Right. Debts have to be paid.
But each of us may find ourselves in a situation where the debts are simply “exceeding” our ability to repay them.
It can be because of an unsuccessful year in the business, because of a layoff or injury that left us without a job, because of a guarantee we gave to the wrong person, or simply because we made a mistake and took too many loans from the bank and now we discover that the monthly repayment “eats” most of our income.
Either way, there comes a moment when we realize that if we continue to pay our debts, we simply won’t be able to meet our current expenses and maintain a normal lifestyle. If we don’t address the problems, we can assume that at some point the creditors will also begin to act, and then we may find ourselves facing executors knocking on our door in the middle of the night, discovering that our car was on a tow truck, hearing from our boss at work that our salary has been foreclosed, or discovering that our bank account has been foreclosed. Not pleasant at all.
When the volume of debts is significant and there is a feeling of inability to find your hands and feet and solve the problem alone, you should consider using a specialist. Paamonim experts are on hand to help deal with the situation together with you.
The assistance you receive at Paamonim will help you understand the full picture of the extent of your debts and your true ability to repay them. Through the various services we offer you, free of charge, we can build a debt repayment plan that we will formulate together. The road will not be easy, but if you persist in it, you can reach financial independence and embark on a new path.
Types of services of Paamonim for those dealing with debts:
- “Paamonim Answer” – this service is at your disposal at all times and provides answers to questions and general information on the subject of family finances and can also provide a response to debt handling.
- Self-study – a good place to keep up to date is our iterative guide: Life without debt – the guide to settling debts from Paamonim. This guide was written to help families and individuals who are responsible and want to pay their debts, but are struggling in the debt settlement process.
- Personal Guidance – Paamonim has a service of assisting individuals and families who are interested and committed to undergoing a process of change in their financial conduct and debt settlement. toSubmitting a request to schedule a consultation. It is important to note that sometimes the debt settlement process combines a legal process: a creditors’ arrangement or bankruptcy procedure that allows any person who got into trouble to “get out of the mud” and start a new page in life, free of debts, within a relatively short time.
