How to prevent execution and get rid of debts?
When the execution is said, you do not have to be a fortune-teller to know that it is nothing pleasant. Even those of you who haven’t met her will know that when a bailiff knocks on a door, the situation is serious. Read a few tips on how to prevent execution and do not let the execution get you worried.
What is execution?
Execution is a forced execution of a judicial or other decision that constitutes a significant interference with the property rights of persons. A person designated and empowered by a State to enforce judicial and other decisions is called a bailiff. The Enforcement Order is a decision by which enforcement proceedings can be conducted.
Non-repayment of your obligations is an invitation to the bailiff, although it is mostly the last option that the creditors reach. If the debts fall on your head , communication is the best way. But even better is not to get into debt and do not solve whether every day you find in the box letter of initiation of execution proceedings.
How to prevent execution and get rid of debts ?
1. Learn to live without lending
Yes! It’s not easy, but it can be. Just want a little. Do not let the debt repayment problems overwhelm you so much that you are broke.
There are currently many institutions that are happy to lend you whatever you want. However, it should be remembered that loans are there to serve people and not vice versa . Very simply, a few euros can become a regular borrowing for everyday spending and you don’t even know how to become a slave to your debts .
What to do if unexpected expenses occur?
Those who have a savings account in the bank certainly know what the speech is about. According to a survey conducted by UniCredit Bank at the beginning of 2017, more than half of Slovaks are saving on their savings account . The financial reserve to finance such unexpected expenditures is always appropriate and some situations just happen when the bank account is empty.
Whether or not unplanned events occur in your life, it is a good idea to have some deferred cash. After all, if nothing unexpected occurs, such a dream holiday will fit, right?
Nevertheless, I want a loan
If, despite everything, you have opted for a loan, first of all, get the best out of the loan agreement . Alternatively, use an expert service.
Also in this case, the proverb: ” Three times measure and once cut ” applies . Think well and consider whether you really need a loan. Compare parameters and do not sign up for the first bid immediately.
The worldwide recommended limit, which should not exceed the monthly payment, is 30% of the salary. It is not recommended to give more than 30% of the debt repayment salary. Also think of your other expenses!
It can also protect you from execution if you insure the loan . Although you will pay off a little more, you will avoid problems in case of loss of work, sickness, disability or death.
2. Learn how to manage effectively
Effective management is the main tool to prevent execution. All the more so if you have financial problems with your neck.
Your financial problems aren’t just out of the blue, so you don’t just get rid of them with a wave of your hand. Believe that if you want to get rid of your financial problems, you have to make a huge effort, but it is worth the effort.
The first step to getting rid of debt is to make order for your expenses and create a new budget. Your debts will not be repaid without disposing of unnecessary expenses. The best way to find out your unnecessary expenses is by keeping a detailed list of what you mean . Examples include expensive clothing, exclusive vacations, driving, buying unnecessary things, and the like. You can also buy chisels, you can replace your holiday with adventurous camping somewhere in the woods and simply travel by bus instead of the car.
You will be surprised how much unnecessary spending you have during the month . Just eliminate them and prepare a new budget by item. The budget will be an ideal overview for you, which will alert you to the things you spend wasted on. One of the ways to handle your monthly spending is a new job with higher income. However, this is not an option for all.
3. Sell unnecessary things
Another way to get money to repay debts is to find a second job or sell out unnecessary things. If you have enough time, use it and find some side work alongside your main job. With large sums of money, the faster you get rid of debt.
In addition to work, you can monetize things like car, laptop, expensive paintings, luxury jewelry and clothing. Simply everything you can.
Yes, it is easy to write and it will not be easy for you, but think of the feeling of getting rid of your debt once and for all. It is a better solution than if you were facing an executor.
4. Repayment of old loans
The problem of clients at risk of execution is the amount of old and overpriced loans due to which they have been delayed and credit registers . They have thus automatically deprived themselves of the possibility of obtaining a loan at a bank for which they are at too high a risk.
There is nothing else left to them, just to turn to non-bank companies, but in this case it is better to take out one loan to pay off all the old loans and think of only one installment .
If you manage to raise money, for example, by selling out unnecessary things, you can repay the loan prematurely . Silverside also offers such a possibility; In addition, it is also possible to request a change in the payment schedule if unforeseen problems occur. However, it must be borne in mind that this will be at the cost of a larger loan repayment.