What is debt planning, and do you understand it the same way? – Financial & Insurance News

What is debt planning, and do you understand it the same way?

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Just How the Financial Obligation Snowball Technique Functions

Dealing with liabilities can not be dealt with in the problem of liabilities, but above the people, to deal with the essence, otherwise you deal with more and more, never finished.
So what is the essential problem? It is the problem of people themselves, it is the problem of thinking, read the liabilities, dare to face the liabilities, out of the sense of indebtedness, the rest of the collection, default, etc. are small problems, all the problems of knowledge. As long as you learn how to cope with, how to avoid risks, how to defend their rights, protect themselves, everything else is not a problem. The most important thing to solve the debt is not money, is time. Finding the energy takes a little more time, and there will be a better future.
Many debtors are confused as to why debt planning is necessary. Debt is actually a tool that can be used by people who can use it in a sequential and lasting manner, making debt as a lever for their positive financing and making money out of debt, and people who can’t manage it are prone to face out-of-control debts, even to the point of being fully overdue and life falling into the doldrums. It’s like a drowning person, dying, desperately trying to grab anything to be rescued, even if it’s a straw. Nowadays, many people with out-of-control financing suddenly fall into a debt crisis, making themselves heavily indebted, tearing down the east wall to make up for the west wall, using the loan to feed the loan, followed by having to deal with phone calls, text messages, door-to-door and other kinds of collection, even family and friends will also look at you coldly, this kind of fear, guilt, torture, repression, self-attack, making it difficult for every indebted person to resume normal life. The reason why these negative emotions arise is that there is no debt thinking, no scientific debt management, and never debt planning.
Debt is not scary, what is scary is that a person is not clear about his or her debt status, and many people are even afraid to think about it and face their debt status, just like a person who has a tumor, 90% of the patients do not die of disease, but of fear. So at this moment, you take a piece of paper, each of your debts, the name of the platform, how much you borrowed, how many periods repaid, how many periods left, how much to pay back each month, all written down, perhaps you will write more and more afraid, even the amount of debt exceeds your expectations of a lot, you find that with the current income simply can not afford to deal with. I’ll give you two words first, cutting back, cutting back is a process of high interest rates to low interest rates, low interest rates to no interest. Within the scope of the law, sort out what is against the law, which can be suspended and deferred, which can stop the interest installment, which can be reduced, which drag a delay or even the principal can be discounted, if you figure this out, you can enter the processing phase.
Crisis handling of debt is the process of coping with and defending your rights. When your debt has grown to a certain level, or suddenly out of control, crisis management is the core ability you must master.
The core of handling needs to have two willingness: willingness to repay and willingness to negotiate, and needs to have three abilities: cognitive ability, the ability to defend your rights, and the ability to keep repaying. You need to maintain three attitudes: proactive, positive, and unassuming.
Remember these three positions in the process of coping with and defending your rights, and keep them in your mind to the death.
1, to be able to prove that you have the ability to repay when using a credit card or loan.
2, overdue due to an accident, business failure and other special circumstances
3, have a good will to repay the loan, can do uninterrupted repayment and stage incremental repayment

The best way to flip your debt is to focus, which means to pay attention. When your focus is on debt, it is impossible to achieve a quick flip. Because the external thing like debt is not the stress, it’s what stresses you, it’s your perception of the thing called debt. So the stressor of debt is not the debt itself, it’s your reaction to the stress of debt. Let me give you a cognitive model, and you do it in the order that
A, the debt event activation
B, is your perception of the event
C, your debt stress situation
D, question your B
E, find a new direction
For example, in life you will encounter a variety of problems, when your focus on the problem, your time and energy are consumed in the problem, when a variety of opportunities are unable to enter your world. So you must go to often to question your B, and then to find a new direction
With this content we hope to enable you to read your liabilities, manage them well, and be able to respond comfortably when a debt crisis occurs and do a good job of crisis communications. Our greatest wish is to help those who are suffering from debt, to improve your debt management skills, to solve your pain, and to turn your debt over quickly. We believe in the abiding faith within, and even more so in the seeds of blessings. Whether you have experienced debt confusion or not, we hope you will join us in spreading this love to more people in debt.