Don't borrow to repay
The fastest way to double the problem is new financing to cover old financing. You go from one creditor to two, from one instalment to two, and your income hasn't changed.
The only sensible exception is a restructure that genuinely and verifiably lowers the monthly payment — not a deferral that adds cost.
Order by damage, not by size
Not all commitments are equal. What threatens your housing or your ability to get to work comes first, then what affects your credit record, then the rest.
- Housing, electricity and water
- Instalments tied to your credit record
- Credit cards and defaulted balances
- Informal commitments
Talk before you default, not after
Creditors are more flexible before a default than after one. Make contact early and ask for a restructure or a documented temporary deferral — and keep the documentation.
If the file has already reached a licensed collection company, you can still negotiate. A discount and instalments are usually both on the table.
Don't stop answering
Avoidance feels like brief relief and is expensive. A file that isn't moving escalates, and escalation shrinks your options. Answering — even with nothing in the account — keeps the door to negotiation open.
General guidance, not personal advice. These articles explain how things generally work. They aren't financial or legal advice for your specific situation, and Ebra can't advise you on debts it isn't handling.
