Loan for repayment of other credit

It seems quite dull and absurd to borrow another loan even if the previous credit obligations have not yet been settled, not to mention the borrowing of another loan to repay the previous loan. Such action only shows the absolute irresponsibility of the borrower, the inability to plan his finances and time. However, in reality, getting a new loan when the previous credit has not been settled is practically impossible.

  • First of all, the majority of lenders already determine that the loan will not be issued if the potential customer has outstanding credit commitments.
  • Secondly, if the outstanding credit liabilities damage the credit history, but as we know, in the case of damaged credit history, most creditors do not issue credits. Of course, in this case, it is imperative to assess whether outstanding credit obligations are current and still in the process of repayment, or whether they are overdue and neglected, and the borrower is included in the debtors’ list. Current credit liabilities are not taken into account provided that the borrower is creditworthy, that is, its income is adequate for the full and timely repayment of two credits.

Outstanding credit commitments, which are neglected, are considered a serious obstacle to new credit.

Outstanding credit commitments, which are neglected, are considered a serious obstacle to new credit.

This behavior of creditors can be explained logically because they simply do not want to ” climb on the same rakes ” to which another creditor has already climbed, namely, having trusted and lent a loan to a borrower who is irresponsible, dishonest, untrustworthy and how it looks also insolvent. Non-repayment and delinquency of any loan leads to greater or lesser financial losses for the creditor, which is why creditors choose their potential customers very carefully to avoid disappointment. However, not all lenders treat their potential clients as responsibly and scrupulously and also give credit to those whose credit history and creditworthiness are not positive.

In addition, lenders who are not interested in the credit history and financial position of their potential clients are also not interested in the purpose for which the loan is provided. From the foregoing it can be concluded that the loan can also be received by a person who has outstanding debt and wants to use the loan to settle it. If a specific example of such creditors is to be mentioned, they are lenders of fast credit. Of course, it cannot be ignored that in such situations, all quick credit lenders will undoubtedly issue a loan, because when the effect of the laws and regulations on non-bank lending is in force, a large part of non-bank lenders will also start setting rules for credit history, creditworthiness and lending targets of potential customers..



Microcredit: a solution for an advantageous fast loan!

When can you need a microcredit?

When can you need a microcredit?

You see your microcredit as a way to create your business or participate fully in a personal project you care about. Here are the different cases where getting your microcredit is not only a quick but also sensible solution.

Make your project easier!

Make your project easier!

You have known for a long time: you have an idea that could revolutionize your professional or personal career. Do you want to make a linguistic trip of a few months to improve? Your car has just broken down, but is it essential for your work? Rather than opt for a classic loan. Microcredit rates are also high, but in return you can borrow a small amount of money in the short term.

That’s how companies like FinderCash came to life. The purpose of this platform is to facilitate access to a loan for a transfer in the week! The only documents to provide are an IBAN, have a credit card, the login credentials of your online banking space. Thus, you are relieved of all paper mail, which can be lost by post or simply take time to arrive at your destination. In this case FinderCash, this platform offers a loan within 48 hours for a refund with interest over three months.

The old vision and resolution of the past problems of microcredit

The old vision and resolution of the past problems of microcredit

Despite common thinking, obtaining microcredit can be facilitated. But still it is necessary to know the tricks and to know to whom to ask it!

We have already mentioned the procedure of obtaining. In the past, it was more difficult to obtain because the financing companies look at your banking history. If you apply after a bank or structure that allows you to obtain a micro-credit, the procedure usually requires a waiting period and a mailing.

The link between microcredit and professional career

The link between microcredit and professional career

If you want to start your micro-enterprise, it’s a viable solution because it gives you time to get started as a micro-entrepreneur to get a traditional loan. Microloan should be seen as a way to get into the world of work in a sustainable way.

Be aware, however, that the declaration of the microloan is to be made in your name as a natural person. These are not obtained if you apply as a company. The repayment of the loan can of course be realized thanks to your profits generated in company, because they return in your personal expenses of micro-entrepreneur. You have to think of microloans as a way to save time and money for your business.

A procedure facilitated by multiple structures

A procedure facilitated by multiple structures

Cause and effect, new and digitized structures have appeared. It is up to you to make your choice. Although today microcredit is democratized, you can still prefer a classic structure to a private structure.

If you start telling yourself that microcredit is the solution you need, dedicated sites have been set up for you to get it quickly in a satisfactory time. There are among others:

  • Government structures available to you, but do not yet offer an online system, with the risk of a delayed shipment;
  • Associations – often aimed at underprivileged populations, or specialized for specific statuses such as students;
  • Dedicated platforms – be careful not to pick the ones that ask you for money before you get credit, they can be scams. Read customer reviews before taking action!

Microcredit is the solution for all those who are short of money and who want to take advantage quickly to mount microprojects – and why not microenterprises. To learn more about the keys to a successful business, if you’re thinking of building your own, here’s an enlightening article provided by .

In the World of Loans: What is Consolidation?

A growing group of Poles live on credit, and people who are indebted to several banks at the same time are increasing from month to month. Repaying them often turns out to be a serious problem. How to deal with your own debts? How to reduce any inconvenience related to their repayment?

counting money

Where is the debt from?

Where is the debt from?

An emergency situation and no savings – this combination makes the majority of Poles reach for a loan. PolyBank is one of the institutions to which Poles report in problematic situations. What? Car breakdown, the need to buy new household appliances or other random situation, which is associated with unexpected expenses. The problem is that Poles take out such loans more and more, using the services of various banks. Effect? Several loans repaid at the same time. This phenomenon is associated with other problems that can seriously annoy life.

When loans become a problem

When loans become a problem

For many people, one loan becomes a serious problem. The amount that needs to be paid in due time on a monthly basis and compliance with these deadlines can cause many problems and those who are indebted only to one bank. What are they to tell you who have borrowed in several institutions? For them, the problem is primarily to maintain control over repayment dates, and the necessity to pay several loan installments at the same time means that there is little left from the payment of a living. What is recommended to those who pay liabilities to obstruct normal functioning? Amazingly, the most recommended solution is to take another loan here …

Or maybe consolidation?

Or maybe consolidation?

A consolidation loan is a unique phenomenon that allows banks to make it easier for customers to repay various debts. The rules for such a loan are simple. A customer who repays several loans simultaneously transfers them to one bank. Here, small loans and smaller loans are converted into one, larger loan. Benefits? With several installments, one is created with a contribution that does not hinder the client’s normal existence. Such credit has been spread over many years, but thanks to this it becomes an easier liability to pay off. Often banks grant such loans for up to 40 years. With a consolidation loan, it is worth paying attention not only to the amount to which you can be indebted. It is also worth checking what security the bank requires and what form of security is the most advantageous. The most popular option is a loan with a mortgage collateral. Usually the interest rate on this form of consolidation is much cheaper than the cash loan granted to those who can not boast of real estate collateral.

The offers of banks offering consolidation of loans are quite diverse. Such a solution currently has many branches, like the well-known PolyBank. Opinions on individual consolidation loans can be found both in online comparison websites and in trade press. It is thanks to them that you can choose the best solution.

Subscribe to a personal loan online

Minimum age to take out a personal loan?

Minimum age to take out a personal loan?

If the subscription of the personal loan is open to all, there is however a minimum age. Indeed, only adults can apply for consumer credit.

Perfect for younger people who do not have large savings, the personal loan allows to settle down and enjoy many benefits such as fixed monthly payments and an interesting term.

Domiciliation in France for the subscription of the personal loan

Main obligation when you want to subscribe a personal loan, the borrower must have a current account domiciled in France. In fact, this condition must allow credit institutions or banks to directly withdraw monthly payments from the credit and to reimburse themselves in the event of late payments.

French nationality is however not mandatory when subscribing the personal loan, only the bank account must be French.

Obligations to be met when subscribing to a personal loan

personal loan

The subscription of a personal loan requires a certain compliance with the rules of the Consumer Code, as well as several obligations claimed by financial institutions lenders.

The latter in particular provide guarantees to banks who want to make sure they can recover their money as well as the interests of credit.

The rules obviously vary from one bank to another, but always bear on the security of the amounts committed:

  • The borrower must be solvent and prove his financial health. The credit institution is thus entitled to check this information with the Banque de France files. The borrower must also not be prohibited from banking to subscribe a personal loan.
  • The borrower’s salary must be able to cover all the deadlines without hindering his daily life. Indeed, all credits, whether consumption or not, must respect the rule of 33% maximum of the overall income of the borrower.
  • The borrower undertakes, in the loan agreement, to repay the entire amount borrowed, as well as the interest charged. In the event of late payment of the monthly payments, the lending institution gives itself the authorization to charge terms and conditions whose terms are set out in the personal loan subscription agreement.

It should be noted that, if it is not mandatory, an employment contract of indefinite duration will be favored when the credit is opened. Banks are looking for reimbursement insurance

Loan Advice: Everything You Need to Know About Credit Insurance Loan

No matter how good life is, it sometimes offers us serious tests that test our abilities to deal with them in a proper way. However, when they require more than personal qualities, such as money, then are faced with serious dilemmas that must overcome within certain time frames.

Then it is quite possible that the need to withdraw a certain kind of credit to give us the courage and the opportunity to cope with the given situation is out of the question. The reasons for such a step on our part can be varied – from home or car repair, to meeting urgent health needs or another more serious cause. Regardless of what it is intended for, the loan must be well thought out, as well as your ability to cope with its return.

A modern step that provides you with an extra level of security is the credit insurance that many people already use as an extra plus to the need for peace of mind. Once you’ve signed a contract with your creditor for the amount you’ve paid, it’s good to keep in mind that there’s always the chance that something happens to prevent you from reimbursing the amount.

In short, this means that under certain conditions in which the borrower does inevitably happen to prevent him from returning the amount received, the insurer will assume the corresponding obligation.

In most cases, the risks covered are serious enough

  • Disease;
  • Unemployment;
  • Hospitalization due to accident;
  • Temporary or permanent lack of ability to work, respectively failure to repay the loan;
  • Death.

This type of contract is also guaranteed by the bank or non-bank institution that has granted the amount, and you are left with the peace of mind that there will be no problems with repayment of the loan.

What are the conditions and why you may not be able to sign a contract for such insurance

As a starting point, you should be aware that you must not have a pass in the payment of the insurance fee. Another reason that may prevent this is the presence of registered previous illnesses that led to incapacity for work and possible failure to repay the loan. If these are available in your story then your chances are reduced. Another case is if you are a sole trader. Then you could very hardly conclude a contract against “Unwanted Unemployment”.

Insurance bonus

This is the contribution you have to make over a certain period of time – in most cases every month, quarterly or yearly. It is predetermined in relation to the assessed risks. In most cases, you get a certain amount of money due for an annual payment.