Everyone somehow owns bank debt and credit debt, be it credit limit, overdraft, credit cards, loans or asset financing. The big problem is how much debt is too much, what to do, how to pay off debt? We can conclude that debts and credit are part of the daily life of any economically active citizen. Credit is great tool for conquering, acquiring and accumulating goods without good use.
When used smartly, credit can help people improve their quality of life, help them get better deals, be better served, buy real estate and cars with different conditions, and even get better jobs.
And the other side of the credit currency? Everything happens to the contrary of what we have said until now, credit and debt can make the life of a citizen a true martyrdom if misused. In Brazil, Brazilians have never gotten into so much debt as now, this situation has led many to despair and bitterness. Of course, to all bitterness and despair there is a softening remedy, and whoever is stuck in debt, one must do a deeper and more serious analysis of the financial situation in the global sphere of finance.
As incredible as most people today seem to be, they know exactly when their debts were becoming a rocky field or a bottomless sandbank? On credit card for example, there are a vast amount of red flags signaling credit problems, getting involved in revolving credit because you can not pay the full bill, is one of them.
Months like January the credit card balance is on the rise due to many purchases from the previous month, December, is that your case? If your income does not support the invoice amount, it is more than certain that the minimum payment or only part of the invoice payment is made by generating interest on interest.
Debts Acquiring New Debts
Whoever pays debts acquiring new debts is also entering the sea, it is more than a sign that things are not going well. If you have exceeded the credit limit, you have consumed all credit on the card, and your balances are negative, so you have many problems.
Even if you can not afford simpler debts, believe me, it’s time to get expert help. Many factors can help to increase debt, one of them is the drop in income? Unintentionally losing your job can also be very damaging to your finances. Do you need to work more hours on the job or are you making extras out to pay off credit or expenses? It gets worse when purchases and expenses are hidden from the spouse, are you doing this?
Ask yourself – are my debts under control? Am I able to pay my debts ? Are my debts reaching above acceptable levels? If your debts are at a very dangerous level, follow the tip, do not wait until things get unbearable, it is important to seek professional help as soon as possible, in debt renegotiation campaigns Serasa Experian, SPC Brazil and much public and private agencies offer free financial and pisological advice, just do a little research on Google.