Even the youth often makes debts during consumption. Shopping has become a pastime.
Tempting installment offers, online ordering options and the latest smartphone for the supposed zero tariffs make shopping easy and convenient. Consumption on credit is part of everyday life: at the end of 2017, consumer loans granted in Germany amounted to € 237.9 billion. These were granted as an installment loan, loan, credit line or overdraft facility. For what? For the financing of goods consumption, soz. For example, the latest flat screen TV, a new car, or a vacation trip.
As easy and convenient as the purchase is on the heels, these debts are also dangerous. A single smaller consumer credit may still be harmless. It becomes difficult and risky when a consumer finances several purchases through loans. Why? For several reasons:
- There is a risk here that the consumer loses track of things and forgets to pay his installments.
- Anyone who overestimates their credit rating and has made too much debt is quickly in distress. If necessary, reminder fees and default interest may be added to the loan amount owed.
- The result: the debts grow while the income remains the same. Escaping this debt trap is not easy.
- Then falls the usual income unexpectedly away. For example, because of sudden unemployment, there is a risk of insolvency or over-indebtedness.
- If you do not pay your debts permanently, creditors can initiate a judicial reminder procedure and subsequently execute the foreclosure.
Super fast loan debt help for you
Consumption on credit makes happy only at first.
As big as your own wishes may be, consumption only makes you happy at first, and that only for a short time. If the consumer then realizes that he has taken over with his latest purchase, it is over with happiness. Therefore you should avoid such purchases :
- Think carefully about whether you really need the goods you want. What happens if you do not buy them?
- Check exactly if you can really afford the purchase. If your financial situation does not allow you to buy, you should rather wait with it instead of taking out a consumer loan.
- Avoid loan offers, even if they seem so tempting and cheap.
- See not only the much sought-after new TV but also the unpleasant consequences of consumer debt.
- Think about what exactly triggers the buying stimulus on you and try to get around these triggers.
- Consider terminating your disbursement credit. The interest rates for its use are enormous, and credit lending continues to increase over time. If the MRP is exhausted, higher interest rates will be charged on overdraft and the bank can terminate the loan.
If you already have too much debt, you should immediately start a debt consolidation, preferably with ConsolidationNow.com. Recognized public counseling centers can also advise you on how to change your consumer behavior and avoid debt in the future.