Why should I purchase a credit online?

When applying for a consumer loan, the network has made many tools available to us to reduce costs and reduce the time spent queuing and filling out forms. Applying for consumer credit over the Internet has never been easier, and this time we will see how it can be done.

Most credit companies, banks, and commercial houses have a specific line of credit available to users who operate on the Internet.

These consumer loans are usually cheaper

These consumer loans are usually cheaper

And have better rates and conditions than conventional loans. This has a logic: not only does the user save time and money by contracting a credit online, but the company also saves it, since it needs less personnel and infrastructure to meet this demand.

But, what are the requirements to apply for credit online? In general terms, the requirements are the same as if we went to the commercial office to request it: have a good past line of credit, have up-to-date payments, have verifiable capacity to meet the fees, have a specific project for the use of the credit, etc.

It should be noted that most of these loans are pre-approved, that is, that the user must finally go to the bank branch to deliver the money, and they are also standard, that is, that, in case of requesting conditions specials or an amount different from that offered by the company, one must also go to the branch to request it.

How to get the best consumer credit online?

How to get the best consumer credit online?

In most online forms to request a consumer credit, the basic data is completed, the fee is calculated and its review is carried out by the company’s risk department.

It is important to note that many companies request information or documentation to grant the credit, which can be scanned and attached to the form in question.

This question has an easier answer than it seems: Simulate and compare your consumer credit online in Compare. You will save time and money, it is totally free!

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What happens to the loan after a separation?

Many couples take out a loan together, for example to finance a car or to buy new furniture. But what happens to this loan if there is a separation or divorce? That depends on who signed the loan agreement. If the signature of only one spouse is under the contract, only that spouse is obliged to repay the borrowed money. Even if a gain has been made in the marriage, the other spouse is exempt from repaying the loan after the separation.

If it is debts from an overdraft facility for the joint account, both spouses must ensure that the debts are settled even after a separation.

If the loan agreement was signed together

If the loan agreement was signed together

If both spouses have signed the contract, both are liable for the debts. One then speaks of joint and several liability. This means that the installment loan must still be used by at least one of the borrowers after the divorce. If the ex-partner stops paying, the bank can claim the debts from you.

This can only be changed if you have the loan rewritten. You can then have the credit agreement changed in consultation with the bank so that – even after the separation – only one spouse is obliged to repay the loan.

If you have taken out a joint loan for mortgage lending and both partners are owners in the land register, both will also be liable for the loan taken out after the separation – even if only one has signed the contract. However, with the consent of the bank, you can agree to release the debtor if you separate: one borrower takes over the other’s ownership. The prerequisite for the bank is that the new sole owner can continue to finance the loan after the divorce.

If a guarantee has been taken out

If a guarantee has been taken out

In the case of a loan with a guarantor, the guarantor is liable for the ex-partner’s debt even after a separation or divorce. If he no longer meets his payment obligation, the guarantor must continue to pay off the loan – regardless of whether this still happens in the marriage or after the separation. Here, too, it can only be agreed through a release from guilty liability that the guarantee is terminated in the event of a separation and that the guarantor can no longer be held liable for the payment obligations.

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Loan Term – How To Determine The Term For Your Loan!

When deciding on a loan, the loan term is one of the most important factors you need to consider. Many do not worry about it and later have problems with the repayment. The following article deals with the question of which loan term is optimal for you and how you can determine it.

 

Why is determining the loan term so important?

loan term

By determining the loan term, you decide how much money you will spend on the loan per month over the next few years. If the term is too short, the monthly installments rise sharply. This puts a heavy strain on your budget and may lead to severe restrictions in your lifestyle. However, the loan should not run too long either, as this makes the loan more expensive. Building finance is an exception, since the loan amount is usually relatively high and it is not uncommon to conclude it over a term of 30 years. When taking out the loan, you always have to think long-term. The loan term is often 5 years or more. If you calculate too little, your household budget may experience low tide in the next few years.

 

Why do longer terms incur higher costs?

loan terms incur higher costs?

When taking out a loan, you pay interest for the entire term of the loan. If the loan runs for five years, the interest is less than for a ten-year term. Overall, the bank gets more money from you.

Another reason is the interest rate. A longer-term loan is usually higher. With a ten-year loan, the bank takes a higher risk. During this long period of time, the risk of a credit default due to death or unemployment increases. If, on the other hand, the loan only runs for five years, the risk is there, but less. The higher interest rate is intended to limit the financial damage.

“The longer the loan term, the more expensive the loan becomes.”

 

How to determine the appropriate term for loans

How to determine the appropriate term for loans

You can determine the optimal loan term using a household book. You need to know how much money you are spending each month and whether you have any leeway for a loan at all. If your account is permanently overdrawn and falls into the overdraft facility, you should make this list particularly conscientious. Incidentally, many credit institutions also require a self-assessment of their expenses.

  • List all expenses in your household
  • Make a list of all income (work, extra income, rental income, pensions)
  • Find the difference between the two sums. Leave a larger buffer for unforeseen expenses
  • Use a loan calculator to test different loan terms.´
  • Increase or decrease the loan term until you determine an appropriate monthly repayment

When it comes to the list of income, think of larger expenses for which you have to put money over the course of the year. This can be a new vehicle or the next family vacation.

You cannot extend the loan term as you like. Real estate loans often run for ten or a maximum of 15 years. Consumer loans generally have a maximum term of seven or eight years. If you notice that you have financial problems despite a long term, you have to reduce the loan amount. Under no circumstances should the monthly rate be too high. It is better to calculate a little lower. Unfortunately, unforeseen incidents happen again and again and then you may run into financial difficulties.

 

Can you change the loan term at a later date?

loan term at a later date?

If you want to extend the term of a loan, you have two options. You can cancel the loan and conclude a new contract with a longer term. If you are only interested in extending the term of a loan, this procedure is not recommended. Most loans require you to pay a prepayment penalty if you cancel early. This amount is due because the banks expect the money for a long time. Since they invest the money themselves, the bank has an interest loss if it is repaid early. The bank passes this on to its customers. A new contract is only worthwhile if you also receive lower interest, which your previous bank does not want to pay.

In most cases, debt rescheduling is better. In this case, no prepayment penalty is payable if you stay with your old bank. Another advantage is that it usually works without major formalities. Since the bank already values ​​you as a good customer, it often does not provide proof of earnings.

If the interest rate has changed since the contract was concluded, it may be lower or higher. You should take this into account when rescheduling.

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To succeed your credit redemption simulation

To make a credit redemption simulation, it’s pretty simple. All you have to do is fill in the credit redemption simulator, your perennial income, all your consumer credits, your online credits and your overdrafts, then the monthly installment of your mortgage or your monthly rent if you are a tenant. We all know the criteria of all credit repurchase banks which are credit organizations specializing in consumer credit repurchases or repurchases of mortgage loans. There are two types of credit consolidation. Do not wait, a credit redemption or credit consolidation can allow you
to balance your budget again.

1st type of credit redemption: the purchase of consumer credit

1st type of credit redemption: the purchase of consumer credit

During a simulation of credit redemption, you will indicate all of your credit cons, your personal loans but also your home loans. We do not have to buy the mortgage. You can therefore keep this loan and therefore its monthly payment. Generally, if you have less than 60% mortgage loan to buy back, the purchase of credit simulation will indicate that it is a repurchase of consumer credit. Thanks to our simulator, we can get the best rate for a buy back credit.

We can even make an online credit redemption, which saves a lot of time.

2nd type of repurchase of credit: the repurchase of mortgage

2nd type of repurchase of credit: the repurchase of mortgage

If you have more than 60% real estate credit to redeem, the simulated credit surrender will indicate that it is a real estate loan redemption. A mortgage will be required on your principal residence. The advantage is the possibility of spreading the loan over time and thus obtaining a smaller monthly payment. The credit rate will be lower than a buy back of consumer credit.  If you have done a credit simulation that turns out to be positive, you can now apply for a loan buy online, we will find you the best rate and very good conditions.

When setting up a restructuring loan, it is wise to take stock of all your needs (future invoices and various works to be planned) in order to start on a good basis.

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What are the reasons for rejecting a loan application? And what about it?

 

 

Filling in a non-binding online loan application is the first step to processing a loan and eventually raising funds. However, the demand from the client must not always be dealt with positively, in which case the request will be rejected, which usually does not allow any “appeal”. In what cases can your application be rejected or you will not even receive any comments?

Why did I decline my loan application?

Why did I decline my loan application?

Of course, in a situation where you are applying for a financial injection, rejecting the application is frustrating, but it can be partially prevented. Therefore, we will discuss how to do this below. We will show you how companies proceed in evaluating applications, when the application is automatically rejected and when a response can actually be expected.

When is a loan application rejected immediately?

When is a loan application rejected immediately?

There are not many of these cases, but with reasonable lenders, this group includes insolvent candidates. Under no circumstances will the bank or non-bank providers lend money to such applicants. Of course, there are some exceptions, but we would definitely not recommend it to anyone (usurers, private individuals, etc.). If you are in insolvency for a loan of your own interest do not even seek. However, do not even try to hide this fact in the loan application – the provider will find out anyway in the evaluation of the application.

When will I receive a response to my request?

When will I receive a response to my request?

This is very individual, it is a bit different for each provider. Some companies are connected to various online systems and can assess candidates in real time at any time of the day or night. On the other hand, some companies evaluate applications partly by human force – and therefore only during working hours. It is therefore clear that while the first company will receive a statement within 5 minutes. For the latter, it may take several days (in the case of a Friday night application).

Why didn’t anyone contact me?

 

How is it possible? If you have applied for a loan from a bank, you should always receive a statement of confirmation or refusal. It does not necessarily give a reason, but you will receive a notification each time. However, this is not the case with non-banking companies. Therefore, a non-banking company does not need to notify the candidate.

Why was my loan application rejected?

Why was my loan application rejected?

Again, there may be a number of reasons, but the main reason is that you already have a debt with another company , or you have insufficient creditworthiness . In such a case, the provider protects both himself and you – the consequences of non-repayment of the loan can cause serious difficulties for the client – and of course the lender is interested in having his loan repaid properly. An important factor is also the history of the client and his payment discipline, which can be safely read in various registers of debtors. All of the above reflects the candidate’s overall creditworthiness – which is crucial.

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Credit without Credit bureau for Social Welfare recipients.

Financial possibilities are severely limited

Financial possibilities are severely limited

A loan without Credit bureau for Social Welfare recipients is possible via private loans, but in no case via banks, unless an additional guarantee is given to the bank. The guarantor himself must be willing to accept this guarantee, and he must also have a regular income of at least an average amount.

Employment as an official is also advantageous due to the increased protection against dismissal, but not mandatory for a guarantor. The Social Welfare recipient cannot get a loan without a co-applicant and / or guarantor, because his income and creditworthiness are simply too low. The fact that the Credit bureau is not checked is still to be viewed as negative, even if no rejection would occur due to a negative Credit bureau rating.

Both the bank and the borrower must always view the loan from a moral point of view. As a Social Welfare recipient, the financial possibilities are severely limited, which is why a loan without Credit bureau for Social Welfare recipients is always associated with a risk of impending over-indebtedness.

Even very low installments cannot be paid on time if there is insufficient financial buffer in your own household. The likelihood of over-indebtedness is therefore high, even if the installments would have to be borne by the guarantor in the short term.

More flexibility with a personal loan

More flexibility with a personal loan

The personal loan is so advisable for a loan without Credit bureau for Social Welfare recipients, since it is much more flexible and usually even cheaper. This is simply because private lenders usually have a good relationship with the borrower, otherwise the loan would not even be issued. Thanks to the good relationship, a flexible plan tailored to the possibilities of the Social Welfare recipient can be created, which ensures the repayment of micro and small loans.

The loan without Credit bureau for Social Welfare recipients is usually not too high, which is due to the fact that the lenders deduct the loan amount from their private income or their own savings. Of course, unemployed borrowers only want to borrow as much as they actually need.

For many people, taking out the loan without Credit bureau for Social Welfare recipients in a private environment may involve mastering a moral hurdle. Because borrowing in the closest private environment is always associated with shame, even if the selected lenders come from the family and you are therefore happy to help out of a financial emergency. For this reason, the interest burden is often completely eliminated.

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Credit with immediate approval without Credit bureau.

Nowadays it is almost normal for a loan to be taken out for all kinds of things. Some take over with a loan or are excluded from lending because the credit rating is too poor. Often important bills cannot be paid and the cycle of the debt trap begins. Many then have only one option, namely to take out a loan with an immediate commitment without Credit bureau.

Capital lender credit – special features

Capital lender credit - special features

If you want to take out a loan with an instant approval without Credit bureau, you will quickly see that it has many special features. This credit is not entered in the Credit bureau as it is in Germany. The banks abroad also do not check the applicant’s Credit bureau entries, so those with poor credit ratings can be successful here. The loan does not necessarily have to be applied for abroad, it is sufficient if a credit broker is involved.

Loan seekers can find this on the Internet, where there are numerous intermediaries. However, these should be compared with each other, because the fees of the intermediaries can vary considerably. In this way, the loan can be taken out from the comfort of your own home with immediate approval without Credit bureau. The credit broker primarily needs pay slips, proof of residence in Germany and a copy of the ID.

As soon as he has checked this and receives a loan amount, he sits down with many banks in Switzerland that will offer the loan seeker offers. As soon as a loan with an immediate commitment without Credit bureau has been decided, a contract can be signed and sent to the bank.

What conditions have to be met

What conditions have to be met

Loan seekers who are interested in an instant loan without Credit bureau will only receive it if certain conditions can be met. So there must always be a fixed income that can be attached in the event of a loan default. It must not come from self-employment or from social benefits.

Self-employed people earn different amounts of money each month and social benefits are not counted as income. Unemployed people, the self-employed and even students or schoolchildren cannot apply for a loan in Switzerland. Proof of residence in Germany must be provided and the applicant must be at least 18 years old. This is the only way to apply for the loan.

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