Having the dirty name on the market is one of the biggest headaches a consumer has. This restriction prevents the performance of various activities that are part of everyday life, such as buying a home appliance through credit, applying for a mortgage, renting a property or applying for a card. credit.
The good news is that clearing your name is possible. You just have to be determined to negotiate your debts and, especially, not make new debts. Here’s how to negotiate questions and not get the dirty name:
Set up a proposal to negotiate debts
Even before negotiating debts it is important to set up a payment proposal that is appropriate for your reality. For this, it is important to list all your debts, with the respective creditors and values. Start with the ones that charge the highest interest, such as credit card revolving and overdraft.
When setting up a proposal it is important to take into consideration also the amount you currently pay interest on each debt you have. This data is essential for you to decide why the negotiation should begin. Your monthly income, as well as the money you have available to get into the discharge process, are also factors that should be considered when setting up the proposal.
Talk to the lender
Contacting and talking with the lender is the next step to negotiate debts and clear your name. Although some financial institutions already offer online debt renegotiation, it is best to contact creditors in person. This is because internet proposals tend to be standardized. What works for a customer may not be the best option for you.
As much as you want to clear your name or not get it dirty it is important not to be intimidated during the conversation with the lender. Do not accept, for example, having to hire services to renegotiate the debt. It is important to be firm, to show that you are willing to settle the issue in terms that are appropriate for both parties.
Opt for a deal you can afford
After talking with the lender, the next step in negotiating is to review the terms of the agreement and opt for a negotiation that you can actually afford. See if the proposal has values that are too high and only lengthen your debt by dividing the debt into several installments. Keep in mind that the more installments you have to pay, the higher the interest.
Ask what is the interest rate charged to make sure it is not above the market average. Always try to pay the debt as quickly as possible, according to your possibilities and with a portion value that really fits in your pocket. If you have any money saved, check the possibility of making an entry that will be written off in the total amount of the debt.
Go to a bargaining party
Even if you are seeking an agreement with the financial institution, it is important to also make sure that negotiating fairs are planned in your city and if your creditors will be present. In general, the conditions that are offered in this type of event, which has no specific date to happen, are better than those of the individual agreements. This is one way the bank has to make sure it can receive volume payments, as so many people are looking to pay off their debts and clear their names in these markets.
It’s important after negotiating debts and not messing up your name, creating a one-time buy-in habit, and, most importantly, controlling spending and keeping your financial life on track. If you need help, count on GuideBayment to organize your finances.