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How To Pay Off A Debt of 200.000 Rubles?

by admin

When you have a family, for example, three children, your expenses can be hard to control. All you want is to give your children a little more than you yourself as a child. Thus, even receiving a steady income, along with government support, you may find that you live beyond your means, month after month. And in the end get six numbers in debt. In such a situation, you need to gain a huge amount of determination and for several years to firmly tighten the belts, and then you can answer the question how to pay off the debt, with a sum of more than 100 thousand rubles.

 

How does a person get into this situation?

As a rule, he tries to live, as they say, “in step with the times”, to live, like all those around him. The usual additional expenses for the New Year and birthdays. In addition, you always want the house to have new clothes and shoes at the beginning of each school year. To this is not rarely added unexpected spending on car repair or treatment.

The first loan may seem insignificant. For example, at the birth of a new child, you needed furniture, a check for which you cannot pay here and now. And now, after five years, you have several loans totaling more than 100 thousand. Then personal loans are added, it is necessary to take a loan to close other loans, and as a result, the debt grows to 200,000 rubles or even more.

 

When the question arises, how to pay off the debt?

When the question arises, how to pay off the debt?

Many people do not even know how much they owe money to banks and / or the state. They know the approximate monthly payment and live from paycheck to paycheck. In this situation, you need a push from the outside, a positive example that will make you think about your financial situation. Most often, middle-aged people have to pay for their mistakes in their youth. For example, a few years ago you took advantage of the “profitable” offer and bought a good, big car, which costs more by itself and gets “a lot of money” in service. With age, as a rule, expenses only increase and, at the same time, nobody canceled old payments on car loans, overdue payments appear and the amount of debt does not decrease, if it does not increase.

It's time to think carefully about your financial situation. On the example of a big car, think about whether you really need a huge car. If you do not cope with its service, it's time to change it to less expensive, both in cost and maintenance. This will be your first step forward, further healthy financial habits will begin to appear, and the question of how to pay off the debt will disappear.

 

How to get out of a difficult situation?

How to get out of a difficult situation?

In our blog, in the “Personal Budget” section there are many articles on how to properly control your household money. In this article we want to write in numbers a method with envelopes. So, take the average income per family - 50,000 rubles. The first thing to do with a monthly salary is to allocate the amount you need to spend on repaying the debt. Every month you need to pay 20,000 rubles in debt. This does not mean that after 10 months debts will dissolve, because when it comes to loans and borrowings, you need to pay interest on them.

 

Cost Sharing Envelopes

All other incomes are permanent and additional are laid out in envelopes. Here it is important to understand that the debt on housing and communal services and the payment of regular receipts are different items of expenditure. We have already separated all debts separately. By the way, they can also be divided into different envelopes in order not to miss anything. You can have as many envelopes for everyday needs. You can organize a separate envelope for food, for eating out, for spending on clothing, household chemicals, and so on.

It is very important not to mix the contents of the envelopes. If you spent all the money prepared for fast food, then it's time to make sandwiches at home and take them with you. And next month, review their spending on this item of expenditure. When puzzled by the question of how to repay a debt, a person should always be attentive and watch his actions. This will be helped by the fact that when you use the “envelope” method, cash becomes your payment tool. It has already been proved by psychologists that it is more difficult for a person to part with banknotes than with numbers on a credit card when he is in the savings stage.

Of course, it will be useful to write in a notebook every time you spend money. So you can predict your budget in advance and see its weaknesses. You can mark different expenses in the calendar with different colors to see where expenses need to be increased and where they can be reduced. Do an audit, find out how much you spend on cable TV, Internet and telephony. Perhaps there are more favorable rates for you. Teach your children not to spend money every time they want. They should know, like you, that you only need to buy the necessary things for the family and products.

 

Summarize

The first thing you need to do is understand what situation you are in and evaluate your finances. Then you need to develop a specific plan and follow it responsibly. In the early stages, the numbers may scare you, the most difficult will be the first two - three months. The main thing is to follow your goal and firmly believe in yourself.

Longer Loans With Lower Interest

by admin

Well, we have all heard that changes in the fast credit industry after 2016 are expected, but what they really will be very difficult to predict. Many say that more loans with smaller amounts will be issued, but again others predict that more loans will be issued with much longer loan interest rates, and that this will result in a more serious and sustainable lending model that will also provide non-bank lenders with long-term credit. income.

 

The non-bank credit sector was already large enough

The non-bank credit sector was already large enough

Before the arrival of the fast loans in Latvia, as it included both leasing and consumer loans, but with the emergence of fast loans, the non-bank lending sector has grown to EUR 223 million in half a year, which would amount to more than 400 million over the year. Euro volume of loans issued. The next year 2016 will be a year of change that can mark new businesses that will overtake current market leaders as well as the bankruptcy of some companies that will not be able to keep up with the stiff competition and lower credit rates.

Of course, this industry will not disappear anywhere, and even if its credit and earnings fall, there will still be ways to provide more profitable services with greater profit opportunities. One example is that consumer credit and other long-term loans as car loans will be issued at higher interest rates, which in the long run will give creditors additional profits but will be less favorable for consumers. That's why, every time a service is restricted, it seems to do good, but it turns out that there are other places where companies will be able to grow and profit.

 

Know the fastest return on short-term loans

short-term loans

The total BG credit market is increasing every year and it is this non-bank credit sector that is one of the fastest growing, as it is possible to get the fastest return on short-term loans from the total amount of money invested. And with small loans, this return is also the highest, and these small loans are usually also offered with a variety of services, either free of charge or with no interest credit, which then attracts consumers, but then they are not willing to give back the loans and therefore extend the loan terms. and generally, creditors derive greater benefit from such a service than from conventional loans.

It is difficult to predict consumer behavior after these changes in CRPC, but it is clear that these big companies will not stand still and will have to think about new and new opportunities, as well as earn on limited interest rates! But the fact that their total profits will fall is clear and it will only mean that there will be competition for the profits that will be available and possibly making the services more attractive to consumers.

 

 

Conditions Precedent For Obtaining Credit

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The suspensive condition of obtaining credit is a device that protects you by allowing the borrower to buy only once the credit is obtained.

A real estate loan is obtained in two stages: the signing of an act at first, called the inclusive sales, then the final deed of sale.

At the time of the sales agreement, the provision of funds is not present. The final purchase therefore depends on obtaining the mortgage.

The law protects individuals who buy a home through a condition precedent , indeed, borrowers are protected if they do not get their loan.

 

What is a suspensive condition?

What is a suspensive condition?

A condition precedent is a condition that makes a contract expired if it does not happen. This condition does not depend only on the one who obliges himself. This condition essentially depends on a bank to be valid based on a particular event that occurs in the future. In the event that a bank refuses credit to a borrower, the use of the condition precedent will be possible in order to assert your freedom to forgo buying a home as part of a loan refusal.

This condition protects the buy only, not the seller. Therefore, if the borrower, therefore the buyer, does not have his loan provided by the sales clan, other financing alternatives can be obtained as a family loan or a loan from another financial institution however, this entails risks.

The suspensive condition is mandatory as soon as an individual buys a home through a mortgage. The purchase must inform the seller and this is in the sales agreement. If a buyer buys his home without real estate credit, he must give up the condition precedent . This must be stated in the sales agreement. This condition must be explicit, the amount, the property rate and its duration must be indicated.

 

The steps necessary to obtain your financing

loan refused

To obtain your financing, you must take the necessary steps as soon as you sign it. Once the compromise is signed, your loan application must be made in a credit institution. The Shadow accompanies you in your constitution of file and brings there the greatest care and necessary time to allow you to obtain your mortgage, and to gain a big time in the realization of your financing.

 

In case the loan is granted

If the loan application is accepted by a bank, the loan offer is sent to you in writing. All the related conditions are filled in on your credit. The loan offer is accompanied by a depreciation schedule containing several pieces of information. You have ten days to think before you commit. Once the mortgage has been granted, it must be made known to the seller and the notary. Validation of the buyer and seller is then made and the buyer can not cancel his purchase under risk of paying a penalty to the seller.

and if the loan is refused?

If your loan is refused, you must notify the notary and the seller by transferring the refusal of credit that has been communicated by the bank. A refusal of loan can attest to a failure of the condition and give a cancellation of compromise. The buyer may attempt another loan from another bank, and the seller can not force him to contact other lending institutions. You must know that loan refusals are extremely rare.

In The Regions They Prefer Payday Loan

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The number of Payday Loan clients is growing every year, despite the growth of stories about the inability of many borrowers to return the money. Such stories mainly occur with clients of fraudulent organizations that violate the law. In order not to be held hostage to a difficult situation, you need to know what requirements the payday loans organization must meet.

 

Payday Loan Borrower Gets Some Advantages

First of all, it should be understood that a microcredit company is not a bank, but an organization that is reliably controlled by the ABC Bank. When applying to an Payday Loan, a borrower gets some advantages over those who take a loan from a bank - these are, of course, a short time to provide the service and low requirements for the provision of documents. Also, in the regions, for example, they prefer payday loans because they simply do not have enough bank branches.

Regional representatives of the BRP Bank note that most often borrowers of Payday Loans borrow in order to satisfy some daily needs. They take small amounts of up to 20,000 rubles and try to repay loans within a month.

Payday Loan Borrower Gets Some Advantages

If we talk about investments in the ICC, then a rather large percentage of income can be observed (from 16% to 26%), but at the same time the investor has big risks because their investments are not insured by the state.

Any financial expert will inform you that before you come to a microloan company, you need to make sure that the organization is in the state register of the ABC Bank, and that it is also in some SRO.

If you decide to take a loan and apply to a reliable company, all the same, a difficult financial situation may arise in which it will be impossible to repay the loan on time. It is important to know that the law approves maximum amounts of debt and interest on a loan.

If, for any reason, the borrower understands that it is not possible to repay the debt, you should immediately contact your company manager and explain the situation. A reliable Payday Loan will always go to meet its client and offer options for resolving the situation. Moreover, for this there are special tools such as restructuring, loan refinancing or loan holidays.

Payday Loan On The Internet Are Gaining Momentum

by admin

Most microfinance organizations seek to improve their position on the world wide web and often issue payday loans via the Internet. According to the new law, a payday loan online will not have to be issued in excess of 15 thousand rubles from March 2017. In addition, the company, which will be allowed to issue loans remotely must have a share capital of at least 70 million rubles.

Payday Loans specialize in the rapid issuance of loans, the speed of action is their main advantage. By issuing payday loans via the Internet, they can even more quickly provide money to their borrowers. Although at the moment there are situations when a client has to resort to using an ATM or terminal to deposit money, loans online, still, remain the fastest way to receive funds.

In addition to high speed, payday loans are convenient because the client does not have to leave the house or leave work to fully utilize the service. This convenience also takes place if the borrower applied to a microfinance organization that delivers money to a house.

At the moment, competition among companies that issue payday loans over the Internet is quite high, but it continues to grow. There is statistics according to which, last year, online loans of almost 4 billion rubles were issued, and this figure is likely to only increase. Therefore, in spite of a lot of competition, when a client can compare the offers of dozens of companies in a matter of minutes, various Payday Loans tend to enter this market.

 

If you take payday loan over the Internet

If you take payday loan over the Internet

When choosing a company, you need to carefully study the conditions under which the payday loan is issued. It is important to correctly evaluate the Internet sites where the offers are located. If these are directory sites that do not issue loans, but only provide some information, you should definitely visit the site of interested Payday Loans to familiarize themselves with the conditions.

Appreciate all the advantages of our company, make a payday loan!