What do you do if your debt is in arrears and you don’t have a penny to pay it off? Will you use bailouts, use the services of a credit card lawyer, or even apply for KTA to pay off the debt? In the previous article we have repeatedly explained that the above steps are not right. Using a bailout and the services of a credit card lawyer will only release you from the mouth of the crocodile and enter the mouth of the tiger. Meanwhile, using KTA to pay debts is the same as a system of digging hole openings, you will also be caught in debt.
Other options that can be used for example are asking for help from the family to help pay off debt. However, has asking for family assistance been the right step? If yes, what should be done? Then, does this mean you don’t need to use debt negotiation services anymore? Let’s look more fully at the following points to find out whether it is better to use family assistance or negotiation services when caught in credit card debt or KTA.
Family More Voluntary Helps You
Of course the family will voluntarily help you to overcome the debts that have been in arrears and you can be faster to be free from debts that are still in arrears. However, if you decide to do this, it is better to look for ways so that the total debt that must be paid can be reduced. Again, credit card / KTA debt that is currently in arrears is not a family responsibility, so you must also lighten the burden of those who have volunteered to help you.
You Still Need to Use Negotiation Services
“My parents can help pay off my debt, but why do I still need to use negotiation services?”
Even though your family has enough funds to help you get out of debt, it doesn’t mean you can let them make full payments. You can use negotiation services so that the remaining outstanding debt that you still have can get a discount. If you use negotiation services, of course you can get the opportunity to take part in a relief program in the form of:
Debt Discounts in One Time Pay
Programs like this usually give a large amount of deductions. As the name implies, you must immediately pay off the debt in one payment to be free of debt. This type also has other advantages, namely faster to escape the disruption of debt collectors.
Extended Installments with Low Interest
Restructuring or commonly known as extended installments with lower interest is a program that is suitable for those of you who have limited funds but still want to pay off debt.
This type of relief is usually given by the bank by looking at the financial condition of the customer, so that the program provided can also relieve the client. Even though the installment tenure cannot be as long as the restructuring program and discounts obtained are not as large as the debt discount program, this type of program remains an attractive choice for those who need debt relief.
After the negotiation service has managed to get relief for your debt, then the family can help pay the remaining installments of arrears to the bank in nominal terms which is certainly much lower. Next, you can start repaying the remaining arrears to the family. This still needs to be done because once again, this is the responsibility that you must do.
When Paying Credit Card / KTA Installments
The case that often happens is that many people pay their credit card / KTA installments by not considering the remaining funds in the savings, so that the money has already been used up even though there are still many remaining arrears to be paid. At times like this, people who seek negotiation services with banks are often hampered because they really do not have any leftover money, even to pay the DP in the relief program. (Also read: Entangled Credit Card Debt: Bailout Funds or Negotiation Services? ) And ( Credit Card Debt / KTA: Lawyers or Negotiation Services?)
Therefore, it is very important for you to keep money so that later it can be utilized during the negotiation process. Relief on total debt that gets a discount and can help you faster to be free of debt than having to continually pay off debt to the bank with a total debt that is far greater and beyond your ability to pay. To determine the best strategy in maintaining financial flows and negotiating debt in order to get the best relief, more experience and knowledge is needed. Not everyone is able to negotiate their debt and get results that are in accordance with their ability to pay. Therefore, we strongly recommend using a trusted negotiation service so that you can get relief, which of course can save more time and save more money.