The financial crisis has put bank customers in the situation when they cannot pay off their credit. Moreover, the customers have the feeling they will be paying it off all their life long.

Record high mass layoffs are the reason for the sharply increasing amount of debtors. There are certain terms and conditions for every bank product and the degree of risk of becoming a debtor depends on them. By the way, when you stop receiving fixed income, you get in the worst situation possible. Consumer credit users who get into the debt are the fist to suffer because they may have to pay from 0.5 up to 1 percent of annual percentage rate a day! Besides, there are also fines and penalty fees… Very often, a debtor faces the problem of having money enough only to pay penalty fees while a debt remains a debt.

Credit cards allowing overdrafts also prove to be useful. They have both your money and bank money placed on them. However, the agreement you sign has a schedule you should keep to when paying bank money back. These credit cards offer more attractive terms and conditions than consumer credit does, including fines and penalty fees. However, read the agreement thoroughly before signing it because users of these cards very often say that the bank is stealing their money while it is not. All charge-offs are made according to the agreement, and they include credit card issue fee, account service fee, etc. It should be mentioned that charge-offs are made even if the account balance is negative, that is why it is better for you to track your account balance. Some banks do not tell their customers they’ve become debtors and people discover it on the trial, or when officers of justice come home to levy distress and exempt their property. As you can see, it is crucial to specify existing mobile phone numbers in the agreement and other papers, otherwise you won’t receive a call from the bank – some banks call their customers if they haven’t paid off their debt during a particular time period. Keep in mind that you will be contacted during working hours. Therefore, avoid writing down landline phone numbers and if you get a new mobile phone number, call the bank and inform them about it.

Most of debtors play hide-and-seek with their banks. The game usually ends in officers of justice knocking at your door. Few people know that banks make concessions to debtors even during the crisis. They can even write off part of the debt.