Debt

If you are unable to pay your taxes or your insurance costs are too high. Take action, otherwise the bailiff might come to your door.??

The process ????

Debtors who are in serious financial trouble will find themselves at the mercy of their creditors. The creditor will bring their case before a judge, who will decide upon their problems. But what happens when the debtor doesn't show up?

It turns out that most debtors don't show for the hearing (source: Raad voor de rechtspraak). As a result, their debts will increase even further.

When someone doesn’t show for a hearing, the judge must rule in favor of the creditor. This means that no solution will be found for the outstanding debt. Resulting in additional costs that will cause even more problems.

Stressed out ??

People who are stuck up to their ears in debt live under great stress. They don't have a clue where to start when it comes to their debts. They're afraid to open their mail, so they miss their court hearings. And as a result, even more debt and stress awaits them.

Systematic ??

The financial system can be a scary and challenging object to understand. There are, for example, many people who do not even understand what a hearing is, much less what it entails. They simply don't have the time or mental capacity to understand the jargon and difficult words. The debts have already reached sky-high levels by then, and the current system just gets them further into trouble.

It is therefore important that this financial information is made easily accessible to every layer in society.

How to go from here? ??

When you face adversity in life it is almost never a solution to look away. Whether we are talking about money, social anxiety or other problems. However hard it may seem at first, it’s always best to face your fears.?

A good start in facing your financial fears is to have an overview of your cost and income. So dive into your bank account to see where your money is going. This way you are on your way to regain control of your finances.

Nibud offers a few documents that can help you take your first steps.

https://www.nibud.nl/onderwerpen/rondkomen/plannen-en-begroten/#Maand

Let's stay financially fit together! ???