Just another WordPress site Sun, 03 May 2020 15:28:11 +0000 en-US hourly 1 Do you know how to make a payday loan cheap? Sun, 03 May 2020 15:28:11 +0000

At some point in life everyone needs some financial support. Many turn to their parents, others to friends or sell their things, while a large group decides to look at the financial system and make use of payday loans.

The advantage of opting for a loan is that it allows you to start building a financial reputation, so that when it is time to buy a car or a home, it is easier for you to access financing, if you decide to apply for it. However, the idea is that no matter what financing you request, do everything possible so that it does not cost you too much. How to do it? Pay attention to the following tips:


Do not choose a very cheap monthly fee or a very long term

Do not choose a very cheap monthly fee or a very long term

This is the golden rule when it comes to borrowing money. The longer it takes to repay the loan, the more interest you will pay for it. So do the calculations and think coldly how much you could pay as a maximum amount. Ideally, you should not choose that amount, since some imbalance in the budget could harm you, but also should not choose the minimum fee. Choose an intermediate amount for the monthly installment and an intermediate term for the duration of the credit.


Find the preferred rates

personal loan

Did you know that if you have several products in the same bank, they can give you a lower rate? So if your savings or credit cards are in a banking institution, find out if you can access preferential rates for being an old customer. This does not apply to all institutions, so it is always recommended that you compare all options before marrying an institution. For that, use web comparators like Lite Lending.


Make prepayments

Every time you enter extra money, run to the bank and advance your credit. That way you will be able to finish paying it in even less time. But be careful, some institutions have certain guidelines regarding advance payments, so it is better to find out before making them.

In the information is the secret. Apply these tricks so that applying for a payday loan does not end up making you get into debt, but rather a pleasant experience that helps you fulfill your personal projects.

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Ways to reduce student loan payments Sat, 02 May 2020 12:47:15 +0000

If you have a hard time repaying student loans, there may be several options for you. Before considering these, you need to make sure that you really have a hard time paying for them.

If you have a cell phone, cable, eat every week or every day, then you need to change your lifestyle until you pay off your loan.

If you lost your job, had a low-paying job, or had a hard time finding a job, you may consider one of these options to manage your student loan payment. You may also want to try these seven steps to pay off your student loans faster, as keeping your student loans low can hurt your finances.

Student loan consolidation


You may want to consider student loan consolidation as this process can reduce your monthly payments and lock in at a low-interest rate. However, it is important to understand that consolidation can extend the life of your loan and significantly increase the amount of interest you pay.

If you are consolidating, you might consider paying off a loan at a faster rate if you are in a better financial situation. You may need to consolidate into a Joint Direct Loan if you want to qualify for income-based payment options or loan forgiveness in the future.

Student loan consolidation may also be available for private student loans. Make sure you never consolidate your federal student loans into a private student loan, as you will lose many of the benefits that come with federal student loans such as income-based payments and hardship deferrals. If you are consolidating private student loans, be sure to research the lender and try to lock in a lower fixed interest rate.

Unemployment postponement


You are allowed to have three years of unemployed deferral on your federal student loans. You can take advantage of this delay if you do not have a job.

Since you are only allowed three years, carefully consider your options before requesting a delay. During the deferral, the federal government will pay interest on subsidized Stafford loans. You will be responsible for paying interest on unpaid Stafford loans.

Delaying is not a permanent solution and will not reduce the amount you will eventually repay. However, it is a good option if you are in a financial situation where the money is tight and you know that things will improve soon, such as finding a job after being fired.

To qualify for a deferment, you must be current on your credit. Contact your loan as soon as you feel you will have to defer the loan. Don’t wait until you miss a payment.

Delaying Economic Problems


If you have a low-paying job, you may qualify to postpone economic hardship. This is usually for a period of time. Your lender will show you how long you have. If you qualify, take the opportunity to really focus on changing your financial situation. You can take the money you paid for your student loan and apply it to credit card debt. If things are really tight, you might not be able to wait for them. However, be careful not to add more debt to the picture.

If you qualify to postpone economic hardship, you will need to reapply for it every year. Make sure to note when that application is due and make sure that the delay continues. You are responsible for payments if they do not qualify even if you do not receive a notice that you did not qualify for.


The tendency is your last resort when it comes to paying back student loans. If you have difficulty making your payments, then you need to contact your lender.

They are usually willing to let you make a lower payment instead of putting the loan on default. This should be your last option. It is important to be open with your lender as they want you to pay off the money. By communicating with them when you have a problem, you can generally avoid not committing to a loan.

If you have a private student loan, survival is unlikely to be an option. It is important to pay off your private student loans as quickly as possible because they have higher interest rates and are not as flexible in working with you if you have difficulty making payments.

Revenue payments


If you have a low income or large family, you may qualify for income-based payments. You must be a Federal Direct lender to qualify. The student loan will be based on a percentage of your income.

If you qualify for this for 30 years and make payments on a full-time basis, you can have a loan balance that is forgiven after 30 years. This is a good option to consider if you are struggling to make ends meet.

You must submit proof of income each year to remain enrolled in the program. You can also qualify for the Pay As You Earn Program, which operates the same way.

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Low Documentation Loans: There is still an opportunity for some Sat, 02 May 2020 12:47:15 +0000

Getting a mortgage takes a lot of paperwork. You need to document your income by providing payroll, W2 forms, tax returns, statements from different accounts and more.

When your borrower or mortgage broker sings for documentation, that’s a good sign – they’re trying to get the best mortgage you can qualify for.

However, some people cannot submit the required documents. For them, borrowing is low documentation (or non-documentation), and some are still available.

Reasons for Low Documentation Credits

There are several reasons why you may not (or want) to provide information to a lender. For example:

  • Self-employed people prefer to show lower income for tax purposes, but this makes it more difficult when seeking a loan
  • Young workers have a history of low pay or no history
  • New business owners can’t show past consistent earnings (several years required)
  • Pensioners with investment income
  • Privacy needs dictate that you maintain a level of income for yourself
  • Finding and organizing documentation is too difficult
  • Your income or assets are not documented in any way acceptable to the lender

Qualification without documentation

The good old days of easy qualification are over. Prior to the financial crisis that peaked in 2008, you can simply tell your mortgage broker how much you earn and little if any proof is needed. These “disbursed income” (also known as “fake loans”) are no longer free.

The Good Finance Investment Corporation (GFIC) now requires lenders to ensure that you have the ability to repay approved loans – if the mortgage is a “qualified” loan. Some lenders are willing to work in an unqualified mortgage space.

Please note that these lenders do not want to return in 2006 – they are not interested in issuing subprime loans using incorrect numbers.

However, they are interested in working with people who have the ability to repay (although they do not have the ability to document their income and assets in traditional formats).

To qualify for these loans, you must be an attractive lender, and the features below will help.

Good (or great) credit: Again, low-documented loans are a thing of the past. Borrowers are only ready to settle for less information if you have great vouchers (above 720 is a good place to start). That said, if everything else is in good shape, a few dings on your credit reports may not ruin the deal.

Revenue: Revenue always helps to get approved for a loan. But unqualified lenders may be more lenient in estimating income. If you can make a case (though you can’t produce W2), you might get approved.

Assets: There is a lot of money to help, it also helps your case. Large bank and investment accounts can serve as “reserves” that you can enter to continue making payments. Loans can be milder than income if you are strong on assets.

Capital: Lenders like to minimize the risks and see that you have skin in the game. If you make bigger participation, you have a better chance with low credit documents.

Better chance with low credit documents.

Better chance with low credit documents.

For conventional mortgages, 20% is sufficient, but 40% or more can be claimed from unqualified lenders. You can always put that equality in one day later.

No free lunch. Because you do not demonstrate your ability to repay using standard documents, lenders are at greater risk. These lenders also take the greater regulatory risk by working in gray (but still legal) areas. As a result, the price is higher.

Expect an interest rate that is at least one percent higher for low documented credit. Other processing fees may also be inflated.

If you’re just looking for an easier way to apply for a loan, this might not be the best option (dig out old tax returns and payment cards). But if you fall into the above categories, this might be your only option and still worth the price.

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Advices to make a good repurchase of credit Sun, 29 Mar 2020 16:51:06 +0000

With the exceptionally low rates currently practiced, it is particularly interesting to proceed with a loan buy-back to reduce the amount of your monthly payments. The repurchase or grouping of credits thus makes it possible to have savings to meet other expenses or to finance other projects. Here are the advantages of buying back credit as well as the different conditions to be fulfilled to make the transaction successful.  


Consolidate all existing credits  

credit loans

For the credit consolidation procedure to pay off, it is necessary to combine all the loans in progress: real estate credit and consumer credit (personal credit and revolving credit). The repurchase / consolidation / restructuring of credit consists in having its current credits repurchased by a bank against the subscription of a new credit with this one. Clearly, the bank of your choice will reimburse your existing credits and in return, you agree to sign a new loan contract offered by the latter. This can help to significantly reduce spending at the low level of current rates. However, if it makes it possible to gain purchasing power, it can also increase the total cost of repaying credits as well as the duration of payment. But the other strong point of the repurchase of credit is that if the real estate loan represents more than 60% of the debts to be reimbursed, the new credit subscribed will be accompanied by the same conditions as the home loan: rate, duration,… As a result, the spending on cars, renovations, personal projects, etc. can be reimbursed over 15 years.  


Make a credit buyout by excluding a zero rate loan  

mortgage loan

The loan repurchase (including the repurchase of credit without proof) cannot be associated with the loan at zero rate (PTZ) if this one is not transferable. Indeed, the credit company will not transfer the gift it received from the government to another creditor. In addition, if the financial institution has granted only one mortgage combining the mortgage and the PTZ, the debtor who wishes to offer his credits for redemption will have to settle the two credits before taking the new loan. On the other hand, if the PTZ is not the subject of any mortgage, the mortgage can be bought back separately. Good to know: the PTZ can be excluded from the repurchase of credit but it is always taken into account in the calculation of the debt ratio of the borrower. Thus,


Save money by buying back credit  

mortgage loan

Credit consolidation also offers the opportunity to request a cash reserve which can reach 15% of the total amount of credit pooled. These savings can be used to pay for new purchases, to cope with an unexpected event, to get through a bad financial spell. This money is made available to the applicant upon the conclusion of the credit repurchase contract. Its amount is capped at $ 60,000. And it can be used freely, without providing proof of purchase (invoice, payment receipt, etc.) to the bank. However, if the money requested is allocated to a particular project, it will be possible to obtain a larger sum. But, you will have to give proof of purchase to the lender. And in all cases, the amount obtained must not exceed the total amount of the credit repurchase. 

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Credit With Children – desire for a loan Fri, 27 Mar 2020 14:50:53 +0000

Taking out a loan is a normal and everyday thing these days. In Germany alone, there are currently around 17.5 million loans. The reason for the admission is often the desire for a new car, a property or the purchase of furniture and electronics.

The desire for a loan becomes particularly strong when a child is born or when there are already children in the family. But this is where the problem often lies. Because the banks are not very generous towards families with children. We have listed for you how to get a loan with children despite all of this and what requirements have to be met.

The assessment of the financial situation

The assessment of the financial situation

In order to take out a loan, the financial background must be right. It is not important whether it is a loan with children or another loan. In the first step, the banks always check whether there is enough income to be able to service the loan after it has been taken out.

So that there is no disappointment when submitting the application, you can compare the monthly income and exceptions yourself. It is important that child benefit and possible maintenance do not count as income. Only the money that is drawn from an unlimited employment relationship subject to social security contributions can be included in the calculation.

This income must then be compared with the expenditure. On the one hand there are fixed costs such as rent, electricity, telephone, insurance and all other regular and fixed expenses. In addition, a fixed cost rate for meals, clothing and other expenses must be billed per person. If there is still money left over, you can use it to calculate the amount of a possible loan with children.

A comparison of the offers

A comparison of the offers

If the income is sufficient and a loan with children is possible, then you should not award the first best bank. Rather, it is worthwhile to compare the various offers very precisely. Even if the differences in interest rates may appear to be only marginal, in the end they can make the loan more expensive or cheaper. If you look closely and compare, you can save a lot of money.

Tip: A good comparison is best done using a comparison calculator on the Internet. There you can enter all the relevant data for a loan with children and the best offers are displayed a few seconds later. And with current interest rates and all important details about the loan.

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Credit Bureau-free loan for pensioners. Fri, 20 Mar 2020 15:01:34 +0000

Until recently, banks did not want to lend to pensioners. Although they can provide evidence of regular income, the banks did not want to approve it because of their age. But this has changed and banks also occasionally grant Credit Bureau-free credit for pensioners, but usually only if the customer is already known and is considered reliable. In that case Credit Bureau will be dispensed with in individual cases.

Easily get Credit Bureau-free credit for retirees

Easily get Credit Bureau-free credit for retirees

Of course, there are also some rules for this Credit Bureau-free loan for pensioners, because the banks also want to be sure that they will get their money back. A guarantor can help if he is ready to accept the consequences. In this case, the guarantor should definitely be informed in advance, because if the borrower fails, the borrower must pay.

Therefore, not many people are ready to take this step unless they are relatives or really good friends. Because a residual risk always remains, and the bank definitely wants to hedge this properly. Therefore, this should only be done if the guarantor does not get into a tight spot. This can happen if the latter also needs a loan, because the guarantee is of course also reported to the Credit Bureau.

Inquire at a foreign bank

Inquire at a foreign bank

Especially when it comes to Credit Bureau-free credit for pensioners, the Cream banks are waving away. Because these are set to make the request, also to protect the borrowers. An application to a foreign bank can help here. Without this query, they also grant loans in Germany.

Here in Germany this is usually banks from Switzerland. Other providers can also help with such a loan, but they are limited to 120 months. The offers should definitely be compared here, because even with Credit Bureau-free credit for pensioners, money can be saved. Especially since it is not important for foreign banks what is entered in the Credit Bureau.

Beware of dubious offers

Beware of dubious offers

Some brokers also offer their services and promise a Credit Bureau-free loan. But be careful not everyone is serious and only sense a quick deal. Some even require that superfluous insurance be taken out. Nobody should accept such an offer, just as if the agent wants to see money beforehand.

There will never be a loan here, because a reputable credit broker is never paid until he has done his job. Only then will the money be paid for and not for something that has not yet been provided. Of course, there are reputable providers who can then really arrange a loan. Then the request can really be worthwhile.

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Buy a used vehicle on credit Sat, 14 Mar 2020 15:05:39 +0000

Formerly reserved for new cars, the car loan becomes more accessible and now allows you to finance the purchase of a beautiful used car over 2 years old.

Of course, the conditions vary from one establishment to another and the tailor-made offer is used to offer a personalized contract, well suited to the borrower’s needs. Some advice on choosing financing for a second-hand vehicle.

Used car credit: a higher rate?

Used car credit: a higher rate?

Compared to new car loan offers, those of financing intended for the acquisition of second-hand vehicles seem more inaccessible. Indeed, we observe much higher interest rates explained by the fall in the residual value of the car.

If the bank can hope to recover the loan money with the seizure of the new car in the event of non-repayment, this is far from being as simple with a used car whose value is no longer attractive because of the haircut. It therefore relies on interest rates to recover as much money as possible, while taking into account the borrower’s repayment capacity.

To hope to reduce this high interest rate for the used car loan, the solution available to you is the personal down payment which will be used to contribute to the purchase of your vehicle.

Fees and obligations related to used car credit

Fees and obligations related to used car credit

Because a car loan commits you to repay monthly payments during a predefined period, it is better to choose the offer according to your real financing needs and your budgetary possibilities. To do this, start by getting information from garages and individuals who sell the used car you hope to buy to get an idea of ​​the price applied on the market.

Then find out about the total cost of this car loan, namely the amount you borrow and the total amount of interest, application fees and compulsory insurance. Especially since this information is provided to you in detail in the results of the online simulations of your car loan and they will also appear on the answer in principle which will follow from the online comparison.

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Loan For Repayment Of A Loan In Another Bank – Is It Worth It? Tue, 10 Mar 2020 07:54:46 +0000

The customer can fall back on solvency various factors. They can be: change of work, illness, movement and even the most common laziness. Most of them disappear after making multiple payments, but some just don’t pass. In this case, you will need to take out a loan to repay the loan to another bank. 

If you carefully review the policy on credit institutions, it can be confidently said that they are always ready to make very serious concessions on the condition of complete openness on the part of the borrower. This is not because of the creditors’ love for people, but because of their personal interest. After all, every problem loan comes after the first violation of the repayment regime and requires the allocation of more reserves, which directly affects the amount of income of the financial institution. If you don’t take out a loan to repay a loan from another bank, they can go to the section of the hopeless. In this case, it is necessary to attract reservoirs and pay for their services.


How to arrange a vacation

loan repayment

First of all, the borrower should know that is about to start problems with payments. After assessing their level, they can apply to the bank for help a few weeks before the difficult times begin. This should be enough time to find solutions to the problem. An additional bonus in this case is the lack of the need to pay fines for late payments or an increase in the rate for violating one of the points in the loan agreement. Repaying a loan from another bank with a new loan will not solve the customer’s main problems, but the exemption from maintaining the program for several months is pretty.

As a rule, the bank offers the option of not paying the loan for a certain period of time if the borrower’s job changes.An interesting fact is that many banks have included this option in their standard mortgage contract. In particularly difficult cases, the bank can offer its customer a full postponement of the payments made. In this case, do not rush and take a loan to repay the loan in another bank. Perhaps by providing complete information about the borrower’s financial condition, the organization offers the option of not making any payments without penalties within 3 months.




Today you can see ads everywhere from the suggestion of the organization “Fine Bank.” Repaying other loans at the cost of their money seems to be an excellent opportunity for people. However, this is not entirely correct. Solve the problems of the loan, it makes no sense at all to take out a loan from a financial institution to repay a loan from another bank. The ideal way out of this situation will be to issue a new loan with milder conditions and a long term. Provided that most of the loan has already been repaid, the bank will be happy to meet its customer. After all, in this case he will get more money and solve the problems of recruiting collectors and turn to the court to get the property of the pawn.

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Short-term money needs: short-term loan or better pawnshop? Thu, 30 Jan 2020 08:39:09 +0000

Sometimes situations arise in life that put us in a financial emergency – be it in the form of a claim from the energy supplier, an unexpectedly high additional cost payment, a car repair or simply the available money no longer suffices by the end of the month . So you are concerned about how to meet this short-term liquidity requirement quickly and, above all, easily. At best, you have a certain financial leeway at the house bank or a few financial reserves that you can fall back on – if necessary, also using the so-called overdraft facility. But what if exactly these options are not available? Pawnshop, short-term loan, loan shark or loan without credit record?

In the past, it was certainly the case that if the topic of “bank” was out of the question, the first course led to the pawnbroker. Anyone who needed money at short notice and had items that could be loaned was more or less in good hands in the past because of the lack of alternatives. Why less “good” care?


The reality of the mortgage loan

The reality of the mortgage loan

Even if you have a very valuable pledge to lend: you never get paid the new value of the pledge used, which often leads to a clear disappointment for the loan seeker. As a rule, there is much less than hoped for, which means in numbers that the loan offered is only between 25 and 50 percent of the object of value – and sometimes the deposit is even completely rejected! For example, if no proof of ownership can be provided for high-quality items.

In addition to the interest, which is usually quite low (approx. 1%), there are also 2-3% of the loan amount as fees – monthly! With a loan amount of 300 dollars, fees amount to around 6.50 dollars per month – interest not included! Good, let alone acceptable conditions look different!


The alternative: the mini loan

The alternative: the mini loan

An alternative, which in our opinion is significantly better than the pledge, are the so-called mini loans or short-term loans. These providers specialize in the granting of so-called 30-day loans. Thanks to so-called express options, it is also possible to have the short-term loan applied for in the bank account within a very short time (on the same day). In addition, the conditions for this type of loan are significantly better than for mortgage loans. As a rule, an average of 14% interest accrues, which means an interest charge of around $ 1.15 for a loan of $ 200, which means significantly more attractive than in a pawn shop for 30 days. In addition, there is no need to pledge an item that may have a high emotional value in addition to the material value.

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Commodity Loans: Traps for Gullible Borrowers Sun, 19 Jan 2020 08:00:02 +0000

Ten years ago people had no idea what is lending? However, the first large banks started to offer commodity loans. It has become very easy to buy any item without leaving the till. Commodity credits are now issued directly in the store.

The 2008 crisis cooled the credit boom somewhat, and banks have become more critical of lending. Despite the overpayments in space, the popularity of banks has not decreased. This article deals with commercial credit.


Credits for goods

Credits for goods

Often, many credits for goods set up an “express loan” that is very popular. However, the form of the loan differs significantly from the simplified system and has several characteristics.

  • The main feature of this type of credit registration without visiting the office. The product is displayed in the shop of the seller. The application is accepted by completing the questionnaire and sending the data to the loan officer over the Internet.
  • A preliminary application is made by a bank employee who can answer all of your questions.
  • Commercial loans are secured by collateral. Due to the non-payment of the loan, the bank has the right to collect the goods. In practice, such cases are of course rare, since the goods quickly lose value and sales become more difficult.
  • The borrower’s data is checked in a simplified form. A raw material loan is made available according to two documents. Help and proof of employment are not required.


The main advantages of the loan


First of all, this is the main advantage, the fact that the design is carried out in the store. Second, the entire registration process takes 15 to 20 minutes. It is not necessary to collect a complete package of documents for the application and execution of the contract.


The main disadvantages of loans

The main disadvantages of loans

The main disadvantage is a large overpayment sometimes equal to the amount of goods purchased. The second disadvantage is compulsory insurance, without which the lender won’t approve the transaction. It is also necessary to consider the difficulties of exchanging goods through marriage or break.


How can I take the goods you like on credit?

credit loan

Everyone was probably faced with this situation – go to the store to familiarize yourself with the new products and see the desired product that is pleasant in every way, and even a few weeks before the salary. And here comes a friendly manager and offers to arrange the desired product on credit. Satisfied customers don’t understand the terms of the contract at the time of the transaction. Rainbow mood goes when you have to repay the debt with interest.

If you are seriously in need of a particular product and would like to buy it on credit, we will inform you of the order of registration.

  1. Choose a store. It is necessary to find a store where this product is offered at the lowest price or offered for a promotion.
  2. Choosing a bank Before applying for a loan, you need to familiarize yourself with the terms of all banks and calculate the most profitable option with a minimum overpayment. If it is not possible to trade interest alone, you will need to contact a loan officer for help.
  3. The choice of credit terms. In this case, it must be clearly defined how much you can contribute to the monthly payment of the principal. To make the best payment, you can choose a cheaper product or extend the loan period.
  4. Registration of the contract. Read the loan agreement carefully and only after reading the sign.

Commodity loans are currently very popular despite overpayments of 30 to 80 percent per year.

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