Debt relief is a series of activities designed to restore the financial stability and solvency of a private or business person with high debt at various stages of maturity.
Debt relief for individuals and companies is now also a financial service offered to people in debt. Currently, debt relief assistance includes debt collection, payment of payday loans, loan extension, debt collection and debt collection (debt repayment).
What is it and how does the debt removal work?
Assistance in the debt relief of natural persons boils down primarily to the fact that debtors are disbursed for the benefit of the debtor (without BIK ), consolidation loans(debt relief – the purpose of disbursement of funds), a debt relief loan is paid (even to the account indicated by the bailiff ). In the case of a usually smaller amount of debt (up to PLN 6-10 thousand), a debt loan is not necessary, and debt loans are sufficient for smaller amounts. Real estate debt reliefit usually boils down to paying off a person’s debt, followed by supporting them in applying for the release of mortgage collateral from a given property. Debt relief is a multi-stage process, which usually begins to determine the actual amount of the person’s debt, and ends with closing the last debt, checking if entries in the debtors’ database are deleted when the debts are closed. The debt relief can be carried out independently, but also with the support of professionals from agencies mediating in these activities.
How to get longer? Step by step
For debtors, diligent pursuit of debt relief and a responsible approach to the subject are important. The debtor should:
- determine the amount of your debt, due to payday loans, loans, borrowings or other types, all that is his debt to be repaid at the moment,
- provide some priorities, e.g. which debt is most past due, should be repaid first,
- assess realistically your financial situation, income, employment, credibility, in the context of choosing a product for debt relief, i.e. debt loans, debt relief loans with a debt collector, debt relief without BIK,
- go to loan companies, banks, private individuals to learn about their debt loan offer offerings or to use the services of a professional intermediary in the process of debt relief, debt relief with debt collector, debt relief for natural persons.
Effective debt relief, who can help with this?
Debugging private individuals is sometimes more difficult than companies, so it is reasonable to use the services of professionals. Advisors in such companies provide the client with:
- determining the amount of debt to be repaid,
- developing a debt repayment plan,
- submitting applications for an appropriate debt relief product ( debt loan with a debt collector, non-bank debt loan),
- comparison of loan offers, debt relief loans, the most optimal choice in a given situation for the Debtor.
Is it possible to postpone payday loans?
Delaying payday loans must be carried out wisely and preferably under the guidance of professionals. Many indebted people in payday loans make a notorious mistake, namely rolling their payday debts. He decides to take out new payday loans, only to repay previously incurred loans or to extend their repayment period. This approach increases debt rather than solving the problem. Debt relief from payday loans should start with the suspension of the extension of the repayment period, incurring new loans, and entering into settlements with lenders (obtaining consent for repayment in installments), as soon as possible to obtain funds to pay off the debt. Systematic deleveraging is important. Helpthis is conducive to professionals, especially when they motivate the debtor to work more, close e.g. one payday loan during a month, etc. In the case of payday loans, a loan for debt relief is also a good solution, however, it is best from private individuals who do not check customer databases, income. Such loans debt loans without BIK should have a long loan period – the debtor is then guaranteed low installments, which in stages serves to build his financial stability.
The removal of natural persons is a difficult but possible activity. Determining, using the help of professionals, careful planned repayment of the entire debt is crucial. Determination, orderliness and refraining from rolling up debt are the best principles of effective debt relief. Even if it is debt relief with a bailiff, it is possible because parabank institutions are becoming more flexible in mobilizing funds for indebted or unreliable people according to financial bases. It may be associated with additional costs, however, debt relief with a bailiff is an achievable product. For many debtors, the only chance to return to normality is to get out of financial problems.