What you should know about quick loan

In recent years there has been an increase in quick loans, due to the urgent money needs that we all have at some time. An unexpected payment, a broken appliance or the children’s school books, which represent an extra cost. In many occasions, our expenses grow, but, unfortunately, our income remains the same, which makes it impossible to squeeze more to cover those unexpected or urgent needs that we would easily solve with a quick loan.

Tips for requesting a quick loan

Tips for requesting a quick credit

This type of loan is a real relief for many people, who, faced with a specific situation of urgency, can face a payment or expense in a simple, fast and safe way. In addition, we can get these loans without having to wait long to receive the timely concession of our bank branch. And all this with many more facilities than a loan to use, since they do not require any type of endorsement or bureaucratic procedure that prolongs and hinders the process.

The way to get your loan is very simple: you only have to make a phone call or fill out a form through the Internet and, within a period of less than 48 hours, you will have your money for what you need. And, with a quick loan, you’ll get a response in less time than in a conventional branch and, above, saving unnecessary travel and a lot of time management.

In addition, if you are worried about monthly installments, you should know that these are, in general, lower than those of other types of loans and, therefore, much more affordable and easier to deal with than those established by traditional financial institutions.

Requirements to apply for a quick loan

Requirements to apply for a quick credit

In general, the requirements that you must meet are to be of legal age, fill in a form and indicate the amount of money you are going to request and, in a very short time, you will comfortably receive the desired amount in your account number.

It is true that, before applying for a quick loan, you must assess some aspects, such as what really covers an unexpected or an emergency (a breakdown in the car, visit to the dentist or mortgage …) and not a simple passing whim, which can lead to an irresponsible way of life. In addition, you must study your situation and the return periods (in order to adapt to them) and read in detail the conditions of the contract and the obligations of each of the parties.

In short, if you need money for an emergency or an unexpected, fast loans are great options to get it quickly, easily and comfortably. You will only need to pick up the phone or fill out a form without rushing, waiting or traveling. Yes, be well informed of your conditions and look for the safest loan.

Can I get a commercial loan with bad credit?

If your credit is bad, it is not the end of the world either because the lenders also pay attention to other elements to make their decision. Lenders are very focused on the profile of your business, say the amount of time your business has, your annual income and your cash flow. Your business profile says how successful your business is and if it presents a risk to the lender.

The time your business has is important because a new business presents a very large risk. Another thing is the income and annual profits of your business; If your income is at least $ 100K, you have options even if you have bad credit. Also a healthy flow of funds proves that your business has the ability to repay the loan.

The best option for a bad credit situation is an online loan.

The best option for a bad credit situation is an online loan.

Companies that lend online usually have more flexible criteria because the vast majority are not guaranteed by the government. The terms and conditions are established by the same companies without having to conform to the regulations and requirements of traditional banks.

It is also likely that you need a guarantor of great value such as cash, property, machinery, etc., to guarantee that in case you can not repay the loan you can compensate it with that possession.

Another option is to take a cash advance from the merchant. As it is not a loan in reality, the borrower does not base his decision on your credit score, but the ability of your business to repay the loan using the sales you make through credit and debit cards. However, it should be noted that cash advances are the most expensive financial option because it is fast money.

Another option is to use credit cards, which, although they come with much more expensive interests, are easier to obtain.

Having bad credit comes with a cost, for example, it is likely that you not only have higher interest, but also other rates, or that you have to accept a shorter return period. This means that you can end up paying a lot more money than any other business with better credit. In short, your best option may be to work strategically to fix your credit and expect it to improve before taking a loan that can hurt you more. Finally, if you have capital needs and can not wait to improve your credit, we can also advise you to search the best possible option within your situation, you can start your process here. At the same time, you can start our rehabilitation program at no cost, contact us and a growth agent AJ Raffles will contact you.

The personal loan boom | What you should know

The personal loan is a financial product that has existed in Spain for centuries. Practically, since the Middle Ages, we know this kind of loan.

Already in the last century, the loans were taking characteristics very similar to the current ones. And, regarding the product that occupies us in this text, the last years have been key. Next, we will tell you the reason for the evolution of this financial product. In this way, you will be able to understand the boom that has played a leading role in recent times.

The growth of the personal loan put in context

The growth of the personal loan put in context

This kind of loan has always been in great demand in our country, but increasingly independent lifestyles have led to more applications. We must bear in mind that, until the end of the 20th century, banks had a practical monopoly on the management of these loans. Those who wanted to avoid some of their conditions had to resort to the clandestine loan market, which also continued to work. But, at the end of the last century, other credit entities began to compete with banks in the field of loans.

These innovative entities stood out for making attractive advertising campaigns in the media and highlighting the possibility of personalizing the conditions of the financial product. These loans were no longer understood as an adaptation of the client to the requirements of the bank, but as a negotiation between the lender and the interested party, in which the needs and personal situation of the latter were decisive.

The economic crisis that we suffered since 2008 and lasted more than five years has been key to the definitive success of the loans that we are defining. One of its consequences was that the banks established tougher conditions to grant the loans, given that a significant part of those who approved had not been returned. Therefore, when the Public Administrations intervene the banks and rescue the sector, one of the measures that was promoted was to harden the requirements for the granting of the loans.

In this sense, to grant a loan, the traditional banks asked for the accreditation of a payroll and a guarantee. In addition, they verified that the client did not appear in the census of defaulters of organizations such as Financial Credit Institutions. Sometimes, these requirements could not be met by the client. Other clients were in a position to put them together, but they could take some time in that they did not have, since they needed the money quickly.

Undoubtedly, this new way of managing access to loans by conventional banks has meant that a significant percentage of the long-term customers of conventional banks have been transferred to alternative credit institutions.

Why does the personal loan of these entities offer you such satisfactory conditions?

Why does the personal loan of these entities offer you such satisfactory conditions?

Below, we tell you more reasons that explain the rise of this new type of loan. Broadly speaking, we refer to some loans that do not stand out because of their high amount. For example, hundreds of euros.

You will not have to provide a payroll or a guarantee and, in some cases, you can even find yourself in a register of defaulters like the ones we mentioned before. A regular income serves to guarantee the return.

On the other hand, doing the procedures online will save you time and money. You will not have to spend money on documents nor will you have to wait in front of the branch windows. You can manage your credit without sticking to schedules, comfortably from home. And, when the loan is approved, it will arrive in a matter of hours.

In short, a context and benefits that explain the rise of personal loans in our country.

Debt Consolidation | Tips: Get Out of the Debt Trap

 

 

Every second Austrian has debts, according to a recent study. These are in many cases private debts and consumer debt and that in no small amount. The debts result from consumer credit, overdraft or credit card or private loans to family and friends. How to consolidate the debt and get out of the debt trap, learn here.

 

Austrians are highly indebted in European comparison

Austrians are highly indebted in European comparison

 

The fact that one in two Austrians is in debt is on average across Europe, but Austrians are different from the average in terms of debt levels. 12% of Austrians have private debts of € 20,000 to € 50,000, which is twice as high as the European average.

At just under 10%, private debt is even more than € 50,000, compared with only 3% of the European average.
So many Austrians are comparatively heavily in debt, but how do you get out of the debt trap and what is the best way to consolidate debt?

 

Debt consolidation -so you will be debt-free

Debt reduction -so you will be debt-free

Debts often lead to even more debts due to reminder fees and other follow-up costs, and so creates a vicious circle, which the victims often can not escape on their own. In the end there are often foreclosures, affidavits and insolvency.

It is precisely the hopelessness that paralyzes many debtors in this phase, but the problem can not sit out and the longer you close your eyes, the worse it gets. It is therefore important to face the problems and to actively tackle them.

Anyone who does not believe this alone can get help from a debt counseling service.

Ideally, the way out of the debt trap looks like this:

  • inventory
    In order to tackle the problem, a complete inventory of all obligations must be made
  • Contact creditors
    Many creditors negotiate and accept installments. Banks can convert an expensive overdraft into a installment loan with more favorable terms. In conversation, solutions can often be found
  • Discover and exploit savings potential
    In the course of debt consolidation, you will have to cut back and save and have to give up a lot. It is therefore important to eliminate all unnecessary expenditure and discipline a budgetary book

 

 

What does debt consolidation mean?

In times of economic crisis and very slow recovery, too many debts are not a rare condition. For this reason it will often happen that we meet the term ” debt consolidation “. What’s this? What is the meaning of this term ? How does it work?

A definition

To understand the meaning of the term debt consolidation, let’s start with a definition:

Debt consolidation is a financial product that gives way to extinguish outstanding debts, generally of multiple creditors, by obtaining only one new loan. In this way it is often possible to obtain an installment lower than the sum of all the small extinct installments

How debt consolidation works

The bank or financial institution assesses the debtor’s situation in order to assess whether it is possible to proceed with the start of the loan. A fundamental prerogative to be able to resort to debt consolidation is the early termination clause: existing debts must be able to be settled in advance.

When it is useful to resort to consolidation

Unforeseen expenses are always lurking and often add up to a debt condition at the limit of the bearable. When the regular repayment of installments and payments is at risk, the consolidation of debts is a solution that allows you to go back to breathing and taking care of a single monthly payment.

Debt consolidation loan offers the following advantages:

Lighter installment – Extinguishing existing loans with a new lower installment.

The inevitable feature of a debt consolidation: the only installment that replaces the myriad of installments to be paid.

Most advantageous rate – The interest rate may be more advantageous than the one agreed for current loans. A very valid reason to think seriously about debt consolidation with .

It must be said that the debt consolidation loan is not always applicable and does not always represent an advantage for the customer as it involves an increase in total debt exposure. So we invite you to carefully evaluate all the proposals you receive. This does not mean that in many cases the debt consolidation loan is an excellent solution for many families.