Now, friends, I will touch upon such an exciting topic as debt relief. I mean both debts taken from friends, acquaintances, relatives and bank loans of all kinds.
The question of getting rid of debts is relevant for most of us. Only a few of us have such valuable financial freedom and are not burdened with any debts. These lucky people may not be able to read this material, but I would advise everyone to read it. It will come in handy in life.
So, since it so happens that we have a monetary debt on our necks, it would be nice to throw it off the hook, because we are some kind of horse to pull weight on ourselves. And debts, my friends, are one of the heaviest and most difficult to carry. Especially morally, it's the realization that you MUST.
Therefore, we urgently need to free ourselves and our souls from these torments.
How can we do that, you ask? Well, there are several ways to do that.
Let's start with those that are absolutely impossible to apply and absolutely contraindicated for your financial health.
Way 1: Borrow money to pay off old debts. Take a loan from a bank to repay the loan from another bank.
Remember once and for all! NEVER DO THIS! Don't even think! This is a debt hole from which you will NEVER get out. Especially when it comes to bank loans. Don't use this method even if you're afraid of dying or something like that. You will never get out of such a hole and out of such a life in the style of "I will intercept there". Then you are doomed to a miserable existence in order to pay off all your debts. Convinced? I hope so.
Way 2. Having taken a debt to make a decision not to pay it back.
This way you will get rid of the debt, but remember your creditors. If they are friends and acquaintances or relatives, who are you after that? What is the name of the person who is throwing away people close to you? Think of a name for it yourself. What if your creditor is a bank? The bank won't run after you itself. Your debt will be transferred to a collection company (for those who do not know, a collection company - an organization that deals with the repayment of debts. They have a lot of ways, from legal to completely illegal). And these guys won't bump with you. In general, get yourself a lot of problems, spoil a lot of nerves, and still return the money. That's how it is.
So I do not advise anyone to humor and twist. Since we borrowed, be kind and roll up your sleeves and give them back. This approach will give you invaluable benefit and will teach you a lesson that you will learn for life.
Let's see how we can get rid of our debts so to speak "legally". And it's very simple - you just need to Give up the debt. That's all. And how can we do that?
There is a small, but simple and affordable method for fast debt recovery.
I just warn at once that it will not happen in one day or week. You need to work, but it will be very useful for you. So:
1. You need to know exactly the amount you have to. If it is a bank loan, find out how interest is calculated and how much you will owe tomorrow, the day after tomorrow.
The idea is that you should know the amount you owe at any given time. This is quite important because when you have a specific amount of debt in your head, it is psychologically easier for you to adjust to the fact that it should be paid back than when you think - oh, I have to do so much that I even think scared! This approach will not help you to get rid of debts soon. Read more about the psychological background of debt here and here.
2. You should know exactly the amount of your income per month and, most importantly, the amount of income per month. This is VERY IMPORTANT. Much depends on the number of expenses in the speed of getting rid of debts. These amounts you should know for sure, not approximately as many people think - like, month after month, in different ways. No, you should know these amounts clearly. How to do this read here about income, and about expenses you can read here and here.
3. You should spend less than you earn and save the difference. You should start saving as much as you can. At most, in short. And all of this should be used to repay your debt or debts. How do I determine the maximum? How to save correctly, read here.
Tip: Don't be lazy and save the maximum that is acceptable to you. Nobody makes you live in hunger, etc., but remember that debts, especially bank loans, are holes in your financial budget that you could spend on yourself. So it is in your interest to get rid of them as soon as possible. Read this article and once again I advise you to read it to raise your morale, so to speak.
That's the whole recipe. Tell me, what is easy? Tell me that you know all this? And then you take it and do it. All of the above is the author's personal experience, bitter, difficult, but very valuable. And most importantly, all of the above gives a real result, tested.