Most people facing financial difficulties turn to debt consolidation to reduce monthly charges. If this solution does allow to ease one’s budget, it is not available for people carrying too much debt. Indeed the Swiss law forbids loans to people facing over indebtedness. For this kind of situation, the debt reduction, or debt relief can be a solution.
This solution is a service offered by specialized companies, and consists of entrusting the management of your debts. More specifically, your will pay each month a defined sum to the company, who will manage your debts for you. All your creditors should then adress to the company managing your debts. Thus:
A debt reduction service comes with a cost, defined with the company managing your debts. Howewer, as the company will allow you to save money on your debts, the you wil globally spare money. Thus, it is important to adress to an experienced company who will guide you throughout the debt reduction process. For example, MultiCredit can help you to find the right solution for a debt relief.
All in all, the most important when facing budget difficulties is important not to wait and to ask for help. Each year, there are many people with financial difficulties in Switzerland, and solutions exist!