Do you have debts at ANZ bank, Standard Chartered, Citibank, HSBC, Bank Mega, Permata, or other banks? Debt problems with banks have always been an endless topic. But don’t worry, we have prepared several ways to pay off bank debt that you can immediately do. Check out the following article so you can immediately deal with it.
Remember Again Debt Allocation
The first way to pay off bank debt is to look again for what money is allocated. See again which ones are productive or consumptive. If you have, try to calculate the total debt you have and the interest charged, so you can estimate how much nominal you have to collect to pay off the debt.
Use Emergency Funds
Emergency funds can be a way out that is used to pay off bank loans. Emergency funds should be set aside 10% of income each month, so that when an unwanted situation occurs you can immediately use it. However, if you don’t have a savings system for emergency funds, you can still use other methods. Try to remember whether there are still people who have debts to you and bill the debt, other ways can be by selling used goods, or looking for additional work .
Take advantage of the assets that you have
One way to pay off the bank debt that you are good at is by utilizing the assets that you have. If you currently have property assets such as a house / apartment, try to rent an empty room into the AirBnB , or open a small business at home that fortunately can be used to cover the remaining debt. On the other hand, if you have other assets in the form of motorized vehicles, also use creative ways. You can be a UBER driver partner , GO-JEK / GRAB driver.
On the other hand you can also use the car as a medium for advertising to run. Later the car you have will be affixed with commercial product advertising stickers that have worked with advertising companies, such as Ubiklan and Sticar . You only have to drive the car in jammed areas during rush hour. The income that you can get will be calculated based on per KM.
Consult with Experienced Parties
In fact, there is only one way to pay off bank loans, namely by paying all arrears. But if you feel unable to pay off all arrears, try to consult with more experienced parties, such as companies that provide debt management programs. Such consultants are able to provide the best solution by understanding the financial conditions that you have. In addition, if you have several bank loans at the same time, a consultant can help you develop a strategy and prioritize which debt must be resolved first. If your consultant is professional and experienced, they know exactly what type of debt and interest rates should be resolved first, so that over time you can still prepare money to pay for the remaining debt.
Learn from mistakes
Again, even though getting into bank debt can be traumatic, you can still take lessons. Don’t make this give up and be scared of the bank. Instead, you can learn a lot from situations that you have experienced. This can teach you to more wisely use a loan from the bank. You can learn to properly calculate the ability to pay before deciding to take a loan.