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OGY – Chronicle Part 3 (Foreign Currency Loans)

According to the government, proposals on fair banks and forint conversion address the problems of foreign currency lenders, but the opposition did not consider the proposals in a joint debate conducted by the House on Friday to be sufficient.

Contrary to Roland Guys, unlike the socialist and liberal governments, they have promised to settle the situation of foreign currency borrowers.
According to him, the two bills jointly remedy the problems of foreign currency debtors and eliminate the foreign exchange risk of the debtors, which contributes to the stability of the financial system. Eliminating banks’ unfair lending practices, legalizing consumer protection guarantees, increasing transparency of interest rate conditions and eliminating foreign currency loans are measures that can significantly reduce the financial uncertainty factor, a pro-government politician said.
He stated that unilateral treaty changes should also be suppressed and that the most vulnerable should not lose their homes.

It is not foreign currency borrowers who should pay the price of the government’s economic policy

loan

Kauli Ahya emphasized that the exchange rate of the Swiss franc was 185 forints in 2010, and although the currency strengthened, the current situation was due to the irresponsible economic policy of the government. The price would not have to be paid by foreign currency debtors, he said.
Laws introduced under an agreement with the banking association transfer all the burden of the problem to one of the three actors, the debtors. They also lose hope that the exchange rate and their situation will improve, he said.
He also touched on “luxury investments” funded by György Matolcsy, the president of the central bank, saying that this is unworthy of a situation where there is such a social problem. In his view, banks could see to it that they had to be involved in solving the problem, so that debtors would not be impossible. He also said that family bankruptcy protection has been talked about for years, but nothing happens.

Missed punishing the banks

loan

Anul Laota (klali) asked the question: If there was an honest talk about punishing banks in the United States because of the crisis, why didn’t they do anything about it in Hungary? He said that if the legislature did not free people from the debt trap, then the Hungarian economy could not rise.
Among the risks assumed by foreign currency lenders, he highlighted the exchange rate risk. He reiterated that there was foreign exchange coverage behind a fraction of the loans, so there was no real exchange rate risk. He called the raising of interest rates a “staggering exploitation”, and he said the current proposal and the previous ones did not change the brutal rate hike.
His fellow member, Daniel Z. Carpathian, considered the “cover-up” of the Mansion’s decision astonishing. He called the bills a hybrid junk, stating that peace with banks is more important to the government than giving back money that people have taken away.

 “Crime” as banks shifted their burden

Kalou Mana (MSZP) said that, partly living in Belgium and Hungary, he had credit in both countries, with a Belgian parent bank and its domestic subsidiary. He stated that what the bank had been doing in Hungary after the crisis in shifting the burden was an outrageous crime.
He added, however, that the government, seeing how effectively the banks had plundered the Hungarian people and made them profitable during the crisis, did not oblige the financial institutions not to further the people, but said: “You can recover the money well, let’s do it together. ”
According to him, the banks’ accountability was not initiated by the government but by the people who sued the financial institutions. He stressed that the Fair Banking Act should have been tabled in 2010.

State Secretary at the Ministry of Justice (IM), said in his reply that the government first allowed a lump sum repayment, then introduced an exchange rate barrier and created an asset manager.
Future stricter rules also need to be decided, he said, emphasizing the obligation to provide information and minimizing the possibility of unilateral contract modification.
Together with the proposal on loan conversion, the burden on debtors will be significantly reduced and debts will become more predictable, he said, but he said after the settlement, the government would care for those for whom the changed terms do not work.

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Why is it worth taking internet payday loans?

Some people find that payday loans are not a good idea to solve financial problems. There is a perception that payday loans are a worse choice than classic loans. But is it really so? Let’s look at the reasons why you should take such loans.

Minimal formalities

payday loans

We wrote about this in the last article. Online payday loans really require a minimum of formalities from you. Very often you do not need a certificate of income, no one calls you, I do not ask you about your financial situation. You simply fill out the contact form, make a verification transfer and receive money. Often, within 24 hours the money borrowed is in your bank account! This is a much shorter waiting time than in the case of credit, where often online application verification can take much longer. You need to have many documents ready, know exactly where you work, how long. And then there is the long process of phone verification.

 

You can often hear stories about the refusal to try to get a bank loan over the internet, but when you went to the bank’s outlet, there was no problem getting the loan. Using internet payday loans, there is no such problem. The formalities are kept to a minimum, so almost everyone gets their money quickly.

Small loans

payday loans

Very often, banks are reluctant to grant very small loans, on the order of several hundred zlotys. The reason is simple – the larger the loan, the more money the bank will make. Therefore, it is sometimes easier to get a larger loan than a smaller one. However, using payday loans you set the amount of the loan yourself. You can borrow up to PLN 100. If you are in a situation where, e.g. at the end of the month, you ran out of money because you had unforeseen expenses such as illness, car breakdowns or other sudden purchases, then you can simply borrow several hundred zlotys. You don’t have to be associated with a bank to borrow a few thousand zlotys that you don’t really need. And you also benefit from one more important advantage.

Favorable offers

Very often, when using the company’s offer for the first time, you can give back exactly the same amount as you borrowed. So when you borrow PLN 100, you give back PLN 100. When you borrow PLN 500, you return PLN 500. Of course, this usually applies to smaller amounts. If you want to borrow PLN 4,000, additional interest will be charged.

Internet payday loans are very flexible

Internet payday loans are very flexible

Here you really set up yourself:

 

– Loan amount

 

– The period you’re taking her for

 

In many cases, you can take internet payday loans for 10 days, 30 days, or several months. When you take out a loan for a month, you simply pay back the loan amount once. However, if you want to take out a loan for several months, you pay it back in installments. However, here you also have very high flexibility, you are not limited to 12, 24, 36 installments. You can as well determine that there would be, for example, 7 installments.

Therefore, if you like to have control over the loan you take, then payday loans are the perfect choice for you.

You do not need certificates

Taking internet payday loans at some companies does not need proof that you have a job. Your creditworthiness is not checked here. It is a very convenient solution if, for example, banks refuse you loans. Online payday loans will help you get the resources you need to live or achieve your personal goals.

 

Summary

 

Online payday loans are really very convenient because all formalities related to taking a loan are kept to a minimum. In many cases, you will receive a loan within 15 minutes and no one will have to contact you. And you will receive money anyway and the next day you will have it in your account. In addition, here you have a very flexible credit offer. You can borrow a very small amount – several hundred zlotys. You don’t have to make big commitments if you don’t have such needs.

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What does the Credit Information Bureau know about you?

The Credit Information Bureau receives information about our loans , credits and credit cards. On the basis of this data, banks and other companies may decide to borrow money from us. What exactly does BIK know about us and entities using its database?

BIK, or Credit Information Bureau, was founded in 1997 on the initiative of the Polish Bank Association and private banks. The purpose of the new BIK database was to collect and share data on the credit history of Poles. Currently, the database is used not only by banks, but also credit unions and loan institutions operating non-banking, for example companies offering payday loans and installment loans.

How does BIK work?

How does BIK work?

Basically, BIK only deals with data storage and sharing – it does not enter anyone in the database on its own, because it can only do so on behalf of external entities, such as banks.

Based on data from BIK, these entities can make easier decisions on borrowing money. When we did not have any delays in paying loans or credits, our credit history at BIK will be positive and will work in our favor. Otherwise, we may have difficulty borrowing money again – even for 5 years, because that’s how long BIK will store information about us.

The BIK includes information such as:

credit score

• loans and borrowings with information about their liability amounts, amounts to be repaid and the number of installments

• attempts to borrow and borrow

• credit cards and their limits

• timely repayment of each installment of a loan or loan

Therefore, these are detailed information and entities that use them, are able to determine the financial situation of the client on their basis. That is why they are often used when we want to get a new loan or loan. They are very helpful especially with quick loans, for which we do not have to provide documents confirming our income.

Check what BIK knows about you

credit score

Access to information in BIK is available only to specific entities that were listed above – the data in the database are covered by banking secrecy and we can not simply check what was collected about another person. We can get a report about our credit activity for that.

Individual clients can download the BIK report completely free of charge – however, this is a non-scoring report, ie a point estimate, loan repayment history and printout options. If we want to get more detailed information, we will have to pay PLN 36 for a single report. We can also buy a package consisting of 12 full reports and additional services for PLN 79 a year.

Being in BIK is profitable!

credit score

Many borrowers associate BIK as an institution that must be avoided. However, we must remember that whenever we borrow money from a bank, a loan company or SKOK, we will be included in the BIK databases. When we pay off our liabilities on time, our positive creditworthiness will work in our favor and allow us to get new loans and loans more easily.

However, if we do not regulate our obligations on time, it may turn out that we will not borrow money so easily. It is worth paying the installments punctually – then we will not have any problems with borrowing money in the future when the need arises.

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Borrowing money as an independent entrepreneur

 

Do you want to borrow money as an independent entrepreneur? Then lending companies have the right options to mediate a loan for you. You can also come to us to start a new business. We are happy to explain what the conditions are to be able to apply and which documents you must submit so that we can assess your financing application.

Financing start-up capital company

Financing start-up capital company

 

When you want to start your own business, a lot comes at you. What kind of business will you start? Which products or services will you deliver? What are the possibilities of the company for the future? By writing a business plan you gain insight into the market, so that you can determine your business strategy. You provide insight into who your customers are and what they want.

The financial plan is part of the business plan. Do you have sufficient resources to get started or do you have to borrow money as an independent entrepreneur? Writing a good business plan is necessary to apply for financing. The bank will use the business plan to assess whether your company has a future.

What do we need as a minimum for assessing whether you can borrow money for starting a business?

  • A detailed business plan with the work you are going to do.
  • The financial forecast of the company.

What the conditions of the financing for starting capital look like depends on the business plan. This business plan will be assessed, after which a concrete financing proposal will be made to you. Do you have any questions or are you curious about the possibilities? Feel free to contact us or complete a non-binding loan request.

Financing company car

Financing company car

If you are an entrepreneur, it is often necessary that you have a company car. A good possibility to finance this company car is the conclusion of a financial lease agreement. Hereby the car will be directly from you, but without having to pay a large amount in one go.

You can determine the amount of the down payment yourself, the duration of the contract and the debit. It is also possible to add a final term to the contract. At the end of the term you pay an amount that is proportional to the value of the car. This way you can finance based on the actual depreciation costs.

A clear monthly period will then be agreed upon which you will pay for the entire duration. This way you spread the costs for your car. Another important advantage is that the interest and the repayment are tax deductible.

The benefits of a financial lease are:

  • Low monthly installments due to the residual value
  • Financing specially developed for cars, so that you borrow responsibly
  • Fixed duration and fixed interest, so you will not be confronted with surprises
  • Tax-deductible

We need the following documents to be able to make the assessment.

If your company has been in existence for more than 3 years:

  • The annual figures for 2018
  • The final annual figures for 2017
  • The final annual figures for 2016

If your company has been in existence for less than 3 years:

  • The annual figures for the years that are available.
  • A detailed business plan with the work you are going to do.
  • The financial forecast of the company.

Are you an existing entrepreneur?

Are you an existing entrepreneur?

 

If you are an existing entrepreneur, we have various options for you. What we need for the assessment of the financing depends on what you need the financing for. We list the options for you:

Use financing as an investment in your company.

Do you want to expand your business? For example, by purchasing a machine or inventory or even doing a renovation? Or does an existing financing expire and do you want to refinance it? We can view the options for you. We need the following documents to be able to make the assessment.

If your company is longer than 3:

  • The annual figures for 2018
  • The final annual figures for 2017
  • The final annual figures for 2016

If your company has been in existence for less than 3 years:

  • The annual figures for the years that are available.
  • A detailed business plan with the work you are going to do.
  • The financial forecast of the company.

A short-term stock financing

The products that you have in stock are often worth a lot of money. Your capital is ‘locked up’ in your inventory. Certainly when your company has a large stock, such as wholesalers and industrial companies, the costs for managing the stock can be high.

By taking out a stock financing you can use this capital to make new investments. It is usually possible to free up 50% to 70% of your inventory, depending on the type of inventory you manage.

The benefits of a stock financing:

  • Immediate availability of additional financial resources based on your inventory
  • Financing that moves with the size of your inventory
  • Extra option for ordering large quantities, which can save you costs.

We need the following documents to be able to make the assessment.

If your company is longer than 3:

  • The annual figures for 2018
  • The final annual figures for 2017
  • The final annual figures for 2016

If your company has been in existence for less than 3 years:

  • The annual figures for the years that are available.
  • A detailed business plan with the work you are going to do.
  • The financial forecast of the company.

Take out private financing for you as an entrepreneur

It is also possible to take out a loan for a purpose that you have privately. For example, the renovation of your home or the purchase of a caravan. This is also possible if you are an independent entrepreneur. Here it is necessary that you can prove the annual figures of three years. If you are a shorter entrepreneur, this is unfortunately not possible.

We need the following documents to make the assessment:

  • The annual figures for 2018
  • The final annual figures for 2017
  • The final annual figures for 2016

You can take out a loan in the form of a personal loan or revolving credit. With a personal loan you have the certainty of a fixed interest rate and a fixed term. This way you can be sure that you have repaid your loan after the term. With a revolving credit you have a variable interest, but also more flexibility. This is because you can also withdraw the amounts that have been repaid.

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Credit without payroll

As a rule, banks will reject an application for a loan without payroll. That’s because of the conditions that have to be met for a loan. These include a positive credit information, a regular income and a permanent employment.

Loan without payslip

Loan without payslip

If these conditions for a loan are not met, the risk for the banks is too high, that it can lead to arrears in the repayment of the loan or that the borrower is completely insolvent. In the case of a loan without payroll, the bank has no collateral in order to be able to seize any arrears if necessary. Obtaining a loan, even though there is no payroll, is only possible if the borrower can provide other collateral such as life insurance or guarantor.

Alternatives for a bank loan

Alternatives for a bank loan

If the banks refuse credit without payroll, a private loan from family, friends or acquaintances is an alternative. As a rule, these do not charge interest. For the private loan, a written agreement should be made. This includes the loan amount, the term of the private loan and the amount of the monthly repayments.

Both parties should then sign this written agreement. However, before contacting friends or acquaintances and asking them for a private loan, one should consider whether it will be possible to make the agreed repayments in the future. If there are delays in the eradication can quickly lead to a dispute. In addition, the aspect of the need for a loan should be taken into account. The focus is on questions of the size of the private loan and the need to purchase the loan.

In addition, an expenditure plan should be drawn up with the monthly commitments to see if the monthly repayments can be made for a private loan. Maybe the necessary acquisition can be postponed to a later date, if you have a regular income again.

Another alternative, if banks grant a loan without payroll and family, friends and acquaintances can not afford a private loan, is the pawnshop. There, valuables such as jewelry, hi-fi, TV, computer or cell phones can be handed out for money. These items can be redeemed within a fixed period with the pawnshop against payment of this money. As a rule, this period is three months. If you do not cancel the items within this period by a payment, they will be sold at auction to third parties.

Loans from dealers and department stores

Loans from dealers and department stores

If you need a non-payroll loan for earmarked purchases, such as furniture, computers, televisions, washing machines, or refrigerators, some retailers and department stores will fund these products.

The product prices are usually not more than 1,000 USD and in addition to the presentation of a valid identity card usually no further documents such as salary or the like are required. In addition, you should pay attention here to current offers for zero-percent financing. So you pay only the product price and there are no further costs for interest. The repayment of the product purchase takes place like a conventional loan through the payment of monthly installments. The amount of the loan, the duration and the amount of the monthly installments, as with any other loan, are recorded in a written contract that the buyer enters into with the department store.

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Why don’t you save money?

When talking to people about why they fail to save money, it is possible to find different answers that are either too low on money, too much money or at all, and there is no point in charging money. Then here I will try to look at the reasons people usually give to such a question and why are they all wrong?

 

I have too big credits

I have too big credits

One of the biggest problems is that a lot of people have big credit commitments and of course, if you already have big loans, then it would be wise to try to get money back to the credit institution sooner rather than accumulate the money because in the long run you will lose money in the long run and not get extra money. If your credit interest is low enough, you can buy at least a little money so that you can continue to pay the loan in the event of an emergency, but on the other hand, you will pay less interest and pay monthly or monthly payments. Those who want to justify the fact that they have large loans should not say that it is impossible to save, but that all the money they spend is put to use when paying off their loans faster!

 

I have too little income

I have too little income

The next reservation is that your income is too small and so you can’t save anything, but this statement is basically absurd, because anyone can save money no matter how small his income is. If you are able to survive every month without debt, so you have enough money to cover your primary needs, and therefore a little bit of money can be saved by cutting down on your spending, but the key is to start and don’t say it can’t be done.

 

I have too much expense

I have too much expense

Another option is that people say that their spending is too large and that it is impossible to save money, but this is exactly the same as too low income, because it is always possible reduce your spending by buying cheaper products, giving up spending or simply choosing a more profitable provider. Anyone who wants to save money just needs to work actively and stop justifying it.

 

No money is needed

No money is needed

Another thing people say is that saving money is no longer necessary nowadays because credit offers are so profitable that no money makes sense any more. This is one of the worst arguments I have heard because credit itself is unprofitable and in the long run you will overpay for any product you buy on credit, so say that you do not waste because it is not necessary!

 

I just can’t save money

I just can

The reason that you just can’t keep the money is worse than everyone else, because here’s not even what he thinks is the reason why he can’t save money, but it’s just that he justifies it it is and everything. It’s just like believing in God because someone else sees it!

 

I started, but I spent the money afterwards

I started, but I spent the money afterwards

This reason is much more realistic, and basically a person has already started to save money, but he faced some difficulties and all this money had to be spent. Here you have to understand that if this money were not, then you would probably have had to take credit, so you should not regret it and just resume the process of collapsing again by forcing yourself a bit!

 

Nobody is spending money

Nobody is spending money

This is another excuse where people look around and see that their surrounding people are not spending money and living with credits, so he shouldn’t. But if you think logically, if the people around you start stealing and murdering, will you do it, or do you have a head on your shoulders and would you do it better?

 

There is no point in collecting a pair of dollar

There is no point in collecting a pair of dollar

And the last reservation I’ve heard is that it doesn’t make sense to save only a few dollars in a month. Of course some dollar is not much, but it is also the beginning and you will be accustomed to living under your income and in this way you will be able to continue to save money by increasing your loading amounts.

As you can see, the human reservations are many and varied and they are one of the crazy ones. So if you are still bothering yourself and trying to talk about not getting money, think again and start to live under your income and put money in the stock!

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Credit through SMS with bad credit history

Credit with bad credit history is a service where lenders offer borrowers to borrow money even if they have bad or damaged credit history.

Credit despite negative history

Credit despite negative history

Credit history can be damaged if a person does not pay their debts in a timely manner and then their details are recorded in the debtors’ register. This register records information about what credit was received, how much the debtor remained, and various other data. This register usually keeps the information for at least 10 years and is essentially a database maintained by major banks as well as the state, and its information is shared so that it is accessible to all lenders. That is why non-bank creditors who want to check their customers’ solvency can apply for this data from this database. That is why it is not possible to escape from this database, but non-bank lenders themselves voluntarily set up such a service, where they offer to borrow for people who are entered in the register. Of course, if this history is damaged in the last year or two, then non-bank creditors will not provide you with this service, but if you can prove that you have corrected, there is always a chance that you will be given this service.

The SMS credit is the type of loan that can be received via SMS by sending a message to the phone number indicated by the creditor.

The SMS credit is the type of loan that can be received via SMS by sending a message to the phone number indicated by the creditor.

This service was designed to allow customers to borrow even when they are not on their computer and it is very useful in a variety of situations when they break their car or when an emergency occurs.

There is usually no extra charge for this service and it is basically just a way of applying for a loan.

By putting together SMS credit and bad credit history we get a service where a person with a damaged credit history can apply for a quick credit via SMS. Such a service is available to customers who have borrowed once with a negative credit history, otherwise the lender will refuse this application when you credit your creditworthiness, but if you have already received money from this creditor once, there is a great chance to get it again .

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Loan with a bailiff – what does it mean, what to do?

 

Thoughts about a loan with a bailiff are not always optimistic, but this has happened to many a person nowadays. As a rule, the location of the client who took care of the bailiff is not comfortable in the eyes of the lender, but there are several ways and institutions that can help.

Who is a bailiff?

Who is a bailiff?

At the beginning it is necessary to introduce the figure of a public official who is undoubtedly a court bailiff. To put the matter in one sentence, it can be said that these are people who deal with forced debt collection. The law gives bailiffs many privileges, including the use of force or means. Unfortunately, they are not liked because of that, but that’s not the point. The legal basis for exercising the profession of bailiff is the Act on Court Bailiffs, which entered into force on March 22, 2018, Journal of Laws 2018, item 771.

So when does the bailiff appear?

Before the enforcer proceeds with the matter of our debt deal with the debt collection departments of the bank, loan company or specialized debt collection companies, whose task is to take such actions that lead to the recovery of money. Therefore, as soon as there are difficulties with the implementation of current installments, you should turn to a certified agent for help, because if the delay in payment of the installment exceeds 90 days, the bank will terminate the contract. In cases of payday loans it can take place after 30 days of being in arrears. When debt collection is not effective, the next step is to take the case to court and then the bailiff begins his activity and then we can start saying that we have a loan with the bailiff. Bailiffs usually, after a few days of the sentence, start their activities, e.g. by blocking the debtor’s bank account, and may also take remuneration or annuity. It is worth mentioning that even when the loan is issued to us and the “sad man” proceeded to bailiff enforcement, in some cases it is possible to restructure and suspend the enforcement of debt by the bailiff.

It is not worth running away from the bank. The institution wants to get along with the client in difficult moments. The best thing we can do as a customer with a problem with paying off their liabilities is to go to the bank, present your situation and talk about possible solutions

Who can help if the bailiff is executing?

Who can help if the bailiff is executing?

One of the ways and tools is because among the institutions to which he is directed are companies that do not check the BIG, BIK or KRD database or if they check, they do not always take into account the existing entry. A very important element in the whole process of obtaining credit with a bailiff is a certified agent who, like a doctor, will examine our situation and precisely prepare a plan for obtaining financing. The certified agent will also ensure that the newly acquired funds are safe from bailiff attachment because they will direct the payment of the loan to a place other than the account taken by the bailiff. One of these methods is paying out the loan using a credit check or to the account of a trusted person indicated by the client.

The guarantor can also help

Undoubtedly, help can come from people who agree to vouch for their assets and guarantee repayment of the loan. Statistical data show that there are more women than men among the guarantors, but the difference is really small (53% to 47%). The average age of a giraffe varies between 55-64 years and the desire to guarantee increases with age. The analysis of the Credit Information Bureau shows that Poles most often guarantee one loan and only every 10 person decides to guarantee more than one loan. It should also be added that guarantors often have their own credit obligation.

Loan with a bailiff in the background and costs

Loan with a bailiff in the background and costs

The cost of such a loan can be offset by establishing a mortgage or entering into a guarantor loan. The commission that occurs in this type of loans is not the lowest and in some institutions may be accompanied by additional fees depending on the sales process and the lender himself. The cost of the loan intended to pay the bailiff also depends on the amount of capital granted and the loan period.

Is a bank loan possible with a bailiff?

Is a bank loan possible with a bailiff?

In their activities, banks are guided by numerous guidelines of their regulators and their own risk policy. Compliance with banking law is supervised, among others, by the Polish Financial Supervision Authority, whose main task is to protect the interests of customers and compliance by banks with the aim of ensuring the security of deposits accumulated therein.
Currently, banks are less likely to use safeguards in the form of a girrant, i.e. a civil guarantee, giving the place the opportunity to submit an application by any two people. This co-borrower can help us if he has a positive history in BIK and has creditworthiness.

What is creditworthiness and how does it affect the amount awarded?

Unfortunately, this does not change the fact that banks are not in favor of granting a loan when we have a bailiff. Private companies and non-bank institutions have different and above all less stringent requirements than banks, which allows them to borrow cash with increased risk. Such loan companies are subject to cyclical inspections and the payment is always carried out in accordance with the provisions of the contract.

A loan with a bailiff is a very uncomfortable situation. With such a commitment, it’s worth talking to your credit counselor. He knows how to act so that the client’s situation improves.

Conclusion.

Even if bailiffs are being carried out, you can get a loan of tens of thousands of zlotys that can fully satisfy the bailiff’s enforcement title and lead you out of the embarrassment of debt, as debt must always be repaid. Therefore, there is no reason for the creditor to waive recovery of his debts. It is very important that the money borrowed goes to its intended purpose, i.e. to pay off the commitment, because wasting this chance will further deepen the financial crisis. So once the guarantor has agreed to guarantee a new loan, let’s make sure that he does not have to repay the installments himself, because the second such chance may not happen and the guarantor, if he was a friend, will definitely cease to be.

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Credit without proof of income

 

If you want to get a loan without proof of income, you can not get it within the business model of a direct bank, but must look for and find other types of credit. Basically, the desire to get a loan and repay it punctually contradicts the fact that you can not provide proof of income. but since there are different types of proof of income, you can get a loan without pay slips. Read more about the different types of proof of income:

Replacement of the salary slip with a tax assessment

Replacement of the salary slip with a tax assessment

Especially for self-employed and for freelancers, there is no classic proof of income in the form of a wage or salary slip. In this case, the creditor of the bank or the creditor can prove the revenue in another form. For example, by a tax assessment of the previous year, which indeed contains the necessary information on the taxable net income. From this, the bank adviser can also see whether, for example, interest or dividends are income components.

In addition, in times of economic crisis, the wage and salary statements in a non-independent activity are also not as secure as in the days of dismissal protection and the boom. Therefore, the emotional gap between fixed income from permanent employment and interest income or commercial income also decreases. Without proof of income, however, it is unlikely that the bank will have to pay and repay the money it has bought against the investor. Therefore, when looking for a loan without proof of income, one should focus more on the variant that includes income proofs other than a pay slip.

Proof of assets is also considered as indirect proof of income

Proof of assets is also considered as indirect proof of income

Many people in early retirement have a life insurance policy that is only available at the age of 60. Here, a loan without proof of income can be granted in such a way that the corresponding life insurance is given or assigned as collateral. The same applies, for example, to early-stage employees who, in particular, have received a large number of shares as an executive. Since these employee shares are blocked for a certain period of time, they can not be sold for several years. However, these types of special loans or

Do not get bridging lines of credit in a credit factory or a direct bank. This requires a long-standing business relationship with a local bank, whose staff are familiar with all aspects of the financial business and who do not offer only standardized products. However, if you take this into account, you have a good chance of getting a loan without proof of income or being able to replace these direct proofs of income.

As with all lending or investment, direct communication and honest discussion is the best way to lend. Because only by unusual financial solutions the credit without income proofs can be made possible.

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Cash loan or mortgage? Discover the differences!

Many people use the terms credit and loan interchangeably. This is a mistake! A loan is not a loan and vice versa – it is determined by the law and the rules on which and by whom it is granted. and throughout Poland can only be granted by banks and cooperative savings banks. This is specified in the Consumer Credit Act. The contract must be made in writing. In addition, the purpose for which the money will be spent is also important – a distinction is made between mortgage, car and cash loans. It should be noted that at the time of signing the contract the borrower undertakes to repay the amount together with interest on a specified date. They are informed about these and other costs at the branch – the amount of some costs is not regulated by law, but depends on the individual policy of the bank.

Loans – who will grant them?

Loans - who will grant them?

Loans, unlike loans, are granted not only by institutions but also by individuals. It is worth emphasizing that the purpose for which the money will be spent and the date of its return do not have to be specified. Interestingly, in the case of a liability of up to PLN 500, there is also no need to draw up a written contract, which is necessary when taking a loan. The loan can also be free. In most cases, however, interest and commission are generally added. Such situations are regulated by the provisions of the Civil Code. 

The loan has many names – learn about its types

The loan has many names - learn about its types

Financial institutions, including our company, have in their offers many products with the term in the name. What is the difference?

In what situations do they work? Here are the most popular loans on the market!

In what situations do they work? Here are the most popular loans on the market!

First of all – cash loan. It is granted for current needs – dream vacation, studies, purchases of home appliances. It is up to you, the borrower, for what purpose you spend the money. Its amount and repayment terms are determined based on the consumer’s creditworthiness. Our waiting time for a decision is … sometimes even only 10 minutes! We guarantee a minimum of formalities – all we need is a statement.

Secondly – mortgage. For many, it is a chance to make their dreams about their own four accounts come true. This loan is connected with the purchase of real estate or the implementation of a construction investment. Usually a long-term commitment. The repayment period for the amount, interest and other costs can be up to several dozen years. The basic, but not the only, guarantee for the bank is a mortgage established on its behalf. 

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