With the world financial crisis, which are important to ensure your finances to make possible. But what happens if you have a bad credit rating or a history of bad debts? E 'still possible to take positive measures, and improve your situation. When you do nothing, then a deterioration of the situation - the credit card and credit card company in structuring their products in this way. So doing nothing does not help. So here's how:
Step 1: Decide to adoptaffirmative action. This is for most people, the most difficult step. Collide and the hope that the situation will improve and that their creditors will wield pity on them and held a magic wand. Not happen. Financial products are characterized by terms and conditions, if not always to punish the measures taken to understand and the rules.
Step 2: One important thing that you must keep in mind is the creditor is probably very willing to cooperate with you. They are the best in their interest Are part of payment in respect of any payment at all. The first step is to contact them - politely but firmly. Tell us about your situation and to take concrete measures to improve the situation. Ask for a lower interest rate or repayment schedule. You can make a poor response, but persevere and put your request in writing - then this is a permanent record of your willingness to work with them to resolve the problem and expected to receive a better response.
Step 3: Using the> Credit cards. Do what you do, cut them to bury him, they freeze everything until you take them. Any expenditure on credit (a socially acceptable word for debts) will make things worse, and if you are already a bad risk to pay because the situation above, you are probably too hard for the money right, do not you spend - probably more than 30% APR (annual percentage rate) or even 40%. It will cost you huge amounts of interest.
Step 4:If you decide to reduce debt. Take a sheet of paper and list your debts in order of interest rate. All loans and credit cards, along with the APR applied to anyone. Begin paying those with the highest interest rate first, and you're on the list. Focusing on high cards interest rates to be paid more than the minimum balance each month. If you are the minimum that will pay him take years until the debt is clear. No matter how much you pay only pay for what is possibleimpossible to obtain more than the required minimum. Pay off at least be paid on other cards and debt, until the player with the highest interest, then start the next.
Step 5: Keep going! Again, easier said than done, but if you work systematically through the list, you can finally free of debt. Treasure this moment because you're one of a small minority who do not have debts. Then you can spend your money, what makes you happy and start in life that you want to build.
