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How to realize when one is in a situation of overindebtedness?

 

How we know if we are over-indebtedness?

How we know if we are over-indebtedness?

Many homes in France are in debt. The budgets of families are burdened with fixed charges and also temporary expenses, but all this put end to end, ends up making significant sums and one often uses one or more credits to be able to get out of it. When we find ourselves in a situation of over-indebtedness, we must not panic because there are always solutions proposed to get out of it.
It can be a difficult temporary situation that can be easily remedied. The situation of over-indebtedness is random and there are no precise situations to define this problem, because it depends on a lot of criteria.

What is over-indetedness?

What is over-indetedness?

The very definition of over-indebtedness is that one can no longer cope with its repayments, monthly payments and that one is heading for a blocked situation. One can easily realize if one is going or if one is in a situation of overindebtedness because it is according to are debt rate reached. The fact of not being able to face his repayments concerning his credit or credits must put the chip in the ear. The reminders of letters of lending institutions that pile up in the mailbox is also a sign that should alert and at that time, one must ask if one is already in a situation of overindebtedness.

Once the borrower becomes aware of the situation in which he finds himself after all these events, he must react quickly and implement the means at his disposal to solve this problem before it escalates. It is high time to consider the solution which is the redemption of credits. This procedure will allow you to have all the credits bought by a banking organization and to only have to pay a monthly payment instead of several if you have credits in progress.It is possible to benefit from the protocol of the personal bankruptcy and there all the debts are definitively erased. This procedure is interesting but has a backlash, it is that if at a moment or another you decide again of to make a loan, it will be very difficult because the banks will not trust you anymore. This procedure is a last resort.