There is a lot of debt in Australia.
And there are many ways you can avoid being saddled with it.
Here are four simple steps you can take to avoid going through the pain of having to repay a debt.1.
Pay off your debt in fullYou can pay off your debts using a repayment plan that can be either automatic or manual.
You can also pay off the debt through a collection agency or by writing to your creditor to ask for forgiveness.
But you can also ask for it upfront.2.
Make an appointment to talk about your debtWith many debt collectors, you will get a “deal” if you can pay in advance and it will then be passed on to you.
However, if you want to talk to your debt collector, you’ll need to make an appointment.
If you make an application online, you can have the creditor write to you to discuss the plan.
Talk to your creditorsThe creditor may ask you to attend a hearing with your creditor in order to explain your debt, but there are times when it’s best to go to the creditor to talk with them directly.
A creditor may also contact your debt collection agency to talk you through the process of paying off your balance.4.
Pay your debts with cashThe amount you pay with cash will be your repayment amount and can include a payment on your credit card or cheque.
It’s best if you pay cash when you can, rather than when you have a choice.
Read more:How to make sure your debt is paid off in full, with the right options