How to recover “credit” say goodbye to bad debts?
- “Stick to a credit bureau” or “stick to blacklist”, a familiar word that is often heard for financial transactions with financial institutions Especially in terms of credit In fact, these two words are different. Which many people still misunderstand
- Credit Bureau is the only company that collects information about requests and payments for loans. Whether it is a good or bad payment Did not arrange or store blacklist information in any way
- “The four feet are still missing. The wise man also knows. “Salary man would be wrong. But every problem has always a solution for fixing and rebuilding good credit
Phi Thui believes that sticking to “credit” or “sticking blacklist” is often the word we hear often. That is one of the main reasons for being denied credit Whether it is a loan, buying a house, buying a car or not approving a credit card An explanation over at http://lamassanacomic.com
For the salaryman, getting credit or financial products such as “credit cards” is a good help in managing money. But if we have a bad financial history Who will dare to lend us money? Thus the ability or opportunity to receive benefits in this part will be reduced But Tui thinks that there are still many people who are still misunderstood about the word “Stick to the credit bureau” or “stick to the list”
And what is the “credit” bureau ?
Credit Bureau is a company that collects credit information from many financial institutions that are members. As simple as “Basket collecting credit information or payment history of individuals and juristic persons” by showing a list of all payment history which may be both good and bad. In fact, the credit bureaus do not have the word “blacklist” or “blacklist”, but only the payment history. And even if the debt has been closed But the outstanding information will remain for 3 years or 36 months.
Oops! Blacklist, then what is it?
Actually, Tui would like to say that sticking “Blacklist” is a long history of unpaid persons. And cannot pay as scheduled and released as bad debt Including those who do not pay debts and are sued by the financial institution When there is a history of continuous payment Would show the status of the risk that the debt will be bad debt Because overdue contact for too long shows no responsibility and reflects financial problems And of course, the power to make direct lending decisions is “financial institutions” depending on the terms and conditions of that financial institution.
For Thui himself, and of course, people need to have a beautiful financial history. But one day we missed So what do we do? In order to solve and create our new financial history And which today, Thui hyung has a way to tell To salvage credit and be able to make financial transactions with financial institutions
Method 1 is to pay all outstanding debt before
First, Thui suggested that we have to pay all outstanding debt Pay all debts back to normal. (There is no outstanding balance) may be required to use a lump sum, such as bonus money, accumulation funds, or may need to sell assets to use the money to close the debt. But what Thui would like to warn is that he should not do the most. Borrowing a new debt to pay or to pay off the old debt This will not end the debt.
If for anyone with multiple debts Or owe many credit cards, “Payment plan”, Tui hyung is an important thing to do Because the debt must be assessed to see how each debt looks like What should I pay first? What should I pay later? Any debt with high interest or compound interest, compounding Should increase the payment amount in each period to make the debt run out faster
Method 2 is to adjust the repayment structure. (Compromise)
But if you feel that you can’t pay all The next method, Thui, suggested to adjust the debt repayment structure or make a compromise. Which is to talk to clarify the reasons and problems to the financial institution or creditor directly This way, Thui hyung thinks it is another option to help solve the problem well. There are many forms of negotiation for waiver. Which may be a request to reduce some debt amount Requesting a normal rate of interest when there is no default Requesting a penalty payment reduction, default payment or various fees Or will be requested to increase the repayment period. For example, when we are unable to pay the debt as scheduled and after entering into a negotiation with the creditor And have made an agreement to extend the installment period for another 5 years or 10 years, including a plan for the exact payment Which the longer time also reduces the amount of installment payment per installment Which we do like Thui Pi that will help reduce the pressure of payment In addition, it also represents a good intention in our intentions and efforts to pay off debt.
And we have to create a new good financial discipline when the outstanding debt is already paid By paying the debt on schedule, not guilty to pay the debt again To create a new payment history data that will be collected and recorded in the credit bureau Because of unpaid contact that reflects responsibility and shows that we have no financial problems Causing financial institutions that we have good payment ability Which will be beneficial for applying for a loan in the future
Thui Pee has more suggestions. Is a good practice to prevent the risk of bad debt Or is the cause of having a bad financial history Phi Thui said that the first thing is Be careful when creating debt. Don’t make unnecessary debt and create a debt to spend extravagantly. Especially credit card debt that is so easy to swipe In addition, must know the meanings Must consider the income and expenses in each month in order to avoid excessive debt and interest expenses per month Until the income is not enough to cover the expenses that are necessary in daily life and debt, then will find that Phi Thui is not warned
In addition, there should be savings. Or allocate an advance for use as an emergency reserve in order to reduce the chances of creating debt and interest burden And Phi Thui that the most important thing is Payment of debt to meet the deadline Because of the delay in payment for each period will come with enormous interest Which is a catalyst for bad debts
Phi Thui would like everyone to keep their financial status and maintain their financial liquidity. For good financial health Do not trap the financial liquidity beyond the ability to pay installments. Before the situation has passed until the financial history is broken Will not have to come to a headache to waste time to solve and lose financial opportunities at the same time.