How to resolve debt with banks with ease?

Solving debts with banks with ease and without headache is possible. For this, you need to organize yourself, calculate how much you owe, what you actually afford and have all the information regarding the contract and conditions. Here’s how to resolve debts with banks in this walkthrough:

Calculate the total of your debts with banks

Calculate the total of your debts with banks

The first step in resolving debt with banks without a headache is to be clear about your situation. It is important to only start trading when you know how much you can actually pay monthly. For this, calculate the total of your debts, not forgetting to include the interest charged. Then, put down your monthly net income and subtract all your essential expenses like housing, food, and health. After this account, it’s time to cut back on superfluous expenses. The final balance is what you can pay monthly to the bank to pay off your debts and should be used on the basis of the negotiation.

Review your contract with the bank

Before starting to renegotiate the debt, it is important to analyze the contract with the bank to make sure that there are irregularities, such as charging additional fees or provoking considerable losses to the consumer. It is also advisable to review the calculation of the balance due. If you suspect that something is wrong, it is important to look at consumer protection agencies and the Central Bank.

Search for conditions that other banks offer


If you find a financial institution that offers better payment conditions, you can migrate your debt to it. Search for interest rates, terms and benefits offered by other banks. If they are better, negotiate with your financial institution to offer similar terms. If you are unsuccessful, migrate your debt.

Deal with the bank and the manager

Although some banks already allow debt negotiation to be done online, the best option is always to go to personal contact with the financial institution. Find your manager and make a proposal accordingly. Do not forget the document in writing everything discussed, even considering the signing of witnesses, if the agreement is made at the bank branch. If your bank only accepts negotiation via telephone, keep the service record.

Review the bank’s counter-proposal

It is important not to accept at first the counterproposal made by the financial institution. Ask for time and calmly review all the terms of the agreement. Check that the payment deadline is not very long and the interest rates charged are in line with those that are practiced in the market. If you consider that the conditions are not favorable, do not hesitate to present a counter-proposal according to your possibilities.

Avoid new debts with banks

After renegotiating your debt, it is important to be careful not to unbalance your finances again. Avoid new debts so you do not run the risk of having to deal with the bank at second time and run the risk of having even worse payment terms.