Anyone in the red because of financial institutions knows how difficult it is to get out of this situation. However, it is possible to overcome it! Learn how to renegotiate debt with the bank in small steps and reduce your debt by up to 90%. To renegotiate debt with the bank, it is important to know what you are dealing with.
It is never beneficial to accept a debt you cannot repay. It is therefore essential to calculate your income according to your monthly expenses. After performing this task, it is your duty to identify superfluous expenses and then cut them.With this information in hand, you can offer the bank the remaining balance of your income as a portion of the renegotiation. Remember that future earnings like the 13th salary can be used to get discounts and write off your debt.
Haven’t reviewed the contract yet? You better do it now!
Analyzing the contract can help you find irregularities such as fees and improper charges. When facing any abnormality, it is important to report the situation to the Central Bank. This condition can be of great help when negotiating with the responsible financial institution.
Other banks may offer better conditions
You may not know it, but you can port your debt to another bank. When you find better conditions, you can pressure the bank to accept your offer.
Still the bank did not accept your proposal? Consider taking your debt to another institution. Remember that in these cases, most banks do not require the opening of a checking account.
Go to the bank in person
Even though some banks already allow internet and telephone negotiations, it is not indicated that the client should do this kind of procedure. The ideal is to go to the institution personally.
Due to the standardization of these communication channels, it is possible that the customer may not find the option that best fits their needs. However, if your phone is your only resource, write down the answering protocol and don’t lose it.
Suggesting solutions can also help you
Expecting a single party solution can frustrate you. Therefore, try to chat to suggest alternatives and make it easier to close your deal. Regardless of debt, the interest rate is always a big villain for your pocket. With that in mind, you have to go to the bank every time you realize that you can’t afford the debt. Avoiding talking to the bank may worsen the chances of trading.
It is important to analyze the bank’s counterproposal
When receiving a counterproposal, always ask for time to reflect your decision. Most offerings lengthen debt, however, offer more installments to provide a sense of consumer relief.
It is important to remember that the more installments, the higher the interest embedded in the total amount. Review the payment term and make sure the installments really fit in your pocket. It is also essential to pay attention to interest, as it should not be above the market average. Another tip is to avoid paying all bank debts in a single debt. This practice may become a major nuisance in the future. This may hinder you in calculating the benefits of the deal, as the interest rate may vary with each type of credit.
Most financial institutions seek to offer contracting services and products to condition renegotiation. According to the Consumer Protection Code, this practice is illegal, and any charge made in a threat tone should yield compensation to the customer.
Couldn’t close deal? Is it possible to get help
Over-indebted clients are assisted by institutions such as Cropon’s Debt Clusters . This aid is offered free of charge. However, consumers who do not fit the profile may need the help of a lawyer to complete their agreement.
Feirões are also a good alternative
There are some joint efforts that only serve to renegotiate debts with the bank. Remember that this type of event has no fixed schedule, and not all financial institutions participate in it.
In an attempt to receive payments through volume rather than negotiation, banks offer better conditions than standard. However, it is important to be prepared not to go too thirsty in the pot, as the deal can also be unfavorable in these situations.
Be careful not to make a mistake again
Once you are able to renegotiate debts with the bank, it is important to keep your financial life in check again. In cases of breach of agreement, it is very likely that the bank will again hinder the chances of making a good deal. So keep an eye out and keep your wallet on the right reins. Did you also get into debt with your credit card?