Best Place To Get A Loan To Consolidate Debt Mon, 07 Sep 2020 10:11:35 +0000 en-US hourly 1 Registers of debtors used by lenders Mon, 02 Mar 2020 01:10:18 +0000 Read More]]> People applying for a loan in a non-bank company must be aware that after completing the loan form they will be asked to accept the list of consents, including to check them in various databases.

Thanks to such registers of information, both loan companies and banks minimize the risk of lending to unreliable persons who have not repaid their previous debt. In today’s article, we’ll focus on describing the underlying databases that lenders use to verify potential customers.

TLV – Credit Information Bureau

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The Credit Information Bureau is the largest database. It accumulates credit information on borrowers. The resources of this register are used by banks, credit unions and non-bank companies. Most, as much as 90% of the information is positive. Information on the number of loan applications, loans granted and liabilities repaid appears in the TLV database.

It should be remembered that timely payment of obligations increases our credit rating, and even the slightest delay reduces it. Late payment of obligations may result in rejection of the loan application in the future. All information about delays is visible in the register for 5 years. Some non-bank companies offer loans without TLV. However, most lenders operating on the Polish market use the resources accumulated in this register.

Economic Information Office

BIG InfoMonitor is part of the TLV Group. There are both positive and negative entries in the registry. The BIG database can be found, among others for an unpaid fine or an unpaid bill. The register can already be found for a debt of USD 200 (natural person) or USD 500 (company).

Data on the unpaid liability are transferred to the BIG database 30 days after the due date. Both banks and most loan companies use the resources of this register. The database provides information on the creditworthiness of a given customer as well as his unpaid liabilities.

National Debt Register

The National Debt Register has been operating on the Polish market for over 15 years. The KRD provides information on the debt of individuals, self-employed persons, small and medium-sized enterprises, large companies, municipalities, as well as the so-called secondary creditors.

Many loan companies verify their clients in this database. As in the case of BIG InfoMonitor, you can find in the register for a debt of USD 200 (natural person) or USD 500 (company), except that at least 60 days must have elapsed from the payment date. The information is stored in the KRD database for 10 years or until the liability is repaid.

If the client settles his debt, the creditor must send information to the KRD about this event. Then the note about the outstanding liability will disappear from the register.

How to overcome debt with financial planning Sat, 04 Jan 2020 23:20:14 +0000 Read More]]> Getting personal credit from friends, family or close friends can be the solution to regain financial control of your life. I had spent all my personal savings on my marriage and out of nowhere my business broke down. The year was 2014, my wife always dreamed of having a princess wedding party and I spared in the effort and money to provide it to her.

At that time, I was a partner in a company that was doing well, had some money invested in investments, and great prospects for the future. Three months after my wedding, my company, which sold a post office logistics control system to some large e-commerce, saw the post office restructure its entire operation and make it unfeasible. And it went something like this my first year of marriage: no penny saved, with expensive debts to pay and unemployed.

How I got back the financial control of my life

money loan

The first step was to return to the market. Having a fixed salary would help me a lot in this restart. The problem was that almost all of my income was to pay high interest rates on credit card debt, overdraft and loans I had borrowed.

Indebted and without credit approved in the market, my hope was to turn to a friend. I made a financial plan showing that with my salary I could pay him a certain amount for five months, with interest included.

It would not be nearly what I paid to the banks, but for it it would yield much more than savings, for example.

It was crucial to show this friend that I had financial availability for payment, that I made a planning and that it would be a good financial investment for him. Besides helping me a lot, he could make more profit than investments like CDB, Savings and Selic, for example. At that moment, no bank would help me. Although I could afford to repay a loan, had a good track record as a consumer, and had credit at times I didn’t need it, when I needed it most, I was a red stripe for banks.

Luckily, the loan this friend provided can rebalance my accounts, reestablish my financial life, break out of expensive debt, and get out of this bad phase.

How did I reuse this experience in my professional life?

About two years later, another friend called me to be a partner in an app he was developing, something totally innovative that allowed friends to lend money to each other, legally charging interest and still taking the main hurdle of the business that is boring part of : “What if my friend doesn’t pay? I’ll have to charge and it will end the friendship. ”The app automatically charges, reminds your friend of the bill of payment dates, and will pay you more interest if you delay a payment.

I remembered the situation I had been through and how saving that loan was in my life.

Embarking on the project would be the way to go against a banking system that offers you an umbrella on sunny days and takes off in rainy weather and can also help foster this kind of investment, which can be a great deal for both lenders, as for those who need it.

If you are going through something like this, it is important to understand how to rebalance your accounts and perhaps a loan between friends and relatives can be your salvation as mine was. Borrowing a friend from Mutual is quite simple, try it.

A loan under a blank promissory note. Safe or better to avoid? Sat, 04 Jan 2020 08:15:28 +0000 Read More]]> A blank promissory note is an increasingly rare, though still used, form of securing repayment of loans and borrowings. In the era of express payday loans online, available with a minimum of formalities, loans under a promissory note still make sense, or is it better to avoid the risks associated with them?

The promissory note that had already expired a few years ago was one of the most popular forms of securing claims both among lending companies and banks (although the latter used bills of exchange mainly for high-value loans, such as mortgages).

What is a blank promissory note?

What is a blank promissory note?

A promissory note is a type of security in which the person issuing the document (the trafficker) undertakes to repay the amount indicated to the person (remit) whose promissory note will be handed out.

A correctly issued promissory note contains the heading (title) ‘promissory note’ and the content that must appear:

  • date and place of payment,
  • date and place of issue of the document,
  • debtor’s details,
  • creditor details,
  • bill of exchange amount (amount to be paid),
  • exhibitor’s signature.

A blank promissory note (i.e. an incomplete promissory note) is a promissory note not supplemented with selected information.

For example, the paper may contain an empty field to enter the amount of debt (bill of exchange), date or addressee. Missing data may be entered by the holder of the bill of exchange (addressee) at the time of the premises to cash the document. If the issuer fails to comply with the terms of the contract, the resident may supplement the information necessary to use the promissory note, and then use the paper in court (and then enforcement) proceedings against the debtor.

The promissory note reduces the cost of debt enforcement.

The blank promissory note used to secure the loan or borrowing does not contain information on the amount of the bill of exchange at the time of issue. The amount of current debt (including interest) is entered by the creditor / lender when he wants to use the paper to recover the money borrowed, plus interest resulting from the contract.

The role of the bill of exchange declaration

The role of the bill of exchange declaration

The promissory note should be issued “in a package” with a promissory note declaration. This is a document in which the rules for filling in empty bills of exchange should be described in detail and precisely.
The declaration protects the interests of the debtors. If it had not been written, the creditor could enter any amount to be paid on the bill of exchange, then demanding its settlement.

Loan loans are a risk

Loan loans are a risk

Securing a loan with a promissory note poses a threat to the debtor. An dishonest creditor may supplement an excessive amount to be paid on the document, and then release the bill of exchange, i.e. sell it to another person or company. At the time of sale, the creditor’s rights are transferred to the new bill holder. He will have the right to demand payment of the amount visible on the document he has purchased.

A similar risk occurs when the borrower repays his debt completely and the creditor sells the promissory note to a third party. Why is that dangerous? The promissory note does not lose its validity after the expiry of the obligation it secured. Despite the repayment of the debt by the borrower to the lender, the new holder of the bill may demand payment of the amount from the bill. In this case, the law is on the side of the bill’s purchaser. His request could be dismissed only if the promissory note issuer proved that he was acting in bad faith when buying a promissory note.

Is it still worth borrowing for a promissory note?

Is it still worth borrowing for a promissory note?

A blank promissory note is a risk, so if you can, reach for a loan where this type of security is not required. However, it may turn out that the considered loan for a promissory note will be the only way out for you or will prove to be the most attractive financing proposal, e.g. it will be much cheaper than alternative offers. If for some reason you decide to take out a promissory note loan, remember to take precautionary measures that may protect you from financial loss.
To avoid the dangers of securing debts with a promissory note:

  • issue a promissory note declaration in which you describe in detail the circumstances that allow the creditor to complete the missing data on the promissory note. The declaration should be made in two copies, signed by both parties,
  • place an annotation on the bill of exchange regarding the preparation of the declaration . The note obliges the buyer of a promissory note to read the declaration, and thus learn the principles of monetizing paper. In the event of a dispute with a new promissory note owner, such preventive measures will allow you to prove the gross negligence of the promissory note buyer, which may weigh the scales on your side.
Public debt: the most important economic scale of the State Thu, 02 Jan 2020 22:40:30 +0000 Read More]]> Public debt appears at the moment when the government of a country cannot meet spending needs. That is when private sector financing is required. Who requests this funding? The central government, autonomous communities, town halls, councils and social security. The set of these debts is what is called public debt.

The State creates fixed income securities with a specific maturity and interest. They are the well-known Treasury Bills, Bonds and Treasury Obligations. Investors, who can also be individuals and not only large investors or funds, are the ones who buy these Letters so that the State acquires the capital it needs. In return, these investors receive an interest for each Letter.


Difference between public debt and country deficit

Difference between public debt and country deficit

The deficit is born from the budget balance. In the same way as a private individual, the state has certain income and expenses. By taking a year as a reference, if more capital has been spent than the inmate, the year with deficit is closed. If the situation is the opposite and the balance is positive, we are facing a surplus stage.

Debt, as you have seen, can be defined as the reflection of the set of accumulated deficits in the country.


Situation of Spain at European level

debt problem

In 2015, Spain’s public debt was above 100% of GDP. If we consider that in the third quarter of 2018 that figure remained at 98.30 percent of Gross Domestic Product (GDP), according to the latest date published by Eurostat, we can see a slight improvement. The 28 countries of the European Union achieve a lower average, and the public debt is positioned at 80.8% of European GDP.

In the 28 countries of Europe analyzed by Eurostat you can see how there are countries that exceed 100% of their GDP in public debt, as is the case of Greece, Italy, Portugal, Cyprus and Belgium. On the other hand, other countries like Estonia do not reach 10%.


International Action Plan

debt loan

All public entities, and more central governments, are aware that reducing public debt is a determining objective. That is why we work to find solutions, which go through the tightening of financial conditions.

The International Monetary Fund made public, in October 2018, a much more positive forecast. According to the IMF publication, the concern for the sustainability of public finances decreased. This is a consequence of the difference between the economic growth rate and the real interest rate; which will be lower in all member countries of the euro zone, including Spain.

Small loans available for pensioners. Mon, 16 Dec 2019 23:31:02 +0000 Read More]]> Among the categories of customers to whom small loans are addressed, there is that of retirees , who often find themselves in the position of having to apply for a loan. Let’s find out in detail everything you need to know about this form of loan: what are the requirements to have access to it, how to request a free quote with calculation of the repayment installment and how to make the request for the small loan you want.

A topic that has been topical for some time in Italy is that relating to the economic conditions of our pensioners. The income received by Italian elders is often too low, and many people struggle to make ends meet. For this reason, small loans are born, designed precisely for those retirees who need a small amount of money to cope with an unexpected expense.

Small loans for retirees: what are the requirements?

Small loans for retirees: what are the requirements?

If the situation of pensions in Italy remains a significant problem, at least as far as loans are concerned, pensioners can consider themselves lucky with regards to the treatment that is reserved for them. The main problem of people looking for a loan, even if for a small amount, is always the one relating to the requirements that we must meet in order to have access to the credit we need. Often the guarantees required by the various banks are too restrictive, therefore many have to give up the desired loan, or have to accept a worse treatment if compared with that provided for classic loans.

Why are pensioners protected in this sense? The reason is very simple: the pension that is paid every month by Social institute constitutes an insured income for the customer, therefore the bank will have no problems in granting the desired loan. So if you are retired and looking for a small loan, be aware that the only guarantee that you will have to present to the bank you will contact will be the last pension slip. Regarding the personal data, the maximum age limit beyond which it is not possible to receive funding depends on the bank you contact, but it is usually set at 75 years.

Who to contact to receive a small pension loan

Who to contact to receive a small pension loan

Today, much more than what happened a few years ago, it has become a real company to choose which company to rely on to receive the financing we need. Especially when it comes to small loans, the products that are made available to us are many, and are aimed at meeting the needs of any customer. So it is good to inquire about all the opportunities that the financing market offers us, in order to identify what is right for us. So let’s see which are the best banks to turn to if we are looking for a loan for a small amount, especially for pensioners.

As always, our advice is to rely on the major companies, which certainly offer greater reliability than smaller companies, as well as usually offering a wide range of products to choose from. To choose which company to apply for a small loan for retirees, our advice is to visit the websites of the various banks, where you will find all the information about the products reserved for customers. Furthermore, it is often possible to find special offers valid only for some periods, therefore it is good to always keep informed about it.

Small loans for retirees with assignment of the fifth

Small loans for retirees with assignment of the fifth

One of the most convenient formulas regarding loans granted to pensioners is undoubtedly the so-called assignment of the fifth. If you have started looking for information on loans for seniors, surely you have read this option, offered by all the major companies. What is it about?

The assignment of the fifth is a form of loan intended for civil servants and pensioners, to that category of customers who can therefore guarantee the bank an insured income every month. The main feature of this product is described by the name itself, and is represented by the fact that the repayment installments that will be paid each month will never exceed one fifth, i.e. 20%, of the salary or net pension received.

This means having the guarantee that the financing expenditure we will receive will not unduly affect the monthly budget available to us. A further advantage is represented by the possibility of paying the installments, making us deduct them from the pension that we receive every month.

So we will have no problems such as remembering to pay by the due date, with the risk of penalties in case of late payment. Finally, as regards the interest rate applied to the sum that is lent to us, this is usually lower than that of “classic” loans, precisely because of the guarantees that we can give to the bank that grants us the loan.

Loans for Home Appliances Thu, 12 Dec 2019 23:34:13 +0000 Read More]]> If the dishwasher is not working properly or the refrigerator is old, it may cost you more in water and electricity than it will cost you to replace your home appliances.

Of course, you may not be able to afford to buy new. With a loan for home appliances you can have them replaced so that the electricity and water bills are not huge. And so you get more efficient machines at home.

Here you can apply online loans for home appliances, completely free and without obligation:

Do you need a loan for new appliances?

Do you need a loan for new appliances?

If you start thinking your kitchen could use a renovation but don’t feel you can afford to pay for it, you can start by changing some things out. For example, you can change your refrigerator, dishwasher, or other home appliances.

But that can be expensive enough in itself. For a refrigerator or washing machine can cost a lot of money. However, if they are driving poorly, it may be a good idea to get a loan, as it will save you money on your bills in the long run.

There are various options for borrowing money for new home appliances. You can ask in the bank, but otherwise there are both the loan companies online and even the companies that sell home appliances.

Snopes family recommends that you search with 2 providers online and at the same time investigate the financing options at the retailer. It will make you smarter at the price level and help you find the lowest borrowing costs.

Purchase on installment is an option, but can in some cases mean extra prices – a bit like interest and fees. It is only with an interest-free loan for home appliances that these solutions are particularly advantageous.

Buying on installment versus borrowing

Buying on installment versus borrowing

Whether it’s best to borrow the money or buy on installment can be hard to say. It all depends on your financial situation, how much money you will need and how long you will need to pay the money back. Below you can compare the loan companies with the installment agreements you can get from the companies.

  • Good Finance

At Good Finance you can apply up to USD 6,000 and get a 50% discount as a new customer. You must be 20 years of age, you must not be a member of RKI and you must have a Easy ID. You must repay the loan within 30 days.

  • Good Credit

Good Credit has much the same requirements as Good Finance and offers 4,000 kroner loans to new customers. You can apply up to 10,000 if you are an existing customer.

Good financing options if you only have a small need for money

Good financing options if you only have a small need for money

If you prefer to buy your goods on installment, this can easily be done. Both Point1 and E-Money have financing options, so you pay a monthly amount for your purchases. The price varies, of course, according to what you buy and how long you choose to pay the money back over.

Loans for Bad Payers: the Transfer of the Fifth – How to do it? Thu, 12 Dec 2019 20:15:17 +0000 Read More]]> Assignment of the fifth: loans for bad payers

Assignment of the fifth: loans for bad payers

Even bad payers, that is customers who have not been able to pay one or more installments of the loan on time, can access credit. Loans for bad payers can be disbursed through the assignment of a fifth of the salary or pension.

Bad payers: who they are

Bad payers: who they are

The banks are making loans for bad payers with difficulty. In fact, thanks to the Central Credit Register, a system managed by the Best bank, the financial institution can check the customer’s status, thus assessing his credit history.

The name is kept on the ” bad payers lists ” for a period of time that varies, depending on the seriousness of the default, from 12 to 36 months. In this specific period, access to credit can be difficult: the bad payer is associated with a high risk of insolvency, therefore banks and financial companies tend to reject any requests for financing.
However, even bad payers can get financing thanks to the assignment of a fifth of their salary or pension.

The assignment of the fifth: a simple loan solution for bad payers

The assignment of the fifth: a simple loan solution for bad payers

The assignment of the fifth is a type of non-finalized personal loan that allows the applicant to obtain up to 60 thousand USD at a fixed rate, even if he has been reported as a bad payer. To access this loan you need:

  • be a permanent employee employed;
  • a pensioner;
  • a worker with a fixed-term contract, provided that the debt is extinguished within the deadline of the employment contract itself.

In the presence of these indispensable requisites, the loan is granted with relative ease, since the repayment installment is withheld directly from the salary or pension.

The amount of the installment cannot exceed one fifth of the salary, therefore the sum loaned will be proportional to the income of the applicant. The employer has no say in the loan. He will be contacted by the bank because the loan can only be disbursed upon confirmation of the contract by him.

What are the guarantees for the financial company?

In order to grant loans for bad payers (but in reality for all the other types of customers), when they request a loan with assignment of the fifth, it is necessary to take out a compulsory insurance policy. This protects the bank in the event of exceptional events such as death or job loss.

In the event that the applicant is an employee of a private company, the insurance company, which bears the final risk of the operation, may request the presence of a series of objective requirements in terms of corporate form, such as:

  • minimum number of employees (tending to exceed 15);
  • share capital above a predetermined level.

In the assignment of the fifth, a further form of guarantee for the bank is represented by the severance indemnity accumulated during the working life of the financed subject. The greater the length of work, the higher the TFR and the greater the guarantee for the bank.

Spring warming in mortgage loans Tue, 29 Oct 2019 07:50:30 +0000 Read More]]> The snow and low temperatures outside have not frozen the bankers who are already preparing an offer for a spring blow. Particularly in the mortgage market, there is a thaw.

After a few calm weeks, when there was relative stability in the offered price conditions, February brought a lot of recovery. More banks have proposed their new offers.

Obtaining the above conditions

However, requires you to pay a high commission of 3.5 percent. In addition to this bank’s offer, it is also worth paying attention to the Good Lender offer. A bank that offers an even lower margin.

In the first three years of lending, the obtainable margin is 0.79 percentage points, and in the following years the margin of 1.29 is also one of the lowest on the market. Both offers require several additional conditions, such as opening an account and regular receipts of a certain amount.

Thanks to regular inflows to your personal account, you can also lower your loan margin in the new E-Money offer. It is worth paying attention to this proposal, because the margin possible to obtain is even 1.00 percentage point, making this offer together with the lack of commission for granting a loan one of the most competitive on the market today. At E-Money, the credit margin can also be reduced by using a credit card, bank deposit or investment funds from the bank’s offer.

The new price conditions

Offered by the above banks bring these offers closer to those available on the market in 2007 and the first half of 2008. At that time, a margin of less than 1.00 percentage point was available to almost every customer taking out a loan in USD.

Currently, obtaining a low margin is still associated with additional costs in the form of a high commission or the need to meet other conditions, such as topping up your account or the need to make transactions with a payment or credit card.

The situation when banks granted loans with a margin of 0.5 percentage point is still distant, if at all possible, but one should expect further reductions in other banks.

The first signs of a spring thaw in the mortgage market

That a hot period is coming in the mortgage loans. The offers presented above are undoubtedly a great challenge for other banks and will force the introduction of new proposals. Therefore, the competition should be expected to intensify in the coming weeks, which will result in better offers for customers.

The first moves from competing banks should be expected from March 1. Many institutions have set the deadline for the current conditions until the end of February, so the beginning of the new month should bring new proposals.