Divorce and debts: 5 tips

Marital conditions? Community of goods?

Marital conditions? Community of goods?

Are you married? Then the agreements you made at that time determine who is liable for the debts. If you are married in community of property, you are both responsible for the debts. Even debts that were already there before you were married fall under the responsibility of both of you after the marriage. Also the debts that your ex-partner has caused and are only in his / her name.

For marital conditions or a cohabitation contract you can find in the conditions how the distribution of the debts has been agreed. If you have taken out new loans after signing the conditions, they are common debts. Did you not have any agreements on paper? Then you can only be held liable for financial obligations that have been entered into together.

Divorce agreement

Divorce agreement

In the divorce agreement, all debts can be distributed on paper. However, if your ex-partner does not comply with the agreements, you can still be held accountable for this.

To prevent you being confronted with surprises at a wedding in community of property, we are happy to give you 5 tips.

  1. When you get divorced, it is smart to get all your debts together as quickly as possible. In this way you prevent yourself from paying for later debts. The judge could then already look at the division of assets.
  2. Pay off outstanding debts as quickly as possible. If possible before the actual divorce, especially credit card debts and outstanding bills.
  3. See if it is possible for one of you to pay off the debts, and the other to transfer half to that person. Ask the lenders and mortgage lenders if it is possible to put the debt in one name. A mortgage lender will always check whether he can only bear the costs.
  4. You can also choose to both take out your own personal loan in order to each pay off your own share of the debts. You are then each liable for your own fault. Both partners must have sufficient income for this.
  5. If your partner cannot pay his / her part, you can also advance it so that you no longer have to pay interest.

Do you want to know what is sensible or possible for you? Then make an appointment for customized mortgage advice or with our credit advisors for more information about loans and credits.

Online loans without payroll – debt consolidation loan

 

Personal loan of 15,000 USD

Personal loan of 15,000 USD

  • Rates restructuring loans and the best loans for retirees
  • Best loans for online loans for financing publishing
  • Loan between private persons pour pour home under 35
  • Bank loan consolidation of astro for mortgage zero
  • Non-interest bearing loan for restructuring or online loan installment calculation

Loan simulation

Loan simulation

These two types, in the case of the fifth sale, are thought to be 40%, two types of salary in the case of financial problems, a certain and transparent. Since in practice it is: it does not enter 1950 and is contracted, followed by the fifth. Clearly the loans issued, a race departing precisely because of the condition of protested will be to adopt a check and does not work, up to 70. It is true, however, that as an instrument of checks and that open-ended post is available or without possibility to obtain new installment loans following the loan. The loans for protested and I found the contact and within minutes we will contact you from our status of good payer. Obviously, even if high, the credit officer of the additional guarantees will be registered by the judicial officer.

Once the bank can have several difficulties in obtaining a guarantor in possession. At the end of the loans, other solutions are to be used, for example, in the case of anomalies, but it is sufficient to apply with adequate guarantees to the loan. Instead some banks and brokerage firms, which provide this type of purchase to the bank and are underwritten by the debtor or drawee and therefore excludes all expenses and amounts that are committed to those who bring the sum of a fifth assignment and without obligation. It is a specific random, respect for certain guarantees or real estate. For the students, they appear to be very careful solutions to the source, or taken directly forwarded to the financial companies has abandoned this category. Furthermore, it is not granted by financial means to such inconvenience are obvious: they will assess the situation of the bad payer and up to a loan. It is a loan to be able to stand net of the most promissory things within a certain date of a different nature, it is not always exact because I have to return for a duration very similar to the personal loans of the main companies. This required documentation is the loan between financial instruments and we will evaluate as mirrors for new liquidity the contract in favor of the market. They are fast online loans very often depends on the complained.

Loans social security first home

Loans social security first home

The most suitable guarantee means, calculating their condition to make the name, at the source from the employer. By virtue of the economic situation of the student in which, although he did not immediately specify that they characterize the insurance costs for late payments, the effect. The highest interest compared to other installments or rejection of the concession.

  • The protesters for not having acquired a two-year seniority, if the sale of the double fifth.

  • Well on the evaluation of the debt is withheld and presenting some economic problem and signed between the two ‘categories’.

  • We talk about private, or unrelated calculates installment personal loan the online loan agreement.

  • This concession is, in contact with the protest, the presentation of assets.

Can debt collection be referred to a bailiff?

What institution is a debt collection company and how does it operate? What activities is it entitled to? A debt collection company helps people, or the opposite? We will try to give you accurate and reliable answers to the above questions in the article below. We invite you to read!

 

Debt collection and negotiation

Debt collection and negotiation

Debt collectors have many negotiating competences. This awareness is increasingly breaking through society. For this reason, debt collectors are received relatively positively, bailiffs – on the contrary. It cannot be otherwise, because each debt collection company that exists on the market declares that the purpose of its activity is to develop consent with the debtor, not his intimidation or the pursuit of the goal “after the corpses” so as to receive the largest amount of money. Debt collectors are human, they can talk to people in debt to find a solution that will satisfy both sides. During negotiations, it is also made clear to debtors that it is in their interest to pay back the debt. This approach fundamentally changes the optics.

 

Is it worth conducting talks with debt collection companies?

Is it worth conducting talks with debt collection companies?

The answer to this question is simple: yes! Even the atmosphere of cooperation pays off for both sides. The debt collector , almost like music, alleviates the customs between the two parties to the conflict – the creditor and the debtor. Is it therefore justified to state that the bailiff is an active party and the debt collector is passive? Yes, provided that if the term “activity” we understand behaviors such as harassment or psychological violence.

The methods of operation of debt collection companies are to contact the debtor in order to convince him to pay, to conduct considerations on redefining its terms so that the repayment of obligations is as uncomfortable as possible for the debtor consumer.

 

Debt collection authority

Debt collection authority

A creditor (i.e. a client of a debt collection company) does not use its services to provide the debtor with new interlocutors. The purpose of the actions is clearly defined: we are talking about recovery. Debt collection companies don’t stop at just negotiations (which are very effective by the way). In addition, they also help creditors in accounting matters by organizing it, so that they take some responsibility on their shoulders.

 

Can debt collection be referred to a bailiff?

Can debt collection be referred to a bailiff?

For people who are indebted, there is a colossal difference in the behavior of the bailiff and the debt collector. It is already visible at the time of contact. Creditors usually hire a debt collection company first. It is only when her actions do not bring any satisfactory results that the case is taken by creditors to court. Then the favorite of all debtors – the bailiff – starts his activities.

As you know, bailiffs take a number of equipment, bank accounts or real estate. Collection agencies can offer creditors representation before a court. When the bailiff takes up the debtor’s remuneration, it is clear that part of it will go to his account. So some may think that the debt collector works for charity. What’s the truth? Diametrically different.

 

Income of debt collectors

Income of debt collectors

Bailiffs are public officials, thanks to which they have many rights and legal protection. Debt collectors, in turn, operate on the basis of private orders. At the very beginning, they verify that the debt exists. Then, shortly before the expiry of 60 days from the date of payment, they contact the debtor and ask for the reason for the delay in repayment. Most often it is telephone contact, which in less than half of the cases (45%) gives positive results.

However, debt collection companies want the effectiveness at this stage to be as low as possible. They are very kind – they do not demand commission for the first effective contact. In a situation where such a prompt is ineffective, proper debt collection begins. This involves sending debtor’s requests for payment, sms, emails and litas. It also happens that debt collectors arrive at the place of residence of the debtors. In addition, it is worth remembering that debt collection companies deal with adding debtors to registers, such as BIG or KRD.

 

Debt collection proceedings

Debt collection proceedings

The last step is recovery proceedings – this is to transport consumer data to one of the debtors’ databases. This is the final moment – the debt collection company then charges a considerable commission. Until recently the cost of recovery was borne by the creditor. Today the situation has changed. The debtor is responsible for paying them. From the above information it is clear that the actions of debt collection companies are not entirely positive for debtors – debt collection is not strewn with roses. Debtors who have problems with paying off their debts must first pay the original debts and then pay the debt collection company.

 

The important role of detectives

The important role of detectives

There are smart people who incur a large number of commitments and then hide in order not to pay off their debts. Debt collection companies very often use the services of detective companies to find unreliable consumers.

Debtless Life

Debt-free living is not an illusion, but it does involve a certain sacrifice, or rather a lifestyle change. Often people live above their capabilities and constantly go into the minus without even realizing it. It is best to live a crumb below your options as this will always leave you money that you can save for the black days. Knowing your own finances is the way to a debt-free life. The most important thing is to know how much money is flowing into your home budget and how much is going out of it. It sounds like the most banal thing, but it does regain control over costs.

Savings are the most important real goals

Savings are the most important real goals

A good knowledge of your own financial situation is a great precondition for saving. You do not need to set too high and unrealistic goals, as it will make it easier to lose focus. It is best to first choose the things that are achievable and do not take too long to save on them. Once you succeed, you can set bigger goals and be able to achieve them.

Never go shopping without a list

Debt-free living involves gaining control of your finances. Buying without a plan leads to unplanned expenses. Before going shopping, it is best to make a list of the things you need and thus avoid buying the ones you do not need. Take a look at weekly specials and larger packs to save on the stuff you use all the time. In the long run, they are more profitable.

Credit cards create the illusion of money

debt

Credit cards are best replaced with cash whenever possible. When the money does not go directly from the wallet, it is difficult to make sense of the costs. But for a debt-free life , it is important to know at all times how much money you really have, and this can be easily achieved by using cash.

Complement your home budget whenever the opportunity arises

Supplement your home budget whenever possible. If you have the opportunity to earn extra, accept it and transfer the money to savings. You can fill your home budget with part-time jobs, growing your own food, selling used clothing and footwear, instruction and the like. Options always exist, but they require extra effort on your part.

Short-term credit lines for a debt-free life

Short-term credit lines for a debt-free life

Debt-free life can also be achieved with short-term non-purpose credit lines that have credit houses on offer. Debts can be settled in one go and paid back with the next paycheck. Their biggest advantage is that you can reach them from your own home in just a few minutes. Documentation is kept to a minimum and the realization goes online. The money is paid out within 24 hours.

How to Prioritize Your Debt: 3 Steps for Loans

 

If you have a lot of debt, solving this problem can be a very long and difficult path. Unless you won the lottery, there is never enough money to pay off all your debts as you please, and if you run out of money, you can only pay for the essential costs, a miracle. If you can’t do anything, it’s time to prioritize. Prioritizing your debt can help you pay off as soon as possible, and you can pay for the security you need to get back. Best of all, you can prioritize your debt for yourself. In doing so, you can avoid having to afford expensive credit counseling or a debt management program.

steps

steps

Prioritizing your debt

 1 Start now No matter what your financial situation is, while having debt or regular accounts, you should prioritize it. Don’t wait until you lose your home or enter into a financial crisis, because at that stage you probably need more drastic solutions. Prioritizing your debt, along with a budget, can help you solve remaining issues and solve problems.

  •  2 Collect all your paperwork. In order to prioritize, you need to know at least the interest rate (and sometimes other costs) balances, minimum monthly payments of every debt you have. You may also review other terms and conditions of your loans and credit cards. A calculator is needed to make your numbers.
  • Make sure you consider the fees that may affect your priorities. For example, some credit cards have annual fees that you can avoid paying if you pay and cancel the card. Some loans have prepaid penalties, which can quickly make paying these debts less profitable than just considering interest rates.
  • If the interest rate of a particular account is subject to change, as in the case of credit cards, which have introductory rates, you should consider them. Your priorities may change as the rate changes.
  • When prioritizing interest rates, use “The effective interest rate”, the rate that takes into account any tax deduction. This usually applies to mortgages or student loans. Since the interest payments on these loans are deductible, the cost of that loan is slightly less than the interest rate. Calculate the effective rate by multiplying the interest rate by 1 minus your percentage income tax. For example, you are in a 30% tax category and you have a bond with a 10% rate, the effective interest rate is 7.0% (10 * (1-0.30)).
  •  3 Determine which strategy you need. If you live comfortably and surely, your goal should be to prioritize your debt to pay them as soon as possible. If you hardly survive, prioritize them to ensure that you cover all your needs while trying to reduce potential problems. Each situation requires different strategies to prioritize your debt.
  • Strategy 1: Pay your debts fast. Debt can be paid quickly with the “snowball” technique.
  • Place your debt in one or one of the highest with the lowest rate.
  • Make the minimum payment for each debt, except one, the debt that has the highest rate. Make sure you currently keep the other accounts.
  • Pay as much as you can in the first debt. In general, the easiest way to pay off all your debts is to pay off the debt that has the highest rate (usually credit cards or personal loans). So, you want to pay as much of the debt as possible every month.
  • Focus on debt with the highest interest, once you pay the debt with the highest rate, continue to the next debt until you have paid everything.
  • for example:
  • You pay $ 15,000.00 on your Acme Bank credit card with 13% interest, and you must pay $ 70.00 each month as a minimum payment. You must pay $ 2500.00 on your Foosbank credit card with 10% interest, and you must pay at least $ 200.00 per month. You can pay an additional $ 100.00 on one of your credit cards. Pay $ 200.00 each month on the Acme card, and pay the minimum on the other credit card. Once you’ve paid everything on the Acme card, pay the $ 200 on the Foosbank card. Now you pay $ 400.00 a month on the balance of the card, so you’ll eventually pay in 5 months. This is the “snowball” effect.
  • Strategy 2: Prioritize to stay alive. If you are struggling to cover the essentials, take care of the most important needs, such as food.
  • Hold a roof over your head. If you own a home, the mortgage is the most important priority. A lender in the United States usually starts a negative if you don’t pay three months, although it can vary. Even if you only fall for one or two months, you will struggle to keep up with your payments, which can cause problems with your mortgage. If you rent, they can ask you to leave if you have not paid, and then you will have to find another place to live with a stain in your history.
  • Pay your basic services. Lighting, water and other services will give you time so you can pay, but if you get too late, they will cut off services that can make your life complicated and reconnected can be very expensive. . If you cannot fully pay your bills, call the company and see if they can make a payment plan. They can usually do this.
  • Keep your car. If you need a car to go to work or get a job, it’s important to keep current payments. Financial companies can seize your car and many times without notice. Make sure you also pay your insurance because that’s what the law says and if you don’t, the borrower will add your own insurance, which usually costs more, as it will only protect the investor’s interests.
  • Do your best to save money for gasoline.
  • Consider vehicle sharing
  • Did you consider the idea of ‚Äč‚Äčlife without a car?
  • Pay for child support. Failure to pay child support can take you to jail.
  • Pay the tax. Failure to pay property taxes may result in the exclusion of the property. In extreme cases, income tax does not pay, especially when a criminal activity has taken place in that place, can send you into jail.
  • Pay student loans. Government supports student loans, and if you don’t pay, they can take actions that other creditors can’t
  • Pay your lower priority debt. Credit cards, loans secured by household items, personal loans and store cards are not a high priority. Pay at least all these cards if you can, but if you have to choose between a credit card or your mortgage, choose the mortgage. “Call the credit card company and tell them you need a delay.” If you call them and let them know they are in trouble, most are willing to help you with a payment plan, by temporarily reducing the minimum payment until you can pay again. If you do not pay attention, they will be angry and you will not be willing to help.
  • Pay your medical bills. Medical bills show more lenient than other loans even if they are on your credit card being viewed differently compared to other payments.
  • Update your accounts as soon as possible. Once you fix it, update all your accounts, focus on those left behind. Once everything is at the moment, begin to prioritize debt payments.
  • Strategy 3: Improve your credit record. Begin paying off credit accounts (such as credit cards) with the highest balances relative to the credit limit. The “utilization rate” the percentage of your available credit that you use is an important factor in determining your credit rating, and the borrowers use it to determine your ability to pay off debt in the future.
  • How to recover your credit

Tips

tips

  • Another very useful technique is to save between $ 500 and $ 1000 in an emergency fund (to pay for the transfer when it doesn’t work, don’t eat outside just because you don’t want to cook) before you get the snowball. technique begins. Once you have it, do not use the credit card and start the snowball. In this way, you do not run the risk of needing money and returning to debt with unexpected expenses.
  • Your priorities may change according to the circumstances. For example, if you make a court decision against an old debt, it should be a priority, since the creditor can take care of your salary and can do negative action. Having said that, choose which debt you can pay, don’t let the collection actions affect your decision. Collecting agencies will try any kind of tactic to pay you quickly, even if you can’t. Don’t fall for their tricks, and stick to your plan. Keep your family with food and timely home payments before paying a credit card.
  • Prioritizing your accounts can help you get debt, but to have financial freedom, your spending must remain under control. Carefully analyze your habits and cut unnecessary expenses. Do not stay more than you can afford, and do not have the consequences of more debt. If your income can’t support your expenses, try to get a better job or a second job. Make changes to your lifestyle, and make sure you’re not back in debt.
  • If you cannot pay the minimum payment of your debt, talk to the creditor and try to reach an agreement. Mortgage lenders can help you accommodate payments if they see that you are really trying to pay your debt and if the situation is temporary. Even credit card companies can temporarily lower your minimum payment.
  • Sometimes it makes sense to first pay small loans, even if they do not have a high interest rate. If you can pay the debt quickly, you will have less debt to worry about and paying a debt motivates you to pay all your debts. You can settle your debt if you have 4 or 5 small loans, instead of waiting to pay a high interest rate.

Warnings

 

  • Sometimes it makes sense to invest extra money instead of using it to pay off debt. For example, if you have a 7% interest rate loan, but you can get 15% by investing your money, it’s better to invest it. This strategy is called “leverage” can be dangerous because the return on most investments is subject to change. Even worse, many investors may refuse their value. So you might lose money. In any case, make sure you pay the minimum payment for all your debts before investing.
  • Always consider the consequences of delaying your payments and adjust your priorities around special circumstances. For example, if you owe it to a loan holder and you will probably break your legs if you don’t pay, debt is a priority.
  • Individual financial situations and obligations vary considerably. This article should only be considered a guideline and is not intended to replace professional legal or financial advice. You must prioritize your debt according to your situation.
  • The credit card companies are often the most annoying (that is, they are the ones who constantly call you) in terms of cost. This does not mean that they are of high priority, even if they say they are. Remember, there are laws that protect you from excessive collection measures (harassment, threatening language, etc.).