Instead of bothering to overcome the fear of not being able to pay credit card arrears, it would be better if you look for ways to deal with bad credit cards first. One thing that can be done is by following a debt management program.
Programs like this can be very useful for you
Not only being able to get a relief program that makes it easy to pay off arrears, you can also get various suggestions and options to optimize assets, skills and work experience so you can increase your income in order to pay off debts; and various ways to cut monthly expenses.
One of the most interesting things about this is getting a credit relief or restructuring program. According to the Bank Indonesia Regulation, the relief program or commonly referred to as credit restructuring is an effort to repair the Bank in credit activities against debtors who have difficulties in fulfilling their obligations. The results of this credit restructuring can usually alleviate customers so that they can better afford to pay.
Speaking of lightening programs that you can get, here are some types of relief programs that you can get:
One-time discount / discount
This type of lightening program makes customers able to get a discount with a nominal that is usually quite lightening. As the name implies, even though the customer gets a discount in his debt (generally 20-50%), they must pay directly in one payment. This type is certainly not suitable for those of you who do not have enough savings, which can be directly allocated to pay the remaining arrears that have been discounted in one payment.
Extended Installments with Low Interest
The second is to pay more lightly. Usually with this program customers can pay in installments at a much lower interest rate. If the current normal interest is in the range of 2.25%, then there is a possibility to get interest of only 0-2%, with a tenor of up to 60 months (in certain cases). The advantage of this program is that you can pay little by little without directly dredging savings.
For installment discount programs, you can usually benefit from the two types of programs above. But because of its combined nature, of course you cannot pay in installments throughout the installment program, generally as much as 6x payments. Likewise for discounts, you don’t get a discount for a one-time discount program. This type of program is only available in some banks. In addition, the bank will also see the conditions experienced by the customer first. If the customer has supporting conditions that make it increasingly difficult to pay off the debt, then it is likely that they can get this program (provided that the bank has the intended program).
You can get a relief program like this, one of them is a debt management program provider. Usually companies like this have consultants who are professional in their fields, so they are able to give you advice in developing strategies in resolving the types of debt that are considered more priority to those with less priority. Services from companies like this will be very useful especially if you have multiple debts in several banks at once. The high level of difficulty in overcoming this will certainly make you more helpful if you use the services of a debt management program.
One of the providers of debt management programs that you can use to overcome the problem of bad credit cards is practice.
international practice 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. Indonesian practice helps clients through a debt management program, specifically designed according to 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. The Indonesian practice headquarters was established in Jakarta in 2015 by a founding team that had collective experience in the financial sector including debt settlement for more than two decades.
The practice of making Indonesia as the center of operations is also a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Indonesian practice has become the first company in Asia to get accreditation from the International Association of Professional Debt Arbitrators ( IAPDA ).