Paying credit card bills is a strategy. You can’t arbitrarily allocate money to pay a number of bills, because if it’s not too well-designed, the financial flow might fall apart. Life becomes too deficient or even excessive, so the initial goal of paying off debt and reaching for a fresh, fresh start becomes lost. Here’s how to pay credit card bills that you can try:
Calculate Total Debt and Personal Deadline to Pay Off Debt
First of all, try to calculate the total credit card debt as well as the current KTA. Not only the total debt, also note how much interest goes. So, you can know exactly how much debt you have to settle and how much debt must be prepared so that you can be free from debt problems.
Do not forget, also make a clear time target for yourself so you can be more motivated to be free of debt. For example, you want to be free from the problem of credit card debt of Rp. 10,000,000 by the end of 2018. From this goal, you can start to estimate how much money you have to set aside each month, and how much money you have to make to be able to pay your debt and pay monthly expenses.
How to pay credit card bills will not be separated from how you manage finances every month. We recommend that you rearrange the priority of monthly expenses so you can save as much as possible, and minimize expenses. Reset how much the weekly budget you can spend to be more organized.
To be more organized, arrange expenses sequentially according to their priorities. First, set aside money first for certain expenses every month. Some routine expenditures are allocated every month such as expenses for ongoing credit installments, insurance, child SPP, and allocation of funds for electricity and water bills.
After setting priorities, you can continue to manage the budget in other categories that are more flexible, such as the need for daily meals, transportation costs, and the budget for entertainment. Why is it flexible? Because for all three types of categories you can adjust the rest of your budget. You can easily choose other options, for example if transportation costs are usually more expensive because traveling to the office by car, you can reduce expenses to be lower by using public transportation or switching to motorbikes.
For these more flexible categories you can reduce the budget much lower. The rest of the existing budget can of course be directly allocated for savings, and used to pay credit card bills.
Save More Diligently
Do not forget use savings to be a way to pay credit card bills or KTA unpaid. By saving more regularly, you can raise funds faster in order to overcome credit card or KTA issues that still haven’t paid off. Set aside at least 10-30% of your monthly income to be saved immediately. In addition, in order to be able to save more regularly and not be easy to use, you should separate a special savings account with an account that is routinely used for transactions.
Here it is one of the latest methods to help you pay credit card bills. Refinancing is a step taken by using a new loan to pay off old debts. Usually by refinancing, you can get a new source of funds so you can pay the remaining debt that is still running on the bank. The requirements that need to be fulfilled to do refinancing are to guarantee the assets you have, usually a house (property) or a car (motorized vehicle). Later, these assets will be used as collateral and estimated, so you get a new loan with interest that tends to be lower than the interest that goes on in the bank. The new source of funds that you get from the refinancing program can be directly used to pay off outstanding credit card bills.
How to join the program refinancing like this? You can contact a consultant who helps your debt management , to get recommendations from multi – finance companies that can be trusted in providing loans. In addition, by getting a recommendation from your debt management consultant, you can usually choose a multi-finance company that can facilitate you in providing funds in accordance with the assets you have.
Participate in Debt Management Program to Be Free from Debt
A fast method that can be used as a way to pay credit card bills is to take part in a debt management program. Programs like this are usually provided by experienced consultants who can help you get the best relief from the bank.
When following a debt management program, you usually not only get the best waivers, but you can also get consultations from the best consultants. Consultations like this will be more pronounced especially for those of you who have several credit card debts at once, even in various debts at once. By consulting, usually a consultant can help you in developing a strategy to decide which type of credit card debt should be completed first, according to the financial conditions that you currently have.
Here are some types of relief programs that you can get by following a debt management program:
One-time discount / discount
This type of relief program allows customers to reduce their total debt to smaller amounts. 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%.
Extended Installments with Low Interest
Unlike the discount program in one pay, this one program is suitable for those of you who are financially less. In short, customers who have credit card arrears or KTA arrears can extend their installment tenure to be lighter, the interest earned is lower than the prevailing interest rate in general. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%.
Another program with this one, this type of program is a combination of the two types of programs above, namely customers get a discount and the remaining payments can be made in installments. 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 in question has the program).
If you want to try to use a debt management company to get a debt management program, then you can try the services provided by Janie Crawford.
Janie Crawford 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. Janie Crawford Indonesia helps clients through debt management programs, specifically designed to suit 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. Janie Crawford Indonesia headquarters was established in Jakarta in 2015 by a founding team that has collective experience in the financial sector including debt settlement for more than two decades. Janie Crawford made Indonesia the center of operations as well as a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Janie Crawford Indonesia has become the first company in Asia to be accredited by the International Association of Professional Debt Arbitrators (IAPDA).