The interest on the credit card revolving has always been a big problem for those who were in doubt with this form of payment. When paying only the minimum of the invoice amount (15%), the remaining amount accumulated for the next month the snowball came: interest rates became more and more expensive, increasing the debt. To contain this often abusive practice, the rules have changed. In April 2017 it was determined that, after paying the minimum of the card once, in the following month the customer must receive a proposal from the bank to renegotiate the life and avoid the accumulation of values. Despite this change to alleviate the interest charges of this modality a little, many people still bring old debts that have not entered the new configuration.How, then, to get rid of them In this post, you will find out the answer. Check-out!
Regardless of whether the debts on the card are new or old, these debts should trigger a red light on your finances. That is why, It is essential to take care of your budget so that default does not damage your life and takes over what should be spent on basic expenses. Start by putting together a personal expense spreadsheet. Understand how much you are. you earn, what are the fixed and variable expenses (remember to round the income down and the expenses up, so a small change does not change the planning). Measure how much it is missing to close the accounts at the end of the month and, starting from, look for ways to save. By reducing your spending, albeit temporarily, your budget will earn. new fan and it will be easier to pay the values. If you need a little help to save, this post give you the 25 steps to achieve!
Look for the lender to negotiate life
With everything at the tip of the pencil, It is time to look for the lender to do the debt negotiation. Current debts are already Are you under the new rule and this process automatic, but the old ones need to go through this stage. Look for the card operator and Propose a negotiation Regarding the value and form of payment. Do not accept any proposal that is not really convenient for your budget, at the risk of you. end even more indebted. Trade with values that are possible and that are adequate up to come up with a proposal that is beneficial to both parties. Remember: if it goes to Justice, will the creditor have having expenses with a lawyer. So for him too It is interesting to give a discount and guarantee payment of the debt!
Search for a loan with lower interest rates
Currently, the loan has an average annual interest rate of 132%. That a high figure, but considerably less than the 338% per year of revolving credit. Scary difference, isn’t it So, get a personal loan a way to replace a more expensive debt with a cheaper one what already give you a huge relief! If you looking for options with lower interest rates, such as those offered by Just, this possibility becomes even more advantageous. This is because the rate starts at 1.9% per month or 25.34% per year, depending on the profile of those who hire. Well cheaper n Once you have the money available, negotiate with the card operator to pay off the entire life of one time, getting rid of the abusive interest build-up.
Take care of current debts
With the change in the interest rate rules of the credit card revolving, current debts become a little less burdensome. But its, because they got cheaper, does not mean that there is no maximum attention for you. pay everything on time and do not end with the dirty name, okay It is essential to keep an eye on the relationship between current and old debts. Older people demand more attention because they are usually more expensive. But, don’t let the new ones pile up together, already that it can mess up your entire budget. it’s super important that you adopt new habits of consumption and learn to save before you even have to resort to the card revolving or any form of loan. Combining savings, financial organization and payment of old debts, your financial success will be very close!