Debt burden in Switzerland: which solution?

When are we speaking about debt burden?

We are speaking of debt burden when a person is not able to pay is bills on time. Whether it is a bill linked: to a personal credit, a credit card repayment or even taxes. This situation often happens when there is a decrease in the income. In this case it is important to react quickly. Even more that solutions are existing.

The personal loan: a solution in case of debt burden?

It is common when it comes to debt burden to turn to a persoanal credit. Nevertheless, it is not necessary a good solution:

• Taking a personal credit is a short term solution and you will have to reimburse new debts.
• Getting a credit in debt burden situation is usually very difficult. Indeed, the banks don’t want to lend money to people who are not solvable, and the law don’t allow it as well.

The debt consolidation: a possible solution.

The debt consolidation is a solution who consists of regrouping all the debts together in one personal loan. This solution can be effective because this one will come with lower monthly bill. Thanks to:

• A lower interest rate
• A repayment on a longer duration

Nevertheless, you must keep in mind that a debt consolidation is generally considered like a consumer credit. Thus, people who already have prosecution or are late in their bills won’t be able to benefit from this service.

Other solutions in case of debt burden: call on a specialist!

The better solution is sometimes to call on a specialist. The aim is to confide all your debts to an organism who will handle the repayment for you. This one will insure that you have enough money to live. More specifically, the organism will take care to optimize your financial situation:

• Subside request.
• Negociation towards the creditor.
• Reduction or removal of the exessiveness or useless charges.
• Preparations of the taxes declarations, control of the taxation.

To whom adress to?

If you have financial problem it is important to call on a specialist. This one will propose to you the most appropriate solution depending on your situation. Via debt relief it is easy to contact a professional on the field.