Who was able to get out of the debt hole. How to get out of debt? We are looking for payment methods

Who among us has not dreamed of a luxurious life in a big house near the ocean with a beautiful yacht sailing the waters? We especially pay attention to beautiful pictures from the lives of the rich and, to be honest, it is difficult to find someone who would say that they would not want the same. But there are many cases where all this feigned luxury turned out to be a big soap bubble. Everything was bought by people with borrowed money. And when there was nothing to pay, the property of the “rich” was auctioned off. And only one thing remained unchanged - huge debts.

For many, luxury remains just a dream, but debt is often a reality. We began to get used to living on debt, but did not learn how to manage our finances. Our desires are often disconnected from the real possibilities of repaying loans. What to do if a person has accumulated debts, how can he get out of the debt hole? Our advice will help you resolve these issues.

Try to live within your means

In order not to ask banks for relief or, it is advisable to prevent problems from arising. After all, it’s easier than solving it later. Likewise, it's easier to find a way out in the early stages of a debt spiral than when you've accumulated a ton of outstanding debt.

Don't take out loans unless you are confident in your ability to pay them back. Control your finances, do not pursue luxury or ostentatious wealth. This way you will not fall into debt dependence, and you will not have to look for ways out of it.

But since you need to go to the bank, keep in mind that it is advisable to take out a loan if the following conditions are met:

you need borrowed money for really significant purposes that cannot be ignored or if they subsequently bring tangible profits;
you could not find cheaper and more profitable sources of funds;
you have calculated your personal financial plan and are confident in your ability to repay the debt.

Don't ignore debts

If you have accumulated loans and cannot pay them back, under no circumstances let the situation take its course. You cannot think that your creditors will forget about you and the loans issued. Sooner or later you will have to answer.

You should not hope for the opportunity to declare bankruptcy. Judicial practice is not yet on the side of such problem borrowers. Especially if they do not want to solve their financial problems. Your task is to set a goal yourself - to solve the debt issue.

Assess all the reasons for debt

To find a way out and pay off the debt, you need to understand the reasons for the current situation. Debts could arise due to:

failure to control costs;
desire to live beyond one's means;
inability to plan a budget;
emergency situations as a result of which your income has sharply decreased;
unpreparedness and unwillingness to meet their obligations.

Having understood the reasons, you will be able to correctly develop a strategy for eliminating financial obligations to the bank, and also determine how willing the financial institution will be to make concessions to you.

Check the total amount owed

A big problem for borrowers is their inability and unwillingness to control their debt. Of course, you can clearly pay your debts according to schedule, but how many of you regularly contacted the bank and clarified your current debt?

That is why it is important to immediately find out from the financial institution your debts for each loan. Moreover, it is necessary to clarify separately the data on the loan body, interest payments and accrued fines.

Don't avoid communicating with creditors

A mistaken tactic would be to avoid communication with representatives of a financial institution and even fear such contacts. Especially when it comes to collectors. Of course, these specialists behave quite rudely and sometimes do not hesitate to make threats. But this is no reason to be afraid of them. It is necessary to calmly explain that you know about debts, are looking for money and are ready to pay everything off as soon as the opportunity arises. And under no circumstances should you swear or press for pity. These actions are not constructive.

Determining the repayment sequence

To pay off debts, you need to develop a payment strategy. Especially if you have several loans. This way you can optimize your financial resources by directing them in the most profitable directions. The borrower can focus on at least three strategies:

we pay off the smallest debts and get rid of distractions;
we reimburse the bank for the most expensive loans, reducing interest payments;
We make payments evenly across all available loans.

We increase our income

It is necessary to conduct a thorough financial analysis of your income and expenses. If you see that there is not enough income, then you should find sources of funds, for example, get an additional job or try to earn extra money, including freelancing. Or perhaps this whole situation is a reason to change jobs in order to find a more profitable place?

We optimize costs

The borrower needs to create a spreadsheet of his monthly expenses. It is necessary to highlight the primary costs that must be carried out, the less important and unnecessary ones, which can be easily eliminated. For example, it is advisable, first of all, to limit spending on entertainment and the purchase of expensive and often unnecessary items.

A good solution would be to get rid of unnecessary things, the sale of which will help you get cash and pay off part of the debt. If you have several plasma TVs in your home, then you should think about selling one of them.

Attention! You must turn on austerity mode, accumulating as much money as possible to pay off debt.

We are looking for payment methods

You should not urgently rush to apply for a new loan to pay off the debt. It will be especially dangerous to turn to microfinance organizations, where the cost of loans is extremely high. It is also risky to borrow via the Internet, as there is a risk of falling for scammers. But it is necessary to look for funds to cover the debt. It may be advisable to contact friends and acquaintances who will agree to lend a certain amount without interest.

How to get out of a debt hole?

According to statistics, more than half of the country's population has debt obligations to banks.

Some of them pay their debts in good faith, some deliberately hide from banks and do not pay, and there are those who, due to life circumstances, have lost the opportunity to pay off their financial obligations.

Most often this happens due to an unstable financial situation, which can be caused by dismissal from a job, salary reduction, illness, etc.

If debts begin to exceed income, the question immediately arises of how to get out of the debt hole? Don't despair, there is always a way out.

In most cases, debt holes form completely unnoticed: a citizen takes out a large sum of money, which he clearly cannot repay, but at the same time he stubbornly believes that he can handle it and no problems will arise.

There are people who are simply accustomed to living on credit. Saving for them seems like a long and useless task, because money for the required needs can be obtained immediately, with the help of a loan.

We will consider the most common cases due to which a debt trap arises below.

Credit cards

Nowadays it is difficult to meet a person who does not own a credit card.

On the one hand, it is convenient to have such a card; you can use it to pay at any store, withdraw cash if necessary, etc. On the other hand, a credit card is an eternal debt hole that drags on more and more.

In most cases, the card limit for citizens is not too high - from 50-100 thousand rubles, so monthly payments are small. The card owner gets used to living “on credit” and does not notice how he spends more on the card than he deposits. Even after paying off the minimum monthly payment, you must remember that most of it goes to pay off interest and only a small share goes to the principal debt.

It turns out that a person puts money on the card, but the debt decreases very slowly and at the same time he continues to use it, which, on the contrary, increases debt obligations even more.

A large number of credits

The existence of several loans can be explained quite simply: a citizen took out one loan, could not repay it, took a second one to repay the first, etc. The result is a large debt pyramid, from which he is no longer able to get out.

Change in financial position

Delinquency on a loan can occur due to an accident, for example, the debtor is seriously ill, lost - in other words, his financial condition has deteriorated greatly.

In this case, interest on the loan will increase, fines and penalties will be added to them, the debt increases, but there is no way to repay it.

All of the above problems are quite complex, both materially and morally. But don’t despair, you can always find a way out, the main thing is to gather your strength and start solving your own problems.

Contacting the bank

The main thing you should not do when you are in debt is to hide from the bank. Such actions will lead to an even worse result.

Many banking institutions meet their clients halfway, offering various options for getting out of debt.

Debt restructuring

It is issued most often when the debtor loses a job, is reduced or becomes temporarily incapacitated. The debtor himself must declare the restructuring of the debt, since the provision of such a service is a right and not an obligation of the bank.

Therefore, banks themselves never offer to arrange a restructuring if they see that the debtor is unable to repay the loan. Documents confirming the difficult financial situation are attached to the application.

Credit holidays

Contacting the bank

The bank provides the debtor with a deferment in repaying the debt. Credit holiday options may vary:

complete exemption from loan repayments;
repayment of only the interest amount on the loan;
reduction in monthly payment.

All that is required of the debtor is to contact the bank with an application and evidence of actual financial problems.

Don’t be afraid to contact the bank if you have problems repaying your debt. The sooner the problem is resolved, the smaller the debt hole will be.

Tips for getting out of debt

The problem of debt obligations that have arisen must be resolved radically, using all possible legal means.

View from the outside. The first thing you need to do in the event of a debt trap is to look at the situation from the outside.

This is a very important point, since many subconsciously do not want to accept the problem, and for a long time put off looking for ways to resolve it.

You need to see what life turns into when you have a debt trap: a constant lack of money, stress, anxiety, calls from the bank, etc.

Living like this forever is not an option, so you need to pull yourself together and think through an action plan to get out of this situation.

Sending letters to the debtor with a request to repay the debt or to appear at the bank office to discuss the current situation.

Selling debt to a collection agency.

If the bank treats its debtors more loyally, then collectors sometimes use not the most legal methods of debt collection in their work.

If you receive threats from debt collectors or try to break into your home, you should immediately contact law enforcement for help.

Going to court. Only by going to court will the bank be able to recover from the debtor interest for the use of funds, the basis of the debt and accrued under the agreement.

If the debtor refuses to voluntarily repay the debt even after going to court, the bank will be issued a writ of execution, which is handed over to the bailiffs. Bailiffs are vested with a wide range of powers to collect debt.

For example, they can deduct part of the debt from wages every month, write off money from bank cards, seize personal belongings, place an encumbrance on them, etc.

Thus, the answer to the question of whether it is possible not to pay a loan obligation at all will always be negative.

It is better to make payments on time and remember that getting out of the debt trap is only the problem of the debtor himself. No one is obliged to help him with this, much less solve the problem for him.

Write your question in the form below

Ritual to help you get out of debt

To break this vicious circle and finally get out of debt, to get out of the debt hole, you need to perform a special ritual. It is held on a full moon.

To carry it out you will need:

White fabric
Four wax candles
Salt
A handful of coins
Green thread

Light four candles and place them on four inverted saucers. Place these saucers on the floor so that each of them is directed in a certain direction of the world. Stand in the center of this circle and clockwise, starting the eastern candle, closing your eyes, say:

“I will pay my debt to Fate - I cry to the East!”

“I paid everything to Fate, I paid to all sides of the world!”

After this, go to the window, take a knife and cut a piece of white fabric in half with it. Put salt in one half, a handful of coins in the other and tie both resulting bags with green thread. Hide them in the closet until the next full moon.

On the next full moon, exactly at midnight, take out the bags and take them to the road away from home. Find a beautiful tree and leave these bags near it.

When returning home, do not turn around, do not talk to anyone, do not give anything to anyone. Go to bed and before going to bed say: “Salt will take away all my troubles and return my debts.”

This concludes the ritual for getting rid of the debt trap. Now the Universe will help you, and all you have to do is act in the right and necessary direction.

According to Fatima, the most unpleasant thing is that debts can be contagious. Often, to get into this “quagmire” on an emotional and energetic level, it is enough to live with an inveterate debtor in the same house.

The most important thing is to remember that get out of debt and get out of the debt hole oh, how hard it is, so it’s better not to fall into it. May you always be surrounded by the favorable energy of wealth and success!

The most effective ways to get rid of debts forever.

The question of how to get out of debt remains relevant, especially in times of crisis. There are many reasons why you could end up in debt. And not all of them depend on your behavior. For example, unexpected dismissal, salary reduction, illness, death of a close relative. And the constant rise in prices for goods and services leads to the need for constant loans. What to do?

Let's look the enemy, that is, debts, in the face

As they say, the devil is not as scary as he is painted. Before you start distributing debts, you should clarify what, to whom and in what amount you owe. It is advisable to write down all the data about your loans and debts that you need to get rid of in the form of a table. It may contain, for example, the following columns:

Lender's name.
Basic loan amount.
Interest rate.
Amount of overpayment.
Monthly payment amount.
The period when the debt must be repaid (if a loan, then the date of the next payment and the total duration of the loan).
Notes

It is better to leave the last column wide, since in it you will mark all events related to the loan, for example, “Delay granted,” “Repay urgently,” or “Repay first.” It is most convenient to compile such a table first on paper and then transfer it to Excel.

Next, you need to analyze the work performed. In principle, when you organize your debts, it will become clear exactly how much you pay per month and how long this situation will continue. You will also see the most expensive loans (with a high interest rate) and loans with the largest overpayment (their rate may be lower, but due to the long loan period the overpayment will be greater). We’ll talk about what strategy to repay loans later.

We create a payment calendar

The next step is to create a payment calendar. You can mark payment dates on any wall calendar or draw a special sign. The latter is convenient, since in addition to loans, you can enter into the table any other obligatory expenses - rent, for example, as well as income - salary, advance payment, etc.

As a result, you will see on which days you have income, on which mandatory payments, how they are grouped, and whether you have enough funds to pay off many payments in one week. Now you can plan. For example, salaries are calculated at the beginning of the month, while loans are paid in the middle and at the end. You will be able to set aside the required amount in advance.

It is especially convenient to use the sign when you have many payments. Then you will definitely not get confused and will not miss the date of the next payment due to forgetfulness.

We deal with current debts

If, in terms of loans, the situation is so deplorable that, and the amount of fines has long exceeded the payment itself, collectors are spending the night at your entrance, and relatives refuse to let you in for dinner until you pay off the debt, then you should figure out the situation, how to get out of debt with minimal losses.

The best solution would be to openly admit your financial insolvency and negotiate with creditors. If you borrowed from friends and relatives, you can agree to write off interest and pay in installments. If there are a lot of loans, you can ask banks for a deferment or refinance.

But you shouldn’t relax as soon as the credit ties loosen a little. This is not the time to waste money. The freed funds should be used for early repayment of debts. For example, you have three loans of 10, 5 and 4 thousand rubles, and your net income (i.e. free money) is 17 thousand. You agreed to defer the second loan of 5 thousand rubles for a period of six months. Your payment became not 19, but 14 thousand rubles. The freed 3 thousand should be used for early repayment of one of the loans or put aside in a special account to form a financial cushion. But you can't spend them.

If your debt is sold to collectors or banks have assessed too many fines, then it is better not to pay on these loans for now, but to go to court. Usually judges “write off” all sorts of penalties, especially if they are not provided for in the contract. It is often possible to reduce the monthly payment to a minimum by lowering the interest rate or increasing the loan term.

We carry out refinancing

If there are a lot of payments and the interest on them is high enough, then it is necessary. There are several ways to do this:

take part in a special program of the creditor bank;
take part in a third-party bank’s refinancing program;
take out a loan on your own at a lower interest rate and pay off current debts with the funds received.

Since the borrower himself is unlikely to be given a new loan with current debts, a new one is usually issued in the name of relatives or a friend. You should calculate the benefits - independent refinancing is beneficial if the total loan term does not increase, and the new rate will be more than 3 points lower than the current one. In other words, if a loan is taken out for 5 years at 33% per annum, and refinancing is carried out the next year, then its parameters should be as follows: term - no more than 4 years, rate - no more than 30% per annum. Otherwise you will have to pay interest again.

Of course, if the situation is critical and the monthly payments are too high, then any way to reduce the financial burden is suitable. To the point of asking the bank to increase the loan term - the total overpayment will increase, but the monthly payment will decrease.

By the way, during refinancing you can try to postpone the payment date. It is more convenient to pay off all loans in one day and try to receive income just in time.

It is optimal to refinance using a special program. Then it will be possible, and the overpayment will be minimal. It is much easier to get approval for a transaction from “your” bank.

We draw up a loan repayment plan

The next step is to decide on a debt repayment strategy. The most optimal would be the following three schemes:

The largest loan is repaid first, then the second largest, then the third, etc. The good thing about this method is that the monthly payments are reduced and free money is released. Disadvantage: you will have to wait quite a long time until the first loan is paid off.

Small debts are paid off first, then - the largest. The good thing about this method is that it is easier to “close” small loans, and the borrower himself has a growing sense of satisfaction from the reduction in the number of payments. Disadvantage: the final overpayment will be higher.

The most expensive loans are repaid first(i.e. with the highest interest rate) regardless of their size. This method is the most optimal, based on cost savings. Disadvantage: The most expensive loan may also be the largest, and the monthly payments will not decrease quickly enough.

All loans are repaid evenly. For example, 1-2 thousand are paid monthly in excess of the payment amount. Advantages: systematic reduction of payments. Disadvantage: each time you will have to make an early repayment and overpay on possible commissions.

Which method is more convenient is at the discretion of the borrower. The main thing is to develop a convenient strategy and not deviate from it.

Let's stop increasing debt

Taking out a loan to pay off another loan is a bad practice (unless, of course, refinancing is done). Therefore, you need to immediately refuse loans and credit cards. If you have credit card debts, they need to be repaid first, regardless of the size of other loans. The cards have the most unfavorable tariffs, and the overpayment on them is simply huge. It is better to get rid of debts to the bank immediately.

Of course, we need to stop paying in stores with credit cards. Only or, at worst, cash.

We cut costs

If you decide to get out of debt, you will have to learn to save. Here are some ideas on how you can save money:

Disable all unnecessary payments. For example, if you don’t listen to the radio, then dismantle the radio station. Don't pay for cable if you turn on the TV once a month. Turn off mobile banking if you receive a salary once a month - you will still perform all transactions via the Internet.

Change your tariffs to more favorable ones. Take the time to find out if there may be better tariffs for telephone, Internet and cable. Sometimes you can take part in special programs for the holidays.

Make a list of mandatory monthly expenses(everything, right down to the rent and payment for a child’s kindergarten) and think about where you can save money. For example, if you fill up for 2,000 rubles a month, wouldn’t it be more profitable to buy a transport card for 500 rubles and use the bus? Maybe not as convenient, but cheaper. Or try to transfer your child from a paid section to a free one, if the quality of his education does not suffer.

Save water and electricity, no matter how trivial it may sound. Turn off unnecessary lights and electrical appliances, and turn off the water when brushing your teeth. Of course, you won’t save significant money, but even 500 rubles a month won’t be superfluous - you’ll find something to spend it on. If possible, switch to a two-tariff meter and make household appliances work at night - for example, a washing machine.

Refrain from unnecessary purchases. Go to the store only with a list of products - this will protect you from accidental purchases. Plan right away what you will cook during the week. It is optimal to generally allocate a weekly budget “for food” and not exceed it.

Love the sales. This applies to the purchase of food, clothing, and household goods. Buy more than you need at once so that you don’t overpay next time. But don't go over budget!

Get a card with cash back and interest on the balance. Make purchases only from it. This will contribute a pretty penny to the family budget.

An effective way to get out of debt is to increase your income.

If saving does not provide a significant profit, then only an increase in income will help you get out of debt. The main methods are:

Demand a salary increase. Going directly to your boss and asking for a raise is unlikely to work. But you can take on additional hours, increase the workload, and perform more functions. As a last resort, you can settle for 1.5 rates.

Find a part-time job. This could be a second part-time or night shift job. You can also work on weekends.

If the above methods are difficult or unrealistic, then take up freelancing. There is quite a lot of work on the Internet for all specialties. The services of remote text authors (copywriters), artists and designers, programmers, and accountants are in particular demand. If you don’t have the ability for such activities, then you can find physical work for yourself: “husband for an hour,” taxi driver, repair, etc. - there are special exchanges where such services are offered.

Invest. Of course, it takes money to generate income from investments. And if there are a lot of debts, then there is no free money. However, you can start small. For example, put aside 2-3 thousand monthly for a deposit, and 1-2 thousand in risk capital. It is important for you to learn the principles of investing, not just how to make money.

Open your own mini-business. It could be anything - a website on the Internet, an online store based on a group on a social network, referral business, network marketing, baking cakes at home, sewing, burning... The main thing here is to start and survive the first year.

Sell extra items. Do you have old coins? What about the stamp collection? Decorations? Maybe you have a whole bunch of clothes you don't wear or books you don't read? Try selling it through local newspapers or websites like Avito. Do not waste the funds received, but pay off your loans ahead of schedule.

Hint to friends and relatives what the best gift is- this is money, and that you will be more happy with cash receipts than with things.

File tax deductions. If you take out a mortgage, then apply for a property deduction or a deduction for interest on the loan. In fact, you will get back 13% of last year’s total income - namely, the personal income tax paid to the treasury. This is a lot. With a salary of 20 thousand rubles, this is approximately 35 thousand rubles.

4.6 / 5 ( 5 votes)