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Debt Consolidation Can Save You from the Financial Abyss

People who have accumulated debts over the years that are impossible to repay can in some cases use the debt consolidating. Not everyone can use the debt consolidation at the moment that it has debts, because there are quite a few conditions attached to it. One of the points being viewed before you can use the debt consolidating is how you got to the debt. You can only make use of the debt consolidating if the debts have arisen through no fault of your own and you have done everything to rectify it.

Paying off debts as from, for example, gambling, taking out huge loans that can never be repaid and buying hugely expensive products on the basis of repayment will not be paid by the debt consolidating.

Explanation of debt consolidating

Explanation of debt restructuring

The moment you choose to use the debt consolidating and you also meet all the conditions for getting debt consolidating, you can request this from your municipality. You are attached to the debt consolidating for 3 years, during these 3 years it is the intention to pay off as much as possible of your debts. Almost all income will be passed directly to the creditors, so during the 3 years you have very little money at your disposal to live on.

After you have paid as much as possible to the creditor for 3 years, the rest of the debts will be canceled, so you can start your financial life again. If you use the debt consolidating, you will not have any control over your income, as it will automatically be passed on to the creditors with whom you still have debts. If you refuse to cooperate during the debt consolidating process,

A new life after the debt consolidating

cash

The debt consolidating as we know it in the Netherlands is an ideal arrangement for people who have fallen deep into debt through no fault of their own, for example fraud is misleading, these people can start again after paying off the debt after 3 years of paying Off. life.

The municipality pays the debt consolidating from the tax money, so you don’t have to pay a premium to be able to use the debt consolidating.

During this process you may keep very little of your income

During this process you may keep very little of your income

View for current conditions for eligibility for debt consolidating on the government website, as these change regularly. It is not desirable for everyone to make use of the debt consolidating when you have few debts you often do not even qualify for the debt consolidating process.

During this process you may keep very little of your income, which makes it difficult for you to make ends meet, this is not desirable for everyone. For most people, however, the use of debt consolidating is the only way out of debt. Read more about get out of debt!

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