Three people told us about their debts and how they dealt with them

Three people told us about their debts and how they dealt with them

Debt is not the end of the world-and we will find evidence of this in the testimonies of three of our interlocutors. Nicole, Rick and Charlie were in debt and went (or go) straight. In this text we will describe their stories.
“I couldn’t control the budget”

When asked why he got into debt, Michael answered briefly and with a smile: – Because I have a credit rating and I can get payday loan! I am from White Rock, South Carolina and when I moved to the capital I had more and more expenses related to the new residence. At the same time, I couldn’t limit spending on entertainment, travel, or “luxuries.” I didn’t want to ask anyone for help, so I started taking out loans.

Michael first took things in installments, and then cash loans. And, as he admits, they ruined him most of all: – at some point it turned out that I take a cash loan, which will repay the previous loan in cash. I had no control over my budget and fell into a credit trap. Debt grew and grew, and I took out loans for almost everything, more and more plunging.

At some point, the debt of Michael already amounted to several thousands of dollars.

– And one day.”.. it just ended – ” our interlocutor recalls. – I had to find a solution, because notifications about the need for repayment came, and my rating in the BIC was getting worse and worse. More and more it depressed me.
Pinned to the wall

What was Michael’s decision? First of all, he decided to consolidate, that is, combine several debts into one. Monthly contributions were less, but it only helped temporarily. Thus, Michael began to look for additional means of livelihood.

– I got a second job. So I had an extra shot of cash. Also, I asked for debt restructuring to avoid reminders. As soon as I could-I repaid the loans early, in full, to reduce the number of payments. True, I worked very hard at the time, but thanks to this I could afford to pay the debt without giving up the pleasure to the end.

What did this whole situation teach Michael?
What did this whole situation teach Michael?

Well, Michael-pressed against the wall – with more confidence began to fight for promotion in one of his works, thereby increasing its solvency.
“Parties have to be paid, don’t even know what”

However, it is not only high debts that can cause problems. Some greatly complicate life and smaller amounts. It’s about Nicole and Charlie.

Nicole inherited her debt-owed to organize the funeral of a loved one. The debt was big, but so did that every dollar should be intended to cover the debt. “Every pleasure or extra expense had to be rethought a hundred times and then redeemed,” he recalls.

How does Nicole cope with such debts? – Very accurately plan in advance budget on the entire month. Loan installments are programmed more or less, since the rent has to be paid, do not even know what.
“It dawned on me that what will be needed is to convert”

In turn, Charlie fell into debt… with inattention. – I didn’t even notice when it happened.” I was in College at the time, and the son is a householder of parents. Sometimes I did odd jobs, but I was always inclined to spend money.

It all started when a family member asked Charlie to keep the money in her account.

“He wanted to surprise his wife, and they had the same bill-the translators were in debt. ” I got so used to this increased bill that gradually, month after month, I started to tear up the budget and allow myself more and more. Eventually, I realized I’d have to give it back. In this moment was well $3,500.

How did Charlie start struggling with debt? Sparing: – I rarely went out with friends, rarely ate in the city, I had to abandon the planned trip abroad. When I needed to pay back money that I didn’t have, I got into a series of small debts that, true, were on time, but didn’t feel good with the fact of borrowing them.

Charlie managed to reach zero in six months-a little diligence, but mainly due to the fact that she was able to find a job and start earning more. “If it wasn’t for that, I’d probably be looking for more orders,” he says.

The vicious circle of debt

Debt – even a small one-can be life’s discomfort. Therefore, if we find ourselves in such a situation, we must take certain measures aimed at overcoming the debt burden.…

I don’t have a job – can I get a loan?

Looking at the financial market in USA, we can safely conclude that the average pole has many opportunities to take an attractive loan. In USA, there are many banks and lenders offering various loans, and for people who do not have the opportunity to borrow in a traditional Bank, such offers have non-Bank institutions. These institutions, although there are offers of similar loans in traditional banks have slightly different conditions for granting loans themselves, so that the loan can count, for example, a person without documented income.

What about banks?

Banks, which in the market more offer various forms of loans – from classic consumer for any purpose, through loans, consolidation or mortgage. A Bank loan request should, however, have documented income, which is the basis for calculating creditworthiness (see also article: credit without credit rating), and therefore affects the size of the loan granted. This is one of the main conditions for granting a Bank loan, that people without officially confirmed income – that is, unemployed or working in the” gray ” zone – can not count on the loan.
Alternative for banks
Alternative for banks
The offer that typical non-Bank institutions have looks a bit different. Known as a” service ” having quite different reviews, however, have your own circle of customers. What is the difference between the offer of popular “moments” from the offer of banks and why this type of financial support is ideal for people without employment? First of all, non-Bank institutions have a more preferential, flexible offer that is more suitable for customers and their individual needs. Although some of these institutions take into account income and credit history, this is not the only condition for granting credit, so the unemployed have the opportunity to positively consider their application.
What should you pay attention to?

Non-Bank institutions do not have different opinions about their activities for nothing. There are many companies of this nature on the Polish market, and most of them have many years of experience in the industry, but not all of these institutions have equally attractive and transparent lending conditions, and in many cases non-Bank institutions are the only form of financial support for borrowers. Putting so use offers loan offices, you should look carefully at the proposed offer them, and then compare them with competitors and choose the option best suited for yourself.
What about the unemployed?

Unemployed persons seeking credit are rather not likely to have a positive application reviewed by a regular Bank. However, it often happens that persons deprived of a permanent source of income are forced to avail themselves of financial assistance. In such a situation, one should be calm and careful to compare and select the offers of non-Bank institutions and choose the most profitable for oneself. This way, the average blacksmith will find a safe, preferential loan offer just for himself.…

About payday loans online programs

In more and more stores you can meet all sorts of loyalty programs. Merchants encourage the creation of cards that will lead to bonuses in the future. Whether you’re at a gas station or a grocery store, you can find such deals everywhere. The question is whether to use them?

When joining any loyalty program, You must first provide your details. In some places it’s just a name and email address, in others it’s also a phone number and a place of residence. In this regard, it is necessary to understand that such data can be used, which for some people can be a problem.
and exchange for points for purchases
Especially since most often you have to agree to their processing and marketing use to participate in the program. On the other hand, often incoming emails will remind you of the latest promotions that may interest you. Unfortunately, loyalty programs have their dark sides, as well as at least Bank loans.

Many people are lured by the vision of getting huge discounts or rewards in exchange for points for purchases. It turns out that obtaining such bonuses is often simply impossible in the world. However, for business it is the situation as the most profitable. Thus, they acquire regular customers who constantly return to them, because there is still a vision of a fantastic reward on the horizon.…

A loan for an apartment with own contribution

The best loan options you can get to renovate your houseEarning the lowest or even the national average, it’s still hard to set aside money to fully Fund the purchase of your dream home. Then for many people the only salvation is a mortgage, preferably with its own contribution. Why is it profitable to take a loan? Because regardless of the situation you need somewhere to live. Renting an apartment, you have to pay the owner for the rent.And you never know when you will have to move out of this place. Instead, you can buy an apartment, and instead of paying for the rent, pay a fee for the loan. Taking a mortgage with a large own contribution, very often you can get the best offer from the Bank. The higher the first Deposit, the lower the risk for the banking institution, and for the borrower, the total cost of the loan. In such a situation, pay for the loan may be lower or take a loan for 20 years instead of 30. It is best to prepare for the start of about 20% of the value of the investment.

Keep in mind that a loan is always a long-term solution. It is necessary to have a permanent income that will be able to cover the monthly installments on the loan. Banks often also require additional security in the form of real estate insurance, and even life insurance, which cover the amount of the loan for the apartment in crisis situations. Unfortunately, these supplements produce subsequent costs.…