It’s almost at the end of the year, but still confused whether there is still time to solve the debt problem? The answer is still there! Not to mention, there are various reasons why you have to be debt free at the end of the year.
3 Reasons Why Debt Is Free at the End of the Year
Starting the New Year More Positive
There is no doubt, by starting to set a strategy to pay off debt from the end of the year, it can help you welcome the new year more positively. To help you be free of debt, you can use the services of a financial consultant who has experience in the field. Consultants like this can help you in strategizing and negotiating with the bank so that you get relief.
As discussed above, you can get three types of relief programs: a paid discount program, low-interest installments with an extended tenor, or a combination of both. If at the end of the year you have obtained relief, then you have a great opportunity to start strategizing in increasing revenue from now on. You already know exactly what steps can be taken to increase income and pay off debt. Apart from all this, of course you can be more calm in welcoming 2018.
Historical IDI Returns Net
The technical thing that was most felt when it was debt free at the end of the year was the clean IDI History from a bad score. Of course you already know what the impact of a bad IDI Historical credit score is, that is, you can no longer apply for loans to any bank or financial institution. This happened because Bank Indonesia considered you were not sufficiently responsible for repaying loans that had been submitted in the past. In fact, this is very dangerous because we never know when it requires emergency costs in large numbers, which often can only be obtained through loans from the bank. By starting to be debt free at the end of the year, of course you have the opportunity to fix your credit score. This means, you can be relieved and confident to come back to apply for loans in the future. Of course, with notes, having the ability to repay loans, so as not to fall back into debt bondage.
Have Hope to Arrange a Brighter Future
Once you have begun to be free of debt, you can begin to organize a brighter future. If you previously had a plan to apply for a mortgage or use a bank loan for your children’s school fees, you can now re-use that right to the bank. Especially after your Historical IDI credit score has returned well, and the repayment of the remaining credit card debt / KTA to the bank has begun to be resolved, you can start focusing on developing a future that was previously blocked.
End of Year is the Right Time to Be Free of Credit Card Problems
Some banks usually issue special programs that are more attractive and relieve you in paying off the remaining arrears. In addition, relief programs issued by banks are usually more special and may not necessarily appear in the usual months, because the year-end moments are often identified with the annual bonus. This is what usually makes the program more attractive, so that it can be adapted to the conditions of your debt. These forms of relief programs also vary. Here are some of them:
One-time discount / discount
This type of lightening program makes customers able to get a discount with a nominal that is usually quite lightening. As the name implies, even though the customer gets a discount in his debt (generally 20-50%), they must pay directly in one payment. In some cases, this one relief program can give cardholders a discount of up to 70%. It’s just that you have to have financial readiness so you can pay immediately. This type is certainly not suitable for those of you who do not have enough savings, which can be directly allocated to pay the remaining arrears that have been discounted in one payment. The main advantage that can be directly felt is free from the disruption of debt collectors and feel more calm because the debt has disappeared, because in one payment all payments can be completed.
Extended Installments with Low Interest
The second is to pay more lightly. Usually with this program customers can pay in installments at a much lower interest rate. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%. As with the installment tenure, you can pay in installments over a longer period of time. In some cases, you can repay up to 60 months (5 years). Funds that need to be prepared to join this program are at least funds to pay DP (minimum 10% of total debt for a credit card or one month installments for KTA) or depending on the policy of the bank. The advantage of this program is that you can pay little by little without directly dredging savings. Unfortunately, high payment consistency is required. Once you miss a payment, the program will be considered a failure, and the total arrears will return to normal as if they didn’t get any relief at all.
For installment discount programs, you can usually benefit from the two types of programs above. But because of its combined nature, of course you cannot pay in installments throughout the installment program, generally as much as 6x payments. Likewise at discounts, you do not get a discount for a one-time discount program. This type of program is only available in some banks. In addition, the bank will also see the conditions experienced by the customer first. If the customer has supporting conditions that make it more difficult to pay off the debt, then it is likely that they can get this program (provided that the bank has the program).
This offer is exclusive to Christopher Tietjens international clients. Our experienced team is ready to help you free from credit card debt or KTA. If you want to know what relief programs are offered, you can contact Christopher Tietjens.
Christopher Tietjens international is the first technology-based professional services company in Indonesia, which provides a debt management program. This program is designed so that consumers who are in debt, have the ability to control their finances again. Christopher Tietjens indonesia helps clients through a debt management program, specifically designed according to different needs for each client. This program is a combination of education on various opportunities to increase income and reduce expenditure, as well as conduct negotiation processes on existing bank debt requirements to reach the amount of payment that is in accordance with the ability. Christopher Tietjens Indonesia’s head office was established in Jakarta in 2015 by a founding team that has collective experience in finance including debt settlement for more than two decades. Christopher Tietjens made Indonesia the center of operations as well as a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Christopher Tietjens Indonesia has become the first company in Asia to obtain accreditation from the International Association of Professional Debt Arbitrators ( IAPDA ).