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Principle of credit consolidation

 

The consolidation of loans is often confused with the operation of repurchase of mortgage because if the regrouping consists in redeeming outstanding loans, it is generally not to make savings on the interests but rather to reduce the monthly payment of the loans being reimbursed, and this inevitably involves an extension of the duration. golf-ology.com for further clarification

The principle is therefore relatively simple since it is possible to group credits of different natures, that is to say consumer loans, housing loans but also debts (family, rent, loan between individuals). The idea is therefore to integrate all the sums due within a single contract which will consequently offer a single rate, a single duration and therefore a monthly payment revised downwards. This decrease of minus 60% if we refer to the main establishments offering these financing offers.

The repurchase of loans in the country

The repurchase of loans in the country

In the country, the repurchase of loans has long been seen as a bad transaction because it was unknown to the general public. The rate cuts and the work of the banks to publicize this financial product have made it possible to give it a more contemporary image and in line with the effects produced on household finances. Because, whether you own or rent your home, we are not immune to a payment incident or a possible change in situation that could lead to an increase in the debt ratio.

To be able to continue making projects and especially to continue to honor its loan repayments, the people no longer hesitate to redeem their consumer credit outstanding and for some to include their home loan to benefit, in the end, with a tailor-made deadline perfectly suited to their income. Now, all financial organizations offer this banking product,

The loan buy-back solution

The loan buy-back solution

Several credits in progress combined into one requires to buy back each loan and therefore to find a financial organization offering this type of solution. There are also several types of repurchases of which the best known are simply the repurchase of consumer loan and the repurchase of mortgage. One does not exclude the other, that is to say that it is the share of real estate outstanding which determines the nature of the financing, below 60% of real estate share, we orient ourselves on a repurchase of credit consumption, above, you will understand, this is real estate financing. This rule is quite simply extracted from the texts of laws which regulate the consumer credit and the mortgage.

Note that a repurchase of receivables induces irreparably costs, which first consist of early repayment costs (repaying a loan before its term entails costs), guarantee costs (in case of request for mortgage guarantee or surety) and administration fees and / or brokerage fees. It is also important to know that some credit companies use the term mortgage repurchase to denote the transaction involving a mortgage guarantee. This type of guarantee is the most frequent in the field of restructuring, a visit to the notary is also necessary to apply the raised hand and the drafting of the notarial act.

How to write a credit request?

When an individual wants to buy a car, do work in their home, or even buy a new washing machine, consumer credit is an immediate financing solution to cover these important expenses. But before carrying out these projects, it is still necessary to put all the chances on his side by effectively writing his request for credit.

Consumer loan request letter: Primordial information

Consumer loan request letter: Primordial information

The consumer loan is a credit contract signed between an individual and a lender. To assess the borrower’s financial needs, he must be precise when writing his letter of request for credit. It is necessary to indicate in the mail:

  • bank details;
  • the exact amount of the expenditure that the borrower wishes to finance with the credit;
  • the nature of the expenditure that the individual wishes to finance with the requested amount;
  • the amount of credit that the borrower wishes to obtain from the lending organization.

Why should you take care of your conso credit application?

Why should you take care of your conso credit application?

Based on this request, the individual will receive a document called a credit agreement, which will specify the terms of the credit:

  • the total amount he wishes to borrow;
  • the duration of the credit and the installment of monthly payments;
  • the total cost of the loan;
  • the APR (overall effective annual rate);
  • repayment terms.

It is from this document that the individual makes the decision to take out a loan, so it is important to be precise in his request in order to receive the loan proposal most suited to his needs. To facilitate these steps, it is possible to simulate requests for credits in order to assess the chances of success of your request.

For a score with a range between 300-850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most credit scores fall between 600 and 750.

A credit score of 900 is either not possible or not very relevant. The number you should really focus on is 800. On the standard 300-850 range, a credit score of 800+ is considered “perfect.” That’s because higher scores won’t really save you any money.

Can I renegotiate the interest rate during loan repayment?

 

The loan is repaid according to a predetermined schedule. The customer undertakes to pay equal or decreasing principal and interest installments on specified dates. However, during repayment, can it renegotiate credit terms, and in particular interest rates?

 

Renegotiations of interest during loan repayment with the bank are possible, but they do not always bring the expected results. The borrower applying for renegotiation must have a good reason that will convince the bank to do so. 

 

Renegotiations possible

Renegotiations possibleRenegotiations possible

Reluctantly, but banks may proceed to renegotiate the interest rate on the loan already during its repayment, but the client in the application submitted to the bank must provide a really important reason why such action would be justified. The sole fear of losing a single customer is not enough for the bank to want to lower the borrower’s interest rate.

 

On the other hand, it is possible to negotiate a better interest rate during a loan if market conditions have changed significantly. There were high margins at the time the loan commitment was made, and they are currently low. Therefore, the customer has a serious argument to initiate interest rate renegotiations. It is advisable especially when the loan is to be repaid for many years, and at the same time has a high amount.

 

What other option instead of negotiate?

What instead negotiate?

If the renegotiations of interest during the repayment of the loan do not bring the expected results or the bank refuses to join them at all, the client may refrain from further action or decides to transfer the liability to another bank.

 

Refinancing loan repayment or consolidation, if the borrower has more than one loan or repayment loan, they can bring real benefits in the form of lower principal and interest installments. It should be checked, however, whether they result from lower interest rates and more favorable loan repayment terms, or whether, for example, their amount is related to the extension of the loan repayment period. In the latter case, yes, the client charges his monthly budget less, but at the same time a longer period of payment of installments increases the total cost of credit, which the borrower must be aware of.

 

Both refinancing and consolidation loans it can be granted only to those clients who are not indebted, ie they regularly paid principal and interest installments to the bank. 

Get a mortgage loan with a minimum wage

Obtaining a home loan with a salary at the minimum wage is quite possible, it is above all the ability to borrow that will make this project possible.

Borrow from the minimum wage: what you need to know

Borrow from the minimum wage: what you need to know

Access to property will require filing a mortgage loan application with a bank in order to obtain financing. The financial institution will systematically carry out a study of the borrower’s solvency and the first stage of this study will concern the estimation of the borrowing capacity. It is simply a matter of taking into account the salary of the applicant and checking his debt ratio. You should know that it is not the amount of salary that matters, it is above all the part that can be devoted to the reimbursement of one or more monthly payments. A candidate who receives a minimum wage can easily obtain a mortgage.

You should know that in terms of bank credit, it is possible to devote up to 33% of your income to repay various monthly payments. If the borrower does not repay any credit, he can therefore devote up to a third of his salary to repay a monthly mortgage loan. Obviously, the other requirements of the bank must be respected.

Home loan conditions with a minimum wage

Home loan conditions with a minimum wage

If the salary is not necessarily important, it will still condition the maximum amount that the borrower can get depending on the repayment period. It is therefore possible to estimate the capacity to borrow and to project over a period, which makes it possible to inform the borrower of the overall envelope that he will be able to obtain, this then facilitating the search for real estate. It is also necessary that the minimum wage is attached to a contract or equivalent (official holder), note that the presence of a co-borrower (spouse) in situation can affect the feasibility of financing.

The bank will therefore take into account the salary but also the expenses of the household, the possible number of children but also credits in progress. All this will be specified during the borrower’s funding request, but the borrower must provide supporting documents: salary statements, account statements, tax notices, etc. These documents will allow the bank to have an overview of the applicant’s situation and to be able to inform him of the possible solutions. Note that for households earning modest incomes, it is possible to benefit from the zero rate loan but also from other devices such as the loan for social accession or the employer loan at 1%.

Simulate your mortgage online

Simulate your mortgage online

It is possible to simulate a mortgage loan request with a minimum wage, this allows you to be informed of the current conditions of the banks but also and above all of the feasibility of the project for the candidate. As a financial brokerage center, offers you an online credit simulation free of charge and without obligation. This makes it possible to better compare the banks’ proposals and to obtain financing more easily.

Maximize Credit Card Cashback Amounts This Way

You certainly need to have a credit card that’s right for your shopping habits. Consider the credit card limit you choose and of course the bank’s credit card provider reputation. Does the bank have a cashback reward program or not. If the type of credit card that you have doesn’t have a cash back program, then it’s useless, you also can’t continue to follow the next tips.

 

Use the Credit Card Every Time You Shop

Use the Credit Card Every Time You Shop

Buy groceries at the supermarket, lunch at a restaurant next to the office, buy a new cellphone and laptop, shop for shoes and clothes monthly, then you can use a credit card. If you want to get a cashback reward, of course you need to use a credit card when shopping as your shopping payment card and as often as possible. Find merchants and stores that provide cashback reward promos.

For this method, you must update information about the credit card reward program that you use through the website or ask the customer service. Some credit cards also offer a point program for each of your transactions. So do not be discouraged if you have not managed to get cashback. Because if you don’t get it now, your points can be exchanged for certain items or gifts provided,

 

Big shopping? Use a Credit Card

Shopping with great value such as buying gadgets, household electronics or household appliances, then you can use a credit card. This type of shopping is very potential for you to get cashback rewards. Of course, look for information on the cashback reward program. Especially for the latest types of gadgets or electronic products, many cashback programs with a sizable nominal up to 25 percent of total spending.

But the reward program is usually not valid if you pay in installments, must be cash. Just called the cash back program. If you have a dream gadget that you want to buy, you better save first to be able to pay it in cash and have the opportunity to get cash back offered.

 

Pay installments or DP with a credit card

Offer a Friend Using a Credit Card

Every month, you certainly have a budget allocation to pay installments. Whether it’s a house, car or apartment and so on. Use your credit card to pay installments. Cash back programs are usually applied for the initial installment period or the first 3 months of the installment. But of course this installment is for large purchases, like cars or houses. Or it can also when you make a payment with a certain nominal you get cashback. Well of course you need to know information about this program and learn the terms and conditions

 

Offer a Friend Using a Credit Card

Are you planning a vacation with friends?. Well, you can offer them to pay for plane tickets, travel and hotels with your credit card. After that, your friend can pay in cash. One type of cash back reward program for most credit cards is for shopping and airplane ticket types. In addition to that purchase, you can also offer your friends who want to buy certain gadgets or electronic products.

Not Forever Credit Cards Harm You

Many people who feel that using a credit card will give you more losses and difficulties. However, in reality not really. Because, basically these losses and difficulties only come if we can’t use them properly and wisely. So, let’s use a credit card and take advantage of the cashback feature!

What credit to finance a wedding?

 

In the country, the average budget for a wedding is around $ 12,000, a substantial sum which can be financed by means of a consumer loan, even a grouping of credits.

The financing of marriage

The financing of marriage

Most people will underestimate the budget of a wedding, they will generally count on a budget of $ 6000 to respect in order to organize this unforgettable day. Simply, between the reservation of the place of celebration, the decoration, the budget for food and drinks but also the wedding outfits as well as the festivities, all this can quickly inflate the bill. According to a study, the people spend a budget of $ 12,000 on average to organize a wedding. A sum which remains nevertheless significant and which can be financed in different ways.

The choice of financing will play an important role because it is ideal to plan an available envelope which we will be able to use according to the expenditure items. It takes several months or even a year to prepare a wedding and finance the various needs as you go. This allows you to be ready for the big day and to allow the family and the guests to benefit from this event which must remain unforgettable in everyone’s mind.

Marriage: personal loan or loan consolidation loan

Marriage: personal loan or loan consolidation loan

There are two financing solutions that perfectly meet the financing needs of a wedding. We will first identify the personal loan which is a consumer loan that the bride and groom will be able to take out together in order to obtain a fre and sum and without necessarily presenting supporting documents. This is the whole point of this loan because it allows you to break down the amount available according to the planned expenses and even to foresee a small surplus for the unforeseen. We are talking about the absence of supporting documents concerning the amount requested but it will indeed be necessary to submit a file with mandatory documents to validate the obtaining of funds.

When a couple is already repaying different loans (home loan, car loan, work loan, etc.), it is sometimes complicated to accumulate a new monthly payment to finance a marriage. In addition, certain financial institutions may refuse the loan of money for reasons of indebtedness or of living expenses. In this situation, it is more judicious to turn to a loan of grouping of credits which will consist in making repurchase its current loans and to add the amount necessary for the financing of the marriage. The advantage is to be able to benefit from a single contract with a longer duration, a fixed rate and above all a reduced monthly payment.

Simulate a credit request for your wedding

Simulate a credit request for your wedding

The success of the union of two people will mainly go through the entire stage of preparation and financing of the marriage. Before saying yes to an assembly, you must obtain the blessing of a financing organization which can be a bank or a credit institution. To facilitate obtaining the necessary sum, we offer to assist you in setting up a loan that meets your needs but also your personal and financial situation. The simulation is fre and and without obligation.

The best personal loans

Hands up those who are not starting to organize Christmas presents, or those who have already moved forward avoiding the crowds of the last few days. The Italians perhaps devote less budgets than in the past, but Christmas gifts, useful or superfluous, are still important for our tradition. For this reason, thinking of using a small loan to fulfill the pleasant Christmas duties could be a solution to give and – why not – give yourself something special.

Choosing the best loan is not easy or discounted, it requires that you have clear the installment that you can support in proportion to the monthly income and that you find the most convenient solution for your pocket. In this regard, when identifying a loan, it is necessary to check the most important parameter: the APR. If in fact the TAN (nominal annual rate) is the rate used for the calculation of interest, the APR includes the so-called ancillary charges : preliminary fees, opening fees, installments and compulsory insurance costs. For this reason, the real cost of a loan is not given by its TAN but by the APR itself.

Choose the best loan for your pocket

money cash

The number one rule for choosing well is to compare, and the way to do it quickly and for free is to rely on the PrestitiOnline.it comparator. Here we report an example of the best loans at November 19 for the main and most requested purposes, remembering that it is always possible to request a personal loan estimate customized and tailored to your needs.

The best loan to please everyone at Christmas

A small sum of 5,000 dollars in 48 months to make a gift to everyone in the family has the most convenient answer. Lite Credit. The monthly payment is 118.39 dollars, with Taeg 6.61% and initial expenses of 224.66 dollars.

Lite Credit is a Digital Credit Platform that allows a community of professional investors to directly finance personal loans to a community of applicants, offering a fair system of loans.

Once the request for financing has been received, Lite Credit will contact the customer by telephone and e-mail, providing all the details on the steps necessary to obtain the loan.

The best loan to change your car

The best loan to change your car

If Christmas will bring you a used but more efficient car, then for a loan of 10,000 dollars in 84 months the best solution is ConTe.it Personal Loan . The monthly installment is 145.61 dollars with Taeg 6.06%, while the initial costs are for the investigation, equal to 460.25 dollars. All other expenses are zero.

Once the request for funding has been accepted, the amount will be disbursed, at the latest, within the eighth day following the notification of confirmation of the granting of the credit.

The best loan for home renovation

The best loan for home renovation

Are you thinking of tidying up your home and doing works that make it more beautiful and comfortable? For a sum of 25,000 dollars in 90 months, the best offer is Findomestic’s Credit Works for an installment of 349.39 dollars. The Taeg is 6.50% and the initial costs are zero. Accessory expenses are also zero.

Credito Jobs by Findomestic is 100% digital, because it is activated with a digital signature and is then managed online, via the web or for those who wish, in the agency.

The best loan to furnish your home

The best loan to furnish your home

Do you need to renovate your home and give it new furniture? Or has the time come to change the bedroom of grown-up children? For a sum of 10,000 dollars in 72 months, the best solution comes once again from Lite Credit.

Personal Loan in this case has an installment of 165.21 dollars per Taeg of 6.05%. The initial costs are for 405.83 dollars. The amount will be paid by bank transfer to the bank account indicated by the applicant, at the latest within the fifteenth day following the communication of confirmation of the granting of the credit.