The loan is the only way out for many borrowers who need to repay their overdue bills urgently. But when does the loan itself become a priceless debt? We know that this snowball is more common than we would like, especially in times of economic crisis, unemployment, high interest rates and disproportionate inflation with the precarious wage increases of most Brazilians.
There are a few ways to renegotiate this loan, check out the expert tips:
Calculate the actual size of the debt
Putting all expenses and debts on a worksheet to measure diamond size remains the # 1 step of any responsible planning. If you did not do this before signing the loan agreement or could not follow your initial plan to the letter, you will have to do a thorough chart and redo the accounts. If you do not know how to do this yourself, ask someone who understands spreadsheets to help. In the document, put your net income (with all the separate discounts) and cross with fixed expenses and outstanding debts.
Talk frankly with your manager
After reorganizing your financial life on this spreadsheet, be realistic and assume for yourself how much money it will actually be possible to reserve for the repayment of the loan debt. With these data in hand, talk to your manager, explain the situation, and how you plan to solve the problem. Taking the issue and some solution helps start a friendly conversation that can pay off.
In this new negotiation may be that you can increase the term to repay your loan, thus decreasing the value of monthly installments. It will not be the end of the debt, but at least the account fits back into your budget and your name does not run the risk of going to Serasa or SPC.
Guarantee of some property
If you have a second car or property you can offer as collateral to get a new loan and pay off the previous debt can also be a good way out. But remember that this recommendation only applies if the property is not the apartment where you live. If the vehicle is the only one in the family, it is also best not to commit it so as not to risk losing everything and still getting more debt.
If your manager does not accept renegotiation, another way is to transfer your loan debt to another bank. The portability of the debt is guaranteed by law and the client has the right to choose the best conditions of installments and interest rates that seem to him more convenient. Another good strategy is to just make a quote on financials and take the most attractive proposals to try to pressure and persuade your bank manager to renegotiate.