Fighting debts step by step. How to diagnose a problem, develop a plan and get out of debt?
What is indebtedness? How to recognize that it is starting to threaten the security of home finances? What to do to tame your debts and even get rid of them completely? What legal provisions relating to debtors do you need to know? A STEP-BY-STEP guide by Payday Loans Fort Worth TX for your better help.
Few people can say about themselves: I have no debts. Most of us owe something to someone. It may be, for example, the bank where we pay off the mortgage loan taken out to buy an apartment. A debt is any transaction made with a credit card (at least until it is paid off), an overdraft in a personal account, a loan from a family or equipment bought in installments.
It is extremely easy to start living on credit today. It is much more difficult, however, to settle our liabilities on an ongoing basis - especially when we lose control over our debt and lead to a situation where the position on the "I" side does not match the "I owe" side.
I know that falling into debt does not have to be the result of stupidity or greed. Lots of people have found themselves on the financial edge due to insufficient knowledge, misunderstanding of credit mechanisms and lack of skills in managing the home budget. Nobody taught them this, because our country does not care about economic education. That's why there are blogs like Financially Resourceful.
This time, I have prepared a comprehensive guide for you, in which I show you how to fight debts step by step. How to get rid of excess debt? When should the debtor flash the red light? What rights are worth using and where to seek help when the situation becomes really dangerous? I invite you to read - I sincerely hope that there will be people among us who will really be helped by this guide to get out of debt.
Table of Contents
• Chapter I: Our daily debts, that is, we are all debtors.
o A short definition of debt
o What are claims?
o "Good debts" and "bad debts" - what is it all about?
o What is the debt spiral? How not to fall into it?
o Who is the maintenance debtor?
o How to avoid over-indebtedness?
o The process of falling into debt
o "Why do I need a home budget"?
o 6 deadly sins of the debtor
o Payday loans: the first step to getting into serious problems
o Credit card debt
o Losing a job, which is a risk factor for falling into debt
o Inheritance of debts
Chapter I: Our daily debts, i.e. we are all debtors.
According to the data of the Info Monitor Economic Information Bureau, an institution that collects information on consumer debts and delayed payments, at the end of the third quarter of 2019, slightly over 2.8 million Poles had a problem with excessive debt. The sum of credits, loans and other liabilities taken in this period exceeded PLN 78 billion. To put it differently: the average debtor in our country has an average of about PLN 27,000 to pay off.
Interesting data on the debt of Poles is also published by the National Debt Register. His analysis shows that statistically every Pole has a debt of around PLN 4,500. Theoretically, the most indebted people are between 26 and 35 years of age, who have to pay back approximately PLN 335 million in total.
Good to know: A study conducted by SW Research commissioned by the Union of Financial Companies shows that about 40% of Poles are regularly late with paying off their obligations, such as loan installments, loans, alimony, bills, etc.
Sounds strong, right? Let us remember, however, that the concept of "debt" has devalued over the last 20 years. This is the result of the fact that we have started to take out mass mortgage, consumer and car loans.
Payday Loans Arlington TX is here to help you.