Among the many permanent cost items such as tuition, utility bills, loans, mortgages or rental housing, or even an old gym membership, it’s very easy to get confused and stop controlling them. As a result, you can not know exactly how much debt there is at the moment, which, of course, can adversely affect home money.
Fortunately, there are certain steps that need to be done to make it easier to understand all this and to identify the specific amount of total debt.
Raise your credit history report
Credit history is the main indicator for banks when making a decision on granting a loan, therefore, in this document you will be able to visually familiarize yourself with all your debts. Loan arrears, car or housing loans, bankruptcy or tax returns, and so on. If you have doubts about how much you owe and to whom, getting a credit history will be a good start to counting debts.
Check your credit card statements
Credit reports are sent by banks on a monthly basis, but since the situation on the bank account changes daily, there is a possibility that irrelevant data is indicated in the next statement. In order to find out exactly the credit card debt at the moment, it is best to check the status of the account in the LLK bank.
You can easily see the status of the account in your online banking account and, moreover, there is a convenient SMS informing system. But if you receive insufficient information from the bank or do not understand any points – contact the bank. Come to the branch or call your manager. Having opened an account in many banks, you will be provided with a personal manager, if this is not the case – call the common number and describe the situation, in the end you should get to a person who can help you arrange everything on the shelves.
Challenge any mistakes
If you really do not understand well what you pay for each month, this does not mean that you have to pay just as much as the bank asks for you, if only because some amounts of payment may be erroneous. If you notice strange charge-offs from your account, be sure to contact the bank to clarify whether the debt really belongs to you. You may have been theft of personal data or an error occurred in the report. If you think you don’t have to pay on any item, start a dispute with the bank and the credit bureau. Start by submitting an application to both instances.
Constantly monitor transactions on your account and cards. Looking through the list of banking transactions, report to yourself – whether you really made a payment or transfer money. Be careful and cautious. Keep your debts and household money under control.