Thursday, June 21, 2012

How to get out of debt trap

The loan is a very popular way to get a lot of money here and now, among some people it is even fashionable. Many allow themselves to buy on credit expensive household appliances, car or purchased a home on the mortgage program. But any fairy tale sooner or later comes to an end. The loss of a job, loss of a stable income, reduction in production, growth of prices, the loss of disability - all of this can put borrowers in a desperate situation.


 The amount of the debt and penalty interest on the loan may grow in geometric progression on a monthly basis.The procedure of debt collection through the courts for banks takes several months, and one hundred% guarantee of repayment of the funds does not give. Therefore, the banks «sell» the debts of its negligent borrowers in the so-called debt collection Agency. Collectors can return the money to the creditor within a few days, just knocking them out of the debtor.


Be sure, if the borrower have problems with credit, then in his life soon there will be people with impunity will intimidate and threaten, bringing their victims to nervous breakdowns.

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