Insolvency is not a dead end. The most important thing is not to run away from trouble and make efforts to get rid of them if you have difficulty settling your obligations. To this end, we can use many remedies.

In Poland, over two million people do not pay their debts on time. This is due to many factors.

In many cases, this is due to borrowers falling into the debt loop. Despite the backlog of liabilities, they take on new loans and advances that they are also unable to pay back. Also, various random events worsen their life situation.

Super fast consolidated debt relief for you

Negotiations do not have to bring the results we expect. The creditor will either lose his trust in us or he will not be able to offer better repayment terms. Then what?

Let’s not wring our hands. There are still favorable solutions. One of them is a debt consolidation loan, whose main purpose is to repay other liabilities and spread the debt into smaller installments.

It can often be granted on better terms than previous loans. Works best in two situations:

1. When we have many different loans and we start getting lost on repayment terms
2. We are unable to pay back the current installments and we want to reduce them.

Ekassa.com offers an interesting consolidation loan. This proposal combines a good offer with a minimum of formalities. Customers with bad credit history can also use it.

Court enforcement of debts

Court proceedings are not the easiest solution. But if the creditor is unable to find another way to recover capital, he turns to the court for help.

Some lenders are very determined. After a month or two of arrears, they apply to the court for a payment order.

What can we do as debtors then? Let’s check if there was a mistake. Maybe we were wrongly credited with someone else’s debts. Perhaps there were some serious errors in the documents.

1. Let’s request access to documents confirming the debt.
2. Let’s check if the loan costs and capital have been correctly calculated.
3. If the real debt exists and the debt amounts agree, let’s examine the matter for limitation of claims.
4. If a bailiff has already come to us, let us again ask the creditor to write off part of the claim or suspend the proceedings. The enforcement costs are very high and everything should be done to stop or end the proceedings.

Income increase

Instead of looking passively at the next payment requests, let’s look for a way to improve your financial position. What exactly to do?

1. Let’s change the job to a better-paid one.
2. Let’s look for an additional, preferably permanent, source of income.

It is not easy, but it is worth making this effort. The situation on the labor market favors those seeking employment and higher wages.

Declaration of consumer bankruptcy

The legislator met the debt problems and introduced a solution for people who found themselves in a very difficult life situation. It’s about private bankruptcy.

Following an application by the debtor’s ad, it examines how to go into insolvency. Determines whether it was the result of an intentional act or gross negligence, or the debt arose as a result of events beyond the debtor’s control (e.g. job liquidation, accident leading to temporary or permanent loss of earning opportunities). If the first two conditions appear, the court will reject the application for a declaration of consumer bankruptcy.

In the event of a favorable outcome, the debtor’s income will be free from any enforcement action. However, the obligations will not disappear. The court will agree on an individual repayment plan with us.

Contact with a creditor is the beginning of getting out of debt

The accumulation of trouble creates a sense of hopelessness. Often debtors are completely passive instead of seeking a way out of trouble. The worst choice is just hiding from your creditors and pretending that there is no problem. So how do you meet him and get rid of him once and for all?

The creditor strives to recover the capital invested, i.e. the amount of the loan together with the fees due. He reaches for different ways. The basic ones include:

• debt recovery by own means, i.e. internal debt collection,
• commissioning a process for a debt collection company, i.e. external debt collection,
• submitting the case to court.

Each of these processes consumes a lot of time and money. The creditor will try to minimize recovery costs. That is why it is worth showing goodwill and contacting the lender to negotiate debt repayment.

We offer to spread the debt into installments or write off part of it. Both sides will benefit. We will catch our breath in paying the debts and the lender will reduce the costs of recovering liabilities.

It is worth knowing that due to the flatter organizational structure, an attempt to negotiate is more likely to succeed in smaller financial institutions. In banks, setting an individual repayment schedule may be more difficult due to the more extensive decision-making process and formalized procedures.