Clipping of news on Brazilian Culture, Law and Citizenship
07/29/2015
This article was translated by an automatic translation system, and was therefore not reviewed by people.
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Woman analyze account: Specialist responds that the most effective way to stop the debt cycle
Doubt the Internet user: I am a civil servant and took a R$ 30.000,00 loan to buy a car. However, the vehicle expenses such as insurance and fuel, have left my tight budget. I think to sell the car to pay the debt and eliminate this source of spending. But because of the devaluation of the vehicle, yet not be able to repay the entire amount of the loan. How do I fix this?
Ronaldo Gotlib response *
The first step is to review expenses and cut unnecessary expenses. With a leaner budget, you will find it easier to meet its financial commitments. In addition, by avoiding taking new loans and pay more interest, reduces the risk of financial disarray.
Worth thinking about if you are not focusing only on cutting small expenses that will not make big difference in the budget. In some cases it may be more effective rethink fixed and heavier costs (know how).
If you can not reduce monthly expenses, you can try to remove the debt returning the car. If you do not have this alternative, a way to minimize losses is to sell the car and take a small debt to pay for the value that will remain of the loan.
When selling your vehicle, you should ask to prepay debt in the financial institution. Thus, will ensure your right to pay lower interest on the loan.
You can also consult an attorney to see if the interest charged and fees are not abusive. Otherwise, you can join a lawsuit in court to reduce debt and the amounts paid monthly.
* Ronaldo Gotlib is financial adviser and lawyer in the areas of Consumer Law and the Debtor. Author of the books "Debt? I'M Out! - A Guide to get you out of suffocation, "" Testament - How, where, how and why to do "," Home Ownership or Own Cause - The truth about housing finance "," Legal Guide Borrower and the Borrower candidate " besides being responsible for the preparation of the Debtor Protection Regulations and lectures on financial education.
Source: Survey
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This article was translated by an automatic translation system, and was therefore not reviewed by people.