Skip to main content

Seeking Debt Relief from Your Creditors


You can no longer concentrate and sleep properly thinking about your financial problems .Many people fall into financial trap that leads to DEPRESSION. One may admit it or not, most often than not, financial problems or issues play a sensitive part in one’s daily life. Once the Creditors start calling you randomly even during unholy hours, sending notification letter/s, or worse, collection agencies will deal with you personally.

When you are really pressed for options, tendencies would be to borrow AGAIN from another creditor/s or loan sharks! If you give in to another financial trap, you will never get out of debt in your lifetime, and that’s a guaranty.

You may owe some amounts from Creditors/Banks, but when you are in trouble paying them off, the best option is to seek debt relief. You can arrange for a certain period of time to settle your financial obligations with your Creditor/s, while looking for ways to have additional earnings, such as:

  • Taking on additional part time work or any other source of extra income. Do garage sale in your neighbourhood and unload other belongings that no longer useful in your daily life.
  • Seek assistance from Financial Advisers - they are professional and if you open up and you are willing to resolve your financial dilemma, then they are the right people to approach.
  • Finances with your Spouse or Partner - if you were both into the specifics borrowing or made the loan/credit in a conjugal manner, then you can definitely talk on how to settle your financial obligations.

Once you have made your best effort to look for ways in paying your outstanding debt, then sort out your allowable funds to cover your debt on a monthly payment. By then, you should be ready to speak to your Creditor/s and arrange the monthly payment that you can afford.

Sometimes, it is just a matter of proper communication with Creditors, and your willingness t look for options in getting out of debt and depression. You can be creative in seeking for help, it’s just a matter of having that guts to make a move in finally making your life debt-free!


Comments

Popular posts from this blog

Fool Proof and Easy Ways to Thousands of Funds

It’s a common knowledge that skipping your daily dose of your “to-go” coffee and eating out will help boost your savings. Let’s be bluntly honest, this can be a real saver, especially for the young ones starting to build their financial bed. But, in order to save, this should not let you dampen all your nights at home eating the simplest of foods. ***You need to set a goal as to how much you are looking at for your savings.  Make sure it should be a realistic goal! Here are some hacks that could save you money but will not at least make you sacrifice your lifestyle too much: > Keep a record of your savings – It will help you pinpoint any waste spending by showing where you can cut back. Seeing the amount of savings increase will also help you to motivate further. > Learn the art of negotiation – If you feel that you are paying too much on your purchases or on your cable/internet subscription, perhaps you can ask for discounts. A 10 – 15% discount taken out fr

Applying that Brake on Your Debt

What will you do when your debt spirals out of control? Perhaps you no longer know where to turn next. A lot of us spend far beyond our means and cannot save adequately for future’s needs/emergencies. And more often than not, it spells disaster! What if you suddenly lost your job, or any other source of income? And you are in a mortgage, had a medical problem? What would you do now? Before you get trapped in this situation, or worse, bankruptcy. Observe these warning signals and steps so that you can take the right decision: KNOW HOW MUCH YOU OWE. - Some people doesn’t even have any idea how much they actually owe compared to how much they earn. Spending may seem be a satisfying and great outlet to relax, but NEVER forget to think about first on how these purchases are going to be paid. Are there any available funds to take care of them? Think about late payment fees and other surcharges that may be incurred. This can lead late payment fees and incur elevated interest rates.