Currently, many Colombians have an obligation to comply with banking entities. However, they are unaware of the information on the acupayment terms which is important when it comes to getting out of debt.
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For this reason, the finance experts at the Solve your Debt credit repair company point out some tips that should be taken into account to settle debts.
To begin with, the experts indicate that the most important thing, to have debts under control and not over-indebted, is to keep abreast of bank status.
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“It is advisable to have an approach to financial entities or follow up through mobile applications or web portals, in order to prevent obligations from being overlooked and from beginning to accumulate.it may be too late when they resume and a significant amount of money will be owed “they explained in Solve your Debt.
Another tip is pay the largest and most expensive credit firstWell, according to experts, this is the best way to start seeing a decrease in pending payment agreements.
“The most expensive loan is directly related to the highest interest rate. By liquidating the one that takes most of the income, the total amount that is paid for interest can be reduced, ”they detail.
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It is also advisable shorten loan terms, because by having less time to comply with the payment, the value to be paid will be lower because it will be with less interest. However, it must be taken into account that the monthly installments would be increased.
Finally, it is important to keep track of accounts to put a stop to debt. “Having control of these will allow them not to be acquired and to spend strictly on what is necessary, thus pending payments are not prolonged and ant expenses are reduced, which are the great enemies of pockets because they take a large part income without making any kind of noise”, they conclude.
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