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THINKING BEFORE YOU LOAN MONEY

Do you see a lot of online advertising on loans? You might come here to compare or borrow money from us as well. Quick loans, private loans, car loans or home loans.

No matter what, there are different types of loans everywhere. They should also be utilized in some form by most governmental and creditworthy individuals with that opportunity. The first tip was not to borrow money before you know what to actually use the money for. That and more tips for it follow below.

This year’s tips for consumer loans

This year

Do you have a specific need or just want to have fun?

Fast money is common and popular. Most people who take such a loan may lend because they are behind on any bill, or need to buy something that is really important. Then it is important to calculate the total cost including the interest, so that you can repay the loan. Otherwise, you could end up in an even more difficult seat in the future, if not the Chronicle.

Never borrow more than you can afford!

It was the second basic tip and you’ve probably heard it before. It may be an old and well-used argument that one might teach their children, but many adults should take it too. It is at least far from as watered down and cliché as it may sound.

Another tip is to borrow money here and now.

It is quite advantageous to take a bank loan today. There are savings economists who claim that interest rates will rise. Stefan Ingves, who is head of the Swedish Loan and Credit , has also for a loan period predicted that the repo rate is on the rise. We already see that the interest rate has been applied, which will certainly affect the cost of bank loans in the future.

Get a good home economics

bank

Do you lack the tools, or the ability to make money? Then financial advice is something that is really recommended. You can meet one at your major bank. Schedule a meeting, and get help with applying for a loan, investing your money or budgeting. A lot can be done on the internet bank or on the phone.

If you have debts with Kronofogden, you turn to a budget and debt adviser at the municipality, but for anyone who wants to arrange their existing finances and use their existing savings capital, the big bank has a large and flexible range of banking services.

Quick and easy payday loans for bad credit -Get cheap payday loans for bad credit

You can get cheap payday loans for bad credit up to $1000 Today

Payday loans for bad credit on our site https://www.paydaynow.net/ are more attractive and cheaper than ever. In recent years, the development of lending rates has a clear trend: down! The key interest rate is now at a record low, which is particularly beneficial for borrowers. It has never been so easy to get a cheap loan. In order to be sure that you have opted for a credit that is favorable in every situation, looking at the total package of a loan offer is important.

That’s an amount debtors should know these days. The reason for this is the current interest rate that banks have for borrowing through central banks within the EU. Loans are cheaper than ever. But the question “are loans cheap now” does not lead the debtors of tomorrow successfully to their destination. Third

In principle, it is questionable for which purposes loans are required and under which conditions the application is addressed to the bank. Because not every borrower has reasonable hope for an immediate loan amount at the minimum rate. With these credit models, consumers come up against other conditions, for example. Above all, the catchword overdrafts show impressively why consumers always pay attention to a credit comparison.

This makes it clear that credit institutions do not pass on their own benefits to customers in all areas of the credit market. Is the loan cheap now? If you ask the bank yourself, then, of course, the answer is yes. All in all, interest rates on interest rates in the segment are not exactly cheap.

Now to take out loans at a low price with interest rate guarantee?

With other overnight funds that have essentially the same functionality as the overdraft facility, interest rates are significantly cheaper. Bank customers and other lending financial service providers receive multiple guarantees. On the one hand, the interest and tranches (of any higher initial or final rate, as with many car loans) are usually fixed for the entire duration.

As a result, borrowers do not have to be prepared for changes during the repayment phase. Otherwise, banks will advertise with a special form of seizure. Is lending cheap now? If you believe the banks, in principle every single loan is cheap. But not every loan advertised as a price hit is cheap at a second glance.

Some banks offer their customers a special service. In some cases, the reason for this is that the customer can benefit from a right of withdrawal even after the end of the legal withdrawal period of 14 days if he receives elsewhere a cheaper offer on otherwise identical terms. Which concept best fits which the client depends on the circumstances.

In such cases, the consumer only needs to reuse the loan calculator to calculate whether corrections or returns are a more reasonable way. Rather, it is important to look for the best offer right from the start, because that saves the consumer from later contact with the financing banks. If the loan is cheap now, that is not the only key criterion for the consumer.

Depending on the end of the financing process, further burdens may be placed on the borrower. This can be reminder fees, for example, if payments are made too late or if there are chargebacks due to insufficient funds on the current account specified for the loan repayment. The amount of the fees is taken from this as far as possible in advance from the general credit conditions so that no unpleasant surprises arise.

There are a few other factors that can affect the final cost of the loan.

The following scenarios should always be kept in mind: Are fees to be expected for postponing or correcting monthly payments? Is an early redemption fee payable? Is the interest rate dependent on credit?

What effects do maturities and loan amounts have on interest rates? When comparing the terms offered on the one hand by the lenders and, on the other hand, on average for loans without own financing, consumers are confronted with significant differences in interest rates. credit-free financing almost always costs significantly more from the perspective of banks and service providers due to the increased risk of default.

Therefore, charges may be imposed that credit institutions in the EU may not be billed to consumers because of the current legislation – for example, processing fees. In the latter case, it is further necessary to differentiate between loans where only the eligibility for the grant is decisive and those where the creditworthiness as such is also a decisive criterion for interest calculation.

5 tips to save on monthly services

Although many do not believe it, one of the main sources of savings is in our home. A high water, electricity and telephone bill is something that we have to pay if we want to continue counting on the service, so getting the receipt to come for a few soles less is something that our pocket will appreciate.

Take these tips into account to save on the services you pay month by month and start healing your finances little by little:

Check your phone, cable and internet plan

money cash

If you have the most expensive trio of all, think about it: are you really using everything you’ve requested? Do you really need all those channels? If you already have internet, there are many free or less expensive options that you could choose to watch movies or shows. If you do not want to remove it, you can choose to reduce the cable to the basic plan and you will see the savings.

Do not stop charging the cell phone all night: The smartphone takes only a couple of hours to charge, but when left overnight, it is wasting energy in vain. Charge it during the day and then disconnect the charger.

Look for LED spotlights: It is true that at first it will seem an expense, because these types of accessories are more expensive, but as soon as you start using them, you will see the difference. The savings presented are between 50% and 80% less than the other sources.

Do not wash the dishes with running water. Put the detergent with the spout closed and once everyone is ready, rinse them together.

Use water that is not yet “hot”

water with money cash

When bathing or opening any pipe, while waiting for the water to reach the temperature you want, put it in a container and you can use it later, instead of letting it run.

All these recommendations or small “hacks” will help us save some soles on the monthly bill. But the really important thing is that you organize your budget and separate a percentage for savings. Compare the different account options and see where it is most convenient for you to save.

8 Simple Reasons Not to Have Approved Online Payday Loan

Signing up on a website or application to make payday loan online and having it approved is as difficult as riding a bicycle with the bent or kneaded wheel. Particularly if the person had a slip in the past. It may be that in the application process you run the risk of being rejected – but that depends on the mode of the loan.

How to not have your online payday loan approved

How to not have your online loan approved

So if you have the pretense of starting a new process of applying for personal payday loan online, having little chance in your favor, then the four one: 1 – or you give up hiring; 2 – take loan with moneylender; 3 – accept to loan to negative with interest of up to 25%; 4 – or search for a type that fits your current profile.

If you determine that an online personal loan is the best solution to adjust your finances, it is important to borrow responsibly. This will help prevent you from falling into a debt cycle. However, before you start the process, make sure you take care to eliminate anything that might disrupt approval. In the list below you have some probable reasons that a loan can be rejected:

Divergence with your address

 Divergence with your address

Banks and financial institutions get lots of information related to your name and CPF, one of them is the updated address. If you are one of those people who do not stop in any neighborhood, and your address is not up to date with the credit bureaus, it is very likely that your request will not be approved. In this case, all you can do is bring a voucher in your name.

You are not available for additional verification

 

money

When you apply for a personal loan, be sure to provide the lender with a contact number where you are available most of the time. If you are not located in the verification calls a few times or the phone does not hit the databases, your chances for approval may go down the drain.

 

You just changed jobs.

 You just changed jobs.

One of the most important factors for fast approval of an online personal loan is stability at work. A lender has more confidence to free up resources for anyone who is at least a year into your current job. Sometimes the minimum requirement is two or three years in the current employer.

As mentioned in the paragraph above, your financial stability is very important to lenders; if they find that you are working in a company that is not even a year old, they are also likely to reject your proposal.

You do not pay your bills at maturity

You do not pay your bills

Remember that even a simple bill or invoice due and not paid that generated an annotation in Serasa or SPC may mean not approving your loan request. So before signing up and signing up for a personal loan, make sure there is nothing in your name or CPF that leaves you in the negative situation.

 

Your signature does not match

If you use more than one signature, be sure to use the most common form of signature on all pages of the physical contract or by the loan application. If you need to send physicals later, attach only the documents that have the same signature that you used in the online application.

You were guarantor or guarantor of a defaulter

 

 You were guarantor or guarantor of a defaulter

Be cautious when you become a guarantor, guarantor or loaned the name to a friend or family member to make a purchase in the carnet, credit or financing, and if they did not pay, this will hurt your chances of getting a personal loan from most lenders online.

  1. If you are applying for a personal loan and have a dirty name, with a restriction on the CPF, look for creditors or modalities that provide credit for that profile.
  2. If you have a clean name and wish to take out a personal payday loan online, be aware of all the above tips so as not to be harmed and not have your application approved.

And, if it really is not possible to get your loan approved online, do not forget that you have other alternative ways to get a personal loan more easily and that do not involve banks, financial and bureaucratic means, consider borrowing from family or friends, with private lender, Peer-to-Peer Lending or even Crowdfunding (the famous kitty) depending on your situation.

Foreign Currency Loans – Expert: Unsurprisingly Advocate General of Luxembourg on Exchange Rate Margin

Not surprisingly, the Advocate General of the European Court of Justice said that consumer protection considerations could be taken into account in the exchange rate gap, said international lawyer Tamás Lattmann to MTI on Wednesday.

Foreign currency denominated mortgage contract 

bank

The Kásler couple entered into a foreign currency denominated mortgage contract with a Hungarian bank in 2008 and, under the contract, acknowledged that in addition to the loan, its transaction and management costs, as well as default interest and other costs, will be determined in Swiss francs.

The couple later challenged before the Hungarian courts the condition that entitles the bank to calculate the installments due at the Swiss franc exchange rate.

The court hearing the dispute has asked the European Court of Justice

bank

Based in Luxembourg, that the condition governing the exchange rate applicable to foreign currency loans is to be regarded as the principal object of the contract and whether it is subject to a price / quality ratio- e. If so, the issue of unfairness cannot be investigated if the conditions are clear and understandable. In the specific case, the Mansion essentially asked when such a condition could be considered so clear and understandable that unfairness could not be examined under an EU directive.
The Hungarian court’s additional question was whether, if the contract could not be performed if the unfair term was abandoned, the national court would be entitled to amend or supplement it.
Tamás Lattmann said: The Advocate General’s suggestions have been developed in the case law of the European Court of Justice to obtain before the Court an expert opinion given by a lawyer who is clearly considered an expert, but such an opinion is not binding on the court. However, based on the experience of recent years, subsequent judgments are largely in line with the Advocate General’s opinion, he recalled.

The expert noted that the present Advocate General’s Opinion

bank

Was the result of a preliminary ruling procedure initiated by a Hungarian court in the Kásler case before the European Court of Justice. The Hungarian court referred the matter to the European Court of Justice because it considered that it had to apply EU law in order to decide the case. In such a case, it is possible for the court seised to question the Luxembourg organization because of the alleged uncertainties regarding the applicable EU law, he explained.
He stated that the Kásler case also has a consumer protection aspect and that consumer protection is an EU competence, so the Hungarian court was curious about the requirements of European Union law governing such legal relationships and contracts. If the court was uncertain, he “did very well” to turn to the European Court of Justice, which is an important issue and very urgent to avoid any subsequent EU law concerns.
Tamás Lattmann also pointed out that when he was thinking about the unity decision of the Mansion, he decided to wait for a preliminary ruling in the Kásler case because he did not want such an unpleasant situation to take a stand, and EU relevance, ‘while the Luxembourg court says otherwise. A few months ago, the Mansion decided to wait for this preliminary ruling because it “noticed correctly that the cases had some connection with each other,” he pointed out.
The international lawyer stressed that the Advocate General’s opinion was not surprising because “there is no question that consumer protection considerations can be weighed against such a contractual provision”. EU law allows this, he added, which is why the Hungarian court could be uncertain (MTI).

You asked, that is, the most important credit questions

Although our regular readers could slowly join us and write expert articles, there are still many who are unclear about a loan. Of course, there is no problem with that, because we are there to help and we do this in our personal communications. However, we thought that the most frequently asked questions and problems would be discussed here in the form of an article.

 

The “BAR list”

credit

When they contact us, we are regularly asked if we can arrange a loan for the “BAR listers”. Well, this issue is now being clarified. It’s such that the BAR list no longer exists. It is currently called the KHR list, but it has roughly the same essence, that is, being on this negative debt rating list is not creditworthy at the moment. And we answered no. Those on this list cannot get credit from the banks.

 

I’ve been working recently

credit loan

We are also often asked in messages about how long they need to be in a declared employment relationship in order to be creditworthy. This is a very good question, because before that it really should have been at least 1 year. In fact, there were some banks that gave me a discount if we had a continuous job for an older hour. At present, however, the minimum condition is that we have 3 months’ employment and an indefinite contract.

 

What’s the best credit?

What

Well, this is the classic question we can’t answer. Maximum to ask: Which is the best car? Everyone is different. Because of its many components, credit is almost impossible to answer in advance. It depends on the different details of the property, our earnings, the maturity we choose and the interest period. This also shows that it is quite complex. However, what can help us get closer to the solution is the help of a professional and the calculator of the loan. That is why we strongly recommend both.

By and large, these are the questions that we see most often, which is what concerns us the most. We are still waiting for you to contact us! We strive to meet the highest standards and find the perfect solution for you.

How do corporate and retail lending stand in Hungary?

According to a recent survey of the MNB, 17% of Hungarian households plan to receive CSOK support, which could mean 272,000 transactions, taking into account all eligible persons, ie 1.6 million families. The awareness of CSOK is well over 90% of the population.

In addition, the Marble Bank’s publication, Lending Processes, shows that more and more SMEs in the SME sector are borrowing, which can be helped by loosening credit conditions.

 

What is Corporate Lending?

What is Corporate Lending?

According to the study, the SME loan portfolio increased by 3.4% between March 2015 and March 2016, while the decline in total corporate lending fell to 2.4%, which would be + 1% without MKB Bank’s portfolio cleaning.

In the first three months of the year, the dynamics of SME lending declined, reflecting, on the one hand, the amortization of former NHP loans and, on the other hand, changes in the terms of NHP lending.
Demand for short-term loans has picked up due to easing lending conditions in corporate lending, which is expected to pick up in investment loans in the next six months, particularly among smaller companies, due to plans to loosen credit institutions.

 

What’s New on the Retail Lending Front?

Retail Lending Front

Under conditions of unchanged credit supply and growing demand, the volume of new household loan agreements increased by 23% year-on-year, within which the volume of home loan loans increased by 36%. The majority of banks expect further growth in demand for household loans, which they believe is supported by the CSOK.
This year, the mortgage loan market will be worth 500 billion forints, which is far from the bubble situation and reflects realistic bank expectations, according to Marble Bank experts. According to the same study, 30% of those eligible for CSOK would buy used homes in the next year and a half, while 9% plan to buy new ones.

If you are looking for a loan to buy a home and would like to negotiate with the banks as an equal partner and do not want to fail with the repayment agent, consult with Pinocchio’s credit broker! We’re on your side!
Our staff will find the construction that best fits your purpose, be it CSOK 10 + 10, supported home loan, LTP or even NOK.

Credit Trap – No Way Out

Inadequate borrowing and unexpected exchange rate fluctuations have driven many people into the trap of the debt trap, which does not seem to lead the way.

Hungarian law is painfully lacking in the institution of private bankruptcy similar to that of corporate bankruptcy.

If a company is in financial difficulty, you can apply for bankruptcy protection. During bankruptcy protection, creditors must agree with the bankruptcy petitioner who, during this time, attempts to straighten out a redundant supervisor by getting rid of unnecessary things. Streamline your costs, expenses, and revenue.

If this fails, the company will be wound up after the stipulated time, and creditors will only be compensated for the remaining assets.

 

The business owner is not liable for any further repayment of the loans

The business owner is not liable for any further repayment of the loans

The institution of private bankruptcy, which has been available in many parts of the world for decades, works like this to relieve trapped debtors of the pressure of executives for a temporary period, bringing their finances under the supervision of a seconded caretaker. The caretaker monitors that the debtor does not borrow, rationalizes his expenses, sells his assets for sale and clears his creditors.

If the creditors are not satisfied during the transitional period, enforcement may come. (This is the same as winding up in the life of a company.) The money they make goes to the creditors and the debtor can start a new life. Your liability for this current situation would be limited in time.

Private bankruptcy is a lengthy and often expensive process, but in the end, the person concerned, like companies, can be relieved of their credit in a few years.

What is important to emphasize is that private bankruptcy is not a credit waiver, but an agreement between the lender and the lender, which presupposes full cooperation between the debtor.

 

“free pass” right for secured loans

"free pass" right for secured loans

This means that the borrowers of covered loans (typically real estate mortgages) will be free of any further charges after the foreclosure. The rationale for this provision is that the bank must be satisfied with the ownership of the collateral it has requested. Nothing prevented him from seeking additional collateral before disbursing the loan, he stated that the value of the collateral was sufficient.

In contrast to these practices, today, in Hungary, a borrower with a mortgage can find himself in a credit trap for the rest of his life. The loan does not expire, and they can take most of their salary or pension for the life of the debtor. In most cases, the amount deducted from your salary is enough for the executive fee and interest, often not even that. So you have no prospect of getting rid of the consequences of a bad decision once, except for emigration from the country.

Unfortunately, more and more people are moving and moving further afield to start their lives again. Therefore, it would be important for debtors to have some hope and prospects of getting out of credit. Even if the murder is time-barred, the debt would have to be put on a maximum term.

Therefore, in the long run, banks would also be interested in the introduction of private bankruptcy, as at present debtors are merely hiding from enforcement and often do not cooperate with the banks in any way because they are not gaining any money.

Of course, in the case of a private bankruptcy, often only 20-30% of the loan is repaid, but this is still more than what banks sell to debt collection companies.

 

Banks are protesting against private bankruptcy

Banks are protesting against private bankruptcy

Arguing that this would trigger a further wave of insolvency among debtors who would perceive the private bankruptcy as another bailout and reduce their willingness to pay.

There is truth in this reasoning, as it would be important to determine how long the debtor has to stand up for the loan and work with the chartered supervisor. In most countries, this stage is between 3 and 12 years, typically 3-5 years.

Despite the problems surrounding the introduction, it is important to find a solution that is reassuring to everyone as soon as possible, given the large number of stakeholders and the total disarray.

Do you need real financial advice, are you tired of agents? Click the link for more information.

Security in Focus on Home Loans

More recent data have come to us regarding home loans. In fact, we are not surprised that the credit market continues to grow, and we continue to surpass previous numbers. Truth be told, we can’t imagine the growth right now when the Family Protection Action Plan comes into effect. But let’s not run this far, let’s see what happened in the first quarter!

 

Very large numbers follow

home loan

We found some interesting data on the MNB’s website. ? In the first quarter of 2009, the Hungarian population borrowed more than HUF 200 billion. In just 3 months. Otherwise, this is about 18 percent higher than in the same period of 2018.

As of March, new home loans exceeded HUF 76 billion . This also pushes up the quarterly figures, as in March 2018 there was about 26 percent less new loan outsourced.

Within mortgages, fixed loans are the ones that the Hungarian population prefers. Of these loans, approximately 118 billion were selected, representing an increase of more than 194 percent over 2018. This is understandable, as in the second half of last year the MNB started to direct the population towards these loans. But why is this good?

 

About fixed loans

About fixed loans

The distinct advantage of choosing a long period of interest is that despite the fact that different interest rates rise (such as the central bank base rate), the repayment of our loan does not change . For a floating rate (3 month interest rate) loan (HUF 10 million for 20 years) it costs HUF 51,828 per month at LifeKorp Bank, and HUF 58,459 for a 5 year interest period.

As interest rates on loans have been low for quite some time, it is almost certain that interest rates will rise in the next 5 years. But not for those who are now taking the extra $ 7,500 for security.

Do you want to do well not only in the short run but also in the long run? Then contact us! We will help you find the optimal solution.