The accumulation of credit card problems that you have faced in recent times, especially during 2017 is not without a way out. These problems, especially debts that are in arrears and are not able to be repaid are indeed often a barrier to starting new beginnings, for example to start owning a new home, starting a new business, applying for new motorized vehicles, etc. How come? Credit card problems that are in arrears often have an impact on the Historical IDI, where any arrears you make will still be recorded in the Bank Indonesia system, and poor credit collectability can make your name badly tarnished and deemed less credible for loans.
Quick Ways to Pay Off Debt
There are several ways to quickly pay off debt, the main key is to take part in a relief program. The relief program or commonly referred to as credit restructuring is an improvement effort made by the Bank in credit activities to debtors who have difficulties in fulfilling their obligations. The results of this credit restructuring can usually alleviate customers so that they can better afford to pay. There are several ways that can usually be done, for example by decreasing credit card interest rates, extending the loan tenure, reducing loan interest arrears, reducing loan principal arrears, adding credit facilities, and converting credit into temporary capital participation.
These methods are usually formed in several types of relief programs which generally can be obtained, for example: obtaining a discount on credit, deductions with extended installments, or a combination of both. Here is the third explanation type of relief program from the bank :
One-time discount / discount
This type of lightening program makes customers able to get a discount with a nominal that is usually quite lightening. 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%. It’s just that you have to have financial readiness so you can pay immediately. This type is certainly not suitable for those of you who do not have enough savings, which can be directly allocated to pay the remaining arrears that have been discounted in one payment. The main advantage that can be directly felt is free from the disruption of debt collectors and feel more calm because the debt has disappeared, because in one payment all payments can be completed.
Extended Installments with Low Interest
The second is to pay more lightly. Usually with this program customers can pay in installments at a much lower interest rate. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%. As with the installment tenure, you can pay in installments over a longer period of time. In some cases, you can repay up to 60 months (5 years). Funds that need to be prepared to join this program are at least funds to pay DP (minimum 10% of total debt for a credit card or one month installments for KTA) or depending on the policy of the bank. The advantage of this program is that you can pay little by little without directly dredging savings. Unfortunately, high payment consistency is required. Once you miss a payment, the program will be considered a failure, and the total arrears will return to normal as if they didn’t get any relief at all.
For installment discount programs, you can usually benefit from the two types of programs above. But because of its combined nature, of course you cannot pay in installments throughout the installment program, generally as much as 6x payments. Likewise at discounts, you do not get a discount for a one-time discount program. This type of program is only available in some banks. In addition, 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 has the program).
End of Year is the Right Time to Be Free of Credit Card Problems
After knowing the various quick debt-paying solutions you can take to welcome 2018 with a fresh start, this is a good time to take that step. Why at the end of the year or December is the right time to be free from credit card problems? There are several reasons behind it all:
Reason # 1: In order to be able to start a new beginning in 2018 more positively
Even though it is already at the end of the year, starting a strategy in paying off debt in the following year is the right step. At least, you already know how to deal with debt repayments in 2018. This can certainly make you more positive and can get ready from now on in seeing opportunities to seek additional income. For example, by becoming a freelancer or seeing opportunities to start an online business.
Reason # 2: Can Use the End of Year Bonus Well
In some companies, usually there will be a year-end bonus that can be obtained. Take advantage of this year’s end bonus as a way to get rid of bank debt. You can allocate bonuses to directly pay debts, so that it is not already spent on other expenses which are not priorities or even consumptive. That way, you can be wiser in managing monthly or year-end finances.
Reason # 3: Many Special Programs from the Bank
Some banks usually issue special programs that are more attractive and relieve you in paying off the remaining arrears. In addition, relief programs issued by banks are usually more special and may not necessarily appear in the usual months, because the year-end moments are often identified with the annual bonus. This is what usually makes the program more attractive, so that it can be adapted to the conditions of your debt. These forms of relief programs also vary. This offer is exclusive to Arsene Lupine international customers. Our experienced team is ready to help you free from credit card debt or KTA. If you want to find out what lightening programs are offered, you can contact Arsène Lupine so that you can consult your issues with us at once .
Arsène Lupine 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. Arsène Lupine Indonesia helps clients through debt management programs, specifically designed to suit 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. The head office of Arsène Lupine Indonesia was established in Jakarta in 2015 by a founding team that has collective experience in finance including debt settlement for more than two decades. Arsène Lupine makes Indonesia the center of operations and is also a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Arsène Lupine Indonesia has become the first company in Asia to be accredited by the International Association of Professional Debt Arbitrators ( IAPDA ).