Getting paid at the end of the month and still having a little money left in the wallet has become a challenge for most people these days. Faced with the financial instability that affects every country, it is natural to face moments of difficulty, starting with the accumulation of accounts. In addition, without proper care, financial problems can worsen, leaving defaulters with new alternatives to get out of the red, such as negotiating debts.
There are several factors that contribute to indebtedness, including unemployment and lack of control at the time of purchase, but there are also different ways to organize financial life and get out of debt through agreements that offer reduced interest, installments, discounts, among other negotiations.
Despite your efforts to keep the accounts up to date, is your name still dirty and your bank balance negative? So, for you to get back to quiet nights without worrying about your financial situation, check out some tips on how to negotiate debts!
Analyze your financial situation
Before you look for bank management, put the true financial position of your budget on paper. Remember to calculate your income, as well as the priority expenses such as health, food and housing. After doing these calculations, you will have the actual value that can be used in the tranches of the negotiation. This will make it easier to pay off the monthly installments.
Also evaluate how much you are paying interest. If you’re wrapped up in expensive credits, such as overdraft and credit card, it’s worth getting a low interest rate loan like Just.
Evaluate the conditions of the contract
Signing the negotiation agreement may seem like the end of the problems, however, before signing the agreement, you must pay attention to all clauses presented. This evaluation is important because the document may contain irregularities or information that have gone unnoticed, such as high interest rates. In this case, make sure that everything that has been talked about is registered and, in cases of additional charges, go to the Consumer Protection Bodies.
See how to trade debts in other banks
Your bank will not always offer the best payment terms, so doing market research, evaluating proposals from other institutions, can help in deciding the best investment. In general, banks are competing against each other and thus work at differentiated rates that even allow the debt to be exported if necessary.
Check the term proposed by the bank
Most of the time, lenders offer the negotiation through a larger installment. However, although the value of the parcels is smaller, depending on the stipulated amount, interest can greatly increase the total amount of the debt. It is important to calculate this value, remembering that with less installments, the debt can be paid off faster. Also, make sure the interest rate is compatible with the market average.
Attention when contacting the bank
Currently, it is possible to do debt negotiation through the internet itself. However, despite the ease, the online solutions are standardized and do not offer the best proposal according to the need of the debtor. In other cases, negotiation by telephone also requires greater care, especially when storing the protocol number.
Therefore, trading in person has been the best alternative. Talking directly with your manager, it will be possible to expose the financial reality through documents, such as statements, proof of income etc., guaranteeing more chances of achieving a proportional discount.
If the agreement is denied, seek help
If, despite your efforts to negotiate your debts, you have not been able to reach an agreement, look for Procon or the Brazilian Federation of Banks (Febraban). These agencies serve many people who are indebted or already defaulted and can help you find the solution to your case.
Did you write down all the tips on how to negotiate debts? So if you have any questions, just leave your comment so we can continue to help you keep your finances up to date!