How to get out of the debt loop, or how to get out of bank debt are questions that very often alternate on internet forums. Indebted people are looking for advice on how to get out of this situation and get rid of arrears. Nearly 90% of them see solutions in the next loan or loan, which can be repaid by banks, loan companies, debt collectors or even a debt collector. Practically no one can see the simplest and the closest solution that everyone has at their fingertips. There are several ways and ways to get out of debt. Which one is best for you depends on what kind of debt you have and what is their level.

It is very important to determine the category of debtors to determine the possibility of getting out of debt and obtaining help in this area. Maybe it does not sound nice, but it is necessary to present meaningful and, above all, real possibilities of help in getting out of debt.

The indebted can be divided into four categories and several subcategories.

1. Repaying loans in banks – in this category, two subcategories can be specified:

  • repaying loans on time,
  • having a delay in repayment.

2. Repaying loans in banks and non-bank companies – in this category it is possible to distinguish between sub-categories identical to the above, ie:

  • repaying loans and payday loans,
  • repaying the liability overdue.

3. Insolvent debtors – persons who have lost financial liquidity and do not pay their debts.

4. Having bank or non-bank debt collection or bailiff enforcement.

Who and to what extent can count on help in getting out of the debt and bank debt loop?

Persons who pay their bank liabilities in a timely manner, in which possible delays do not exceed 30 days, can benefit from consolidation and exit from bank debts. Consolidation of loans by extending the loan period may reduce the monthly load by up to 50%.

Persons with delays in repayment exceeding 30 days, unfortunately, can not benefit from consolidation of loans. There are, however, available non-bank loans available in the amount that allows consolidation of loans. Unfortunately, their cost is too large to make it reasonable to consolidate their bank liabilities. For these people, other solutions remain to be used, which you will read about later in this article.

Repayable loans in banks and non-bank lending companies can, on time, only recover from bank debt through consolidation. Unfortunately, the banks consolidate only bank liabilities and consolidation of other liabilities, in this case, non-banking, unfortunately, will not be possible.

When consolidating bank liabilities, bypassing payday loans, the issue of creditworthiness will be very important. This is important because some of the non-banking companies have begun placing information on loans in Database. If the bank granting a consolidation loan sees such an entry at Database, it will automatically deduct this credit liability (as it is not consolidated).

Unfortunately, you will have to get out of the minutes in a different way. To this end, it is worth considering using one of the offers of non-bank companies whose parameters enable consolidation. Currently, parabanks offer so-called long-term loans, which can be used for you. They are offered in the amount of up to 15 thousand, and even more for a period of up to 36 months.

Loans repaying in banks and non-bank companies, on the other hand, are in a reverse situation. In the bank they will receive a refusal to grant a loan due to untimely repayment. On the other hand, they can, although partially exit the debt loop, consolidating payday loans. This is a partial solution, however, worth considering due to the high penalty costs charged by parabanks.

Persons who have lost their financial liquidity and do not pay off their financial obligations and who already have debt collection or execution can not count on external assistance. No source of financing to help you get out of the debt loop is available to them.

How to get out of the debt and bank debt loop? Do not expect miracles and do not look for the strength of the way out

The Internet and forums are full of offers from various types of companies and debt offices, which praise their services and unearthly efficiency. You can find a good amount of advice on how to get out of debt, however, most of them are so-called word-of-mouth marketing. You will find a lot of entries “satisfied and effectively indebted” customers who, thanks to a specific company, came out of the credit loop. Remember, however, that there is such a thing as “word-of-mouth marketing”. These are entries made by the companies themselves that impersonate the alleged customers, praising their own services.

What is the effectiveness of such offices, companies and debt centers? Well, none! The operation of this type of creation is based on sending a letter to a bank or loan company with a request to reach a settlement and spread the debt into installments. Using their services, you are taking even more debt, because you have to pay a commission ranging from several dozen to several hundred zlotys (depending on the amount of debt). Do not pay for something you can do yourself. A sheet of paper and a few minutes dedicated to writing an application for settlement is not worth paying to any miracle workers.

When looking for strength, you will finally find what you are looking for. The dishonest people watch forums and what Internet users are interested in, what they ask for. If you are asking about how to get out of the debt loop, then you are looking for and you have it. A company that offers effective debt relief is opened, or rather honestly effective emptying of the debtor’s weak portfolio.

You can count? Count on yourself!

Debtors lose their time in search of “miraculous solutions”, a time that, with a moment, brings them closer to the execution of a bailiff. We are adults, so let us not believe in miracles and fairies. None of them will come, do not whisper on how to get out of debt and waving your wand will not make them disappear.

How to get out of the debt loop, when it seems that nobody and nothing will help us?

How to get out of the debt loop, when it seems that nobody and nothing will help us?

Only you can be a wizard yourself and your loved ones!

So few people come to such a simple solution or simply do not want to fall into it, going to the easy way. Commitments are easily incurred, and money is easy. Unfortunately, there is always a moment when you simply have to pay for it. At this point, it’s worth you to think about 2 solutions. First of all, it’s worth increasing your income, secondly analyzing your home budget and making savings. Unfortunately, you have to look around for an additional occupation, a full-time job, to reform the budget in a difficult period for you to get out of debt.
Even in the case of timely repayment of liabilities, whether the consolidation carried out, it is worth thinking about this solution, even to speed up the exit from debts. The labor market looks like this in our country, not differently and you can never be sure if you will have a job in a few years and you will be able to pay back the consolidation loan.

Solve your problems:

  1. Sit with your spouse or yourself and analyze the home budget, looking for what you can save and with what expenses to give up.
  2. Look for additional jobs, orders or other activities that will allow you to get additional income, thanks to which you will be able to meet the settlement agreements with financial institutions.
  3. Make arrangements with your creditors and implement them on time.
  4. Save, work, work and work again.

It’s a simple solution right? He agrees that it is hard and difficult to give up pleasure, but everyone is a blacksmith of his own fate and you have to bear the consequences of imprudent incurring excessive financial obligations.

Observing internet forums, I did not find any debtor’s entry that would ask for the possibility of finding a well-paid job to help pay off debt ! Every question about how to get out of debt concerned another loan or loan that would make it possible, that is, to go on the easy way. It is good that many of the debtors have no chance of getting another commitment, because it would be the proverbial “nail for the coffin” for most of them.

If this solution does not seem suitable for you, be prepared for further increase in debt and increase it by court costs and bailiffs’ executions. Some will say that no loans and loans have yet been sent to prison for unpaid loans. That’s right, but how much can a bailiff be avoided and allow the debt to grow indefinitely?

The final solution – declaration of consumer bankruptcy

Insolvent people who have completely lost their ability to pay their debts should consider declaring consumer bankruptcy. This requires conducting court proceedings, although it is not expensive. Thanks to bankruptcy, you can get out of the debt loop in two ways depending on the court’s decision. The court decides whether to write off the debts immediately or set a repayment plan to the debtor. Debt relief without a repayment plan can be expected by people in a difficult situation who can not afford to satisfy creditors even to the smallest extent. The repayment plan is set for debtors whose income is likely to pay off at least a small part of the debt. The repayment plan is fixed for 3 years, and the court may set at least € 50 as the monthly repayment amount. I will not write here on this topic. I refer to interested parties to the part of my blog dedicated to consumer bankruptcy.


You can write a book about how to get out of the debt loop and it is difficult to include everything in one article. This is a very broad topic due to the variety of debtors’ situations and how the debts were incurred. What a man is a different matter and situation. The result is that in principle everyone could get a different answer to the question of how to get out of debt.

Leave a Reply

Your email address will not be published.