Remember that the consumer loan will be repaid

 

It is easy to forget the consequences of taking out a consumer loan when you are in the store and have such a terrible desire for the latest mobile phone or handbag, but you may want to take a step back and remember that the loan sooner or later must be repaid. See selfservebacklinks.com of critique.

Do you really need the loan?

Do you really need the loan?

It is easy to say for yourself that it is good to take out a loan when you stand there and have a terrible desire for a thing. Then you may want to take a little time-out and ask yourself if you really need to buy this thing that you so desire. In most cases, the answer is probably no, and it is rare that there are any good, economic arguments for taking out a consumer loan.

A good rule when you really want to buy a thing is to postpone your purchase for a week or two. Then you will have an opportunity to think carefully and consider whether this is really a necessary purchase. Of course, this does not apply if you need the money for something critical, such as a car bill on the car or to pay the dentist to fix the teeth you got knocked out, but in most cases a consumer loan goes to what we might term as luxury consumption, and then You may want to think about it an extra time or two before deciding to take out a loan.

Make a proper calculation

Make a proper calculationMake a proper calculation

Before deciding to take out a consumer loan, you should make a proper calculation of what the loan will actually cost you. The banks like (of course) to make the loans as affordable as possible, but in practice they are often much more expensive than the first impression. Keep in mind that the nominal interest rate you receive on the loan varies based on your financial situation, while the examples of loan costs that the bank shows you in their promotional material are often based on the bank’s most affordable interest rate. In other words, there is no guarantee that you will get the same interest rate, so it is extremely important that you do your own calculations so that you know exactly what the loan will cost you.

First installments are due quickly

First installments are due quickly

When you take out a consumer loan, the first installment will normally expire in the month after you receive the loan. Some loans allow for one or more installment-free months during the year, but this usually requires you to pay down the installment for a minimum of 6 months first. In other words, you cannot take out a consumer loan and take out installment-free months right from the start.

It is expensive to have bad advice

It is expensive to have bad advice

A consumer loan is expensive, and almost no matter how you turn it around, consumer debt will have a negative impact on your finances. Not only do you have to pay off the loan each month, you also reduce your financial freedom because you increase your debt ratio, and you are thus more exposed to something unforeseen, such as losing your job or getting sick.

Credit for temporary workers – different providers

More than 200 domestic and foreign banks are authorized in Germany. Most of them include private installment loans in their product range. Although the conditions for granting an installment loan are almost identical across the industry, the conditions vary greatly from provider to provider. A comparison of the different providers can save the borrower larger amounts of money.

What are the conditions for a temporary worker loan?

What are the conditions for a temporary worker loan?

Temporary workers generally belong to a group of consumers who find it difficult to get a personal loan. However, it is not impossible to get a loan for temporary workers. The approval depends on several factors. An important point is the information from Credit Bureau, where more than three quarters of all German citizens are recorded. Not only current financial liabilities are registered, but also payment behavior. For example, paying bills late and after several reminders can result in a negative entry at Credit Bureau. Conversely, if the Credit Bureau information is positive, the chances of approval of the loan request increase significantly.

The type of employment is also important. To approve a loan, it should be open-ended and have been with the same employer for a minimum period of one year. It is of secondary importance whether the employer is a temporary employment agency or another employer. The amount of income is also decisive for the approval of a loan. This is an expression of the borrower’s creditworthiness (solvency). As a rule of thumb, a monthly income of around 900 dollars is the minimum requirement to apply for a loan for temporary workers.

What are the alternatives?

What are the alternatives?

If the applicant offers collateral, the chances of the loan being approved increase considerably. Banks accept shares, securities, insurance policies, real estate, certified precious metals or antiques as collateral. The value of the collateral must be greater than the loan amount. Another alternative is a guarantee. The applicant for a loan for temporary workers finds a third person who signs the loan application. If the applicant is no longer able to pay the installments due, the guarantor takes over. The guarantor must meet the minimum requirements for the granting of a loan.

What Are Consumer Loans

Become a Customer Journey Expert (m / f) product strategy for consumer loans in Frankfurt. Consumer credit remains an important source of income for most banks. Years of experience with consumer credit.

Investigation: consumer credit The Market Guardians

Investigation: consumer credit The Market Guardians

At the end of 2017, the Market Guardian Finance institute of the Consumer Center Saxony, responsible for banking services and consumer credit, conducted a survey on the use of credit by German consumers. Different types of consumer credit should be considered in order to examine consumer experience and the conspicuous problems. The representative online survey of market observation experts shows that around two thirds of internet surfers have used at least one type of consumer credit in the past five years.

The current account overdrafts of the current account, which are mostly cost-intensive in practice, with 29% and the credit limit of the card with 26% are the most frequently used types of credit in Germany. All results and backgrounds are explained in detail in the report. Consumer credit survey method profile: Collection of an online panel using a standardized questionnaire. Sample size: n = 1,055, sample description: Substitute sample for German-speaking web users aged 18 and over.

consumer credit

consumer credit

The following overview shows our consumer credit exposure, consumer loans that are at least 90 days past due, and the net credit costs. The portion of the information about loans that are 90 days or more past due and the net cost of credit is expressed as a percentage of the total exposure. Consumer credit exposure in Germany: The total volume of our consumer credit exposure rose in 2008 compared to the previous year by $ 4.1 billion (5%).

This increase results from an expansion of our international portfolio (by 3.5 billion dollars) with strong growth in Italy (1.5 billion dollars), Poland (1.0 billion dollars) and Spain (611 million dollars) as well as domestically ( 635 million dollars). The percentage of net financing costs in total exposure increased in relation to 2007, reflecting our expansion strategy for higher-margin consumer credit business and the deteriorating credit conditions in Spain.

The increase in net financing costs in Germany is due to consumer financing and was only partially offset by a decrease in the proportion of real estate financing. Abroad, the decline in net financing costs was primarily due to the outside economic crisis in Spain, which weakened there on our loan portfolio and on our business with private finance in Italy and Poland.

The increase in the proportion of loans from overdue loans outside of Germany results primarily from our real estate financing in Spain.

Credit for dental bill – ongoing insurance

When financing crowns, bridges and implants, there are three very different financing options, which differ in terms of term, costs and contracting parties. Of course, you can also pay the dentist’s bill as normal from current income or with the overdraft facility, but the latter causes comparatively high costs. Therefore, read more about loans to be granted once or an ongoing insurance contract, the so-called dental supplementary insurance.

Comparatively new: the financing mediated by the dentist

Comparatively new: the financing mediated by the dentist

If you want to take out a loan for a dentist’s bill, you usually only think of classic bank financing. However, many dentists offer the possibility to finance the additional payments after they have been arranged through a billing partner or his bank! This billing service provider, who otherwise only bills the portion of the cash benefits and sends you an invoice for the remaining amount on behalf of the dentist, also takes care of the financing after the patient’s credit application. The advantage is treatment and financing almost from a single source.

The classic installment loan as financing

The classic installment loan as financing

Thanks to the introduction of Internet comparisons and the computer-aided calculation of loan offers, smaller amounts of credit from many providers of $ 1,000 or 1,500 are now possible. This means that there is nothing standing in the way of financing the dentist’s bill through a normal bank loan. The interest rate is then calculated as for any other use and the loan amount is transferred to the borrower. However, we recommend that the terms should be as short as possible, because you want to pay off a loan with a longer term for something more pleasant than the dentist’s bill! A disadvantage of this loan for dentist bills could be the long-term business relationship between dentist and billing service provider, which may not motivate you at the best possible interest rate.

Indirect financing: reduction of the additional payment

Indirect financing: reduction of the additional payment

Over the years, the scope of statutory health insurance benefits has been reduced as part of the privatization of risks. This can make dentures really expensive, especially if you want to opt for high-quality dentures. The additional payments for a filling can be in the three-digit range, crowns and implants often add up to four-digit amounts. If you do not want to finance every single denture yourself, you can minimize your own additional payments in the long term through dental insurance. He pays a fixed monthly contribution for each dentist’s bill after a waiting period in the future, so that this monthly and staggered monthly contribution replaces the credit for dentist’s bill.

How to apply for home renovation loan.

Apartment renovation may be necessary for various reasons. According to the tenancy agreement, tenants are often obliged to renovate after moving out or before moving in. Landlords and homeowners are renovating apartments to preserve the value of a house. In some cases, renovation requires little work, the cost of which can be met from current income. For a comprehensive renovation of an apartment, however, it is regularly necessary to take out a loan in view of the high costs.

Promotional loans from Intrasavings bank

Promotional loans from Intrasavings bank

If owners associate an energy-related renovation with the apartment renovation and achieve significant energy savings, they are entitled to cheap promotional loans from the Intrasavings bank. The corresponding applications are made via a commercial bank to be selected by the owner. In addition to the long-term offer of energy technology renovation, Intrasavings bank regularly offers other programs, so that it is sensible to visit the development bank’s website before starting to renovate an apartment.

Home loan and regional bank loans

Home loan and regional bank loans

A home loan can also be used for renovation, in addition to buying or building buildings. It therefore makes sense to conclude a new home savings contract after purchasing the property and to use its home savings sum for later renovation measures. In addition, local Agree banken or Cream banken and savings banks offer cheap loans for construction measures. The only prerequisite for obtaining a discounted loan for an apartment renovation from the local Agree bank or Cream bank is that local craftsmen be commissioned to carry out the renovation in practice.

This makes sense anyway, since companies who travel from far away charge high travel costs. A savings bank or Agree bank or Cream bank grants the discounted renovation loans both to owners and to tenants obliged to renovate their old or new apartment. However, anyone who buys the materials in the hardware store and works as a handyman will not receive a discounted loan for home renovation. In this case, tenants need to take out a normal consumer loan, while property owners can take out a cheap home loan for home renovation.

The corresponding real estate loans are paid out by most banks for small loan amounts without an entry in the land register. Most renovation measures cost significantly less than ten thousand USD, the limit for insignificance is 30,000 or 50,000 USD depending on the bank. Before owners or tenants take out a home renovation loan, they compare offers from several banks. In addition to the effective annual interest rate, the ability to make special repayments without prepayment penalty is a criterion for choosing a lender. If tenants take out a loan for a home renovation, they ideally combine it with a moving loan, so that only one borrowing is required for the renovation, the actual move and the furnishing of the new apartment.

Loan with temporary job – Compare loans online

When answering the question whether a loan with a temporary job is possible, various factors have to be taken into account. It is particularly important whether the temporary job is permanent or only temporary. In addition, it would not be advantageous if a self-employed activity is carried out or if the Credit Bureau information shows negative entries.

Compare loan offers

Compare loan offers

People who do a temporary job often earn very little money. Should it still be possible to grant a loan, the loan amount will be limited to a few hundred or a few thousand USD. In this case, we speak of a small loan. It can be issued by the house bank or another branch or direct bank.

When comparing loans, you should not only pay attention to the term and the amount of the monthly loan installments, but also to the debit interest. They can be credit-dependent or credit-independent. Interest independent of creditworthiness is generally more suitable for a person with a temporary job. The only exception is if the creditworthiness is assessed as very good or excellent. In the case of a temporary job, however, this should only be the case if additional security is available.

Disposable loans

Disposable loans

If the Credit Bureau information is in order and the monthly salary is regularly credited to the account, the bank can grant an overdraft facility to the checking account. The amount depends on the income. A maximum of two to three months’ salary is possible. An overdraft facility has the advantage that it can be used in whole or in part at any time and repaid flexibly. The bank doesn’t care what the temporary job credit is used for.

installment loans

installment loans

A loan with a temporary job can not only be an overdraft facility, but also an installment loan. If the personal creditworthiness is insufficient, the bank can call in a guarantor or a co-applicant. A person who is suitable for this must have enough money to stand in for the monthly loan installments if necessary, without neglecting their own financial obligations. If available, other collateral can also be provided. For example, a security deposit, a larger cash asset, a lendable capital life insurance or a debt-free property could be considered. The bank makes a final assessment of the creditworthiness.

Loan for low earners.

Everyone comes into a position once in their life that they run into financial difficulties. This can be suitable for various reasons, including low earners. The situation is special here, because they only have a certain salary, which often does not smell to pay all important bills.

In the past, insurance was taken out or a loan was taken out. If another job is pending where less money is being earned, insurance or loan payments are often left behind. In such a case, it is not uncommon for a low-income loan to be taken out.

Not always easy to find a bank

Not always easy to find a bank

As a low-income earner, it is not always easy to find a bank that lends to low-income earners. This is simply because the income should always secure the loan, but it is simply too low for low earners. It can therefore quickly happen that the loan installments cannot be repaid and the bank cancels this. It is not easy, but it is not impossible to apply for a loan. It is up to the borrower to improve his status so that a contract can still be concluded.

What should be done if the credit rating is poor?

What should be done if the credit rating is poor?

Those who have poor credit ratings, as is the case with low earners, must improve them with their own resources. It is important that there are no negative entries in the Credit bureau. In addition, the creditworthiness can be increased if a guarantee exists. A guarantee means that a person has to agree to guarantee the loan. In an emergency, he has to pay the installments for the low-income loan if the low-income cannot do it himself.

If no person is found, other collateral can be taken. This includes a life insurance policy, the surrender value of which can cover the loan or a property. This should only be used in extreme emergencies, because if the credit conditions are not met, the property will become the property of the bank.

Credit conditions

Credit conditions

If a bank chooses to give a low-income loan, it will only be a small loan. This small loan often only has a loan amount of a maximum of 2,000 USD and must be repaid in a short term. Interest rates will be higher than with normal loans due to the increased credit default risk. If you want to buy a new television, you can also take out a loan from a mail order company.

Payments can be made here and the creditworthiness is not checked. However, should it come to the fact that the sum will not be repaid, the bailiff is warned at the door. Thus, the loan should only be taken out if it is really important. A television or a trip are not included!

Loan for self-employed without Credit bureau.

Taking out a loan as a freelancer or self-employed person from a bank is associated with some difficulties and in most cases only possible if the applicant has been a customer for a long time. However, many house banks put obstacles in the way of self-employed people, which means that the risk of default is not in the applicant’s favor.

It becomes particularly difficult when the applicant has an entry with credit bureau. In this case it is as good as impossible for you to get a loan from the house bank. Thanks to the Internet, the range of loans has expanded in recent years, so that loans for self-employed people without credit bureau have become possible.

How can you get a loan as a self-employed person?

How can you get a loan as a self-employed person?

Collateral is also important for the self-employed. If there is property or other valuables that can be used to secure the loan, the prospects for a loan are the best. Another requirement is that you have been self-employed for at least two years. It is also very important for the self-employed to have a current company account.

If this turns out to be positive, the chances for loans for the self-employed without credit bureau are not bad at all. Loans without credit bureau are mostly offered from Switzerland. The fact that banks from abroad refrain from providing information at credit bureau is because this institution is only available in Germany.

So-called credit intermediaries can help in arranging loans for self-employed persons without credit bureau via the Internet. They have generally been active in this area for a long time and know the banks with the best offers. This means that the loan seeker does not have to struggle through the offers alone. When using this service, however, it should be ensured that this borrower is independent, so that all offers are taken into account.

What to do if a direct bank does not work?

What to do if a direct bank does not work?

Even direct banks offer no guarantee that loans will be granted to self-employed people without credit bureau. If there is no bank that grants money in the respective case, there is still another way to get money for upcoming projects. One of these is a personal loan, where private individuals who have money at their disposal lend it on good terms.

On the corresponding websites, loan seekers can describe their projects as well as the loan amount and the desired conditions. If this is of interest to donors, they can make an offer. If this is accepted, a loan is concluded. The processing then takes place via a bank. The loan must then be repaid in monthly installments. This option also enables loans for the self-employed without credit bureau.