Over-indebtedness is a pressing reality these days. With the facilities that have been provided, over the last two decades, in access to credit, by creditor institutions and banks, many people have achieved the dream of buying a house, or a car and even asked for consumer credit for furniture. , televisions and computers. The problem with this situation lies in the origin of a “snowball effect” of debt, which has already led many families to bankruptcy.
As such, always with the aim of helping you to save and avoid financial problems that could lead to over-indebtedness, we have prepared another infographic, this time with the story of Marco, an individual who acquired everything and was about to lose almost everything.
Indebtedness, both with personal credit and with credit cards, generated a snowball that grew in proportion to the amount of accumulated deficit. It unleashed an avalanche of indebtedness and, finally, only stopped when it caused an authentic catastrophe – not natural, but financial of schedule 1 tax form.
How can you avoid following this bad example? First, you have to recognize the signs that your debts are getting out of control: a debt ratio of over 80%; the constant rejection of your credit requests; the inability to pay more than the minimum amount required; start having to choose between paying off these expenses or buying food and other basic necessities; never being able to pay your installments on time; among other signs.
Finally, we emphasize that requesting a credit is making a commitment – therefore, it generates rights and obligations for both parties, usually for a long period of time. So there’s nothing better than preventing rather than going into default and then trying to fix it. Finally, we suggest that you consult your rights and duties as a bank customer .