Consumer Loan – Good Money Loan

It should be emphasized that comparing the annual interest rates or the GPL of banking and non-banking sectors is not adequate as the GPL formula was originally created for calculating and comparing the annual interest rates on banking services, but banks are known to provide long-term services with a maturity longer than one. whereas non-bank creditors provide short-term services with a maturity of less than one year.

 

Annual interest rates are not high

Annual interest rates are not high

In reality, non-bank creditors’ annual interest rates are not as astronomically high. When comparing banking and non-bank services, you should remember this nuance, because in reality, the lower the loan repayment term, the lower the amount spent on interest payments – the benefit depends on the borrower’s payment discipline, ie the sooner the loan will be returned, the smaller will be its total cost.

However, in the case of consumer credit, the situation is slightly changing. Despite the fact that non-bank creditors in most cases provide short-term loans, in this case non-bank consumer credit is a long-term service with a repayment term of several months, just like bank loans. In this respect, it should be emphasized that non-bank quick credit is not the same as a non-bank consumer loan – a serious loan that provides for serious prerequisites and evaluation to get this loan at all.

 

Higher loan amounts and lower payment rates

Higher loan amounts and lower payment rates

These thorough checks and regulations significantly reduce the financial risks of creditors, so they can afford to grant higher loan amounts and lower payment rates. However, the interest payments on this loan are lower than for fast loans, but higher than for other banking services, such as mortgage or study loans, however, despite the relatively high interest payments, it should be remembered that no collateral is needed to obtain this loan, unlike already mortgages or study loans mentioned above.

  • For Bank Lenders:
    • SWE Bank from 18%
    • OOP Bank 16% -24%
    • CIT Bank 21% -23%
  • For non-bank lenders:
    • uBank 44% -529%
    • LC Credit 141% -220%
    • HST Credit 220% -398%
    • CLP Finance 06% -713%

When comparing the annual interest rates for both sectors, it should be borne in mind that the extra cost of the loan, which includes commissioning and issuing fees, is also to be considered, ranging from a few tens to up to EUR 150. It is often manipulated with different credit cost positions, that is, the APR is small, but the commission is high or vice versa – when evaluating and comparing services, these nuances need to be addressed in order not to increase the total cost of the credit.

Tax declaration 2015: Worth a tax consultant or rather make the tax return yourself?

May 31 is getting closer and closer – the deadline for filing the 2015 tax return.

Tips and decision support for your tax declaration 2015, which should be at the tax office 

Tips and decision support for your tax declaration 2015, which should be at the tax office 

So it’s about time to see if and how you’re filing the tax return. The following quick overview shows cases in which you are required to:

 

Who, for example, is obliged to file the 2015 tax return

Who, for example, is obliged to file the 2015 tax return

  • Joint couples, in which both partners are employed, use the tax code combination III / V.
  • Employees with additional income exceeding € 410.
  • Employees who were simultaneously employed by several employers.
  • Anyone who earns full-time or part-time income from self-employment must, in principle, submit their annual tax return.

But even if you are not obliged to pay, it is always worthwhile to do the annoying work. On average, employees can expect a refund of around € 800. Fast earned money, then!

The question is then immediately: Is a tax adviser worthwhile or do I rather make the tax declaration myself?

If you look at a disorderly stack of receipts, bills and papers for a whole year and then also keep an eye on the complicated online forms of the tax return, you easily get the idea: “That’s what the professional should do!”

But beware: The costs can quickly eat up the tax refund. For tax returns, the tax consultant will quickly pay a fee of € 700 for medium incomes. In the meantime, there are a whole series of tax programs that guide you step by step through the tax declaration and automatically fill in the complicated forms. Such programs usually cost around 30 €.

Your Decision Support: Is a Tax Consultant Worthwhile?

Your Decision Support: Is a Tax Consultant Worthwhile?

Yes,

  • if you do not want to get involved in tax matters;
  • if the fee is not an obstacle, perhaps because you expect a larger reimbursement;
  • if the tax circumstances are so complicated that you would risk mistakes if you do it alone.

No,

  • if you want a good overview of your finances;
  • if there are no particularly complicated tax issues;
  • if you only expect an average refund.

Tip: As an employee, you also have the opportunity to use the support and advice of a Good Lending. This is usually cheaper than the fee of a tax consultant. In any case, you should now deal with the 2015 tax return.

Can I Cancel Life Insurance From Credit?

Anyone who has personal credit should have asked this question himself a few times. After you have the credit in progress, is it possible to cancel the life insurance of the credit? In this article we will answer this and other questions, which comes to mind every month when it comes time to pay another installment of credit.

 

What Is Life Insurance?

What Is Life Insurance?

Very briefly, a life insurance is a contract that guarantees the payment of a certain financial amount in the event of a claim that causes death to the invalidity of its owner. For more detail we suggest you look at the differences between ITP and IAD.

 

Can I Cancel Life Insurance?

Can I Cancel Life Insurance?

The answer to the question depends on the type of credit agreement. In the case of housing credit banks usually require their client to have life insurance (there are some cases where it is exempt, but they are residual). We recently wrote an article on moving home life insurance and we have shown that it is possible to save money on insurance even if there is a rise in the spread.

In the case of personal credit, it is possible to cancel life insurance but provided that the policy provides for monthly payments throughout the contract. Thus, if you pay the full life insurance premium at the beginning of the contract, incorporating the total premium amount into the credit itself, you can not cancel the insurance. Incidentally, it is not by chance that some banks require that the life insurance premium be paid in full at the beginning of the contract.

If you settle the credit, you may recover the amount of the premium for unused time. However, as a rule, you have to ask the insurance company to reimburse you otherwise … many insurers use the policy of forgetting …

 

Can I cancel life insurance?

Can I cancel life insurance?

We can always make life insurance that covers a certain amount in the event of a claim. What happens is that some specify that the beneficiary is the bank and others that the beneficiary is the safe person or their heirs. So, since you pay the premium you can always take out life insurance.

Credit Renegotiation

Contrary to consolidated credit , credit renegotiation is a solution that is available to all people. In fact, it is a much more comprehensive solution than the consolidation of credits and that can solve the problem of excess debt at the root. So, know that you can renegotiate credits if you have:

  1. Bank incidents;
  2. Name on the Bank of SSZ black list ;
  3. High effort rate.

 

What is Possible to Do in Credit Renegotiation?

To be more successful, credit renegotiation should be extended to all of your lines of credit. However, you can only trade a few credits if you do not want to tinker with some line or if you see that it is not advantageous.

Depending on the type of credits you have, you will be able to:

  • Increase deadlines;
  • Reduce interest rates;
  • Refinance your credit into a separate agreement (for example, turning a credit card into a personal credit);
  • Assign grace periods or residual value.
  •  

What are the Results in Credit Renegotiation?

financial loan

Contrary to what many people consider, credit renegotiation often has more interesting results than credit consolidation. The experience of the by experts has presented the following numbers:

  • Average credit volume – € 80,000
  • Average number of lines of credit – 7.5 lines
  • Average Savings – Approximately 30% -40%.

Of course these numbers are average numbers. It may be possible to have higher or lower savings, depending on the family situation.

 

How Credit Renegotiation Works

The credit negotiation process begins with the survey of the financial situation of the family. In practice, you will need to identify:

  • Monthly income and expenses, making the family budget;
  • Debts and their characteristics, through the map of credit responsibilities and bank statements.

In possession of this information it will be possible to define a financial plan and start the negotiation process. The two main objectives of this process are to identify the real situation of the family and to collect arguments for negotiating with financial institutions.

 

Banking Is Open To Credit Trading

How Credit Renegotiation Works

After collecting all your information we will contact all financial institutions and submit offers to reduce benefits. The great goal will be to reduce your benefits to a sustainable value, ensuring that you can bear all of your costs and have the best solution for your case.

 

Does Credit Trading Have Any Costs?

The credit negotiation process has no cost of analysis or dossier. We do all the work for our clients until the new contracts are formalized between clients and financial institutions. We will present proposals with clients always the last word in the process. If we get the customer to reduce their services, the cost of the service will be indexed to the savings achieved . This means that if there were no savings there would be no cost to the process.

If you want to know in more detail how we will help you save with your credits, fill out our form and you will be contacted for a diagnosis.

Before Using The Credit Simulator

All commitments are to be fulfilled and honored. So before we take out a loan, we must take every precaution to ensure that we can fulfill our responsibilities.

Being a basic caution, many people sign contracts without reading them. Others, although reading, sign the contracts without realizing all the implications and clauses. All contracts are to be read and filed for future reference.

 

Do I Really Need This Credit?

Do I Really Need This Credit?

Before thinking about whether we can meet the credit and look for the most interesting alternatives, we should ask ourselves if we really need to buy the product. Sometimes we end up buying products that we do not need , so we have to make a careful analysis.

 

Can I Pay the Rendition?

Being sure that you need a certain product and that you are not able to pay it promptly, you should analyze your budget and see how much space you have to accommodate the expense. This analysis will be very important to determine some credit variables, such as the term and maximum rate we can afford.

 

What are Credit Alternatives?

Can I Have Help With the Credit Request?

You should never accept the first proposal you make. The suggestion always involves consulting various financial institutions and comparing prices. In addition, it is always possible to negotiate to reduce the amount of fees charged. The is not always guaranteed, so do not lose anything in trying.

 

Can I Have Help With the Credit Request?

Often it is necessary to resort to specialists who can help us access credit. There are people who dedicate their lives to finding the best credit solutions for their clients, and the amount charged is often dependent on the success of the operation. Never agree to pay the consultants a value for the analysis of your process. It will thus avoid mockery and bad experiences.

If you need some advice why not start by using the SSN credit simulator? You’ll see that you’ll be able to answer some of the above questions.

Personal Payday Loans: Fast Cash Without Too Many Bureaucracies?

Who does not want quick, easy money and preferably paying little interest? Personal Credit can fit into all of these options and since taking responsibility and financial planning can be one of the best ways to realize a dream, acquire a good, or even solve that situation of financial tightening because of unplanned expenses or emergencies that occur in our lives.

 

Ease of Hiring

Ease of Hiring

Personal Credit is one of the lines that has a very simplified contracting in the credit market, depending on the credit line, many institutions release the value even without consulting SPC and Serasa, as long as their documentation and profile fit into the operation of the institution.

A good business relationship with banks also allows them to be released based on their history of use and financial capacity, pre-approved lines of credit, where the Bank already anticipates the release of a limit for you to use at the moment you think is more feasible , the contracting of this line can usually be done through the ATM, central telephone service of the institution and also through the internet.

Credit card and financial operators also usually provide credit card customers with personal credit limits, sometimes including the option to withdraw the value directly from an ATM, this mode can be very useful in times of emergency, it is only important to pay attention to the interest rates that are normally very high in these operations with these institutions.

 

Interest Rates

There are different types of personal payday loans in the market, which basically differ in the value of the credit, the guarantee offered in the operation and also in the term that the credit will be paid in installments.

The better your credit analysis and the better the guarantee offered for lower transaction will be the interest rate, if we compare for example a personal payday loan pre-approved by the bank without the need for collateral, the fees will normally be higher than a credit for example, that uses your payroll as a guarantee of certain payment to the financial institution.

Another important point to take into consideration in addition to interest rates are the fees, charges and interest involved in the operation, the values ​​of surveys, contract drafting and insurance vary greatly in value between one institution and another, so it is very important Always compare loan options before closing the hiring.

 

Bureaucracy

Bureaucracy

Many institutions today offer credit lines where it is possible to contract the loan completely online, which greatly facilitates the process. It is important to be taken into account, however, that some basic documents will always be necessary, such as proof of income, proof of address, documentation and personal registration, with the sending of digitized documentation for analysis.

 

Attention

In digital and offline means it is important to always be very careful before closing a loan operation, many scammers pose as representatives of financial institutions, aiming to capture your personal data and in some cases apply scams, conditioning your loan payment of prepaid fees and deposits. Therefore, evaluate the financial institution well before closing its operation.

Asset-Backed Credit – What Is It?

Did you unload your credit map from the ABC Bank and was confronted with information that has a credit down to the asset and do not know what it means? Maybe you are trying to get credit and you see that the banks will not grant you … well, in this article we will explain to you what a downed loan means and give you a very important alert.

 

A Bank Classification

Bank

Asset-backed credit is a status of several that exist on ABC Bank’s credit maps. If everything is going well, we have a regular credit. If you are late, we refer to “overdue credit.” If the bank tries to recover the credit in court we have the status “due in court litigation”. If, finally, the bank gave up recovering the amount owed puts the status of “Credit Down to Assets”.

Taking out an asset credit means that the bank withdraws this right from its accounts. That is, it has no hope of getting the money back, which does not invalidate that it sells the credit to collection institutions that will then look for all the mechanisms at their disposal (some of more dubious legality) to recover the amounts in delay.

 

How to Clear the Black List Name?

How to Clear the Black List Name?

If you have a credit with this categorization, be aware that you will only clear your name if you pay the amount in arrears or if the bank sells this credit to third parties (in this situation your name leaves the ABC Bank but the customer maintains the obligation to pay the credit amount in arrears). So perhaps the best alternative is to even try to negotiate with the bank in question to regularize this situation, which may involve making a payment plan.

 

An alert

If you have your name “spotted” on the ABC Bank responsibilities map, you will know that you will not have access to credit , even if there are institutions that tell you that it is possible (of course, for a “small” fee). In practice, it is forbidden by law to have access to credit, as banks are required to assess the financial capacity of their customers. A default credit is a clear indication of financial difficulty and therefore can not have access to credit.

Low Income Loan: Where to Find It and How It Works

The low-income loan is very limited in the credit market, just observe the minimum income requirements of some online lenders. However, finding a low-income loan does not have to be an impossible mission.

There are some lenders that provide credit with very affordable interest rates for those with low incomes, so we will address where to find this type of loan and how it works.

Understanding the low-income loan

Understanding the low-income loan

There are companies that work with the specific credit modality for low income people.

  • Work with a formal contract or be self-employed?

Negative loans, short-term loans, group loans, and payroll loans are examples of alternatives available.

  • Know the different types of loans and their advantages

Generally. these listed credit options offer loans with very restricted amounts, such as up to R $ 5 thousand, except for the payroll loan, in which it reaches a consignable margin of up to R $ 90 thousand.

This modality usually has higher interest rates compared to traditional loans.

  • How does interest on loans work?

What to do to get my credit approved

What to do to get my credit approved

For your credit to be approved it is necessary to follow the requirements requested by the private lender or credit company.

Some lenders may or may not require a minimum income to approve the loan.

To find out if this requirement will be required by the company that will apply for the loan, enter the website and look for this information.

Even if the company does not determine a minimum income, be aware of other possible additional fees you may pay.

  • What credit options are available? See which one is best for you

Comparing Low Income Loan Options

Comparing Low Income Loan Options

Look closely at the points listed when comparing your loan options:

  • Interest: pay attention to the interest rate of the loan requested and also know the fixed and variable interest rates.
  • Charges: include service fees, insurance, among others, rates vary from lender to lender.
  • Loan deadlines: time limit for the loan to be taken care of not to get in the way.
  • Minimum loan amount: See if the loan requested has a minimum value for the loan or for the installment.

In addition, it is essential to be aware of the CET (Total Effective Cost) of each loan option, use this factor to decide which is the choice that best meets your needs.

Still have not decided which loan to take? Simulate with the Financial Group. We guarantee ease, security and speed.

Financial Group, you far from red.

Pay back your student loan wisely

It is now a general idea that, after high school, the learner continues to study in higher education. The state-supported headcount decreasing year by year means that more and more people pay for education every year. For many families, this is an insurmountable task, so they have to turn to student loans. Now let’s look at how to get rid of this bad credit as best as possible?

Student loan is the worst kind of loan, because the interest is included in the capital debt and the capital debt increases with interest from year to year…

How does Student Loan Work?

How does Student Loan Work?

Student loans can be granted to all students in higher education in a simplified manner. This means that there is no need to prove income or provide cover. She goes to the Student Loan Center, signs a few papers and already gets the credit. You can choose from a loan for student tuition and free-to-use versions.

It is customary to take the maximum amount of free-to-use student loans and swing (housing, meal, party)

It is worth noting that due to its easy accessibility, not only those who would not be able to cover the tuition fees would be taken. In the same way, student loans are admitted by scholars, state-sponsored or those who have any money. Maybe it is attractive to a young person because they don’t have to be paid back, just after school and even a part of the salary. This sounds very good, but somehow everyone misses out on the fact that the student loan interest is included in the capital debt, and even in our school years our capital debt is increasing year after year. In addition, it often happens that the debt is not reduced despite the minimum amount to be paid, as the interest rate is higher.

What does a Student Loan Calculator Say?

Student Loan

From the student loan official calculator you can see that the student who is

  • the maximum amount of 250 000 HUF every six months
  • 10 times
  • 5 years at school
  • after that br. You start working with HUF 300,000

the amount of HUF 2 616 902 included in the loan is already HUF 2 972 250 in 2024 (when it starts to be repaid). If interest is not increased for student loan 1 (we do not get a state guarantee, our interest may be 10%…), we paid 47 years old (with the date of birth: 1999, ie 19 years old) in the monthly payment of HUF 16,834. the credit. Our full repayment is close to HUF 5,000,000 !!!!!!!

It is not the case that the minimum amount to be paid in this case is not around 20,000, but about 8-10,000 HUF. So, who pays back the minimum, he can’t clear himself up in life, but he pays in exchange for a 5-10M fortune…

Is the personal loan better?

Is the personal loan better?

If we think better, then even with a family reunion, even a personal loan is not an impossible solution under today’s interest rates. Interestingly, if you enter in any of the loan comparisons that you want to raise $ 2,500,000 for 84 months, you will receive the following information:

38,901 HUF / month

3 267 876 full refund! So, by borrowing personal loans instead of student loans, we can make our liabilities more predictable, guaranteed to be repaid by 1.8 million forints less than if we had made a student loan. This is a brutal difference, and the personal loan also has a deterrent effect!

People are afraid of credit, personal loans. If possible, do not feel that it is free money. The exception is the student loan, which we “entrust to the child”, who writes contracts with young people who are not aware of their long-term effects. In this sense, I am almost certain that in the case of higher education financed by a personal loan, this money will not be taken up by people who would have any money and would not spend their money.

What if we already have a student loan?

What if we already have a student loan?

The 200 forint rule

Make every day $ 200 consistently set aside. It’s a coin that flips into our wallet. Exactly the amount that we are sure to spend on a daily basis in the car park, for the coffee, the extra boxed drinks or anything else. I think an adult with an average income is able to drop 200 pounds a day… or two 100 or 10 twenty forints into the piggy bank…

If you enter this into the student loan calculator, then you are surprised…

  • We’ve saved 9 years
  • we had to deposit less than HUF 1,000,000

Isn’t that the personal loan solution?

Isn

I didn’t tell you directly that the math would obviously be different in the case of student loans, if you would not take 16 thousand forints a month, but for 38 thousand forints… look…

And we’ve been losing another 6 years and half a million forints!

You can repay your student loan the best if you put more than you expect. Unless you are a woman and you have a child, you will release half or all of the debt. This is a huge opportunity, since the last calculation in this case is smoothly supported by the family budget, while the wife’s student loan is no longer due to the discount. In this case, it is worthwhile to redirect the wife’s repayment to the husband’s credit immediately and get rid of this construction as soon as possible!

6 Tips for Choosing the Best Credit Card

Credit cards can be great tools for managing your money. But they can also bring on nightmares and serious financial problems. In this article we will leave you 6 tips to be able to choose the best credit card for you.

 

Why do you need a credit card?

Why do you need a credit card?

Before looking for a credit card you need to know the reasons that lead you to want to have one. We are not richer simply because we have several cards and credit lines available. What are your needs? How will you use the card? Will the card not lead to financial turmoil? You should answer these and many other questions before you go on to the next steps.

 

Do not go in the offers tale …

Do not go in the offers tale ...

Ever wondered what leads some financial institutions to offer mobile phones or other benefits to hire a particular credit card? Credit cards have value in their own right, due to their features and facilities they bring together. The credit card amount is not on the mobile phone that they offer us.

 

Search and pay attention to …

Search and pay attention to ...

The offer of credit cards is vast. There are cards for different purposes and for people with different profiles. So, do not assume that all cards are the same as should not assume that banks have all the same offer. Search and see different alternatives.

 

Look at all costs

Look at all costs

The cost of a credit card is not just the interest rate (in fact, it is most likely part of the group of people who pay the card at 100% and do not pay interest). There are several costs that can be applied, namely commission of survey in Portugal or abroad, annuities and others.

 

Be aware of less visible benefits

Be aware of less visible benefits

There are some benefits associated with regular use of a credit card. In this field, we talk about insurance, discount plans, travel miles, among others. Keep in mind, however, that these benefits are good but are a plus. They are not the main factor of analysis. We can call them “cherry on the cake”.

 

And the sixth tip is …

And the sixth tip is ...

Why not open your bank account in a bank that does not charge you commissions and thus take advantage to save on the whole line? We suggest that you get to know our analysis of the best bank for your current account and start saving money today, because it is not worth paying commissions for everything and for nothing!