“Who pays rests … and who receives more.” That is one of the many phrases that can be found in the proverb that urge us to promptly fulfill our financial obligations, since this will be in our own benefit as well as that of our debtors.
Having debts, is not a tasteful dish. However, in many occasions having them is unavoidable in order to carry out important transactions in our lives, such as buying a new vehicle or also requesting a mortgage in order to purchase a home. Being in debt does not have to be a problem at all as long as you are aware of the obligations contracted, the volume to be repaid and the maturity term.
Below, we discuss some keys to efficiently manage your debts and that having them does not cause any headache.
How do I know if I have outstanding debts?
The first step to be able to carry out an optimal management is to be fully aware of all the debts we have.
In principle, it is normal for a person to be aware of all the financial obligations that he must fulfill and, if we delay in paying any, it is normal for our debtors not to send any notification or notice of payment.
However, on many occasions we can accumulate the payments and obligations that we may have pending and forget about any. It is also perfectly possible that when we make a change of address or move to another house, the receipts that usually reach our mailbox do not arrive in the first weeks at our new address. All these factors can cause us to incur unwanted debts that we have to pay.
In general, the debts that we can usually have without being aware of them are with the Treasury, with the municipalities and the General Directorate of Traffic (DGT).
- Debts with the Treasury, usually obey tax obligations which we have not fulfilled within the term conferred by the Tax Agency. In these cases, if we suspect that we have delayed the payment period, it is best to consult the website of the State Tax Administration Agency (AEAT) and make an inquiry using our PIN code, and check if we are up to date. with the treasury. If we do not have the PIN code, we can also make that consultation in person by going with the official documents that we request. City councils are other administrations with which we can unintentionally contract debts.
- For its part, the payment of certain taxes (such as the IBI) or of certain fees for municipal services may be obligations that have been overlooked but, to know if you are aware or not, it is enough to go to the mayor’s office or It is good to do the same management over the Internet if these citizen services are computerized in that municipality.
- Finally, traffic fines can be another of our sources of involuntary debt. In that case, who we should contact is the DGT to be aware of the fines, or a delegation from the Ministry of the Interior. Also from the city council of our city it is frequent to be able to carry out this type of management.
How to pay my debts if I don’t have money?
Having unpaid debts and not attending to them, even if they are unaware of their existence, can lead to penalties in the form of default interest and become part of a delinquent file.
In the efficient management of debts, not appearing in a register of this nature or, if it appears, leaving it as soon as possible, is one of the most fundamental tips to comply with. Being included in lists such as those prepared by the RAI, ASNEF or Badexcug can be a handicap when requesting a credit either by refusing, or by granting yourself to conditions much less advantageous than those obtained by a person not listed in the file.
Furthermore, these records, by also sharing information with non-financial companies, can make it difficult to contract certain services with a company.
As we say, in this type of situation, the urgent thing is to get out of those black lists as soon as possible, even when the necessary liquidity is not available at the moment to pay off the debt. How? Asking for a loan from financial companies other than traditional banking is especially useful for solving problems of this nature.
Take out a loan to pay off your debts
Taking a loan to pay off your outstanding debts is a common alternative, which has several advantages:
- One of them is that, with a credit large enough to be able to pay off your debts, what you get is, in a way, to unify your financial obligations.
- That is, instead of having several debts to pay, you end up having a single debt to repay and it is with the entity that has granted you the credit.
- Another advantage is that when you apply for a loan and use it to pay off outstanding debts, you get several things:
- The main one: earn the right to leave the registry, have your data deleted from there and, therefore, not be considered delinquent.
- In addition, by requesting a loan, what you get is to postpone the payment of your debts until the credit expires and, with this, delay repaying it in time. So, with a loan you can defer your financial obligations over time to a more favorable time to settle them.
Of course, it is in your hands to weigh the pros and cons of using a loan to face situations of this type, the objective of this post is to serve as a possible guide for action.