Creditworthiness and having a child

It is widely known that many factors shape creditworthiness. In addition to the type of employment contract, the amount of earnings or the lack of debt, it is also important to have a car, have life insurance, and occupation. How does having a child affect the creditworthiness?

Many of us have probably heard stories about applicants hiding primarily having a mortgage from the bank. Check the offer of payday loans on Good Finance. Instead of trying, it’s worth taking a look at the issue of having children and building creditworthiness.

In almost every bank

cash

Having a child reduces your credit standing when applying for a mortgage. Banks assume that a child is a household expenditure of USD 200-700. Read about the popularity of payday loans on the financial market. It covers children from birth to 18 years of age. Most banks determine for adult children individually whether they are dependent on their parents.

Banks establish creditworthiness in such a way that they assign a certain social minimum to each person in the family. Typically, banks have the same amounts for adults and children. This means that the bank assumes that the maintenance of one family member costs e.g. USD 400. We know good ways to get quick cash. Therefore, living for a family of four costs approximately USD 1,600. The borrower must still be able to repay the loan and pay other fees (e.g. rent, electricity).

On the other hand, when determining your credit score, some extra points are awarded to people who have children. This is due to the conviction that the parent is responsible and will make every effort to ensure good conditions for the development of his child – so he will regularly pay off his obligations and make sure that he works. An analysis of borrowers’ profiles shows that married couples regularly pay back loans. So having a child can also be interpreted as a plus for you.

Is it worth hiding having a child from the bank?

cash

Certainly not. It must be remembered that this is illegal – you must not give false information to get a loan. What’s more, before granting a loan, the bank carefully reads the history of transfers (outgoing, incoming) for a specified period. Taking a payday loan for the winter holidays. He can get some doubts when you often shop in baby stores or get transfers from your aunt titled: For diapers for Wojtuƛ.

Remember that in the Central Database of the Banking System the Register is entered the data of persons who submitted false documents or made false statements in order to obtain a loan, loan, surety or guarantee. Thus, seemingly innocent concealment of information about having a child may completely cancel the chance of getting a loan.

No lie pays off. If the bank does not want to grant a loan, it means that we would have serious problems repaying it and, as a result, we could fall into debt. If you can’t get a loan, you should look for another alternative instead of cheating.

How to calculate the loan installment?

In today’s post we will discuss the issue of loan installments. Let’s discuss topics such as how to calculate a loan installment, which installments are the best and whether it is worth suggesting a loan installment. So I invite you to the first part of the entry.

What will my loan installment be?

What will my loan installment be?

Calculating the loan installment is not as easy as it may seem to everyone. Of course, I do not mean counting on foot – using credit calculators is not always good. In many cases, loan calculators do not have current loan offers and often add some margins to brokers. Therefore, to calculate the loan installment, it’s best to contact a financial advisor – he always has current offers. In addition, we can count on much more favorable credit conditions there.

Which installments are the most advantageous

Which installments are the most advantageous

As we know, we have 3 types of installments:

– decreasing installments,

– increasing installments,

– fixed installments.

Which of them are the best? There really isn’t much difference here when it comes to the amount of credit we will have to pay back. There are small fluctuations but nothing significant. It’s more about convenience in paying off your loan. For people who are sure that they will earn more in the future, they can afford increasing installments and people who currently enjoy high earnings choose decreasing installments, which in future will pay smaller installments. Despite this, fixed installments are the most popular so far in repaying loans.

Fun fact: remember that the fixed loan installment will change from time to time. This is because the level of interest rates, inflation and several other factors that directly or indirectly affect each loan installment change.

Does low credit installment mean a good offer?

Does low credit installment mean a good offer?

Many people ask themselves this question. Many of them also find this very popular marketing trick used by banks: the lowest installment loan, the lowest installment guarantee, etc.

Is a loan with such an installment cheap? Well NO. Loans with the lowest installments mean an extended repayment period. In turn, the extended repayment time of such a loan means a greater amount of loan to be repaid. So choosing the lowest loan installments we pay the largest loans. Therefore, if we can afford, let’s choose the shortest repayment time – installments will be higher, but the total loan repayment amount will be the lowest possible.

Online Credit and Data Security

Are you considering applying for credit online? What about the security of your data? Can this data be intercepted, or used for other purposes than to process your request? A quick overview of the precautions to take before making an online request.

 

Sending your data

Sending your data

When applying for credit online, you usually have to complete a form. This includes basic questions (surname, first name, contact information), but also generally more confidential information such as your income, your profession, date of birth, etc. When you submit these forms online, the data is then sent to the credit organization in charge of the site where you make the request.

 

The risk

The risk

There is a risk that the data sent will be intercepted, for example following a security breach of the site in question, or a hacking. Your confidential information may therefore end up in the hands of malicious people. The risk is to see this data used for:

  • Usurp your identity: for example by creating a fake account on a social network.
  • Hack your accounts: provided with certain confidential information (date of birth, employer, etc.), hackers will find it easier to hack your accounts (email, social networks, but also accounts linked to credit cards, for example) or by guessing your password, either by pretending to be you.

If the risk is fortunately relatively low, it is unfortunately not nonexistent, and the damage can quickly be very important! To overcome this data security problem, more and more websites are resorting to a security measure by installing a security certificate.

 

How to ensure the security of your data?

data security

If you apply for credit online (or more generally when you fill out a form on a website), there is a simple way to check if the site has a security certificate. If the site address begins with http s: //, then the site you are browsing on is secured by an SSL certificate. An SSL certificate installed on a website ensures that communication between your browser and the owner of the site (the organization offering online credit) will not be intercepted by third parties!

If websites are more and more endowed with this kind of certificates, browsers are also starting to make Internet users aware of the security (or non-security) of a website.

 

Some examples of secure sites

secure sites

Today, there are many credit agencies offering to apply for credit online via a secure website, for example:

  • Powercredit, which offers a two-step form for applying for credit online.
  • Credit Hope, which offers not only an online credit application form, but also the possibility of assessing the feasibility of the loan according to your situation.
  • Yesmax Credit: offering SMEs to directly apply for credit online. This secure solution is therefore aimed at SMEs, companies and freelancers, who have every interest in ensuring the confidentiality of the data transmitted.

 

Another problem: the use of data

Another problem: the use of data

In addition to the problem of possible interception of data on non-secure sites, the problem of the use of data is also present. How do you know where your personal data will be used? Will these only be analyzed in the credit application process, or are they at risk of being passed on to third parties? To ensure the acceptable use of your data, it is therefore better to consult the disclaimer / conditions of use of the website on which you make your credit request:

  • Check the terms of use
  • In particular, check the presence of a data protection clause

In any case, if the site does not have conditions of use or disclaimer, it is better to be wary, and maybe look for a solution elsewhere!

List of companies providing quick loans

Good Finance is one of the most popular loan companies on the Polish financial market, which offers quick cash loans. The Good Finance offer also includes free loans for new customers. And what other companies can compete with Good Finance? Check out popular payday loans companies.

Loan and Credit Loan – payday loans online

Loan and Credit Loan - payday loans online

The Loan and Credit Loan company provides quick loans online, limiting all formalities to a minimum. The application takes only a few minutes to process, and after a positive review, the transfer is immediately sent to the borrower’s account.

The company can also boast of a reasonable, balanced offer. Usually loans are concluded there for 1000, 2000 or 3000 USD with a real money back date. At Loan and Credit Loan, new customers can also count on a free loan of up to USD 3,000, and the repayment period for such a commitment is a maximum of 30 days.

Quick loans in Good Credit

Quick loans in Good Credit

Good Credit provides quick loans online. Its offer includes loans from 100 to 6000 USD, which must be repaid within 45 days. The maximum amount of payday loans is the company’s strength and sets it apart from the competition, which can be seen by browsing the payday payee comparison.

What else characterizes this loan company? First of all, at Good Credit it is possible to take out a loan without income certificates, which can be a good solution for people who do not have a permanent job. The Good Credit offer also includes free loans for new customers up to USD 3,000.

E-Money – loans without BIK

E-Money - loans without BIK

The E-Money company has been operating in Poland since 2013 and thanks to its television advertising, it gained very popular in a short time. The customer’s laurel awarded to this loan company in 2014 is proof of this. What distinguishes E-Money from the competition?

First of all, this company does not check its clients in BIK, and for new clients offers a free payday loan for 1000 dollars, which must be repaid within 30 days. It is also worth mentioning that E-Money carries out customer verifications by bank transfer. After completing the registration form, confirm the bank account number by sending USD 0.01 from your personal account.

Loans in Good Credit

Good Credit has started its operations in Great Britain, today you can also use its services in Poland by applying for a loan via the website. Good Credit’s offer includes both payday loans and installment loans.

The loan granting process in this company is 100% automated, everything is done via a website. Payday loans are granted there from 50 to 1500 USD, and the minimum age of the borrower is 18 years.

Online payday loans – Online Wallet – online payday loans and loans

Online Payday Loan what exactly is this and why such popularity. You would have to start from scratch when the first ways to borrow money online appeared. And it was … a dozen or so years ago? I think something like that.

It is difficult to clearly estimate the exact date of this unique option for quick cash on your account. But this is not important. It is important that the precursors of this solution have made applying for money easier. And queues at stationary service points have been turned into fun at the computer keyboard.

Online payday loans

Online payday loans

Why does anyone who lends money for a short period use the payday refund? After all, this word created for the needs of the parabank industry has so deeply rooted in society that it has created a powerful machine for borrowing money.

The borrowing of cash has been known for a long time. Whoever had more could repeatedly lend it to the poorer for the commission he received as a gratification for his services. Of course, the whole bill received various interest with the help of which the lender made money on those who borrowed money from him. Today, this way of managing finances is powerful tools enabling millions of people to use cash online.

I guess each of us found ourselves in need more than once when he quickly needed money. It was always the case that the loans were taken from the family and the family gave them away. However, as it is in life with the family, it is best to look in the pictures and in this case this phrase is extremely true.

Payday loans online

Payday loans online

By choosing parabanks as the main source of online payday loans, we give ourselves the opportunity to receive nice money for a short period of time. If we are not late with repayment and we regularly pay back the amounts borrowed. In the event of delays, problems may arise from parabanks, which may impose additional costs on us in a form that significantly exceeds the profitability of online payday loans.

Therefore, when using online loan services, we must remember the contracts we sign. The second thing is to adjust your repayments to the deadline in the contract. By sticking to the regulations, we can safely use the opportunity offered to us by the internet when borrowing money. Millions choose this way of formalities and enjoy their money on the same day. If you care about this, you can try to borrow a payday loan online for 30 days.

Free payday loans online

Free payday loans online

For payday loans online, there are also promotions for getting money for free. In this case, it means more or less that you get cash without interest. The procedure itself is the same as for loans without promotion. However, in one company such offer can be used only once. If the offer already exists in the database, it is not valid. Hence, free payday loans online are only lent to new customers.

However, the problem does not exist if we have not used such an offer so far. Given that many companies use similar promotions, we can be sure that several times we will certainly be able to borrow payday loans online without interest and pay exactly as much as we received

In short, this is the online payday market, which, despite bad press and many unflattering situations, continues to grow dynamically and is gaining more and more of its clients.

Credit interest rate: who decides and how to get a better rate?

In the case of a personal loan, who determines the interest rate charged? How to estimate the rate of your future credit, or get the best rate? Our explanations.

 

A framework imposed by law

A framework imposed by law

The establishments are not free to charge the interest rates they wish, and must comply with federal consumer credit law (or LCC). Thus, it is the Confederation which decides the maximum admissible rate, under article 14 of the CCA. Until 2016, this rate was 15% for consumer loans. However, as of July 2016, this maximum interest rate decreased to 10%.

 

The rates offered by banks

The rates offered by banks

Institutions offering consumer loans are free to charge the desired rates up to the maximum rate set by the Confederation. Concretely, the interest rate charged by banks depends on several factors, in particular:

  • The solvency of the client: which depends on his budget surplus, in other words his ability to repay monthly after deduction of the cost of living.
  • The good repute of the customer: which depends directly on the customer’s history (bad codes with the ZEK, history with the bank, etc.), but also on his personal situation.
  • Liquidity requested: the interest rate fixed may thus depend on the amount and the duration envisaged for the loan.

 

Get a better interest rate

Get a better interest rate

To obtain a better rate, it will therefore be a question of working to improve its solvency and its repute. Concretely, it will especially be necessary to pay attention to the following elements:

  • Present your financial situation in an exhaustive manner: in particular do not forget to declare additional income, bonuses, gratuity, etc.
  • Avoid making multiple requests: credit requests are generally registered with the ZEK. Making too many requests in too short a period of time can lead to incorrect registration with the ZEK.
  • Pay your monthly payments on time: late payments can also be registered with the ZEK, and are in all cases registered with the establishment where you obtained the credit. If it is impossible to pay a monthly payment, it is better to notify the financial institution to arrange it rather than to decide to pay the following month with a reminder.

 

Negotiate your rate

In fact, it is difficult for an individual applying to a bank to negotiate the proposed interest rate. The bank will make a proposal with a given rate, and the applicant is free to accept or not. To be able to negotiate better rates, it is better to contact an agency or a broker. A credit agency will have the experience and relationships necessary to get you a better offer.

Security of loans as evidence

The use of the loan offer as proof has more and more supporters. Consumers recognize the benefits of proof loans, but a large proportion are still afraid of this type of loan. This is mainly due to ignorance and ignorance of the non-banking sector and the laws that govern it. Is proof loan secure and how not to be fooled by dishonest lenders?

Security of loans as evidence

Security of loans as evidence

It is the loan companies’ duty to inform the consumer about the cost of the loan. Furthermore, they must make the content of the framework agreement available so that they can be read before it is signed. Law adopts more and more solutions that secure the interests of consumers in relations with non-bank loan institutions, thanks to which:

  • a limit was set for the additional costs of the loan, which limited the lenders’ earning effort – amendments to the regulations are to raise the maximum cost level to 45% per annum and 33% per month,
  • the rollover of loans was limited,
  • you need at least 300,000 to start a loan company USD of capital,
  • failure to complete the required provisions of the contract gives the consumer the option of returning the loan fees.
  • More detailed regulations make a loan under ID a secure transaction. The application process should not compromise the security of the applicant’s data.

The application goes directly to the lender or intermediary in granting loans, and logging into the bank account when confirming identity is done using data encryption protocols, which excludes phishing.

Best loans for proof – where to look for offers?

Best loans for proof - where to look for offers?

There are a few rules to follow when looking for secure loans. The most important is that:

  • check opinions about the loan company,
  • make sure the loan company is legal
  • know all the costs generated by the selected loan as proof,
  • check the provisions of the framework agreement,
  • do not use companies that impose large fees on the consumer before the loan is granted.

Suspicions and doubts will be justified in the case of a little-known company, which does not take into account any ranking loans for evidence.

  • list of checked companies,
  • loan cost data,
  • information on whether there is a free loan for proof in the offer,
  • estimated time to pay the loan.

When using the services of a lender included in the loan proof list, the consumer who is well acquainted with the offer should not encounter additional problems.