How to avoid over-indebtedness?

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The consumer society is subject to the temptation of purchase and credit. Getting into debt threatens everyone. Lack of vigilance, lack of budget limits, poor choice, all of which can lead to over-indebtedness. To avoid this, we must react quickly, but the best is to adopt good financial reflexes to avoid over-indebtedness. Here are tips and proven techniques to avoid getting into debt and to find solutions in case of over-indebtedness.

In the same theme

  • Fill in an over-indebtedness file
  • Make a credit redemption simulation
  • Simulate your credit redemption
  1. Over-indebtedness: what to do to avoid it?
  2. The redemption of credit: another solution over-indebtedness

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Over-indebtedness: what to do to avoid it?

Here are some practical solutions to avoid over-indebtedness:

-Establish a budget and stick to it

-Establish a budget and stick to it

With a little personal discipline, it’s easy to stick to a monthly budget.

The budget can be divided into different poles, such as basic needs (housing, food, bills, loans, clothes, car), leisure and outings, holidays, gifts (birthdays, Christmas), investments, savings.

-To use your credit cards

-To use your credit cards

Having multiple credit cards often has disastrous consequences: they are used to buy anything and everything. Why not allocate a type of expense per card? For example a card for gas, another for dining out, etc. In this way, we control his budget by limiting the use of his cards.

-Save 10% of what you earn

It is easy to open a savings account and deposit 10% of it at each salary payment. The operation can even be done automatically: it is enough to program a date and an amount with its bank.

With an online bank, it’s even easier to set up.

After a year, it can make a nice sum, and be a woolen stocking in case of unforeseen.

-To lengthen the life of his possessions

The car that breaks down, the washing machine overflowing, the sofa that shows signs of wear … in many cases, it can be tempting to get rid of its properties a little “faded” to replace them with new ones . Except that it can be expensive. A sofa on credit debt for long months. So, why not repair the minor damage of everyday life? The sofa could find a second youth covered with a beautiful shimmering fabric …

The consolidation of credit: another solution over-indebtedness

The redemption of credit: another solution over-indebtedness

When you have subscribed to several credits and it becomes impossible to repay them, you have to clean up your accounts completely to get off to a good start. The repurchase of credit offers this possibility.
Read also Which organization has the authority to buy back a credit?

By grouping the debts, the procedure allows to “blow”, because the rates are revised downwards and the debt lightened. More advantageous rate, restructuring of the debt, spreading of it, these are so many solutions to the over-indebtedness that allows a repurchase of credit.

More details on this theme

  • Over-indebtedness: rights and procedures
  • Good faith, essential condition for benefiting from an over-indebtedness plan
  • Solutions to get out of overindebtedness
  • Fill in an over-indebtedness file

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