Ways to eliminate debt
Thursday, June 10, 2010 5:41Loan is not the solution to the debt, the loan is another debt that you can better plan to pay it
Home for this and the next four articles, I will talk about ways to eliminate debt. Are just five ways and has no secret. Track.
Exchange debt
Change means taking a debt borrowed money to pay off other debt. I want to clarify that loan is not the solution to debt, but other debt. Exchanging debt is nothing more than to get a loan to pay off the balance of the credit or the balance of the overdraft. These two forms of credit have the highest rates in the market.
You as an employee of any company can use the consigned credit for the discharge of other debts. For example, if you have a balance on the Credit Cards from $ 1,000.00 (one thousand reais) and only pay the minimum monthly rotating (you probably paid $ 100.00), the next month without buying anything, debt back to $ 1,000.00 or more in interest charges.
But if you take a loan enshrined in the cooperative or your company in the category, you will surely achieve better rates and pay less interest and also will put down their debt. What happens when you not only pay the minimum on the card. With a service you pay your total debt at 6 or 12 months. If you continue to pay the minimum will not ever have to pay …
Besides the interest rate, the main thing to do when contracting a loan is to calculate the value of the monthly payment is within your budget. Many people do not own this already, the first installment, we use other credits for paying the benefit.
Remember, if you receive $ 1,000.00 per month and make a loan of 12 installments of $ 100.00 you receive for the next 12 months U.S. $ 900.00 for the $ 100.00 already be discounted. Make this account, because there are people who continue to spend as if they received the $ 1,000.00.
This is one way of use of credit. Loan is not the solution to the debt, the loan is another debt that you can better plan to pay it. Keep track of textbooks means of disposal of debts.
