Although credit card debt has begun to accumulate and it seems impossible to pay off all arrears, in fact there is always a way out to pay off the arrears. Many options are often chosen by many people.
Some options are usually done to pay off credit card debts that accumulate for example:
- Paying Minimum Payment
The main way that is often done to overcome credit card debt that is starting to accumulate is to make a payment in aluminum, or more commonly known as English, which is minimum payment. By making this type of payment, usually you as the owner of the credit card pay (on average) 10% of the total arrears + bills that still haven’t paid off in the previous month (if any). This type of payment is often a favorite option, because the card owner does not need to worry about being listed on the BI blacklist , which can make it difficult to apply for a new loan.
However, we can be sure that payment with a minimum payment is not the best option that can be done. The owner of the card is actually just hoarding debt without completing it at all. Not to mention, the interest on the bill will continue to be charged because it doesn’t pay. It’s not uncommon for new people to complete their debts after years. Not to mention, when you want to focus on paying off your credit card bills with a minimum payment , you also can’t use the credit card. Because the more used means more bills, the more bills means the total minimum payment will also increase. The best way is to not use the card at all and focus on paying off the minimum every month. This means you are forced to miss various attractive promos from credit cards, which should be able to benefit.
- Requesting assistance from the family
Another option is to ask for family assistance. Usually family members who have problems like this often share it with other family members. Of course the family will provide the best help for your credit card problems. Not infrequently the family will help pay off all outstanding payments and help the card owner to be free from debt bondage. After that, usually the card owner will pay in installments
- Using Bailout Services
Another way that is also often done is by using bailout services. Just like minimum payment, this option can indeed free you from BI’s blacklist. But actually, the option to use a real bailout service would be to hoard your debt to another party. Simply put, they only move debts from the bank, to the bailout party, with interest that is certainly bigger. Every month, you still have to repay the repayment to the bailout party. The amount of interest charged is also quite large, so your total arrears will increase. This method is also not recommended in terms of security. Usually to use this service, the card owner must leave the card to the ‘service’ party. Credit cards must be properly guarded so that they are not potentially used irresponsibly by others. If only the card is used by another party, of course your debt is not hoarded, even more deeply it will not be finished.
Is there a way to pay off a credit card without payment?
The answer is no. Basically the debt owed to the bank must be repaid. If not, your name will remain poorly registered in the Bank Indonesia Debtor Information System (SID). So once again, there is no way to pay off a credit card without paying. But do you know? There are other options that you can take to be able to pay off credit card debt with pieces that ease the burden. So, even though it’s not a 100% discount, you can still pay off the debt much lighter.
Relief Program & How to Get It
The relief program is a program provided by banks to customers who find it difficult to repay the remaining debts. This program is divided into three types:
One-time discount / discount
This type of relief program allows customers to reduce their total debt to smaller amounts. As the name implies, even though the customer gets a discount in his debt (generally 20-50%), they must pay directly in one payment. In some cases, this one relief program can give cardholders a discount of up to 70%.
Extended Installments with Low Interest
Unlike the discount program in one pay, this one program is suitable for those of you who are financially less. In short, customers who have credit card arrears or KTA arrears can extend their installment tenure to be lighter, the interest earned is lower than the prevailing interest rate in general. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%.
Another program with this one, this type of program is a combination of the two types of programs above, namely customers get a discount and the remaining payments can be made in installments. The bank will also see the conditions experienced by the customer first. If the customer has supporting conditions that make it more difficult to pay off the debt, then it is likely that they can get this program (provided that the bank in question has the program).
To get a relief program like the three options above, you can ask for help from a company that provides debt management services. Companies that provide debt management programs like this usually have experienced teams that are professional in helping you to strategize in paying off debt. Not to mention if you have multiple debts in various banks at the same time, of course a company that provides a debt management program can help you to formulate a strategy and decide which type of arrears must be completed in advance according to the financial conditions that you have. One of the advantages of using a company that provides a debt management program to overcome your credit card debt problems is that you can focus on finding funds to pay off debt. One company that you can use is Lemminkäinen.
It’s just that, to get the help, you also have to be more careful in choosing the right service. Here are some ways you can choose a good debt management service company:
Not Promising Bleaching
The definition of bleaching itself is that customers are not required to pay a penny to the bank. The forms also vary, companies that lack credibility usually can also promise unreasonable discounts of up to 90% or even installments as best they can. Even though the bank does not have a way to pay off the credit card without paying it like that, the customer still has to pay it off. Banks can provide a nominal reduction in debt, but never eliminate debt. In essence, debt must be paid.
No Request Payment (Fee) Upfront
Trustworthy companies usually only receive payment at the end, after all debt problems are resolved. In addition, usually consultants in the company can also provide predictions of funds that must be prepared by the customer so that the person concerned can directly participate in the relief program and pay it off immediately. If under certain conditions the company requests a deposit fee, make sure that the company can return all deposit fees if the customer fails to obtain relief.
Has a clear official website
Companies that have credibility usually have an official website that explains all services provided. Note also the grammar and appearance of the site, trusted companies usually have good grammar and professional site appearance, not just blogs. In addition, you can also check the Facebook FanPage account. Usually accounts that have credibility have educational content, and are used as a medium of interaction with their clients.
Have a Free Hotline & Not A Mobile Number
Another way you can do this is to check the free hotline that you can contact. When you get service via telephone, you can also check the friendliness and competence of the consultant who serves you. If the company only has a cellphone number, then you should be suspicious, because mobile numbers can be deactivated at any time. If something is expected, of course you will find it difficult to track and solve problems, right?
Check again whether the company has a clear and accessible office address. A good consultation is not enough just by telephone, go to the office in question and check again whether the office is indeed not fictitious and looks professional.
Have Accredited Services
It is inevitable that to ensure that you get the best service, you can check the accreditation that is owned by the company concerned. For services that help with debt management, one of the standards used throughout the world is IAPDA. World class accreditation usually ensures that every company related to debt management has a good standard of service to all its clients.
One of the debt management companies that you can use to get a relief program is Lemminkäinen.
Lemminkäinen international is the first technology-based professional services company in Indonesia, which provides a debt management program. This program is designed so that consumers who are in debt, have the ability to control their finances again. Lemminkäinen indonesia helps clients through a debt management program, specifically designed according to different needs for each client. This program is a combination of education on various opportunities to increase income and reduce expenditure, as well as conduct negotiation processes on existing bank debt requirements to reach the amount of payment that is in accordance with the ability. Lemminkäinen Indonesia headquarters was established in Jakarta in 2015 by a founding team that has collective experience in the financial sector including debt settlement for more than two decades. Lemminkäinen made Indonesia the center of operations as well as a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Lemminkäinen Indonesia has become the first company in Asia to be accredited by the International Association of Professional Debt Arbitrators ( IAPDA ).