Lack of financial liquidity and problems with timely repayment of loan installments can happen to anyone. When we decide on a larger loan or even a small loan, we always take into account the current financial condition and income prospects. In a stable situation, timely repayment of installments is not a problem, which is why we are more eager to reach for new loans or short-term loans, trusting that we can cope with another commitment easily. However, we are not able to predict random events that may have a negative impact on our finances. A serious accident, sudden illness or loss of job or a key contractor in business can worsen our situation radically.
Especially when with a large debt we can lose even the whole of life. Debt collection may end not only with the attachment of the bank account and remuneration. It may apply to the car and equipment necessary for normal functioning, as well as to the family home or apartment. What can we do if our debts have been directed for recovery?
Is it possible to distribute the debt?
When our debts are transferred to debt collection, first of all you should not avoid the bailiff and contact the creditor as soon as possible. If contact with the creditor is not possible, it is worth trying to pay the debt in installments to the bailiff. Although the executor in this respect does not have any rights, it is worth trying to get new conditions for repayment of debt through it.
To this end, a letter should be drawn up asking for the payment of the debt in installments, arguing with a difficult material and life situation. The addressee of the application should always be the creditor, because the bailiff’s office after receiving our letter only forwards it to the creditor who responds to our request.
What should the application for payment of the debt in installments contain?
First of all, you should include our personal data, such as your home address, telephone number, in the installment application. Then enter the total amount of debt and a list of all creditors and their addresses. When formulating a settlement proposal, it is best to propose fixed installments. Equal installments spread over time will allow for timely repayment.
The application should also include regrets regarding debt repayment problems and give reasons why we were unable to pay them on time. If it is an accident, illness, loss of job or death of a loved one, it is worth attaching documentation that can confirm the reasons for the difficult financial and life situation. This can be sick leave, medical bills, as well as salary or pensions statements.