Being overdivized means having expenses higher than available income. A reality that affects many Portuguese and that, if not managed, can lead to situations of non -compliance with financial and legal consequences.
In times of economic uncertainty, it is important to know the resources when having difficulty maintaining the budgetary balance.
The first step, as explained by, is looking carefully at personal finance. Prepare a detailed budget, including all sources of income and each monthly expense, from the home loan to the streaming invoice, allows you to identify expenses that can be eliminated or reduced. Only with a clear view will it be possible to make effective cuts.
Renegotiating contracts can give some relief
Several contracts weigh monthly in family accounts: water, electricity, telecommunications, credits and insurance. Renegotiating these services may translate into a relevant descent into monthly charges.
Housing credit, for example, often represents the most significant charge. Reviewing spread, payment deadline or associated insurance can make a difference.
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In addition, there are useful tools such as the ERSE simulator (energy services regulatory entity) that allow you to compare tariffs and find more advantageous alternatives.
The same applies to telecommunications and insurance packages: Analyzing current needs and comparing offers can result in immediate savings.
Transfer or consolidate credit: solutions to consider
For those who have not yet entered, the transfer of housing credit to another institution may allow to reduce the monthly installment.
Many institutions support change costs, and in the case of variable rate credits, there is no place to pay amortization committees.
Another solution is credit consolidation, which allows you to gather multiple loans in one, with more favorable conditions and a single, usually lower installment.
However, the increase in the deadline and the total amount paid, due to the accumulated interest.
Support Mechanisms: Pari and Persi
There are two mechanisms created to support those who are overdowned: the Pari (Action Plan for the risk of non -compliance), intended for still at risk, and the Persi (extrajudicial procedure for regularization of non -compliance situations), for those who have already entered.
These mechanisms foresee solutions such as payment grace periods, expanding deadlines or temporary interest rate reduction.
Adhesion should be made with the credit institution, and proposals should be carefully evaluated, since, although they bring immediate relief, they may result in the increase in the final cost of credit.
Avoiding non -compliance begins with information and action. The earlier the available options are evaluated, the more likely to find a viable solution, and to maintain a medium -term financial stability, even over -endivided.
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