Do you have debts with fast credits? We give you the keys to solve it as soon as possible
They say that "who pays rests and who charges more." Quick loans are designed to meet urgent payments, but if they are not returned on time, they can generate greater debts. To avoid these compromised situations, we propose some keys that will help you resolve your debts as soon as possible with fast loans .
One thing is the state of the general economy, with the Euribor at historic lows, and the domestic economy is quite another. When reaching the end of the month becomes a problem and debts begin to pile up, it is the definitive time to take action. The important thing is to make the right decisions as soon as possible and avoid that the debts increase.
Sometimes quick loans are used to meet an expense that was not planned. For example, car breakdown, home repairs, buying a school uniform for children or buying tickets for a concert of your favorite group. The reason is indifferent. With fast loans, you have the money you need in your account almost immediately, but whenever one of these microloans is requested, it must be done responsibly . Your concession is subject to a quick return, as in the case of CréditoSí , which has a period of 30 days.
Quick loans are a very useful solution to meet urgent expenses, but keep in mind that non-payment leads to the accumulation of interest that can generate a greater debt . It is important that you remember that they are not long-term credits, but are intended to be returned with your next income.
An economical solution
Often those who request a quick loan have money in fixed or term deposit or checking accounts. It is money that is saved for important expenses such as renovating the house or buying a car. Taking a part of that "amortized" money to pay the debts contracted with fast loans can be an economical solution.
It is true that banks give a more or less high interest rate for having money deposited in savings, and that money stops generating when it is withdrawn. But comparatively, it is a saving to stop earning the interest that the bank could give us for the investment fund, if the interest on an unpaid debt of a microcredit is taken into account.
By taking a part of the money saved to pay a debt, you prevent the interest on the debt from increasing , therefore you contribute to saving. In short, it is preferable to stop earning a little with the money saved, than to end up losing because of the interest on the debts incurred. Eliminate debts first and save later .
Keys to solve it
We are going to give you 6 keys to solve your debts, if you are in a hurry:
- If your loan has not expired, you can request an extension by paying only the interest. This way you will have more time to solve your situation.
- Organize your debts : write the name of each fast credit company, the due date of the loan and the amount to pay. Use a calendar to be clear about your payments.
- Get in touch with the companies that have lent you the money if you see that you will not be able to pay. They will help you find a solution.
- Do not ask for more fast loans until you pay your debts.
- Consider doing a debt reunification .
- In extreme cases, you can resort to the figure of the Mediator Agent of the Spanish Association of Microloans.
In summary, keep in mind that microloans are very useful in case of need, but they have to be repaid on the due date, therefore ask only what you will be able to pay .