It’s time to say goodbye to debts! Or at least that is what the new measure launched by the Financial Superintendence expects, whereby those who are in arrears for up to 90 days may renegotiate the credit conditions with the bank.
If you are one of those who requested a loan and after a few months
Your economic situation changed and it became very difficult to continue paying the debt, this measure will benefit you, as it will allow you to rearrange your payments and adapt them to your new lifestyle. If you have never renegotiated a debt before, do not worry, take these points into account and keep your financial health in good condition:
1. Reorganize your budget
To renegotiate, you need to take into account the amount of income you receive and how much money you have left after you cancel your main obligations. Paying credits is also one of your responsibilities, so if you need to reduce the amount you spend on entertainment and other tastes, it is advisable to do so in order to increase your ability to pay.
2. Take into account the unforeseen
Not every month will be free of emergencies, so it is ideal to have a “mattress” that allows you to face them without affecting new credit payments.
3. Select an intermediate term
Once you have an idea of the average that you could pay monthly, see what the term options are. When choosing, keep in mind that if you opt for the longest term available, while fees are greatly reduced, interest increases. It is better to opt for an intermediate number, which does not represent higher costs, but does not threaten your budget.
Under these conditions, avoiding arrears will be much easier, allowing you to take care of your financial history.
Are you looking for a loan?
Before applying, you can also take these factors into account to establish a healthy payment amount and term for your finances. If you are looking for options, use the Macbeth free investment loan comparator, and choose the entity that best suits your profile and with the best benefits.