To have overdue debts it is a cause of stress and worry. And this financial problem not only affects the debtor, but also his environment, especially the immediate family. However, there is a way to pay off past due debts without throwing in the towel along the way, in no time.
Tips for paying off my past due debts
The basis for paying those debts whose deadline has already expired, is to improve our financial habits and be more aware of our own finances, and the economy in general. To help you with this, here are four tips to pay your overdue debts.
Do not apply for loans to pay for others
First of all, avoid the temptation to apply for new loans to pay off bad debts. Debt consolidation is usually a better option compared to acquiring new loans, since it unifies all the debts that you have, in a single monthly payment, on the same date each month.
Acquire saving habits
That way you can have greater solvency. The initial savings plan that you develop, if you already have past due debts, should give priority to paying these, but once you pay it off, you can allocate this savings for the purpose you want, for example, the initial of your own house, a travel, studies, etc.
Sort your debts
Recognize what debts you have. Then, order them from highest to lowest to know which one to prioritize. It is better to end the debt that earns you the highest interest first. After identifying your debts, analyze your expenses, make cuts of those that are not necessary and use this money to prioritize the payment of the most expensive debt, once you have paid it off, you can continue with the next one until you finish with all the debts that you have.
Seek professional advicel
Finally, if the problems paying your debts are out of your hands, or you have no idea where to start, it is best that you seek help from professional financial advisers. They will be able to evaluate your case and offer you a solution according to your situation and needs.
For example, at AlDía we offer different plans that help our clients pay off their past due debts. Our Pool program, helps you cancel your past due debts in a single payment, under better conditions and lower interest rates, thanks to the massive debt negotiation that we do every month. If you are interested in saying “goodbye” to your debts and having the help of financial advisors, contact us!