2015 was marked by instability in the economy. According to the National Confederation of Trade in Goods, Services and Tourism (CNC), the number of delinquents in Brazil rose during this period, reaching 20.4% of the population. That is, more than one million families closed the year with arrears.
But contrary to what many people think, this is not the end of the world. In such a scenario, banks and stores are more likely to renegotiate debts and resolve the delinquent situation. With that in mind, we’ve worked out a step-by-step guide on how to negotiate debts and help you get out of the red for good!
Identify the best time to request a negotiation
The timing of requesting the negotiation will depend on the type of debt. For longer-term debts, such as car loans, at a rate of 1.2% per month, institutions generally starting to charge, in addition to the normal rate, interest on late payments from the third month. It’s late. This is when the negotiation should be requested before it increases.
For credit card debts, where interest amounts to about 10.5% per month, the request should be made when the consumer sees that they will be able to pay your card bill, eliminating the risk of future interest charges and preventing you from becoming a snowball.
Calculate the total amount of debt and how much you can afford
Before negotiating a debt, it is important to calculate two things: the amount of income we have to pay it monthly and the total amount we owe.
For this, a careful evaluation of the expenses must be made, seeking to see those superfluous costs that can be totally cut and which can be reduced. One way to make this easier is to use financial planning software.
With the amount we have monthly to pay the debt in mind and the total amount due, we can calculate how many months we can get rid of and get to the bank with a definite proposal.
Research the conditions and negotiate
Debts may be carried from one bank to another; Therefore, research interest, terms, and benefits from other institutions first to argue with your lender if the rates offered by your lender are higher than the market average.
When the time comes to negotiate, make sure that the terms offered are really attractive and do not sign any contracts before reviewing the terms described to see if there are no irregularities, such as charging. that of extra fees prohibited by law. If so, you should report the creditor to the governing bodies, such as the Purerich Bank.
Join the deal actively
Suggest solutions during the conversation and do not be intimidated. The ideal is not to accept any proposal right away in the heat of the moment. Take time to think and take the conditions home, where you can evaluate everything more calmly and carefully.
Some banks offer the option of negotiating debt online, but it is recommended that trading be done in person. Also avoid the help of intermediaries, who may charge a consulting fee.
By following the steps above, you can get out of the red without getting in more trouble and ensuring financial stability! Then remember to keep using a financial control program that helps you avoid falling into the hole again.
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