Many people who took advantage of the offers of loan companies had at least once a problem with timely repayment of their debt. Financial problems mean that some people start acting on impulse without carefully thinking about their actions. However, it turns out that only clients who remain reasonable and calm can cope with debts. Disregarding the problems or recognizing that they do not have them is the worst path that the borrower can take. The case will not resolve itself and, in addition, disregarding it may cause further problems.
React before it’s too late
Problems with repayment of liabilities usually do not appear overnight. We are often aware earlier that our financial capabilities will not allow us to repay the next installment of the liability.
If we are worried that the repayment of the loan will cause problems, we should report to the loan company as soon as possible with a request to change the repayment schedule or postpone the repayment date. Admittedly, this usually involves additional costs, but compared to the growing interest for late payment of liabilities and the vision of the bailiff at the nape of the neck, these are small amounts.
Don’t underestimate the problem, don’t pretend it’s not there
If we react too late, we probably won’t be able to take advantage of changing the repayment schedule or postponing the payment date. After all, the worst mistake we can make in this situation is to disregard the problem and pretend that nothing is happening. Ignoring the next request for payment may result in a bailiff knocking on our door. Charging with subsequent costs, seizing the account, lack of livelihood … Admit for yourself that the vision of such a turn of events does not sound encouraging.
Loan companies begin the process of collecting debt by sending reminders to the debtor in the form of reminders. This is an additional cost for the borrower, which increases the total debt. The customer then receives a pre-trial payment request. If the debtor repays his liability at this time, he can count on avoiding further consequences. Otherwise, he must take into account the visit of the debt collector or bailiff. As a last resort, the case will go to court.
Interest on unpaid loans may be up to four times the NBP lombard rate. Debt can therefore grow at an alarming rate.