What Is A Debt Consolidation Loan -W4gkr.Com / Wed, 04 Dec 2019 13:38:58 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 Debt consolidation loan -What is debt consolidation finance /direct-consolidation-loan-forgiveness/ /direct-consolidation-loan-forgiveness/#respond Wed, 04 Dec 2019 13:38:58 +0000 /?p=215 In the current general economic scenario, recourse to debt has reached high levels: there are many families (and companies) for which the balance of the monthly installment now creates many problems. Often these difficulties derive from the fact of having turned on various loans in the past, perhaps in the context of a different and more appropriate financial situation that allowed indebtedness.

The conditions have changed, they have become worse due to the economic crisis and, sometimes, due to exceptional events such as the loss of work, it may happen that the commitments taken at one time cannot be, in part or at all, more honored. It is a reality, but solutions exist. Indeed, in recent times the so-called “debt consolidation” has firmly entered, and for many reasons, among the many financial products offered by the banks.

What is debt consolidation finance

As just mentioned, it is a financial product offered by¬†https://consolidationnow.com/what-is-debt-consolidation/ that serves to settle previous debts due to loans opened previously, often with a different credit or financial institutions. Technically it is a loan aimed at “consolidating” debts and, more generally, at rescheduling a specific (and overall) debt situation.

Given the considerable number of cases of “over-indebtedness”, the product has been very successful, also because it is very appreciated by the same credit institutions which, in fact, often offer it to their current account holders. The reason behind this trend of banks (and financial, even specialized ones) to advertise debt consolidation is soon said: given that the product makes it possible to extinguish financing also with other financial institutions, allowing a customer to compete with accessing a debt consolidation program often translates into acquiring new customers.

How Does Loan Consolidation Work?

Consider first of all that the complete re-discussion of past debts becomes a mandatory requirement of any person who has contracted more financing when the sum of all monthly installments is too high in relation to revenue. If you realize this, it is good to say a couple of things: the first is that it would have been better to realize it first; the second is that we can no longer wait. In some cases, it would not have been bad either to have been more transparent towards the credit institution of confidence in its own financial situation since, perhaps, the proposal to settle the debts in time could have arrived from the same bank manager.

However, it is quite clear that the first thing a person in difficulty needs is to make their monthly deadlines lighter. This is possible, now it is no longer a secret, proposing a loan to repay all debts to one’s bank of trust (or not necessarily to it). There are actually other reasons that can push someone to apply for debt consolidation. Having to deal with several credit institutions, and maybe even some financial institutions, is certainly something completely different from having a single contact for all the deadlines. The latter will surely be a trusted institution with which a certain type of relationship is maintained, different from the one that can be entertained with other creditors, perhaps already worn out as this happens when certain financial problems begin to appear with a certain continuity.

That said, there is no doubt that the reduction of the total amount to be paid monthly remains the most important motivation when a debt consolidation loan is requested. The operation, on the other hand, is not particularly complex since, usually, to obtain this reduction the direction is to lengthen the repayment times of the new loan. In practice, the bank will proceed as follows: it will provide the customer with a new loan with which all creditors (banks or financial institutions) will be paid while proposing at the same time more time for the return of the new loan. In this way, the only installment to be paid will be less than the sum of the individual deadlines that concerned the old loans.

Resolution for a Consolidation Debt

Naturally, in order to approve a consolidated loan, the bank will follow the same procedure regarding any other type of loan, particularly in relation to the financial reliability of the applicant and his income. A credit institution, in fact, cannot endorse situations of financial risk in terms of loans: insolvencies are on the agenda and the customer who requires a debt consolidation (like the one that requires any other type of loan or mortgage) must demonstrate their solvency and their ability to meet the installments. The above means a couple of things. The first is that the applicant must have an income level that allows the loan to be safely repaid.

In this case, the bank can, if necessary and if possible, also decide to extend the duration of the loan up to the maximum allowed, in order to obtain a sustainable installment with the monthly income of his client. The second thing is that the credit history of the customer, which results from the reports of the Risk Centers, must not present critical issues. This aspect of the possible registration of the customer to the CRIF is absolutely decisive for the purposes of granting any form of financing: if the applicant had in the past problems relating to any type of loan, or has had unpaid debts, his chances of accessing any type of credit is practically zero.

To be fair, there is a possibility linked to the so-called “cession of the fifth”, a solution that is often proposed by financial institutions when problems arise related to the figure of an applicant who is a “bad payer”. The transfer of the fifth, as we know, is a form of loan guaranteed at the source, in the sense that the payment of the installment to be paid takes place at the employer’s or at INPS in the case of pensions. The loan, in this case, can always be paid provided, of course, that the income parameters are respected.

Wondering if a debt consolidation loan is expensive or not is important. In general, it should be borne in mind that this type of financing is more expensive than purchase mortgages, while it certainly has lower rates than those of a simple personal loan. Furthermore, it could be interesting to find the financing for debt consolidation more convenient by comparing the estimates of several credit institutions: getting an idea about it, on the other hand, is not very complicated today thanks to the many online sites that deal with, in fact, of debt consolidation.

Debt consolidation, being an operation that appears to be necessary for the client in difficulty, is sometimes wrongly interpreted as a “favor” made by the bank to the customer. This distorted view of the ” debt consolidation ” product makes us lose sight of the true objectives of banking institutions when they promote the spread of this type of financing. It is true that the debtor sees the resolution of his problems with the rescheduling of his deadlines.

However, no bank has any interest in keeping the customer in a perpetual state of “insolvency risk”. The risk assessments by the banks are the basis of all their decisions on the various financial transactions and their possibilities to generate profits. To give a practical example, if a bank decides that loan repayment times can be extended, it certainly does so for good reason: its client gains a certain advantage by being able to count on a sustainable installment, while the bank has transformed a customer at risk of insolvency in a reliable one. With all due respect to all those involved, and advantages from both sides.

Steps to follow for Debt Consolidation

The procedure for obtaining a loan for debt consolidation, albeit similar to that for the request for a normal loan, has its specific features. In particular, in addition to the documentation normally requested (first of all, in terms of importance, income), all the authorizations for the extinction of the loans in progress must be delivered to the bank with the related extinguishing counts. Without these last documents, it will be impossible for the bank to proceed with the closure of all existing loans.

If the income capacity allows it, and if the bank’s client needs it, it can also be requested, with the new loan, a higher amount than the verified debts, so that it remains in the applicant’s availability additional liquidity. Very often it happens that one of the loans in progress, which will then become the subject of debt consolidation, is actually a mortgage for the purchase of buildings.

In this case, it is clear that the mortgage turned on to guarantee the original loan necessarily remains in place. As you know, however, the mortgage cannot be transferred from one bank to another (except in the case of mutual subrogation), so the best way to follow for the debit is almost one-way: to apply for debt consolidation (which, in this case, takes the name of loan for debt consolidation ) to the same bank that had provided, at the time, the first mortgage and that finally remains the beneficiary of the guarantee represented by the mortgage itself. Otherwise, the way to get the new loan could be very tortuous, or impossible.

In special cases, finally, additional guarantees may be requested for the purpose of completing the practice of a debt consolidation request: for example, starting another mortgage, perhaps on a second home, or signing one or more guarantors to guarantee the regular balance of the installments. However, remember that, in any case, the real problem to be solved remains that of the applicant’s earning capacity and the quality of his credit history.

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Apply for an online loan and get an answer right away. – Apply for a mini-loan /apply-for-an-online-loan-and-get-an-answer-right-away-apply-for-a-mini-loan/ /apply-for-an-online-loan-and-get-an-answer-right-away-apply-for-a-mini-loan/#respond Wed, 27 Nov 2019 04:16:34 +0000 /?p=120

If you would like to borrow a medium to large amount of money in a simple way, you can opt for an installment loan. The great thing about an installment loan is that you pay off a piece of the outstanding debt every month. As a result, the remaining amount becomes smaller and smaller, which also reduces the risk of default or loss for the bank. This is interesting for both parties because in this way the cost price can be considerably reduced. If we compare the price tag of an installment loan with, for example, a revolving credit, we see that the first one is much and much cheaper.

Personal loan or installment credit

Personal loan or installment credit

A personal loan or installment credit can also be requested fairly easily due to the above. You do not have to take into account strict conditions and the duration can also be set aside for a relatively long time. With the help of the installment loan you can borrow a lot of money for a large purchase or an investment, but also when you just need some extra money this form of credit usually offers you a great solution. One thing is certain: if you want to borrow money as cheaply and safely as possible, then an installment loan is undoubtedly a must for you.

Calculate your loan online.

Calculate your loan online.

It is almost hard to believe in this modern age, but there has indeed been a time when you as a borrower were required to pay a visit to the bank to find out exactly how your loan would look. Nowadays this is no longer necessary and you can easily request all this information from your lazy chair. Calculating a loan online is really child’s play and perfectly possible for every form of credit on the financial market. Note that when you are going to calculate a loan online, it is very important to do this with an objective party. A subjective calculation is actually relatively worthless.

In fact, there is nothing to stop you from calculating a loan online. When you calculate a loan online you can decide for yourself whether the loan in question is suitable for you or not. If that is not the case, just continue searching. Calculating a loan online does not entail any direct obligations and you do not have to pay any money for it. If, in addition to a calculation, you would also like to immediately perform a comparison, it is better to use a comparison site. Such a website is well-arranged, up-to-date, reliable and also very objective.

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Credit Loan /credit-loan/ /credit-loan/#respond Mon, 18 Nov 2019 04:18:14 +0000 /?p=102

Borrowing money has become very normal in today’s society. Incidentally, that is not only the case now. It happened already centuries ago. There are many reasons why you can borrow money. Most people borrow money to buy a house or to renovate their house, for example. Money is also often borrowed for starting your own business. In addition, it is often possible to borrow smaller amounts. This is possible, for example, by means of a revolving credit or by using a credit card. In addition, you can take out a personal loan with many companies or banks. Do you want to get rid of it over time? Then you can refinance the loan.

Repay the loan

Repay the loan

Transferring a loan? Before this is explained, it is important to look at how to pay off a loan. You borrow a certain amount that you must, of course, return. However, interest must also be paid on the loan amount. That is namely the money that the company or bank earns from you. Usually the interest rate prior to the loan is determined for the entire term, so you know exactly how much it will cost. However, the problem is that interest rates often change, which means that a much cheaper loan provider can come onto the market during the term. It is of course a shame if you continue to pay according to your old rate.

What is refinancing a loan?

What is refinancing a loan?

It is becoming increasingly common for people to take over a loan. You also buy the loan with a new loan. This is possible with the same provider, but usually with a different lender. You can also transfer multiple loans into one new loan. The latter happens regularly because the interest with a higher loan is often much cheaper. It is therefore better to have one loan of 10,000 euros than five of 2,000. Transferring a loan is in many cases a sensible and especially advantageous solution when paying off your loan can be much cheaper than it is at the moment.

Why refinance a loan

Why refinance a loan

But why exactly should you refinance a loan? What are the main reasons that people do this and what are the benefits of refinancing a loan? The main reason has just been mentioned: it is cheaper. The interest rate may change during the term of your repayment, making taking out a new loan with another lender much cheaper. Another reason is that people are not satisfied with the term of the loan and want to shorten or extend it. If you opt for a shorter duration, you save money because you pay interest over a shorter period.

How can you refinance a loan?

Transferring a loan is very easy. Once you have found a new provider, you can arrange everything with this provider. They therefore ensure that another loan is paid off. Do you want to reschedule your loan but you do not know exactly how and what? Even then it is fortunately not that complicated. There are different websites on the internet where you can compare all loans. That way you also see whether it is beneficial for you to take out the loan. You can immediately see whether your monthly payments go up or down and how the interest rate of the new loan relates to the interest rate of the old loan.

If the new loans are cheaper, it is advisable to request a quote from multiple providers. You can then compare these quickly and efficiently with regard to costs and conditions. Then you make a choice yourself. Most lenders pay off your loan and then transfer the remainder to your account.

Can you retake every loan?

Can you retake every loan?

There are of course many different loans. But can you actually refinance every loan? The answer to that is basically yes, although with one loan it takes a bit more effort and money than the other loan. Whether it concerns revolving credit, the debt on a credit card, the overdraft on your bank account or a personal loan: you can transfer any loan. You can even completely refit most loans without penalty. However, this is not always the case with a personal loan.

Transferring a personal loan can sometimes result in a fine. It differs per provider whether this is the case and how high the relevant fine is. All information about this can be found in the loan agreement that you have concluded with the company or bank where you initially borrowed the money. Incidentally, it may be good to remember that the fine may never exceed 1% of the amount still to be repaid. Therefore, the penalty for refinancing a loan can never become extremely high. Even if you have to pay a fine, transferring your loan is sometimes even cheaper.

Can anyone take out a loan?

Although in principle everyone is able to take out his or her loan, it works the same as when you first take out a loan. Of course, a lender wants to know who they are dealing with. You will therefore be assessed whether you are eligible. This includes looking at what you earn and what your expenses are. People also look at your personal situation. For example, whether you are married and have children. Finally, you also look at your payment behavior with your current loan (s). Do you want to refinance a loan but not receive an extra amount? Then the chance that it will be accepted is already a lot bigger. This is because globally the same conditions apply to lenders.

Do you want to transfer a loan or not?

Do you want to transfer a loan or not?

For many, the question remains as to whether or not they should do it. Everything therefore depends on the situation. If the interest rate has actually fallen so much or if you can take out a loan with another lender that better suits your situation, it is always advisable to do so. Certainly do not just be put off by a fine, since you have often earned it back in a few months.

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Instant loan today still /instant-loan-today-still/ /instant-loan-today-still/#respond Mon, 18 Nov 2019 03:51:34 +0000 /?p=158

Who would not like to go shopping without even thinking about the money? Or just treat yourself to something that the wallet otherwise does not give? Banks have come up with a suitable offer for this clientele. These banks, which are predominantly located in shopping malls and inner cities, promise their customers an instant loan today, ie a direct-lending loan.

The application is extremely simple, it is sufficient to submit the last three pay slips to the bank, a short moment to wait for the request of credit bureau, and already the money can usually be taken in cash. These loans for immediate take-off are usually micro loans and small loans in the range of 500 up to 1500 USD. Who needs a larger amount, can apply for it over the Internet.

Here, however, only one bank, the Astro Bank, offers its customers a loan with the yes loan, which is transferred to the account of the borrower on the same day by flash transfer. With a yes loan, credit amounts of up to $ 20000 are possible within one day. In both variants, in the bank or online via the Astro Bank, the positive information of the credit bureau is the decisive criterion.

How can you get an instant loan today?

How can you get an instant loan today?

For amounts up to 1,500 USD, it is sufficient to include his last three pay slips and visit the nearest bank branch, which advertises with an instant loan. The loan application can then easily be completed in the store together with an employee. To clarify here are primarily the repayment modalities, ie in what installments the borrower wants to repay his loan and how it is interest.

Once the loan agreement has been completed, the bank employee checks the credit bureau information briefly, which is the decisive criterion here, and if this is positive, the customer can usually take his money directly in cash. The application for such a microcredit so short and painless in the bank branch. If you would like to have a larger amount, you can apply for the yes credit of Astro Bank online.

Here it is sufficient to complete the completed application online and send it. The Astro Bank checks this immediately and approves this immediately in case of a positive credit bureau. Anyone who applies for a loan this morning can still avail of the instant loan today, Astro Bank offers its customers the flash transfer within one working day for a small fee.

The conditions

The conditions

Anyone who still wants to receive an instant loan today must expect a slightly higher interest rate. Of course, the interest on an instant loan is creditworthy. As a rule, interest rates are between 5.99% and 12.99% APR. Incidentally, the Astro Bank does not charge any processing fees and closing fees for its yes loan, but a small fee for the use of the lightning transfer is due.

Instant loans are generally slightly higher interest rate than regular loans, who also wants to get his instant loan still today, the must take a little higher expenses in the end, the financial institution renounces tedious review processes. Anyone wishing to have their instant loan paid out today must in any case apply for it in the morning in the case of the online application, only then can the bank guarantee the lightning transfer until the afternoon.

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Creditworthiness – what is that? /creditworthiness-what-is-that/ /creditworthiness-what-is-that/#respond Wed, 13 Nov 2019 00:24:43 +0000 /creditworthiness-what-is-that/

You are finishing studies, starting an independent life and want to buy an apartment. Where to get the money A thought immediately comes to mind – from the bank! So you go there, but your creditworthiness will largely determine whether or not you will be granted a loan.

What exactly is this ability?

This is nothing more than checking whether the borrower has the option of paying off the loan with interest that he plans to take, within the time limit provided for in the contract.

To assess its client’s creditworthiness, the bank performs an analysis of that ability. Whether the borrower receives a loan will depend on the result of this ‘study’.

Generally, each bank has a different method of checking whether a customer can cope with timely repayment. Thus, the creditworthiness of the borrower may vary in other banks. Where to get the money A thought immediately comes to mind – from the bank! So you go there, but your creditworthiness will largely determine whether or not you will be granted a loan.

The analysis of creditworthiness


Consists in the bank comparing revenues with expenses on a monthly basis. The purpose of this comparison is to be able to determine whether, during the period in which the borrower was analyzed, there was a cash surplus that could potentially be used to pay back even the first installment of the loan.

The bank will probably be tempted to check whether the borrower is married, ask about age, education, number of years worked. 

It should also be borne in mind that for a financial institution that grants a loan, it is also important whether the potential borrower has a legal source of income, e.g. an employment contract or own business.

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Calculate your loan online with a loan simulation – Mini Loan Request /calculate-your-loan-online-with-a-loan-simulation-mini-loan-request/ /calculate-your-loan-online-with-a-loan-simulation-mini-loan-request/#respond Mon, 11 Nov 2019 03:28:23 +0000 /?p=112

If you want to take out a loan, it is important to calculate how much money you can borrow. In addition, it is also important to calculate what your (monthly) expenses will be. For both you and the lender it is important that you borrow money responsibly and therefore do not borrow too much. There are, however, various loan forms. A number of well-known types of loans are the personal credit, the mortgage loan and the car loan.

You should also take into account the difference between the variable interest rate and the fixed interest rate when taking out a loan. Of course, borrowing with a fixed interest rate offers more certainty, because with a variable interest rate you do not know how the interest rate will develop. Because there are different lenders active in the Netherlands, it is wise to request different quotes. That way you know for sure that you don’t pay too much for your loan. Incidentally, it is very easy to calculate the maximum amount of the loan with the different lenders.

It is important to properly calculate the monthly costs associated with the loan. Of course you do not want to get in trouble with paying off the loan and paying the interest. It is therefore important that you do not borrow too much. It is very easy to put on paper your monthly income and expenses and to determine how much you can pay each month in repayment and interest. Consider also how much time you want to pay off the loan. For example, if you take out a loan with a repayment period of 20 years, you will be stuck with the loan for a long time. The amount of interest often varies between the different lenders. Therefore, also compare the level of interest between the various lenders.

Do you want to calculate a personal loan?

Do you want to calculate a personal loan?

A personal loan is usually used for a specific purpose. This can, for example, be the purchase of a new kitchen. You can calculate a number of things on the loan from these providers. For example, you can calculate the maximum amount of the personal loan. You can also calculate the installment amount. By the way, did you know that many more things are important if you are going to purchase a personal loan? For example, in addition to calculating the loan that is most favorable in your case, it is also advisable to look at matters such as whether or not to cancel the remaining debt upon death. You should therefore carefully read the terms and conditions of the lender.

A car loan is a loan that you can use to finance the purchase of a car.

A car loan is a loan that you can use to finance the purchase of a car.

A car loan is also called a car loan. If you are considering taking out a car loan it is important to calculate the monthly costs of the car loan. With a car loan, the car itself usually serves as collateral. A car loan is very similar to a normal revolving credit. If you want to finance a car with a loan, you can therefore also choose to take out a revolving credit.

By the way, don’t go for the first lender. Therefore, compare the conditions as well as the interest rate. A 1% interest rate difference on an annual basis is a big difference, especially if the loan involves a large amount. Therefore, request quotes from different lenders. It is better to make an informed decision in a well-informed manner than to rush to opt for an expensive loan for your car.

Are you planning to take out a mortgage loan?

Are you planning to take out a mortgage loan?

First, calculate the maximum amount of the mortgage loan and the monthly mortgage costs associated with the mortgage loan. There are many different mortgage types. This includes the interest-only mortgage, credit mortgage, linear mortgage, annuity mortgage, investment mortgage, traditional life mortgage, savings mortgage and savings investment mortgage. These mortgage types sometimes differ greatly from each other, therefore it is important to perform a calculation for the mortgage type that you wish to use.

On the website of lenders you can make a well-arranged calculation of a mortgage loan that you wish to take out. What is particularly important for mortgage lenders when calculating the amount of the mortgage are the wages of you and possibly your partner. Possibly own money is also important when calculating the amount of the mortgage loan. It should also be noted that the amount that you can borrow with a mortgage loan may differ for the purchase of an existing home compared to the purchase of an existing home. You can usually get a higher mortgage for an existing home. This is because banks take into account double interest charges and other costs when financing new homes.

If you have a clear picture of what amount you want and can borrow, you can be sure that you can bear the (monthly) expenses without any problems. You can then decide to take out the loan loan.

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Save with the help of your credit card /save-with-the-help-of-your-credit-card/ /save-with-the-help-of-your-credit-card/#respond Sat, 09 Nov 2019 09:46:19 +0000 /save-with-the-help-of-your-credit-card/

Even if you don’t believe it, the   credit card   It is not useful just to accumulate miles or buy things without having all the money instantly. On the contrary, it is a perfect instrument to generate a   saving   In the monthly budget, everything is in how you use it and how much control you have of yourself.

Many people have demonized the cards and see them as an expense instrument, but it is necessary to change that mentality and begin to apply certain measures that will allow us to make the most of it and save, having more liquidity month by month.


Payments to a single installment do not generate interest

credit card

So, if you use the card and pay a single fee, no additional cost will be generated. But what is the reason for doing this instead of just using cash? The key is that the card gives you discounts or allows you to accumulate points.

In this way, you will end up paying exactly the same for the product, but the difference is that you will be earning points that you can later use for something else, such as airline tickets, discounts, etc.


Research the discounts the card gives you

credit card

Suppose you were going to pay for your gym membership in cash, but when you check the discounts that your plastic gives you, you see that there is 20% in the monthly payment of a gym and when comparing prices, using your card you pay less!

So, all you have to do is save the money and pay with the card. As you will defer to a single fee, when the time comes to make the payment, you will have the money and you will see that 20% you saved is left over.

This can be repeated with many things: restaurant expenses, shopping for the month, sports activities, etc. That’s why it’s important to make sure that the card you have really gives you the right benefits for your profile. And if it turns out not, remember that you can always compare the options.


To take into account …

credit card

Now, something very important that you should know is that, for this strategy to work, it is necessary to be clear that the money you were going to use for that expense has not been “available”. That is, you should not spend it on something else, because the payment is pending and you can pay it in one installment.

Here the self-control of each person comes into operation. If you spend it on something else, there will be no savings but double spending. If you save it and use it to cancel the purchase, there will be savings there.

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Some tips to help pay payday loans /some-tips-to-help-pay-payday-loans/ /some-tips-to-help-pay-payday-loans/#respond Fri, 25 Oct 2019 02:44:08 +0000 /?p=76 Each of us may experience a misfortune that will result in the loss of a large sum of money. For someone who has no creditworthiness, often the only solution is parabank loans, or payday loans.

However, this is only short-term help that can cause us to fall into a spiral of debt. The first step towards debt relief should be a firm decision that you will stop taking further loans.

You must stop borrowing and stop buying in installments

You must stop borrowing and stop buying in installments

Avoid using credit cards and debits in your accounts. Calculate how much you spend on interest during the year, the result may shock you, but also motivate you to act. It is also worth doing a community interview and finding out what can be done legally and what is not allowed.

Practical advice when paying back payday loans is not to pay any extensions in the absence of funds to pay back the loan you have received . Remember that you have no such obligation. The only effect you may have if you do not pay the extension is to charge interest for the delay.

It is much more profitable to regulate interest than to pay for an extension. Interest for every PLN 100 (as at July 21, 2014) may increase by PLN 16 per year . In turn, the average cost of extending a PLN 100 loan for a month is about PLN 20. After a year, this gives PLN 240, i.e. PLN 224 more than the maximum value resulting from legal regulations.

This trick is often used by companies offering payday loans


In fact – along with the cost of recovery – is the basis for earning them. How not to extend the loan? You should not make any statement about your intention to extend the repayment period.

Therefore, do not log into the online system of the loan company and choose the option of extension, in the telephone conversation that the loan companies perform several days before the repayment date, you should not agree to the extension and you should not respond to SMSs with information about the extension offer.

The downside of such a solution is that in such a case there is a delay in payment, which may result in additional debt collection costs and even going to court.

This fact affects the cost of the loan

This fact affects the cost of the loan

Detailed terms of the offer and contracts with loan companies may, however, mean that the effects of the delay will be different than described above. Fortunately, it is possible to challenge debt collection expenses that are set too high. These costs are limited in the light of case-law, and companies often specify them in any way, e.g. PLN 300 for sending a written request for payment.

According to the jurisprudence of the Office of Competition and Consumer Protection, the cost of sending a written request for payment in the amount of PLN 20 is too high, and if the creditor charges such costs, we have no obligation to pay them. However, we will have to pay the cost of debt collection in accordance with the law.

Remember that getting out of debt related to payday loans will be a difficult, monotonous path, but regularity and solid organization will bring results!

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Help in paying off the loan! /help-in-paying-off-the-loan/ /help-in-paying-off-the-loan/#respond Sat, 19 Oct 2019 13:20:54 +0000 /?p=54

In 2015, an act appeared that guarantees help to those who have financial problems and are unable to pay back their loans.

Great! According to official information, the Borrowers Support Fund still has over PLN 600 million. Why do they not reach those who need help paying back the loan? Is the public sufficiently informed about this fact?

Few benefited

Few benefited

At the beginning of 2016, banks paid PLN 601 million to the account of Bank Good Finance. The obligation to pay funds to the fund was specified in the Act of October 9, 2015. It describes the rules for granting repayable financial support to natural persons obliged to repay a housing loan who are in financial difficulties.

The support is paid for a period not longer than 18 months in the amount of the capital and interest installments of the housing loan – not more than PLN 1,500 per month. The condition for receiving support is of course submitting the application to the bank where we currently have a housing loan.

It should be emphasized here that this support is not free. It is returned after two years of grace. The repayment lasts 8 years in equal and interest-free monthly installments. The borrower will be informed by post by Bank Good Finance about the support reimbursement schedule, installment amounts and the invoice number to reimburse the funds received.

What are the borrower’s obligations?

What are the borrower

In order to obtain support, the borrower should submit an application (at the bank in which he has a housing loan) by December 31, 2018. To obtain support, he must declare – under pain of criminal liability – in the application for: a) the existence of circumstances constituting the basis for granting support, including which of the prerequisites referred to in art.

clause 1, is the basis for applying for support, b) the conditions of all insurance contracts, on the basis of which he is entitled to unemployment benefit, including the date on which the period of payment of benefits under these contracts expires – in the event that he concluded the insurance contract repayment of the loan, guaranteeing the payment of benefits in the event of job loss, c) the coefficient expressing the relation between the amount of the installment paid for the housing loan and the monthly income – if the borrower applies for support pursuant to art.

3 clause 1 point 2, d) household income within the meaning of the Act on social assistance and the number of household members of the borrower – if the borrower applies for support pursuant to art. 3 clause 1 point 3. At the moment when the support was granted on the basis of art. 3 clause 1 point 1, which says that “the support may be granted if the borrower has the status of the unemployed on the day of submitting the application for support (…)” – the creditor sends information about granting support to the poviat labor office competent according to the borrower’s place of residence. Support may be granted in cases specified in Article 3 of the Act on support for borrowers in financial difficulties who have taken out a housing loan: 1) on the day of submitting the application for support, the borrower has the status of the unemployed, or 2) the borrower shall bear the monthly costs of servicing the loan housing in an amount exceeding 60% of the household’s monthly income , or 3) monthly household income, less the monthly cost of servicing the housing loan, does not exceed: a) in the case of a single-person household – the amount specified in art. . 8 clause 1 point 1 of this Act, b) in the case of a multi-person household – the product of the number of household members of the borrower and the amount indicated in art. 8 clause 1 point 2 of this Act.

Suspension of support payments


Bank Good Finance may suspend the payment of support in the event of:

  • loss of unemployment status,
  • disposal of the subject of credit,
  • termination of the housing loan agreement (on the day the notice period ends),
  • taking enforcement action on the subject of the loan (on the day of taking the first enforcement action),
  • loan repayment (on the day of paying the last installment),
  • increasing monthly revenues, lowering the monthly installment or reducing the number of household members (which does not meet the specific requirements for providing support, according to the Act).
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Scam, phishing etc. Beware of scammers UK loans /scam-phishing-etc-beware-of-scammers-uk-loans/ /scam-phishing-etc-beware-of-scammers-uk-loans/#respond Tue, 15 Oct 2019 13:13:32 +0000 /?p=64

Less and less often we are exposed to the fact that someone will attack us or take out the wallet from our pocket. With the development of the Internet, however, new types of financial fraud have emerged. Who is scammer and what is phishing? How to protect your credit card and bank account? We explain.

Unfortunately, but criminals are also moving with the times. They are constantly changing the way they act. However, they all have a common goal: to steal our money. Over the years, their method of operation also does not change. They use our carelessness and sometimes naivety.

The Internet has become their new field of activity

The Internet has become their new field of activity

Today, most financial operations are performed online. We will not run away from it. It makes life a lot easier for us, often opening new and previously unknown possibilities for us. It is thanks to new technologies that we can pay for a hotel at the other end of the world with a few clicks. We can also bring the thing we need from the other end of the world without leaving home.

We don’t have to go to the bank to make the transfer or to the post office to pay the bills. All we have to do is pull our smartphone out of the pocket. However, all this has its price. Banks are doing their best to secure our money, but sometimes it is very difficult.

Especially if we are careless. We will present the most common types of fraud on the Internet. How to protect your bank account? The Financial Conduct Authority (FCA) informs about the threats.



This is the method of sending you fake emails. They are pretty similar to messages sent by companies you know. This can be e.g. a fake PayPal email. We are often clients of a given website or bank, so the message inspires our trust. The whole problem is that a scammer sent her. Such messages often ask you to provide your details. It usually sounds very credible, but you should always be on your guard in such cases.

Most banks never ask for passwords or other information by email. Therefore, just don’t do it. And if you really need to, or the email seems credible to you, then contact the company in question whether they actually sent the email. Check the hotline numbers on the website, never call the one from the email. Remember that the data you provide opens criminals’ way to your account.

They can also fake your identity and, for example, take credit on your behalf. It is also worth checking from his e-mail the message has been sent. Often the address does not even have the company name. On her page you can see the standard address.

What is a scam?


Scam consists of sending a message in which you are most often offered some profit. There are different types. This is a big industry, which often has its headquarters on other continents. The perpetrators are therefore usually unpunished. Perhaps the most common type of scam are messages that refer to your feelings or your desire to make a profit. The former consist in the fact that an attractive person is writing to you. It could be an American general, a beautiful Russian woman who dreams of great love, or anyone else.

It is especially easy to be fooled if we actually have profiles on dating sites. What is significant for this type of message is that they are often written in broken Polish or English. We can delude ourselves that this is because the person is from abroad, but it is simply because someone in a distant country has used a translator. Such messages usually catch the heart. An inseparable element of them is, however, that after making contact you will be asked for financial support. And this for a flight to the UK, for a bribe for a visa, for an operation … The imagination of scammers knows no bounds. Similarly, with a scam that offers you profits.

An African prince, son of a billionaire, anyone can speak to you. He will always want to share his fortune with you, but he will always have a problem. For example, he will say that he must pay a bribe to an official, get to the place where he hid a bag with money, etc. Of course, he will need some help for this. Specifically yours.

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