Managing many debts is not an easy job, but doable! So head up, and get ready for better future!
Choose one of the options and apply!
- Pay back the smallest debts first (or pre-pay).
- Sell your car (and purchase much cheaper) to pre-pay part of your debts
- Find additional job, even not that well paid, and use all the income for pre-payment of debts
- Talk to your credit officer to reschedule your installments (** FOR CLIENTS OF MFIS)
- Prioritize installments payments on time over other obligation (late fees of financial institutions are much more expensive than in case of other obligations)
- Schedule an appointment with debt advisor (** REFERENCE TO PROPER CENTER/ SUPPORT)
- Do not take another credit to pay any of your installments
- Do not take another credit before you repay these debts. Your total monthly installments should not exceed quarter of your monthly income.
Check-out other tips:
Do you find Financial Health Quiz useful?
You can offer the Financial Health Quiz to your Customers or Partners in cooperation with Microfinance Centre.
For further details please contact Kinga Dabrowska.
Microfinance Centre Financial Education Projects