When faced with high debt, it is important to pay attention to debt optimization. Taking a debt of 2 million as an example, when the debt exceeds the daily income level and repayment ability, it is necessary to maintain sufficient cash flow to maintain normal living expenses. Therefore, applying for a credit card, borrowing an online loan, taking out a loan to maintain a loan, or tearing down the east wall to make up for the western wall are not wise moves, these behaviors will only lead to problems such as poor credit investigation and increased inquiry records, which are extremely unfavorable to the debtor. This is where debt optimization is particularly important. Debt optimization refers to re-planning debts according to personal debts, adopting the most suitable repayment plan, minimizing repayment costs, and reducing repayment interest as much as possible. Its core logic is to reasonably plan the repayment period, repay the debt at the lowest interest rate, and solve the debt problem more conveniently. Debt optimization has many advantages and can help debtors pay off their debts more easily. So, how exactly does it work?
First of all, protect personal credit and replace revolving loans with non-revolving loans.
→First, protect personal credit, this is the first priority. Revolving loans can reduce credit inquiry records and loan records, and avoid credit investigation changes.
→2. Reasonably plan the term of the loan, and negotiate the installment or extension. Under the same debt amount, the shorter the loan cycle, the greater the repayment pressure and the weaker the ability to resist risks. Therefore, it is necessary to consider the credit period of the loan according to the personal income, and change the short-term repayment period to medium and long-term.
→3. Use this product with flexible repayment method to replace equal principal and interest products, increase capital utilization and turnover rate, and reduce monthly payment pressure.
→4. Use one large loan instead of multiple small and scattered loans and credit products, i.e. "greater than one". At the same time, this can also ensure the cleanliness of personal credit and the convenience of repayment.
→5. Determine the priority of repayment funds. Choose reasonable lending institutions according to individual qualifications, such as banks and private lending institutions. However, this also needs to be arranged according to individual circumstances.
→6. Use mortgages instead of credit loans. Low mortgage interest rates, long cycles, and flexible repayment methods can effectively improve an individual's ability to resist risks.
Although debt optimization can help debtors reduce the pressure of debt repayment to a certain extent, the most important thing is to plan your personal assets reasonably, borrow reasonably, maintain positive consumption habits, and increase income.
