The debts of the Swedish people are increasing more and more rapidly, and in 2023 alone, the total debt amounted to over SEK 119 billion.
For those who have found themselves in a sticky situation and have challenges on a private financial level, thus need to find a way to get back on their feet.
Partner? This is how you are affected if your partner has debts with the Kronofogden
Indebted? You should do that to get on your feet with the economy
In an interview with News24 explains Nordnet Bank’s savings economist Frida Bratt how to think and act to get back on your feet.
– Tackle the problems immediately. It can be a tough fight to get back on track, but if you put off addressing the problems, it will be even more difficult. So grab it right away, that’s the only way you can get the right side of your problems. Don’t hesitate to get help either. All municipalities have a budget and debt adviser who can help those who have ended up in a vicious debt spiral. With one of these, you can get help sorting out your debts but also get tips on how to get an overview of your finances and how to make a budget, she says and adds:
– Check who you owe money to, whether you have debts with the Bailiff and whether you can come up with a reasonable installment plan with the person you owe money to. It is possible to apply for debt settlement with the Crown Bailiff, but this should be seen as a last straw if you have tried but failed to sort out the situation. Getting debt relief granted can certainly be good if it’s the only way out, but of course it’s best to try to sort out the situation before you end up there, because debt relief is tough.
Step by step – this is how it happens when your debt ends up with the Kronofogden
Nordnet Bank’s savings economist Frida Bratt explains how you should act and think to get out of financial trouble. Photo: Press image/Nordnet BankSpareconomen’s tip: This is how you get hold of debts
Although it is tough and challenging to find a way out, it is important to set a clear plan, says Bratt. There are several concrete tips that will give you a clearer picture of your financial situation.
– How much money do you receive? How much money is lost in expenses and for what? What kind of loan do you have and under what conditions? Do you have debts with the Crown Enforcement Officer and how big are they? Getting an overview of the situation is an important start.
– Can you come up with a reasonable installment plan together? Therefore, try to put feelings of shame and guilt aside. The important thing is that you get out of the situation quickly.
The item that the Bailiff cannot take from you: “You have the right to a…”
“Don’t take new loans to pay off debts”
Once you have grasped the situation and made a plan for how to get your finances in order, there are also important things you should avoid in order not to end up in similar situations again, says Frida Bratt.
– Do not take new loans to pay off debts. Then you risk getting stuck in a vicious spiral of debt that can be very difficult to get out of. Don’t postpone the problems and think that they can’t be solved anyway, they can. But then you need to deal with your situation immediately. Many may also be ashamed of the situation they have found themselves in and therefore hesitate to seek help. Do not do it. Perhaps there is someone close to you who can help you, or the municipalities have budget and debt advisers.
Here live those with the most debts to the Crown Enforcement Officer: “A vicious spiral”