Loan and microloan waivers

Introduction

Loans and microloans are one of the main traps of gamblers: with their help, rates are extended, and debts accumulate like an avalanche. Divestment is a critical stage in getting rid of gambling addiction and restoring financial stability.

1. Understanding lending risks for rates

High interest rates on loans: microfinance organizations and credit cards often charge interest from 20% to 300% per annum.
Debt escalation: early closure of the next rate with a new loan turns the amount of debt into an "eternal loan."
Debt dependence: a person gets used to "solving" the problem of lack of money with a new loan, closing a vicious circle.

2. Signs of using credits to play

1. Periodic appeals to MFIs: frequent loans for minimum terms (7-30 days).
2. Shifting debts: early repayment of one loan at the expense of a new one.
3. Requests for new cards and credit limits: increase in the credit ceiling on MasterCard/Visa cards.
4. Lack of other reasons: loans not for household needs, but exclusively before large sessions.

3. Step 1. Blocking new loans and credits

1. Rejection of pre-approved proposals:

• Call the bank and MFIs, ask to exclude your name from all marketing mailings and stop offers.
2. Credit card freeze:
• The bank temporarily blocks the possibility of new transactions and registration of an increased limit.
3. Credit Bureau Notification (NBCH):
• Request a "ban on issuing loans" in your credit report: banks will see a mark and refuse automatically.

4. Step 2. Termination of existing microloans

1. Debt listing:
• Write down all microloans: amount, interest, terms, late fees.
2. Priority repayment:
• Snowball method: Start with the smallest loans, closing them faster.
• Avalanche method: repay loans with the highest interest first.
3. Restructuring negotiations:
• Contact MFIs with a request to extend the loan term without interest or reduce the rate.
• Enter into a new payment schedule, asking for installments without penalties.

5. Step 3. Alternatives to borrowed funds

1. Personal budget and savings funds:
• Save 5-10% of your income on a "airbag" every month.
2. Additional earnings:
• Working part-time on weekends, freelancing or renting out property to cover needs without loans.
3. Circle of Trust:
• In emergency cases, contact loved ones, not microfinance organizations.

6. Step 4. Psychological support

1. Mutual aid groups:
• Gamblers Anonymous, online forums - share your loan waiver experience.
2. Psychotherapy:
• Working with a psychologist helps break the money → play → loan association chain.
3. Progress monitoring:
• Keep a payment diary, record every step - this strengthens motivation.

7. Fixing the result

1. Budget automation:
• Get on the auto-transfer of part of your salary to a deposit card without the possibility of redistribution.
2. Technical barriers:
• Remove all MFO applications from the phone.
• Block loan sites through antivirus and DNS filters.
3. Weekly audit:
• Check your debts and liquidity - no new loans will be the best reward.

Conclusion

The rejection of loans and microloans is a strategically important step towards freedom from gambling addiction. Clear blocking of new loans, systematic repayment of existing obligations, search for alternative income and psychological support create a stable basis for financial and emotional health.