Debtors often behave fundamentally wrong when faced with financial problems. Instead of courageously tackling resolvable problems and restoring normal conditions, the head is literally stuck in the sand until it is too late. In extreme cases, it only reacts when the power is turned off and the apartment is quit. In the majority of cases, the worst could be avoided if only timely action were taken.
Over-indebted households increases year on year
The fact is: If account and credit are terminated by the bank, the bailiff is on the mat and the reputation is ruined credit bureau and Co., only the way to a debt counseling service. It is true that consumers have to wait here for up to 6 months because the number of over-indebted households increases year on year. In urgent cases, debt counseling services also provide immediate assistance.
In most cases, over-indebtedness does not suddenly occur. Rather, it develops over years and is often favored by inexperienced behavior of debtors. Example rescheduling: Until debtors decide to combine all their outstanding debt into a loan at a monthly rate, it often takes up to the first direct debit on the account or even a negative credit bureau entry. But then it is very difficult to get a loan.
An intelligent restructuring of existing debt would, according to experts, avoid a significant percentage of the cases of over-indebtedness. However, it is up to the debtor himself: If letters are not opened or reminders are ignored, consequences inevitably follow.
Debt problems are often due at least in part to unwise spending behavior.
Thus, especially in households that are threatened by over-indebtedness, there are always unnecessary and overpriced contracts. Too many mobile phones and insurance companies, expensive installment payments for everyday products and high costs for a chronically overdrawn current account push down disposable income.
Experts therefore advise to act early. The sooner the problem is addressed, the more harmless the situation can be resolved. Not infrequently, a debt problem can be sustainably resolved within a week if savings potentials in current expenditure are combined with intelligent and individually tailored debt restructuring.