Many people wonder about which debt to negotiate first. Unfortunately, the economic situation has left many consumers in debt. Thus, there are usually at least 4 overdue bills.

In this way, financial autonomy is a dream that is getting further and further away. That's because little is known about how to overcome this debt barrier.

Therefore, the purpose of this post is to help you understand more about it. Here you will know which debt to negotiate first. Also, follow tips to make a good deal and save as much as possible.

Identifying the most expensive debts seems simple. However, you should not only pay attention to the debt amount. The key point is the interest being charged.

So, the first thing you need to do is list your biggest debts. Then choose whether you prefer to pay off the full value of it or exchange it for a cheaper one.

Let's say you have a debt on the overdraft. So, an analysis was made and you saw that the personal loan would be more advantageous.

Thus, it is possible to make this exchange. Later in the article you will learn more about this strategy. Now, to find out which is the best option, there are some platforms that can help you.

Serasa eCred is the most popular of all. There you can make loan comparisons in a simple and practical way. However, you need to be aware of some points in this process.

The first one is the interest rate. It is necessary to evaluate this value. However, the number of installments is also a determining element. The second refers to the CET, also called Total Effective Cost.

This is a variable that directly interferes with the total debt amount. Therefore, never neglect it. Remember that it will not always be treated as important, by creditors for example. Even so, don't fall into that trap and stay alert.

When asking yourself which debt to negotiate first, always go for the higher ones. However, review each separately. See all the alternatives to get rid of them right away.

This is a bit of a laborious process. However, nothing compared to being full of pendencies. So invest some time preparing to organize your financial life. The next topics are to give you tips on how to do this.

This is the first step towards achieving autonomy in this area of life. You need to fully understand your situation. For this, it is necessary to put everything on paper.

Then, gather your expenses and your monthly income. A spreadsheet usually makes your job easier here. So, include your extra earnings, if any.

Also, put what your debts are open. Always counting on interest and charges charged according to the delay time. If you don't know this information, that's fine.

Contact the creditor and request the updated amount of your debt. With regard to expenses, it is interesting to separate those that are fixed and variable. Therefore, it is possible to cut the most superfluous expenses.

All this work will help you when calculating your outstanding balance. Not to mention that it is essential when it comes to launching a proposal for the institution you owe.

Once your financial assessment is done, it's time to delimit some points. So, you need to know how much of your budget can be committed per month to pay the outstanding amount.

It is this limit that will guide you when choosing a good deal with the creditor. Remember that the important thing is that the negotiation favors both parties. Also, never assume something you won't be able to fulfill.

For this reason, establishing a value is interesting. That way, you can settle your debt with peace of mind. This while maintaining good financial health.

In short, when asking which debt to pay off first, it takes a lot of planning. Many people have problems changing their situation precisely because they skip this step.

If you want negotiate your debt with the bank, it is never recommended to wait for the bank to contact you to resolve this issue. It is interesting to be active and willing to pay off the debt. Imagine that you found out that you owe a certain institution.

In this way, the ideal is that the manager of the latter is sought as soon as possible. This simple attitude may even facilitate reaching a more malleable agreement.

Also, feel free to clarify the most viable payment options for you. This along with the amount of installments your budget can afford.

If possible, see the possibility of paying everything in cash. Thus, it is easier for interest rates to be reduced. Also, you may be able to get special terms in the deal.

In any case, the ideal is that the conversation is not one-sided. You need to actively participate in the entire process. This is also an alternative to showing that you know all your rights.

Don't be shy about coming up with your own alternatives. It may be that the creditor complies with them. The next topic will talk more about this, so stay tuned.

Understand that both parties have an interest in resolving a debt. That's why you need to actively participate in everything. Imagine that the lender has launched a proposal. However, it is not viable and does not fit in your pocket.

In this way, it is ideal that you ask for time to analyze the agreement. Then take all your financial planning. So, study all the possibilities. See which other options would be more interesting.

Then, go back to talk to the lender. Tell him about these alternatives. Putting together a solid counterproposal is very important at this point. This makes your chances of getting softer conditions higher.

Also, don't be in any doubt about the deal. Talk about all the little details that got a little confusing. Don't sign anything without having done so first. It's the most efficient way to avoid deep regrets.

This is one of the most interesting tips on this list. Doing several credit simulations is never a disadvantage. Most of the time you can find offers much more viable than what you had in mind.

This is because interest rates may be lower than expected. So never ignore this possibility when asking yourself which debt to negotiate first. Now, imagine the following scenario.

You and your creditor sat down to talk. However, you were not able to come to an agreement. This type of situation is more common than it seems.

So rest assured. If there is no chance of negotiation, it is worth opting for credit portability. Here, basically your debt goes from one institution to another like a regular transfer.

This is a very popular practice in the financial market, so you can benefit from it. Thus, you have a smart strategy to reduce the interest on your debt.

That way, you get out of an expensive debt plus a cheaper one. It is even possible to reduce the monthly installments. This helps you to settle this pendency soon without having to deal with abusive conditions.

In addition, with portability, you can concentrate all your debts in one contract. This makes it even easier to manage your finances. Also, it avoids a series of bureaucratic processes.

Perhaps you have never heard of this event. Some credit protection bodies organize fairs. The purpose here is to facilitate the payment of debts. One of the most famous fairs is Serasa Limpa Nome.

Anyone can participate in it. However, it is necessary to register on the institution's platform. So, done that, just take advantage of opportunities.

So you can get much more interesting deals. This when compared to a traditional negotiation process. So, be sure to check it out. The chances of being positively surprised are many.

This is the most annoying part of signing an agreement. However, it is extremely important. Paying attention to the calculations saves you from many problems.

The first one is that you don't take on anything you can't deliver. Also, you don't pay a penny more than you should. When asking yourself which debt to negotiate first, keep in mind that this part is the main one.

Therefore, even if it takes work, invest time analyzing each element present in the rates and the like.

This goes for any type of trading. You need to write down everything that was agreed upon. So whether the conversation with the lender was over the phone or email doesn't matter. It is necessary to have ways of recording this moment.

This is so you don't miss any important details. Also, it works as proof in case there is a problem. It is a form of control that is both personal and professional.

Not to mention that the notes help you when comparing different proposals. So, never stop doing such a thing.

See the contract as a guarantee of everything that has been agreed. With that in mind, realize that this is an extremely important document. Therefore, never sign anything without first being completely sure that everything is in compliance.

Read all clauses and their smallest details. If you find something different from what was previously discussed, be careful. At that point, it is time to inform the creditor that something is not correct.

Understand that the negotiation process only ends after signing the contract. After that, a lot of organization and discipline is needed to comply with the plan.

Here comes another important point, the change of habit. Negotiating debt requires you to make some changes to your budget and the way you manage it. It's something that doesn't happen overnight. However, the end result is always rewarding.

When asking yourself which debt to negotiate first, it is interesting to think about the “how”. You can go through this procedure completely virtually. Several creditor companies provide digital platforms.

Through them, it is possible to make many transactions. Plus, you can get exclusive benefits and payment options. Check out some of the main benefits that the online alternative can grant you.

Trusted online platforms are safe. They follow data protection standards. So, no need to worry. They guarantee the secrecy of all your personal information.

No need to spend hours waiting in line. Over the internet, negotiations are faster and you don't have to wait for time-consuming analyzes.

All pre-face procedures can be done in the comfort of your home. All in a simple and practical way.

You don't have to stay on calls, or go through face-to-face constraints. All this distances the customer from the creditor and makes it more difficult to reach an agreement.

In the online debt discharge system, it is not necessary to leave the house to do absolutely nothing.

Online platforms also make it possible to establish a friendly dialogue between creditors and debtors.

This is because with a more direct conversation, it is easier to avoid stressful situations. In this way, the internet can even help you get a more interesting deal.

So in this type of online system, it is possible to choose the best time of day to make the proposal. This is only possible because the app is available 24 hours a day.

Therefore, it can be accessed from anywhere. So, you don't need to change your entire work/study routine to go to a bank.

Finally, you already know which debt to negotiate first. Still, you are prepared to go through a debt settlement process. Now it is your turn. So don't hesitate a minute longer and go in search of your financial autonomy. Enjoy and meet 5 tips to clear your name and get out of the red!