How to get out of debt? | Debt Consolidation

According to data from October 2018, as many as 1.8 million Poles are indebted . In addition, most of them have more than one debt – in total, Poles have over 3 million unpaid debts. The value of debts with which Poles are liable amounts to PLN 25 billion .


1. Check the legitimacy of debts.

It is not uncommon for us to be attacked by telephone calls from debt collection companies and letters requesting payment, but we do not really remember that we would have to pay some debt repayment somewhere. In such a situation, it is best to check whether the debt is justified at all – we can ask the creditor to present relevant documents confirming our debt. The creditor must prove to us the legitimacy of the debt in order to be able to demand payment of money.

2. Check if the debt is expired.

Loan companies often take advantage of the fact that the debtor is unprotected and demand repayment of the debt that has expired. Each type of debt expires after another period of time. For example, an unregulated mandate expires after one year from the occurrence of the event, and in turn the claims established by a court judgment expire after 10 years.

Useful things:

Limitation of the mandate

3. Announce consumer bankruptcy.

The declaration of bankruptcy is a court action aimed at demonstrating insolvency – a practical exit when we are completely unable to pay off your debts. The declaration of bankruptcy involves the liquidation of all or part of the debt, however, it requires many sacrifices from the debtor: he ceases to legally manage all his assets. This property is not only what the debtor has, but also the entire payment for work.

4. Realize the importance of the problem.

Without this, let’s start – we should start with writing all the influences we have and the debt installments that we have to pay off. If it turns out that there is more to be paid than we earn, we will realize that it is impossible to live in the long run. The key issue is to understand that we will not get out of our debt problem just like that – we need a good debt plan and a lot of determination.

5. Set convenient repayment terms.

We often avoid bailiff, debt collector, we do not answer calls from loan companies for fear of another reminder for payment. Sometimes, however, it is worth picking up and trying to change the tone of the conversation to the conciliatory – people who are in debt-pulling companies also work with whom (with luck) you can get along. There is always a shade of chance that you can get along with your creditor and negotiate an affordable repayment terms.

6. Make a court settlement.

If the issue of our debt has reached the court, we may try to get an official deal with the creditor outside the court. A court settlement to an enforcement order, i.e. one that entitles the creditor to execution by a bailiff on us. An additional condition for the conclusion of the contract is the half-price of the process, which means that the debtor pays half, and the creditor half (thus saving additional process costs).

7. Get rid of the bailiff.

If we see the prospect of an immediate exit from debt, we can apply for the bailiff’s withdrawal from the case or, at least, for suspension of enforcement activities. We have a chance to save the property that we have left, and even sell it at a better price. In addition, we will not incur enforcement costs when we get rid of the bailiff.

8. Earn extra money


If we do not have enough money to repay the debt, and we can not announce consumer bankruptcy, we can always try to earn extra money that will help us speed up the repayment of the debt. In the case of long-term debts, we will save every last amount – instead of sitting idle and crying over your own fate, it is better to take matters into your own hands and earn money, which we should give back to start your life from the beginning. This time without debt.

9. Start saving.

Just earning money is not enough if we spend extra money on our cravings. Unfortunately, the state of indebtedness is a permanent condition and until its completion we should get used to the most economical life. No more eating out and picking up fines out of pocket – we need to start saving to end our debt life as soon as possible.

10. Make order in your budget.

Otherwise, unfortunately, we can not – we have to realize clearly what we should devote to. Setting a clear budget (how many tides we have, and how much we have to spend for repayment) will help us in saving lives and planning future repayments. Living from day to day does not come out for good – it’s better to sit down with a card and a pen at the beginning of the month and calmly write out what we will spend our money on. Without a specific repayment plan, we will never repay our debt.

11. Consolidate Debts

11. Consolidate Debts

Consolidation of debts consists of combining them all into one, paid off for new – more convenient for us – conditions. Thanks to consolidation, we can win a lower interest rate and try to extend the repayment time of our commitment. Check out the best consolidation offers.

12. Borrow money from the family

Borrow money

A family loan is, for many reasons, better than another payday loan. The difference is mainly the interest rate – loan companies always impose a large process, and with a loan from someone in the family, we have the chance to give back the same (or little more) as we borrowed.

13. Go abroad.

If we do not like the way the creditor enforces debts in Poland, we can leave the country and go over debt collection with foreign rights. A Polish bailiff can not carry out executions on a non-resident citizen, so when we leave alone, we will choose which country we want to pay for debt repayment. Many people choose to go abroad, hoping that the creditor will not find them there, but they may be illusory hopes – and let us remember that interest rates on unpaid debt are constantly growing.

14. Alert a bailiff to sell the property.

If we are afraid of a bailiff bidding, we can overtake the facts and sell our own assets. By doing it on our own, we can dictate the prices ourselves, and if the bailiff puts our property to auction, the starting price is 75% of the estimated value of the equipment. It is not necessary to explain to anyone that these amounts always seem to be very undervalued. Therefore, we can sell valuable items earlier than the bailiff does.

15. Get free legal advice.

Almost every county city in Poland can find a point of free legal advice. Of course, it is open at certain times and specific days of the week, but if we wait for it, we will not pay anything for the lawyer’s professional advice. A lawyer who is fluent in the rules of seizure of property and repaying debt will certainly help us choose the best route to go straight.

16. Divide the repayment into smaller installments.

If the total amount of monthly installments significantly exceeds our earnings, we can apply for dividing repayment into new, smaller installments. The repayment schedule can be determined directly with the creditor (it is best to arrange the repayment of the entire debt in the order for each month and the amount that we will pay for each month). It is important that we are confident that we will be able to stick to the new repayment plan, because re-payment may cause the creditor to never fall back on our grip. 
17. Ask to withdraw your claim from the court.

If we have the opportunity to get along with the creditor, ask him to withdraw the claim from the court, because in this way we will save a lot on the possible costs of the trial that we would have to bear. In addition to the case itself, we can also be attracted to pay for the substitute creditor in court, which is also a considerable amount. Handling a case out of court will certainly reduce the costs that we will pay.

18. Plan for savings.

Putting off the debt that will be left to us at the end of the month is a very bad idea. It is better to make up the amount yourself, which we have to postpone. This will allow us to live a little more sparingly and plan our expenses more rationally. It will be safest to put down a certain amount of savings already at the beginning of the month and stick to the postponement plan that we have set ourselves – letting go in this matter will only plunge us.

19. Ask for the redemption of all or part of the interest due to the delay in payment.

Debt collection companies are often willing to write off additional interest resulting not from the normal interest rate on the loan, but from the repayment delay. So we have nothing to lose – it is worth trying to ask the creditor if there is such a possibility. We will add to the consolation that debtors are often able to obtain redemption of this percentage of interest.

20. Give up luxury goods.

A truly luxurious life is a life without debts. Let’s give ourselves a chance to experience this luxury and let us resign from luxury goods such as cigarettes or alcohol during the difficult months of paying off our debts. In the face of problems, these goods certainly will not help us, and for this they can further drown us in debt, because the cheapest do not belong. At current prices, the burning of two packs of cigarettes a week will give you over PLN 1,500 a year! How many installments can we pay for it …

21. Reduce the amount of debt.

If we are lucky enough to be able to talk to the creditor normally, we can ask for the redemption of the part of the debt that arises from interest – there is a chance that we will be able to get permission to repay the loan itself.

22. Tell your loved ones about your indebtedness.


Talking always helps – especially when we’ve got into so much trouble, like over-indebtedness. The closest ones can show us mental support and advise what we should do. The family knows us better than any lawyer, so their ideas can be invaluable. If we live with someone, we can ask that person to control our expenses and savings plan – support in perseverance in these provisions can be very helpful, especially if we have problems with self-control.

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