Independent non profit organization for financial literacy and free debt advice

Living with debt

What are the warning signs that you have too much debt or are about to lose financial stability ?


Ask yourself the following questions:

  1. Over time, do you use more of your income paying debts?
  2. Do you pay your bills late because you don’t have enough money?
  3. Have you stopped paying some of your debts?
  4. Are you using cash advances on your card(s) to pay for essentials like groceries, utilities, etc.?
  5. Have your savings decreased or maybe you don’t have savings anymore ?
  6. Have you borrowed money from friends or relatives?
  7. Have debt collectors started to call or send overdue notices?
  8. Are you constantly worried about money?
  9. Are you and your spouse fighting over money?

If you answered yes to more than a couple of those questions, you have a debt problem.

Is it too late? No, you still can change the future of your financial situation. But how? 

No matter how your financial situation currently looks, you can improve it BUT the most important thing is that you really want to repair your finances and get back on track. Only then will you be able to do what others have done successfully and face this challenge. 

We are here to help you to find the right strategies to deal with your debt. Here some examples:

Debt snowball: You focus on paying off your smallest debt first (while paying minimums on the others), then roll the amount you had been paying on it into payments on the next largest.
Debt avalanche: You pay off your debt with the highest interest rate first (while paying minimums on the others), then the next highest rate, and so on. It may save you time and money over the course of your debt payoff.

Debt settlement: You offer a lump-sum payment to a creditor that reduces the amount owed by 25-50%. If accepted, the debt is settled, however, this will have negative impact on your credit history.

Debt consolidation: Combine multiple old debts into a single new one, ideally at a lower interest rate, making payments more manageable or the payoff period shorter. There are a few ways to consolidate debt, including balance transfer cards and personal loans.

Debt management plan: If you’re facing a mountain of credit card debt and not making much progress, we can help you to set up a debt management plan to cut your interest rate and put you on a repayment plan.

We understand how hard it can be to talk about debt. Many people think they will be judged or blamed for their current financial situation. But we all make mistakes and have times when we need a little help to get back on our feet. We’re not here to judge you or give you more stress, but to help you find real solutions with kind and honest guidance.

Tips & Tricks

Good debt vs bad debt
August 3, 2023

Good debt is defined by three factors: – The money is used to purchase something that is a necessary part of your life. – Repaying the debt does not blow up your budget. You can afford the monthly payments. – You have a plan to repay the money in a reasonable amount of time.

How to renegotiate your loans before you get in delay with financial institutions?

If you feel you will have problems repaying your loan, do not bury one’s head in the sand, start to renegotiate and we can help you.

If you get in delay on your loans what is happening and what can you do?

The financial institutions have different steps once you get in delay but very often they are open to negotiating and finding a solution.

How to plan and manage debt integrating them in the budget?

“The first step to regaining control of your finances and paying off your debts is to make a good budget.” Why? Because by putting your cash flow and monthly expenses in a budget network, you will be able to see more easily how much money you can free up to pay off your debts.

What are your consumer rights?

There are a few laws that guide your rights in the credit world. If you’re not in the legal profession, you probably won’t read the text of each of these laws. You should, at a minimum, be familiar with your rights.

Who are the different partners/players that can support you?

The main activities of the Commission for Consumer Protection are monitoring the market for dangerous goods, control of unfair commercial practices, elimination of unfair terms in the general terms of consumer contracts and remote sales.

How to tell to your kids?

Two discussions give parents the cold sweats. Telling your kids where babies come from, and telling your kids where debt comes from. Children will learn a lot about money from simply observing their parents.

How to handle stress possibly generated by financial situation?

Resolving financial problems tends to involve small steps that reap rewards over time. In the current economic climate, it’s unlikely your financial difficulties will disappear overnight. But that doesn’t mean you can’t take steps right away to ease your stress levels and find the energy and peace of mind to better deal with challenges in …

How to identify that your friend has a debt problem?

Several million people – up to 10% of the population – are reluctant to admit that they are having debt problems. As a result, we must call on friends and family members to do more to spot the tell-tale signs of money issues.

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We advise on debt,
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