The credit card brings a lot of practicality to our day to day, this is fact, however the same facility can turn into a nightmare, this because that invoice can come much higher unexpectedly, adding up debts and more debts. What to do to get rid of them?
First of all it is crucial to understand that credit card is not an increase in your income, meaning that your irresponsible use will only increase your debts. Without planning, if the invoice total is not paid in the following month, the interest charged may vary from 12 to 15% a month, and in a matter of months, interest on interest turns into a snowball with a scary resulting balance.
If this is already your case, you must be calm and seek the best alternatives to get out of this situation without much damage. For this, we will help you with these tips below:
Re-examine the use of credit card
Where is most of your spending? It is imperative to ask this question and investigate where you spend more, so you can cut, and if necessary even leave the card at home, preventing the temptation to make purchases and increase debt even more.
Try to negotiate the debt with the card administrator and analyze whether the proposal offered is fair and adequate to their conditions. At first it is common that the agreement does not seem so advantageous, however it persists until getting a good offer. Ask for a negotiation with fixed installments, as you will know the total cost of ownership (CET) and can better plan your budget.
Make a loan
After evaluating the alternatives offered by the manager, if it is concluded that these are not feasible, consider taking a loan. But remember to opt for modalities with lower interest rates than card debt.
You have seen that it is possible to get rid of card debt, and especially that it is crucial to have self control with your finances, so if you need to make a personal loan insurance, count on the Financial Group. Easy money, fast and totally online, only with the Financial Group. Apply now for your loan and get out of the red.