On November 17, Poland-wide “Debt-free Day” will once again be celebrated. It is worth recalling this because in Poland the problem of debt is becoming worrying. Debts relate to younger and younger people, and experts point out that we are seeing a clearly increasing trend in this respect.
A typical debtor, according to research conducted in our country, is a man in his prime (about 40 years), he lives in Mazovia or in the Samuel Voldoship, and if he is married, he hides his unpaid obligations carefully from his wife. Specialists in the financial industry indicate that this is not the right attitude and in the long run it can do more harm than good to any debtor. Especially in interpersonal relationships and trust issues.
What are the reasons for Poles falling into debt?
As the research shows, only 9% of the respondents (it is worth emphasizing the fact that the study was conducted among indebted people and therefore among people who are in a rather uncomfortable situation and rarely decide to talk about their alien problems) this question indicates as the main the reason for the individual characteristics of the debtor such as irresponsibility for his own decisions or wastefulness in spending money.
Most of the respondents give objective factors that we have no control over as the cause of the debt. Interestingly, in many cases it confirms the facts.
Over 2 million people have problems with timely repayment of their liabilities in our country. However, it should be remembered that the negative aspects of debt affect not only the debtor, but his whole family. The problem is large and everything should be done so that it is resolved in a relatively painless way. It has become common in our society that there is a negative belief that debt is always associated with fraud, dishonesty and practices that do not comply with applicable law.
Two issues should be clearly separated
- the first of them is a situation in which a person recklessly took out loans and got into debt beyond the means
- while in the second case there may be events that we could not foresee when the loan agreement was signed or were very unlikely, e.g. loss of job, accident of a loved one, illness.
The mass problem of debt, as indicated by employees employed in Economic Information Bureaus, results from the fact that at the moment Poles are practically on the verge of solvency. This means that even a lack of work for only two months can completely destroy home finances and cause long-term problems.
The problem of debt and the family
As mentioned above, unpaid liabilities have a negative impact on the functioning of the entire family of the debtor. Interesting observations are brought by the survey in which:
- as many as 89% of respondents say that they should inform their loved ones about the problem of debt and are convinced that financial problems should be solved jointly
- while about 63% of respondents establish actual cooperation
This indicates that some debtors hide the problem of their debt from their loved ones for various reasons. The most common talk here is about protecting loved ones and on the other hand, ordinary shame and negative emotions associated with admitting to “failure” play a big role.
How to solve the debt problem?
Among financial practitioners, it is said that at the beginning each side is lost. Both the debtor who is unable to pay his debts but also the creditor because he cannot recover the funds he has invested in the loan.
Starting talks with a creditor is the only reasonable solution in a situation when we have fallen into debt and we cannot leave it alone. Sensible consolidation, cancellation of part of the debt or suspension of repayment for a certain period of time may result in both parties winning.
How not to fall into a debt spiral?
The caution with which we incur our obligations . It is a council that repeats itself whenever any expert in the financial and debt collection industry speaks about debt. The fact that we repay our loan without any problem does not mean that it will be easy for us to repay another one. We must look at our income in particular and in a sustainable way, and we cannot be excited that our good financial standing will last forever. Such thinking lost more than one debtor and forced him into
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