Faced with an accumulation of debts, everyday life can quickly become hell. Having a critical financial situation can have consequences on your health: stress, anxiety, etc. Getting debt free quickly is therefore a priority. Before arriving at a situation of over-indebtedness and risking being stuck in the Best Bank, solutions to repay its credits exist. Good Lenders Finances helps you to see more clearly by proposing its methods to free you from your personal debts.
List the debts
This is the first step to take to free yourself from your financial problems. It is essential to take stock of what remains to be reimbursed in order to step back and find solutions.
Compare your debts (interest rates, amounts, durations), classify them from the most important to the lowest. This will allow you to start organizing an action plan to pay off minor debts and alleviate major debts. The important thing in this step is to plan your repayment capacity on the upcoming deadlines. For this, you must also analyze the movements and the maintenance of your bank account. Any reimbursement incident that could have serious consequences on your budget (penalties, additional costs, etc.)
Renegotiate your credits
It is indeed a rather effective method to pay off debts quickly. What costs the most when you take out a consumer loan, a mortgage or simply a loan to buy a new car for example, is the interest rate applied. It is therefore this lever that you must activate as a priority by renegotiating your loan. Also, if your personal situation allows, negotiate with your lending institution the duration of your loan. Thus, you can reduce the duration of your debt and quickly find better management of your budget.
Make sorting and sell your unused goods
To free yourself from minor debts, it is entirely possible to consider the resale of movable goods: your household appliances that sleep in the garage, unused or broken vehicles that will delight DIY enthusiasts, or any computer equipment still in use. good working condition. If the sums obtained by the sales seem tiny compared to the total accumulated debt, they can however be the subject of a reimbursement of a small consumer credit for example.
Rearrange your budget
You may not be aware of it, but very often over-indebtedness or unprofessional debts come from poor budget management. To prevent as well as to remedy a difficult financial situation, flattening all your expenses is a formidable method. List your monthly expenses, separate them into two parts: essential (electricity, insurance, food, etc.) and dispensable (various subscriptions for example). You will understand, eliminate the superfluous. Prefer the practice of a free outdoor sport, to an expensive indoor subscription. Regarding your essential expenses, compare the market offers and see if by changing your insurance or telephone plan, you could not make any real savings. Also pay attention to your daily expenses and the use of your credit card, please the useful over the unnecessary.
Consider debt consolidation
It is indeed a serene solution to free yourself from debts gently without harming your purchasing power. Quite the contrary. The advantage of buying credit is to reduce your overall debt in a single monthly payment. You only pay one monthly payment more in line with your repayment capacity. At Good Lenders Finances, we are well aware that life involves unforeseen events such as the arrival of a new child, the replacement of a car or substantial health costs. This is why our advisers accompany you and build with you your credit consolidation file in coherence with your personal situation and your needs. In order to offer you the best chance of obtaining a favorable response from our banking partners. If additional financing is needed, cash can be added and thus avoid taking yet another consumer loan.