Debt rescheduling: When is it worth repaying?

There is not always enough money in the cash register to be able to fulfill every wish directly. Whether it is to set up a kitchen, buy an apartment or build a house – a loan is usually required for such large projects. Borrowing is particularly attractive due to the currently low interest rates in Austria. However, anyone who is still tied to an existing loan with a long term often pays significantly higher interest on the borrowed amount. But even in this case there is a way to benefit from the currently low interest rates: debt restructuring.

What is debt restructuring?

What is debt restructuring?

As a rule, debt restructuring can be interesting for borrowers who are still tied to a loan with a long term, but whose loan interest rates are significantly higher than those of the current loan offers. This is often the case for loan contracts with a large loan amount, such as housing loans. As part of a debt rescheduling, the customer takes out a loan from a new bank in order to use this money to repay the old loan.

The amount of the debt rescheduling loan usually corresponds to the remaining debt of the existing old loan, but at the currently low interest rates. For the borrower this often means a large savings in interest, but he should still calculate beforehand.

Attention: prepayment penalty fee

The old lender escapes interest gains through the early repayment of the loan, so he usually demands a so-called prepayment penalty from the borrower. The calculation of this fee varies from provider to provider. In general, this penalty fee is a maximum of 1 percent of the redemption amount. If the prepayment penalty is very high, it may be that a debt rescheduling in spite of interest savings is not worthwhile. This has to be calculated individually from case to case.

If you want to reschedule a loan, you should calculate in advance whether it is worth it. It is important to understand the contractual provisions of the existing contract exactly and to include factors such as annual interest, loan amount and term in the calculation. As a rule, it is also possible to ask the bank how high the prepayment penalty would be for a debt rescheduling.

Credit comparison can save you from making the wrong decision

Credit comparison can save you from making the wrong decision

The cheaper the loan offer from a provider, the higher the likelihood that the rescheduling of the old contract will be worthwhile. Especially with loans with a large loan amount, just a few percent can make a difference of several thousand euros in total. It is therefore particularly important to compare providers with each other. If you use the credit comparison, you can start a search with just a few clicks, which is based on the previously entered personal information.

The more accurate the comparison, the more likely it is that a wrong decision can be avoided, in which the customer pays too much for his loan. Anyone who knows the offers of the competition can also negotiate more attractive terms with the new contractual partner. Because they are usually very interested in winning a new customer.

In the course of the low interest rate phase, some banks also offer an extra debt rescheduling loan, the terms of which have been adapted to the replacement of an existing contract and the creation of a new contract. The prepayment penalty of the previous bank partner cannot necessarily compensate for a debt rescheduling loan.

Does refinancing multiple loans make sense?

Does refinancing multiple loans make sense?

Loans are often intended for a specific purpose. For example, a car cannot be bought with a mortgage loan because it is tied to a residential purpose. As a result, borrowers can well end up repaying several contracts at the same time. If the remaining term of these individual loans is rather long, it can make sense to take out a loan from another bank and use it to replace the old contracts loan by loan. This means that all loan amounts can be bundled in one loan. By rescheduling several loans into a single one, bank customers can benefit from:

  • Clarity : If several loans are combined in one, the bank customer only has to follow a repayment plan. This creates clarity and can help to organize the finances. In the long run, this can save a lot of effort.
  • Interest savings : Instead of paying extra interest for each loan, interest is charged only once for the total loan amount of all loans. This generally makes the loan cheaper overall.
  • Reduction of the debt burden : If the new loan is significantly cheaper, the borrower can be relieved of a large burden in the long term.

Debt rescheduling

Those who regularly overdraw the account and use the overdraft facility usually pay high fees. Because especially for bank overdrafts, banks often charge interest that can amount to up to 20 percent of the minus amount. Depending on your life situation, it may make sense to take out a loan in this case and use it to repay the current account credit. In most cases, the interest on loan contracts is significantly cheaper than overdrawing the account.

Only those who are sure should renegotiate

Only those who are sure should renegotiate

In principle, the replacement of an old loan with expensive interest by rescheduling to a new contract partner can represent a large, financial saving. This is often the case with old contracts with long terms and outdated conditions. Depending on the circumstances, conditions and fees, rescheduling can also cost additional money – and always when high fees are due. Therefore, borrowers should always check carefully and calculate which variant is the cheapest.

This entry was posted on May 19, 2020, in Uncategorized.

How the debt settlement will affect my credit score

Debt settlement means that you have agreed with your creditors to pay less than your balance to meet your debt. For example, if a credit card company agrees to accept a $ 2,000 payment on a $ 5,000 debt. More commentary at allescorts1.com

How will the debt settlement affect the loan?

How will the debt settlement affect the loan?

Once the debt is settled, the creditor updates your credit report to show a “Settled” or “Paid Settled” status. While the “Settled” status is slightly better than the “Unpaid” status, any payment status that is not “Paid as agreed” or paid in full “is bad for your credit.

Since you do not pay the full balance as agreed, a debt settlement will have a negative effect on your credit score. Your credit is based on several different factors, so it’s hard to predict how much credit you will lose due to your debt settlement. However, we know that a debt settlement can have a significant impact on your credit score.

What FICO is saying about debt settlement and your credit score

What FICO is saying about debt settlement and your credit score

In 2009, FICO released FICO loss data based on two hypothetical consumers with different credit scores. In one scenario, a person with 680 credit points (who already had one late payment on a credit card) would lose between 45 and 65 credit points after settling for one credit card, and a person with 780 credit points (without other late payments) would lose between 140 and 160 points.

Your credit score can have a similar decline if you have a credit profile similar to these scenarios and only handle one debt.

Your credit score could drop lower if you settle for more than one account.

You can better predict the impact of credit score delays by using the FICO Score Simulator, available when you purchase the FICO Score.

Debt settlement in the late amounts

Debt settlement will hurt your credit score more if the credit cards you have settled are already in good standing and you end up with multiple credit card accounts.

Many debt settlement companies will advise you to deliberately tighten your payments so that creditors will be more willing to accept a debt settlement. (Borrowers are usually only motivated to settle debts that seem at risk of never paying them.) Following the advice of a debt settlement company, this means several months of missed payments that hurt your credit even before settling on debt.

Debt settlement information will remain on your credit report for seven years, but it will have less impact on your credit score, the older the information will be obtained and how more positive information will be added to your credit report.

Recovering your loan after settling your debt

Recovering your loan after settling your debt

Keep in mind that the goal of debt settlement is to get rid of some of your debt, especially if you cannot afford to pay all the balance in full. This can mean temporarily sacrificing your credit score – especially if you are not looking for a large loan – to get out of debt.

Once you’ve settled the balance, you can focus on rebuilding your credit score. Since the loan is based on lending, you need to use credit cards or loans to renew the loan. Responsible borrowing and timely payments are the key to achieving good credit and debt.

What Is a Payday Loan Debt Consolidation?

 

Payday loan debt consolidation is very similar to a traditional consolidation loan. However, the difference is that you will be taking out a second loan to pay off your first one. To find out how the process works, let’s take a look at the payday loan debt consolidation process.

Payday loan debt consolidation process

Payday loan debt consolidation process

First, you take out a loan at a lower interest rate. Then, it is repaid. The terms of the loan are extended by making an additional, higher loan payment. The debt consolidation process is like taking out a second loan.

Your second loan will carry the same terms as your first loan. You will be asked to make the minimum monthly payment, with some fees and penalties, along with your regular payments. The amount of debt is reduced each month, until all of your debt is paid in full.

When you start looking for your first loan, many people have to deal with high interest rates. This happens because payday loan companies want to recoup some of their costs in the cost of the loan. Since the majority of people don’t have the resources to pay back the loan, payday loan companies use the threat of legal action to collect the money from people who can’t pay.

This can be prevented by keeping your finances in order and keeping a mortgage credit report up to date. You can do this by paying your bills on time and keeping a clean credit report.

How to pay off debts?

How to pay off debts?

Instead of taking out more money to pay off loans, you can use the extra money to pay down existing debts, which saves on legal action. Paying off the debts yourself allows you to save money. The income you receive will go towards paying off your other debts.

If you have been trying to consolidate loans for a while, you may want to consider a home equity loan, instead of another loan. Many lenders are willing to give you a lower interest rate.

If you have credit card debt, you can consolidate your debt and get out of credit card debt. Credit card debt is a common problem, and you can eliminate a lot of it by consolidating it. Once you have eliminated your credit card debt, it’s easier to pay off the consolidation loan, and eliminate your debt.

Another option is to convert your debt to a mortgage loan, where you pay the entire amount in one payment. With a mortgage loan, you make one payment every month. This option offers better flexibility, but it also takes longer to pay off the loan.

Fix your credit score

Fix your credit score

If you have a bad credit score, you can try a loan, which will offer you much lower interest rates. However, you may be required to pay a deposit. Some lenders will work with you to fix your credit score and get you a loan that has a lower interest rate, or one that comes with no deposit.

In any case, debt consolidation is a good option for managing your debt. It is important to understand that your loans are not deleted from your credit history. A debt consolidation loan is a good way to lower your overall interest rate, which means you can get rid of all your debts much faster.

Just because you have bad credit, doesn’t mean you can’t get a loan. Most lenders are willing to help you in this situation. They will use all the available tools they have to help you get out of debt.

Cash Advances Online

Payday loans, also known as cash advances, are short-term loans that are meant to be paid back in less than three days. Many banks and lending institutions allow customers to obtain cash advances without collateral. Because there is no collateral involved, if the borrower fails to repay the loan on time, there is no risk to the bank. More commentary at andrelavelle.net

How to apply cash advance online

How to apply cash advance online

Payday loans are convenient because the lender has already verified the customer’s ability to repay the loan. The entire process is completed online and can take only a few minutes. When you apply for cash advances online, you have the added convenience of speaking with a live representative that can answer any questions you may have about your loan.

Because payday loans are typically done online, it is possible to apply for cash advances online and be approved in just a few minutes. The entire application process is usually performed through the company’s secure website. You can log in to the site at any time of the day or night and can make changes to your application at any time as well.

Benefits of the short term loan online

Benefits of the short term loan online

Many consumers do not understand the many benefits of a short-term loan, such as the convenience of being able to apply online. They may be concerned about the fact that they cannot test drive a car or try on a dress before buying it. While these worries are understandable, they can all be avoided when you choose to apply for a payday loan online.

Getting money online is convenient and often faster than going to a local bank to apply for a loan. Because most online companies accept deposits from customers in the same manner as a traditional bank, the process is almost identical. The only difference is that online loans are not tied to any specific deposit. Because there is no collateral involved, if the borrower fails to repay the loan on time, there is no risk to the bank.

Because payday loans are meant to be paid back in less than three days, the loan is done using a debit card. The only difference is that instead of depositing money to a bank account, the customer uses their debit card to make the loan. If the borrower does not have access to a credit card, they can always deposit their payment into their checking account.

Having the ability to apply for money online saves the borrower time and money. In addition, most payday loan companies will provide an instant approval if the customer meets the criteria for the company. Since it is usually the case that the customer will need to make a deposit for the loan, that is also an advantage to apply for online.

Since there is no risk involved in the process, some consumers are hesitant to use the internet to verify personal information. However, this type of lending process is very simple. Anyone that has access to a computer can apply for the loan by simply filling out an online application.

If you have several payday lenders to choose from, the internet can help you find the best place to take out a paycheck payday loans. Many online companies allow their customers to compare different loans and make the best decision for them. You can find the highest interest rate online, make sure the lender offers the best terms and the lowest overall cost of borrowing, then choose the one that best fits your needs.

Use the internet access to check your payment

Use the internet access to check your payment

Since online banking allows you to make your payments at anytime, you can use your internet access to ensure you are aware of your progress. Since you are making the payment electronically, there is no paper trail, which means your payment can’t be questioned by a collection agency. This is a benefit to any consumer because the lender can’t ask for payment verification or prove that the funds were deposited into your account in a timely manner.

Make sure you understand the terms and conditions of the cash advances online before you agree to accept the terms. If the monthly rate is too high, try to find a payday lender that offers a better rate and if there is a higher payment required, check with the lender to see if they will waive the late fees. to keep the customer’s monthly payment affordable.  There are some lenders that will not be able to waive the fees and charge a higher rate when the customer does not pay in a timely manner.

This entry was posted on March 24, 2020, in Uncategorized.

How much credit do you get with which income?

A loan is often taken out when there is insufficient funds. This can be a loan for a new car, a vacation trip, a new kitchen or a television. In particular, buying a house is often financed through a loan.

Before you apply for a loan, you should find out how much credit you get on what income? You can find out easily and conveniently with a household calculator and a loan calculator or loan comparison.

 

Factors that are crucial for credit approval

Factors that are crucial for credit approval

If you want to apply for a loan, you should know that there is basically no direct minimum income for a loan. It can happen that a loan seeker who earns 3,000 dollars net receives a loan rejection. A loan seeker with 900 dollars, however, gets a loan. When lending, many factors play a role in getting credit approval.

In addition to the minimum income for a loan, existing liabilities, the credit record score, the fixed-term employment relationship, sufficient equity and possible loan guarantees, your loan will be rejected.

 

What is the minimum income for a loan?

money loans

However, a fixed monthly income must be available in order to guarantee the repayment of a loan. Unemployed people who do not have collateral, for example, are often rejected directly because social benefits do not count as income for the banks. In most cases, the minimum income for a loan prescribed by banks must be above the garnishment exemption limit. The current garnishment exemption limit is 1100 dollars net. However, there are banks that provide a loan with a minimum income of USD 901.00. The maximum loan amount is based on the customer’s income and ability to pay.

A loan is also based on the excess liquidity. This means that after deducting all expenses, there must be a residual amount that can possibly be used for the credit installment. The bank will check this with a small budget bill. Banks check this against the submitted documents, such as bank statements from the past three months and proof of salary. However, some lenders also require a copy of the employment contract.

 

Requirements for the minimum loan income

Requirements loan income

If you are looking for a loan, you should first apply for a loan. However, you should make a condition request here instead of a loan application. Loan seekers can find a suitable provider with a loan comparison. To find out the personal interest rate, it is first necessary to send a condition request to the lender. This provides loan seekers with a loan offer tailored to their needs. If this does not appeal to the customer, he can easily reject it.

 

How can you increase your credit opportunities?

credit opportunities?

If you are looking for a loan, you should bear in mind that borrowers with permanent employment and sufficient income have better credit opportunities than, for example, an unemployed person or a mini-jobber. Those who do not earn enough or who have bad credit can increase their credit opportunities and thus the maximum loan amount with so-called collateral loan. This can be real estate or valuables. But a solvent guarantor or second borrower can also increase the credit opportunities. If a guarantor is found, borrowers should make sure to pay the accruing loan installments correctly. If this does not happen, the guarantor is brought into recourse. So you can see that a guarantee is not a short walk, but a responsible task.

 

Does it have to be the maximum loan amount?

maximum loan amount?

If a loan income is taken up, borrowers should also pay attention to the terms in addition to the affordable loan amount. A short term means that the loan is paid off quickly, but higher installments must be paid. A longer term, however, has lower rates. Even if the necessary conditions are in place for the borrower to be able to pay higher loan installments, the borrower should never go up to the maximum loan amount. A longer term can then lead to the fact that any suddenly occurring purchases can be better paid. So there is no need to borrow again. Therefore, only as much credit should be taken out with a certain income as is actually needed. For example, many borrowers drive an expensive car. If repairs come up, the financial situation can worsen very quickly if the entire income is used up for the loan installment.

This entry was posted on March 7, 2020, in Uncategorized.

You need money? – Online personal credits.

 

Quick personal loans and credits have been increasing in popularity. Despite their interests and the short repayment periods associated, especially in the case of mini-loans, the ease with which they are accessed and the speed with which money can be obtained, among other advantages, have become a recurring product.

The need for money is common in the day to day

The need for money is common in the day to day

Their ability to save is very brief to have a small financial cushion with which to face unforeseen investments and expenses.

In the middle of last year, for example, household savings had been placed at minimum levels. Specifically, the rate stood at 5% between January and March 2018, just one tenth above the historical low that had been reached in December 2017. It is true that household incomes increased by 14 billion USD. That year, 2017, but so did consumption, at 25 billion. Hence the minimum savings rate, according to data from the National Statistics Institute (INE).

The meager income that many Spanish families have means that they live practically daily, that is, that they reach the end of the month with no balance in their accounts and, therefore, cannot save, or can save very little. Anything that comes a time of spending, such as summer vacation, Christmas or back to school, need extra money. And asking for a quick loan, or resorting to any similar financial product, has become an option.

Fast credit online

Fast credit online

Quick loans work similarly to traditional banking lines of credit. The online financial companies that offer it propose different amounts, which can range from 500 to 5000 USD, and repayment terms from 3 to 24 months, usually.

Each operator sets their own conditions, so it is advisable to read the terms before hiring one or the other, but the operation is similar. They propose to the client to use the simulator to choose the amount to pay and the minimum monthly fee, and request the credit through an online process that they assure is fast and comfortable. In this way, cheap and fast loans are sold by hype, by the process itself and by promotions such as those of new clients, which allow you to enjoy a first loan without interest. It is something common to the three products we are talking about.

Once requested and approved, quick credit can be used and returned at any time, accessing a partial or total amount. Each financial institution establishes a minimum monthly payment for having that amount available, in addition to the interest applied to the amounts that are available.

In short, it makes available to the client an amount of money, up to a limit, so that the client can use it as they wish, and return it month by month with the interest associated with its use.

Quick Mini Loans

Quick Mini Loans

Even easier is the operation of online quick mini-loans. In this case, the client has an amount of money, which is paid at once, and which must be returned within a short period of time. It works as an advance: you need it to meet some expense that with your usual source of income you can not assume, but will return it as soon as you have liquidity again.

The mini-loans are usually low amounts, between 300 and 600 USD, and it is common for the first clients to only be able to access a limit amount that will increase once they have returned it without problems, if they need to resort to another. The return terms can range from seven to 30 days.

There are financiers, however, who go so far as to offer 800 to return in 60 days or more, fulfilling a series of requirements.

Quick and easy loans

Quick and easy loans

When we talk about fast loans online, we are talking about installment loans that carry higher amounts than in the case of mini-loans, and also longer repayment terms and installments. Thus, we are talking about amounts that can range between 500 and 2,000 USD or more (up to 5,000), and between 3 and 24 months of return.

Products are further diversified according to customer needs. We have to speak at this point of the online comparators, which propose different options to filter results, and make a more accurate search, which fits what the client is looking for. Precisely therein lies one of its main profits, which explains why they have grown along with fast loans and credits.

So, when it comes to fast money, this is the most sought after:

Quick mini loans with Financial Credit Institutions. There are financiers who lend to those who appear in delinquent files such as Financial Credit Institutions. However, the proposals they send to the client may not correspond to their initial request, to which quite high interests can be added.

Fast personal loans without paperwork. Good Lender offer installment loans without paperwork. It is not that they do not check the identity of the customer and other relevant information such as credit history and debts, but they use other ways to do it. One of the best known platforms is Instantor.

Fast online loans without interest. A regular promotion for new customers. They do not pay interest on the first loan, which normally must be less than the old clients. 

Quick loans without payroll. Online financiers request a regular source of income, but not all of them specifically require a payroll, they can treat you as another. They do, for example, dispon and Wonga.

Quick loans without payroll or endorsement. In addition to the above, there is no requirement for a guarantee, physical or property.

This entry was posted on March 6, 2020, in Uncategorized.

Construction loan and what really matters with the right financing

The building loan and what really matters with the right financing? How to get a building loan that is sustainable and secure? Here you can get all the information you need about financing with a building loan. Simple and easy to understand. As a free service, we offer various tools for download. So organizing and evaluating your financing with a building loan is a walk. Before you can start with your building loan, there are a few questions to answer about your building loan.

Building loan and the amount of your financial opportunities?

Building loan and the amount of your financial opportunities?

Before you start looking for a suitable property, you should first clarify which financial framework is suitable for your building loan. How do you determine a budget for your building loan? More information about the construction loan budget…

 

How to correctly compare building loan interest?

Do you think that one can simply compare building rates? Unfortunately, this is a common misconception! Because, not the mortgage lender with the cheapest interest is also the cheapest. But how do you find the cheapest building loan? Answers to Compare building loan interest rates.

 

What are the options for a building loan?

How to correctly compare building loan interest?

There are a number of ways to get a building loan. But not everyone is suitable for everyone. Every building loan has advantages and disadvantages. But what does which construction loan do? Which financing is right for you?
About building loan financing types.

 

Attention: follow-up financing for your building loan?

A wrong follow-up financing gives borrowers away more than USD 3 billion per year. What needs to be considered in connection financing for your building loan and how to find the right bank?
Everything for follow-up financing.

 

What does which construction loan do?

A comparison with a classic building loan and our premium building loan quickly makes it clear what it is about. What are the advantages and disadvantages of each financing model?
Which construction loan does what?

 

How do you involve the state with Bau-Maxbuild in their building loan?

Bau-Maxbuild replaces the homeowner allowance. Since 2008 there has been an option Everything to build – Maxbuild
Construction – Maxbuild to use to finance construction loans. Read all the advantages and how this works.

 

Our building loan tips

building loan tips

We put an end to myths and legends about building loans. Our tips for your building loan are “gold value”. This saves you a lot of walking and you know what is important. What should you watch out for with a building loan? Read our building loan tips.

 

Current building rates

What are the current building rates? With us you can download the current building rates free of charge every month. This gives you a quick overview of how high or low the building rates are currently in Germany.

Download the building loan interest here.

This entry was posted on February 20, 2020, in Uncategorized.

Get Your Loan Easily From Banks

Many people face financial difficulties due to the low-income level and the high level of expenses. When extra expenses arising out of this situation are added to this, people may face worse situations.

As a result, people who have financial difficulties go into a series of monetary searches to soften their situation and to achieve a more comfortable life. This goes up to the question of how can I get credit from banks.

Many times there is a situation of requesting a loan from relatives or friends. This situation will lead to the emergence of a monetary situation, which may be a problem, as well.

However, it would be best to request the cash from the institutions that provide monetary trading services and legal aid in order to meet the current monetary need in response to these and similar debt requests. People will be the most robust auxiliary banks in this regard.

They do not have enough information about demanding money from banks

bank

Although many people are also in need, they do not have enough information about demanding money from banks, that is, asking for a loan, or they are in the background because they think it is legal. This raises the question of how I can get a loan from banks.

Banks offer credit services to the people in need, taking into account the income condition of their priority, as their business is based on legal procedure, whether official or private.

Banks offer cash money service to those who request it at interest rates specified in the general bank regulations. Many banks may request some documents on behalf of people wishing to take out loans, in order not to make both the customer and the bank victimized.

The person who wants to take a loan has a certain income

The person who wants to take a loan has a certain income

Among these documents, identity, income document, and deed, license, etc. as needed. You can request different documents such as.

The fact that the person who wants to take a loan has a certain income to repay the loan, payroll, tax certificate are the documents that will prove this. In addition, in many cases, there may be a request for a guarantor.

It provides loans to the person who will fulfill all the conditions of the loan services offered by the bank. In this way, all question marks about the question “How can I get credit from banks” are deleted. It is very important to use the loan as needed.

This entry was posted on February 18, 2020, in Uncategorized.

What Affects The Credit Rating Most

 

Consumers who want to increase their credit rating, which is updated at least once in each payment period, should know the percentiles in a short time and immediately turn the most important factors in their favor. If these requirements are met, the credit rating will increase in a very short time, and if not, it will decrease in a very short time.

Factors Affecting Credit Rating

Factors Affecting Credit Rating

Based on the increase in the questions about the credit rating, Findeks made a statement about the subject and clearly expressed how the algorithm interpreted various factors. This sharing was made in a very simple way for everyone to understand and the discussions on the subject were put to an end.

Credit and Credit Card Payment Habit (35% Impact)

Credit and Credit Card Payment Habit (35% Impact)

It is one of the factors that have the highest impact on the credit rating, whether the consumers regularly pay their debt arising from their credit and credit cards. Banks expect that credit or credit card payments will not be paid before or after the day of the loan due to the credit payments they will allocate. For this reason, by paying just in time, you can ensure that your relations with banks develop significantly.

Current Payables (35% Impact)

This factor, which had a 25% impact in 2016, was decided to have a 35% impact in 2017, and the algorithm was revised in this direction. Consumers who make credit rating inquiries can witness that their credit rating decreased due to their debts to banks at that time, and the credit rating will be positively affected as credit or credit card debts are paid and the debt volume decreases.

The most important reason for the current debts to decrease the credit rating is to prevent direct use of more than one loan at the same time and to protect both the bank and the consumers.

New Loans (11% Impact)

A newly drawn loan will affect the credit rating by 11%. The reason for this factor exists is that consumers who try to benefit from the high credit rating send credit applications to more than one bank at the same time. Although it is explained as 11% how much this factor will affect the credit rating, it is possible to witness that it has much less or much more effect depending on income.

Credit Usage Frequency (10% Impact)

How often you use banking products is very important for banks. This has a 10% impact on the credit rating, as financial awareness is created and more data is provided to the bank. There is nothing for consumers to do in order to be affected positively or negatively.

Other (9% Impact)

The most obvious factor is the other factor published by Findeks in its announcement. This factor affects the bank’s credit policy at a rate of 9% or less, depending on the credit policy, consumer savings, income, tax or SGK debt.

Which is the Most Impact

money

As mentioned above, the most effective effect on the credit rating is the payment method of the debts to the credit and credit card, the current debt situation.

In this context, trying to develop two factors in a positive way will increase the credit rating in a very short time, while negative developments will cause the credit rating to decrease in a short time.

Among the articles on our site; You can take a look at the section titled How to Avoid Problems with Banks, as it is related to the subject.

This entry was posted on February 13, 2020, in Uncategorized.

Timeout of Debts Transferred

If the debt has not been paid for 2 years, the bank sells the contract and the debts arising from the contract to an asset management company. After this sale, the institution authorized for the debt of the consumer becomes the Asset Management Company.

Asset management companies, like banks, are strictly audited by the Banking Regulation and Supervision Agency (BRSA) and their activities are closely examined. In this context, asset management companies try to collect debts within legal limits.

It is precisely at this point that the consumer has the question of whether there is a deficit related to timeout, but it is useful to state the last thing to be said that asset management companies, like banks, have a 10-year expiry period and even a small transaction in the file. It ensures that it is more than 10 years.

What Does Asset Management Companies Do?

What Does Asset Management Companies Do?

It would not be wrong to define asset management companies as a complementary operating institution of banks. In this context, thanks to asset management companies, the costs of the service that the bank needs to produce regarding uncollected debts are reduced, and a better balance sheet is created by purchasing the debts.

Asset management companies make proposals to purchase debts that banks cannot collect for 2 years and, if the proposal is answered positively, purchases the debt from the bank.

After the acquisition transaction, it communicates with the consumer for debt collection, and after this point, the consumer does not have any debt relationship with the bank, the institution to be negotiated for the debt is the asset management company.

What I Need To Know My Debt Was Transferred To The Asset Management

What I Need To Know My Debt Was Transferred To The Asset Management

There are some details that people whose debt has been transferred to the asset management company should know. Thanks to these details, unimaginably low payments can be made and the debt burden can disappear in a very short time.

Asset management companies pay very low amounts to banks to purchase debts. This payment is roughly 15-30% of the amount of debt, and therefore it will be profitable to collect more than 20% -30% of the principal debt from the consumer.

Therefore, serious negotiations can be made with asset management companies. It is useful to be consistent about bargaining and to try to reach a level where the company can be profitable. This is usually shaped after receiving a loan offer from the company, but it may be helpful to offer 35% to 40% of the current loan or to set a personal strategy.

The contract should be requested in order not to be defrauded

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It is useful to go through it over and over again, because of the people who say that he is calling from the asset management company, often victims are encountered. Therefore, instead of talking about bargaining or debt in the first call, only the contract should be requested.

You can choose not to take any action until the debt contract reaches you, or by contacting the bank, you can confirm whether the debt is actually transferred to the asset management company.

On the other hand, it is also possible to know the names of the 12 asset management companies that are operating and to confirm the call of the asset management company after the call has ended. Asset management companies operating:

This entry was posted on January 31, 2020, in Uncategorized.