There are situations that go beyond everyday life and that manage to impact people’s finances and their obligations with the credits acquired. The use of loans and credit cards allows for greater flexibility in everyday expenses, however, there are times when the economic situation overwhelms people and causes them to stop fulfilling their obligations in a timely manner. Missing payment dates will cause debts to grow considerably, but this does not mean that there is no way out of the situation.
On the one hand, you can request a rdebt structuring. This option must be requested with the financial institutions with which service procedures were opened. The idea is that the interests are restructured or the payment dates are changed to avoid the growth of the debt to unpayable instances. It requires the ability to negotiate and explain the situation to the appropriate institution.
Lee: The peso is restored after several blows of the dollar
However, under that idea, you will still have to pay each of the acquired debts that you have, with variable interest percentages and, surely, different payment dates.
The debt consolidation tand allows to do a single payment to a single institution. For this You should go to a bank that offers this type of services. This institution will be in charge of negotiate and pay all your debts and will only charge you in a fixed amount and date. However, this is not so simple, since there are some considerations that the National Commission for the Protection and Defense of Users of Financial Services (Condusef) to take into account:
- Make sure the quoted interest rate is lower than those of your separate debts. This step is vital so that you can breathe calmly.
- Remember that the Shorter payments will mean longer terms to liquidate it.
- Request that it is possible to advance payments.
- Study your finances and identifies the minimum and maximum amount that you can set aside to pay debts.
- Be careful, check the credentials of the institution that offers you these services.
You may be interested in: They ask not to panic when faced with a SAT requirement
* * * Stay up to date with the news, join our Whatsapp channel * * *
OB