What do I do if I cant deal with my debts?: These are the recommendations of the Superintendence of Insolvency and Replacement
Renegotiation is an absolutely free procedure that allows people to reach an agreement with all their creditors.
After the passage of March and the expenses that this month entails, many are wondering: What do I do if I can’t pay my debts? It is in this context that the Superintendency of Insolvency and Reentrepreneurship (Superir) provides some advice for people to internalize the existing alternatives to face possible personal debts.
The Renegotiation , is an absolutely free procedure under the protection of Law No. 21,563, which allows people to reach an agreement with all their creditors, so that they can pay their debts under new conditions, lowering their financial burden, which can be from more than 90% to only 50%, in a procedure that lasts no more than four months.
In addition, it does not require hiring a private lawyer and can be requested both at the offices of the Superir and on the service’s website, www.superir.gob.cl .
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In the same vein, the Superintendence delivered recommendations that are based on 3 axes to help financial balance:
Organization
Establish an updated calendar of the due dates of the obligations, starting with the fixed expenses that are a priority such as: dividend, rent, basic services, food, mobilization, service expenses, among others. This way, you’ll know for sure what you’ll need to pay each month and what it’s essential to keep up to.
This organization will allow you to anticipate and take steps to adjust your expenses and/or seek additional income if necessary, while being in control of your finances
¿Sobreendeudado? Ahora puedes renegociar deudas en un trámite gratis, en línea y sin abogado
Observation
Once you have defined the calendar of obligations, review your expenses and analyze subscriptions, automatic collections that you can do without, looking for those cash flows that you can avoid after adjusting your payment plan. It is always necessary to evaluate fixed costs that can be adjusted.
Assess your financial situation
Once the above actions have been carried out, analyze how much monthly income you have today and had in the previous 2 months. Add up all your real fixed income (salary, retirement, rents from your own business or rent, contributions from family members, among others), a figure that will give you an average income, allowing you to project and assign priority, distributing your resources, drawing up a plan of expenses and payments.
Every person who earns an income is subject to credit and indebtedness goes hand in hand with good behaviour; So, if you’re in control of your finances, you can evaluate your personal or family finances and make a plan to get through months with more expenses than others.
Finally, to help citizens visualize their financial solvency situation, Superir invites them to use its debt calculator located on the www.tenlaclara.cl website.