Monthly Archive: April 2019

Thinking about a loan? Do you know when it can help you and when to surprise you?

We have all sometimes found ourselves in a situation where we lack the necessary finances to realize our dreams. At such moments, a loan is usually offered as the fastest and most affordable solution. Although it can help you move a little further in life, it can also pull you straight into the hot hell. Whether it is the right solution for you or not depends on what is its purpose. So when does a loan really pay off and when should you forget it?

Loan as best friend

Loan as best friend

Nowadays, few people can save several million to build or buy their own home, so it goes without saying that you can rely on a mortgage loan at such times . In addition, the value of apartments and houses has been increasing over the years, so you may even sell them back in a few years and earn some money. Similarly, with the necessary refurbishment or a new car you need to get to work every day.

The loan can also serve you well if you are considering studying or other forms of education that will provide you with a better job in the future and thus a higher salary. The same applies to other situations where you have the opportunity to improve your living conditions in the long term . But beware of business! While your intention may be good and original, the security of the loan is almost zero in such situations.

A quick online loan could also be a good solution if you need medical treatment and cannot afford it. A short-term illness could turn into a bed for several weeks without proper treatment, preventing you from going to work and thus fulfilling your existing obligations. However, keep in mind that it is better to first ask the family and loved ones who will not ask for a minimum or a minimum fee for the loan.

When do you prefer to save?

When do you prefer to save?

As a general rule, if the loan repayment period is longer than the lifetime of what you want to borrow, you should put your hands away from it. In addition, the loan should only address situations where debt is inevitable. Therefore, you should consider it only when your basic necessities are at stake – for example, when it comes to energy arrears or a broken refrigerator. On the contrary, things like bicycles, consumer electronics, Christmas gifts or a luxury holiday in the tropics are definitely safer to save.

Whether your loan is on the spot or not, be sure to check out some loan comparisons in advance to make sure you don’t sign a contract and then find that you couldn’t get a much better deal. Also, write down your monthly earnings and expenses to make sure your payment schedule suits you. And if you have several loans on your neck now, consider refinancing or consolidating them.

How Serious is a Non-bank Loan Today?

You may remember that enthusiasm when non-bank loans appeared on the market. People began borrowing money, some thoughtlessly, and their ill-considered action ended up having problems with the executor. There were many fraudulent companies on the market, and short-term loans began to resemble usury. The amendment was brought about by the amendment to the Consumer Credit Act, which has been in force in the Czech Republic since December 2016.

Changes in favor of non-bank loan applicants immediately on account

Changes in favor of non-bank loan applicants immediately on account

The amendment has tightened the conditions for non-bank loan providers. Until December, anyone with a trade license could provide a non-bank loan trufact. There were tens of thousands of non-banking companies on the market. The amendment requires each provider to demonstrate a share capital of CZK 20 million and must also obtain a license from the CNB. Companies could apply for a license by the end of February 2017, and the CNB will send them a statement within a few months. It can be assumed that the market will change significantly and non-bank online loans will be provided by reputable companies. This will be a huge relief for all applicants. They will have almost 100% confidence that they will not be caught in the clutches of the cheaters.

Even now!

Even now!

Currently, Rerum Finance sro, which offers non-bank loans without proof of income, scores. This type of loan is very popular with people with low income, the unemployed and those who simply do not have time to deal with the lengthy paperwork. Rerum provides loans online, just fill out a short online form and wait for a loan approval. This takes place within a few minutes immediately after the money goes to the applicant’s account. It is an advantage that the company has accounts in several banks, so the money will appear in the applicant’s account within a few minutes. The top offer is a fast non-bank loan of CZK 8,000 with a maturity of 21 for free. A person over the age of 18 can borrow.

Payday Loan – Unpaid Nautical Leases

 

What are the consequences for unpaid payday loans?

What are the consequences for unpaid payday loans?

Surely, these would be very unpleasant for those who find themselves in this situation that, therefore, it would be better to avoid. Meanwhile, it is important to know that nautical leasing is regulated by the Italian regulation of the Pleasure Nautical Code (Legislative Decree 18 July 2005 n.171).

Nautical leasing is a very advantageous solution as it is extremely flexible and allows you to define installment and amount from time to time based on your specific needs. Furthermore, law n.342 dated November 21st 2000 established special tax breaks for nautical leasing.

Payday loans, in short, are loans intended for the acquisition of boats, both sailing and motorized, for pleasure boating. They can be new, used or built ships. All boats destined for pleasure boating can therefore be purchased on leasing with indexed or fixed rate financial plans.

Often, it can happen that the banks for the concession of the nautical leasing ask the companies to subscribe clauses that, in the case of loans, foresee that the companies themselves buy back the boats.

At the moment when the decision is taken to start a nautical leasing contract with a bank, therefore, one commits oneself to all that the contract foresees as regards the exits. If the leasing contractor decides to return the asset to the company, the difference between the sum of the fees still due less the amount that the leasing company obtains from the sale on its own account of the asset is paid.

In the case of leasing unpaid boats it is therefore always advisable to remember that all leasing contractors are jointly and severally liable with all their assets, unless it has been established differently from the beginning.

In essence, therefore, leasing is a bit like a mortgage and, consequently, the contracting party undertakes to pay the full value of the purchased good at the time of stipulation. If there were unpaid payday loans, therefore, the asset would be substantially returned to the company which, at that point, will be free to sell it even at a price lower than the residual amount of the rent (the difference will be charged to the defaulting company).

Make big savings on your loan insurance

 

The free choice of borrower insurance!

The free choice of borrower insurance!

The MURCEF (Urgent Measures of Economic and Financial Reforms) Act has already been denouncing since the end of 2001 that a bank is systematically trying to link a loan it grants to a borrower, to a mortgage loan insurance that it markets to itself. even. Unfortunately until now, this association was in place and imposed by the banks and this was very often the condition to be granted a credit.

The Legarda law says stop this use considered abusive by allowing the competition to position itself and offer offers to future borrowers. Thus, the future borrower can now look for loan insurance that will allow him to obtain the best guarantees at the best price before contracting his loan and do what is called a delegation of insurance.

If the bank refuses to accept this insurance to which the borrower has subscribed on his side, it must make a written to the borrower, stating clearly why this insurance is refused.

What does the Legarda law change for the future borrower?

What does the Legarda law change for the future borrower?

For a loan contracted by borrowers with a profile presenting no particular risk, the Legarda law now allows them to subscribe to the insurance of their choice through the delegation of insurance and to play the competition, without necessarily having to subscribe to the assurance that the lending institution offers them. Provided however that the level of guarantee offered by this insurance is equivalent to the level of guarantee offered by the insurance of the body that grants the credit.

For a loan contracted by borrowers with an aggravated health risk, or an aggravated sports risk, the Legarda law does not change much because the banks do not provide this type of profile. These borrowers must already have resorted for years to insurance delegations via independent insurance companies to insure their loan.

The Legarda law imposed obligations and rules for loan insurance

The Lagarde Law imposed obligations and rules for loan insurance

Since July 1, 2009, when the borrower goes to see his bank to make a credit, the latter must provide him with a standardized information sheet relating to the guarantees they require for loan insurance.

When subscribing to a mortgage, the bank that finances the project will no longer be able to “refuse as collateral another insurance contract when this contract presents a level of guarantee equivalent to the group insurance contract (= the one of the bank granting the loan) “.

In case of refusal by the lending institution in front of the individual insurance presented by a future borrower, the bank must then mention to the latter in writing, the reasons for its refusal.

Finally, the Legarda law specifies that “the lender may not modify the loan rate conditions provided for in the offer […], whether fixed or variable, in consideration for its acceptance as security for a loan. insurance contract other than the group insurance contract he proposes “. In other words, this means that the bank will not be able to offer a more advantageous credit rate to a borrower if the borrower subscribes to his group insurance.