberal in their approach to our creditworthiness, opening the door to lending to a wider range of customers.
A loan for the indebted – for the indebted – is a chance for us to get out of the way. We can use the capital raised in this way to repay our debt. This way we will get rid of many installments and our financial problems will end. Repayment of overdue liabilities, in favour of one loan for the indebted, will certainly relieve the household budget.