I will help you get out of the credit hole. How to get out of debt and never fall into debt again

Credit addiction is akin to drug addiction, as I have already noted. Absolutely the same symptoms. When a drug addict has an attack and he can no longer control himself, he asks, prays for help, swears that if he is cured now, he will never return to his previous way of life, but as soon as he recovers from the attack, he he immediately runs to his friends in search of a dose, feeling relief and naively believing that things will never get worse.

The same thing happens to a person in a problem credit debt. Usually the debt is not very high, but problems may already arise and then the debtor begins to look for funds to pay off the debt, begs relatives and friends to help get out of debt, swears that he will never borrow again credit. But as soon as you help him, some time passes and he returns to the same puddle.

It's starting to seem like again debt is not a problem, now this won’t happen again, everything will be different, the person takes out a loan again, and what do you think? Again, very quietly, he becomes a debtor, because he again has nothing to pay the loan with. You know, 90% of debtors who, by some miracle, once managed to get out of a debt hole, soon find themselves in a very large debt hole. The first lesson benefits only a few; for the most part, people tend to step on the same rake more than once, and not even twice.

Who can really get out of a deep debt hole?

I will tell you, based on my experience of observing people who are credit dependent, and also based on my own experience, that until a person makes an irrevocable decision to give up loans once and for all, and if the problem ends favorably, never apply for loans again , no one can help him, no matter how hard he tries.

The problem should be solved while it is still at an earlier stage. After all, the further the problem is started, the more difficult it will be to solve it.
So, be able to assess the situation soberly. If the problem has already appeared, you should not buy a new one. credit in the hope that everything will work out. It won't get better! New loans bring new problems and increased debt. It is necessary to solve financial difficulties not in new lending, not in loans from friends, but in obtaining money by earning money. Here's something to think about! How to make money, not where to get a new loan or loan.

We conclude, gentlemen! Only the debtor who approaches the solution of the problem seriously and sensibly assesses the situation will be able to get out of the credit hole.
All you need to do is follow a few simple tips to get out of a deep debt hole.

1. Learn to live within your means.

2. Never! Never! Never take on new debt!

3. Look for additional income; believe me, it’s very easy to earn money if you have the desire.

4. Monitor the situation carefully, set aside money to pay off debts, starting with at least tiny amounts.

And the most important thing is what is needed in order to get rid of debts forever– believe that there is a way out of any hole! Do not complain about fate, admit your guilt and take responsibility for its solution. Everything will work out! I’m not saying empty words, I’m saying this because I have personally experienced all the hardships of credit addiction and felt the happiness of being free from debt! I could do it, so can you, if you don’t give up and don’t give up!

If this article helped you, please share the link on social networks so that more people can come to our website and learn about the legal rights of loan debtors.

Get rid of debts- one of the first and important steps on the path to financial independence. I managed to do this. My method is suitable for those who simply have large debts (no more than 10-12 times your monthly income). Thank God, I didn’t get into huge debts - I started acting in time.

Step 1. Honestly admit to yourself that your difficult financial situation is your fault. Yes - exactly yours. The easiest way is to abdicate responsibility and complain to yourself and everyone around: “parents are poor, the country is poor, wages are low, there is no justice,” etc. and so on. Some people even enjoy it. Or repeat “money doesn’t buy happiness.”
It is difficult to take responsibility for your financial situation. But without this you cannot get out of the debt hole.

Step 2. Love money. Thought is material and we, without realizing it, attract to ourselves what we really love. And we push away what we don’t like.

Step 3. Write down all your debts - to the bank, friends, relatives. Set priorities and repayment deadlines. If it is possible to agree on a deferred payment, use this opportunity. If deadlines are running out, and you understand that you will soon not be able to pay, take out a loan from a bank. If your credit history is still clean, the bank will be happy to give you this loan. But take this issue seriously. You can find a loan calculator on the Internet and compare the conditions of different banks. Choose the optimal term and amount of monthly payment for you.

Important notes on this item:

• When agreeing on a deferred payment, you must know the deadline by which you will definitely be able to repay the debt. You can calculate this with an error of 2-3 months if you read this article to the end and follow the recommendations.
• The amount of the new loan should in no case exceed the amount of today's debts. It is better if it is 10 - 20% less. Don’t fall into the trap “I’ll take out a loan to pay off debts (for the last time! - honestly) and to buy a vacation package, a car, a fur coat...”. This is a snowball and you won’t be able to get out from under it.
• The date of the monthly loan payment should be 1-2 days after the salary or advance payment. If you are used to living from paycheck to paycheck, it’s easier to pay.
• You take out this loan in order to pay off all current debts, reduce the amount of the monthly payment and delay the final payment date.
• in the terms of the loan agreement there must be a clause on the possibility of early repayment of the debt without penalties.

Step 4. Take control of your expenses. There is no need to deny yourself everything and tremble over every penny. Such savings increase depression and self-pity.
There are many home accounting programs available. But I do not recommend spending a lot of time searching, installing, studying. If you have minimal experience with Excel, a simple table is enough. My file can be downloaded. The main thing is to learn not to throw away receipts and write down expenses every day for a month. I described how to work with the file in the article.
The priority payments every month are utilities and credit. Within the remaining amount, buy everything as usual (we are talking about food and basic necessities - there is no money for larger purchases).
Step 5. At the end of the month, allocate 3-4 hours to analyze expenses and draw up a budget for the next month. Think about what you can give up, what you need to buy in the next 6-12 months (refrigerator, boots, coat, suit, etc.) and highlight a new column in the “purchase” expense.
You can make a plan from the first day, but I advise starting from payday. It's easier to plan this way.
After one or two months, you will find that you make purchases less and less on the principle of “and I’ll take this just in case.” And at the same time you don’t feel deprived, you just start to exercise healthy control over your expenses.
Step 6. After 3-4 months, open a savings account in a bank. Don't be surprised - it's cumulative. The point is that you will pay off your debts.
But that's not the main thing. The main thing is financial independence. Getting rid of debt is only the first step. From this moment on, you have one more priority monthly payment - “For yourself”. Not to be confused with the “to buy” column. These are different things. Usually they advise 10% of income. You can start with 5%. But definitely every month. What you need to pay attention to when choosing a deposit can be read in my article.
Step 7 Constantly improve your financial literacy. Books, Internet, trainings, webinars, experiences of successful people.

This article is entirely based on my personal experience. Two years ago, my debts were 10 times my monthly income. Now there are no debts, and the positive balance is several times (I won’t specify how much exactly - this is my trade secret) more than the monthly income.
Before developing my personal plan to overcome the financial crisis, I read a lot of literature. In the next article I will tell you which books helped me.
If you have experience getting out of debt, share it in the comments.
Good luck and prosperity to you!

The most effective ways to get rid of debts forever.

The question of how to get out of debt remains relevant, especially in times of crisis. There are many reasons why you could end up in debt. And not all of them depend on your behavior. For example, unexpected dismissal, salary reduction, illness, death of a close relative. And the constant rise in prices for goods and services leads to the need for constant borrowing. What to do?

Let's look the enemy, that is, debts, in the face

As they say, the devil is not as scary as he is painted. Before you start distributing debts, you should clarify what, to whom and in what amount you owe. It is advisable to write down all the data about your loans and debts that you need to get rid of in the form of a table. It may contain, for example, the following columns:

1. Lender's name.
2. Basic loan amount.
3. Interest rate.
4. Amount of overpayment.
5. Monthly payment amount.
6. The period when the debt must be repaid (if a loan, then the date of the next payment and the total duration of the loan).
7. Notes

It is better to leave the last column wide, since in it you will mark all events related to the loan, for example, “Delay granted,” “Repay urgently,” or “Repay first.” It is most convenient to compile such a table first on paper and then transfer it to Excel.

Next, you need to analyze the work performed. In principle, when you organize your debts, it will become clear exactly how much you pay per month and how long this situation will continue. You will also see the most expensive loans (with a high interest rate) and loans with the largest overpayment (their rate may be lower, but due to the long loan period the overpayment will be higher). We’ll talk about what strategy to repay loans later.

We create a payment calendar

The next step is to create a payment calendar. You can mark payment dates on any wall calendar or draw a special sign. The latter is convenient, since in addition to loans, you can enter into the table any other obligatory expenses - rent, for example, as well as income - salary, advance payment, etc.

As a result, you will see on which days you have income, on which mandatory payments, how they are grouped, and whether you have enough funds to pay off many payments in one week. Now you can plan. For example, salaries are calculated at the beginning of the month, while loans are paid in the middle and at the end. You will be able to set aside the required amount in advance.

It is especially convenient to use the sign when you have many payments. Then you will definitely not get confused and will not miss the date of the next payment due to forgetfulness.

We deal with current debts

If, in terms of loans, the situation is so deplorable that, and the amount of fines has long exceeded the payment itself, collectors spend the night at your entrance, and relatives refuse to let you in for dinner until you pay off the debt, then you should figure out the situation, how to get out of debt with minimal losses.

The best solution would be to openly admit your financial insolvency and negotiate with creditors. If you borrowed from friends and relatives, you can agree to write off interest and pay in installments. If there are a lot of loans, you can ask banks for a deferment or refinance.

But you shouldn’t relax as soon as the credit ties loosen a little. This is not the time to waste money. The freed funds should be used for early repayment of debts. For example, you have three loans of 10, 5 and 4 thousand rubles, and your net income (i.e. free money) is 17 thousand. You agreed to defer the second loan of 5 thousand rubles for a period of six months. Your payment became not 19, but 14 thousand rubles. The freed 3 thousand should be used for early repayment of one of the loans or put aside in a special account to form a financial cushion. But you can't spend them.

If your debt is sold to collectors or banks have assessed too many fines, then it is better not to pay on these loans for now, but to go to court. Usually judges “write off” all sorts of penalties, especially if they are not provided for in the contract. It is often possible to reduce the monthly payment to a minimum by lowering the interest rate or increasing the loan term.

We carry out refinancing

If there are a lot of payments and the interest on them is high enough, then it is necessary. There are several ways to do this:

• take part in a special program of the creditor bank;
• take part in a third-party bank’s refinancing program;
• take out a loan on your own at a lower interest rate and pay off current debts with the funds received.

Since the borrower himself is unlikely to be given a new loan with current debts, a new one is usually issued to a relative or friend. You should calculate the benefits - independent refinancing is beneficial if the total loan term does not increase, and the new rate will be more than 3 points lower than the current one. In other words, if a loan is taken out for 5 years at 33% per annum, and refinancing is carried out the next year, then its parameters should be as follows: term - no more than 4 years, rate - no more than 30% per annum. Otherwise you will have to pay interest again.

Of course, if the situation is critical and the monthly payments are too high, then any way to reduce the financial burden is suitable. To the point of asking the bank to increase the loan term - the total overpayment will increase, but the monthly payment will decrease.

By the way, during refinancing you can try to postpone the payment date. It is more convenient to pay off all loans in one day and try to receive income just in time.

It is optimal to refinance using a special program. Then it will be possible, and the overpayment will be minimal. It is much easier to get approval for a transaction from “your” bank.

We draw up a loan repayment plan

The next step is to decide on a debt repayment strategy. The most optimal would be the following three schemes:

The largest loan is repaid first, then the second largest, then the third, etc. The good thing about this method is that the size of payments is reduced monthly, freeing up free money. Disadvantage: you will have to wait quite a long time until the first loan is paid off.

Small debts are paid off first, then the largest ones. The good thing about this method is that it is easier to “close” small loans, and the borrower himself has a growing sense of satisfaction from the reduction in the number of payments. Disadvantage: the final overpayment will be higher.

The most expensive loans are repaid first(i.e. with the highest interest rate) regardless of their size. This method is the most optimal, based on cost savings. Disadvantage: The most expensive loan may also be the largest, and the monthly payments will not decrease quickly enough.

All loans are repaid evenly. For example, 1-2 thousand are paid monthly in excess of the payment amount. Advantages: systematic reduction of payments. Disadvantage: each time you will have to make an early repayment and overpay on possible commissions.

Which method is more convenient is at the discretion of the borrower. The main thing is to develop a convenient strategy and not deviate from it.

Let's stop increasing debt

Taking out a loan to pay off another loan is a bad practice (unless, of course, refinancing is done). Therefore, you need to immediately refuse loans and credit cards. If you have credit card debts, they need to be repaid first, regardless of the size of other loans. The cards have the most unfavorable tariffs, and the overpayment on them is simply huge. It is better to get rid of debts to the bank immediately.

Of course, we need to stop paying in stores with credit cards. Only or, at worst, cash.

We cut costs

If you decide to get out of debt, you will have to learn to save. Here are some ideas on how you can save money:

Disable all unnecessary payments. For example, if you don’t listen to the radio, then dismantle the radio point. Don't pay for cable if you turn on the TV once a month. Turn off mobile banking if you receive a salary once a month - you will still perform all transactions via the Internet.

Change your tariffs to more favorable ones. Take the time to find out if there may be better tariffs for telephone, Internet and cable. Sometimes you can take part in special programs for the holidays.

Make a list of required monthly expenses(everything, right down to the rent and payment for a child’s kindergarten) and think about where you can save money. For example, if you fill up for 2,000 rubles a month, wouldn’t it be more profitable to buy a transport card for 500 rubles and use the bus? Maybe not as convenient, but cheaper. Or try to transfer your child from a paid section to a free one, if the quality of his education does not suffer.

Save water and electricity, no matter how trivial it may sound. Turn off unnecessary lights and electrical appliances, and turn off the water when brushing your teeth. Of course, you won’t save significant money, but even 500 rubles a month won’t be superfluous - you’ll find something to spend it on. If possible, switch to a two-tariff meter and make household appliances work at night - for example, a washing machine.

Refrain from unnecessary purchases. Go to the store only with a list of products - this will protect you from accidental purchases. Plan right away what you will cook during the week. It is optimal to generally allocate a weekly budget “for food” and not exceed it.

Love the sales. This applies to the purchase of food, clothing, and household goods. Buy more than you need at once so that you don’t overpay next time. But don't go over budget!

Get a card with cash back and interest on the balance. Make purchases only from it. This will contribute a pretty penny to the family budget.

An effective way to get out of debt is to increase your income.

If saving does not provide a significant profit, then only an increase in income will help you get out of debt. The main methods are:

Demand a salary increase. Going directly to your boss and asking for a raise is unlikely to work. But you can take on additional hours, increase the workload, and perform more functions. As a last resort, you can settle for 1.5 bets.

Find a part-time job. This could be a second part-time or night shift job. You can also work on weekends.

If the above methods are difficult or unrealistic, then take up freelancing. There is quite a lot of work on the Internet for all specialties. The services of remote text authors (copywriters), artists and designers, programmers, and accountants are in particular demand. If you don’t have the ability for such activities, then you can find physical work for yourself: “husband for an hour,” taxi driver, repair, etc. - there are special exchanges where such services are offered.

Invest. Of course, it takes money to generate income from investments. And if there are a lot of debts, then there is no free money. However, you can start small. For example, put aside 2-3 thousand monthly for a deposit, and 1-2 thousand - in risk capital. It is important for you to learn the principles of investing, not just how to make money.

Open your own mini-business. It could be anything - a website on the Internet, an online store based on a group on a social network, referral business, network marketing, baking cakes at home, sewing, burning... The main thing here is to start and survive the first year.

Sell ​​extra items. Do you have old coins? What about the stamp collection? Decorations? Maybe you have a whole bunch of clothes you don't wear or books you don't read? Try selling it through local newspapers or websites like Avito. Do not waste the funds received, but pay off your loans ahead of schedule.