Unforeseen circumstances may be such that you can no longer settle and deal with the monthly payments of your credit: loss of employment, death, illness, etc. According to the CEB, in June 2017, 545,399 people (representing a decrease of 0.8% compared to June 2016) showed non-payment on their loans. This non-payment, also known as unpaid credit, can lead to a serious default and serious consequences. And you are entitled to ask “What happens if I can not repay my credit?” Find out below what can happen if you do not pay your credit.

1. You will be blacklisted by the CEB’s Central Bank for Personal Credits (CCP)

If you do not pay your credit, you are likely to be blacklisted by the CCP. The latter, a tool against over-indebtedness, identifies bad payers. When you do not pay / over your credit, the lender must inform the Central of non-payment within eight business days of its challenge, according to the criteria set by law. Failure to pay must be more than three months.

When you are registered on this list, you will stay there for a maximum of ten years if you do not regulate your situation. Nevertheless, if you repay all of your debt, this period is reduced to one year after the regularization date.

2. Your lender will have different options available to him

at. He can call on your guarantees

The lender, in case of non payment of the credit, can proceed to the seizure of your various guarantees according to the modalities defined by the law:

• Your deposit : after sending a formal notice by registered letter, if you still have not paid the payment of your credit, the lender may call on your surety and order him to pay. For this, you must not have paid at least two deadlines or at least 20% of the total amount to be repaid or the last deadline.

• Your salary : the lender can make a seizure on your salary. For this, you must have consented to a contract assignment distinct from that of the main loan agreement. The lender must first notify you by registered letter of his intention to implement the seizure. Then follows a procedure after which the lender can seize a portion of your salary. Usually, he informs your employer, who will pay him the money. Nevertheless, you can challenge this before the justice of the peace and / or ask him for payment delays.

• Your mortgage : If you do not pay back your mortgage, the property on which your loan was made can also be seized.

b. He may demand the repayment of the loan

If you face a non-payment of your credit, the lender, after reminders, may terminate your contract and request the repayment of the latter. For this, your default mortgage payment or other credit must be equal to two deadlines or 20% of the total amount to be repaid. The praetor must first send you a warning by registered letter within 3 months of the non-payment. You will have one month to pay your debt. If you do not do this, you may terminate the credit agreement and will require full repayment of the following amounts:

• • the remaining capital
  • unpaid interest
  • interest on late repayment credit consumption
  • a penalty calculated according to the contract and which may not exceed 10% of the outstanding capital on the first installment of 7,500 euros and 5% on the portion of the outstanding capital that would be greater than 7,500 euros.

c. It will be able to take back the object of the loan in the contracts of consumer credit

In certain types of consumer credit agreements, if you do not pay your monthly payments and are thus late in payment, the lender may seize the property of the outstanding credit agreement. Indeed some contracts may contain a retention of title clause. The latter allows the lender to recover at any time the property whose purchase was financed by a loan. For example, if you subscribed to a consumer credit to buy a car, and you do not pay your monthly payments, it can be resumed. However, if you have already repaid at least 40% of the value of the car, the lender must first notify you by putting you on notice by sending a registered letter. He must have your consent or authorization from the justice of the peace. It is therefore important to think carefully before you pay a loan, and to assess beforehand your ability to repay the loan. You undertake to repay several deadlines that will weigh on your monthly budget, so be sure of the importance of the project to finance.

d. He may accept an amicable solution

You can also try to find an amicable solution with your lender, but he will surely ask you for late penalties.

As well as: All you need to know about receivables

3. You can be sued

As part of the options available to the lender, after formal notice and / or conciliation attempts, the latter may sue you for the repayment of the outstanding credit. You can therefore be ordered to pay the balance of the loan and interest on late payments. This judgment must be notified to you by bailiff. If you still do not pay your debts, he may have a seizure on your salary or property.

4. You will be less likely to get a new loan

As mentioned earlier, when you face an unpaid credit, you may find yourself on the blacklist of the CCP. Even though each lender defines its own loan acceptance policy, it is obliged to consult the blacklist before granting the loan. If you are on the list, then the lender can not grant you credit under any circumstances;

If you can not repay your loan, talk about it and try to find solutions amicably with your lender. You can also seek help from Ombudsman or other organizations to provide you with the best advice.

Banks are stealing us. But thanks to Dionnere and Dessare, we will be able to recover money, thanks to a mistake made by the bankers when they make a loan. This is the promise, but calm! It is not so simple.

The Dessare is filled with promises for those who have a real estate credit

A few years ago, humorist Dionnere embarked on finance, with Dessare. With its success, it now offers the Dessare, with its credit expertise services, in ” rebellion ” against the powerful players in the sector, to be free from big capital and finance that rots the world. Just that. The phrase that is found everywhere, the “slogan” in a way of Dessare we summarizes all the philosophy sold behind this service that would be innovative and supportive.

We will take advantage of an industrial accident to finance and build our revolution. Since the world can not be changed, let’s change worlds.

Nice promise, I agree right away, but look at his twin Dessare, which is ultimately only an insurance broker like another, or almost. They negotiate the best deal for their client with insurance companies. Nothing rebellious, nothing extraordinary, it is the work of a broker. The major difference is their fees : they are paid by the customer, not by the banks, giving them total freedom to really choose the best deal.

But insurance comparators, who are also brokers, are already doing very well, and for the most part, free of charge : they offer the client several quotes, classified from the cheapest to the most expensive. They are indeed paid on commission by the insurer chosen by the client, but where is the problem? The customer still gets the best quote !

I see in speech a lot of elements of marketing, advertising, but he did not invent anything, and the competition is also present! In any case, it’s the game of advertising, to you to believe if he is sincere or not when he tells you that he would like to found a bank solidarity and independent. Personally, I prefer when he makes funny sketches.

The most common error is based on the calculation of interest using the Lombardy year of 360 days. This is an illegal method and already condemned by the Court of Cassation.

The year of Lombardy, or banking year, is a calculation made over 12 months of 30 days, or 360 days.

Other errors may concern loan insurance, notary fees, brokerage fees. Even the purchase of shares if the loan was made in a mutual bank. If these charges are not found in the TEG, then it is wrong. Otherwise, there are more classic mistakes: wrongful or missing mentions can also condemn the lender.

It must be confessed one thing, in light of what has just been exposed: we do not improvise expert overnight.

For the error to be taken into account, the rate gap must be at least 0.1% : for example, if the TEG subscribes with the error was 3.2% and the “true” TEG is actually 3.1%, we can start legal proceedings.

Namely: if the credit was signed less than 5 years ago, we can start a lawsuit. If the credit is older, it will be necessary to prove that one does not have “particular knowledge in credit”: it is up to the judge to appreciate it. We understand that from the moment you have a report from an expert reporting an error in the TEG, we have 5 years to go to court. If the credit was signed more than 20 years ago, there is a prescription.

 We put “credit” in “By heading or specialty fine” and informs his department. Warning: there are not many specialized experts, there may be none in your department.

MarKet’s review

The whole difference between Dessare and the competition rests on this alleged revolt against the powerful, while waiting to be able to create a real bank. This is only a marketing facade in my opinion, for a service that seems however correct on paper. We will know more in two or three years, when the first judicial decisions begin to fall.

Before embarking on a perilous legal venture, go to your banker to renegotiate your credit. If you really suspect a big mistake and do not have any particular sympathy, go see the competition and what they offer. There is much to be gained, certainly, but also a lot of worries to be made if we miss the money that we advance for the judicial process.

Although interest rates have fallen steadily in recent years, the burden of interest on a loan still plays an important role. In times when consumer credits are being advertised more and more frequently with the 0 percent interest rate, it is important to ensure that the conditions do not become a problem during the repayment phase, especially for long-term loans. Low-interest loans have long been a normality on the competitive financial market.

The Internet is also playing its part in this, since above all direct banks and providers from outside the industry are pushing for new forms of financing. In the search but it is important to respect serious offers and other things.

Low-interest loans – are they serious?

Anyone who has encountered a particularly favorable loan in earlier times has usually looked a little skeptical about where the hook should be. And indeed, the burden of interest rates until the turn of the millennium was one reason why the industry has hardly developed. Loans were still more of a tool for well-heeled citizens who had collateral.

Note:
Only with the big bubble around the banks and the real estate has changed the situation in the market. However, this was not because of a rethinking of the banks, but of a new monetary policy that came from the central banks.

In general, banks are guided both by their investment offerings and loans by the conditions of the central banks. In most cases they do not work with their own money, but borrow the money themselves for the loans themselves from the central banks and pass them on to the consumers.

Note:
That’s why it has been so difficult for companies to get a loan for some time – after the crisis, banks wanted to have collateral that would inhibit lending to small and medium-sized businesses. With the change to the 0-percent interest rate policy of the central bank, however, the loans have also become much cheaper for many consumers.

Meanwhile, interest rates are at historically low levels, allowing consumers and banks alike to benefit equally from favorable conditions. However, this does not automatically mean that any provider that offers particularly favorable interest rates for its loans is also of a serious nature.

It is important to examine the offers carefully and to choose the service providers who provide the right mix of different conditions. Because with a good offer for a loan, it is no longer all about interest rates today.

Note:
Runtime, sum, advice and, finally, fixed interest rates are topics that should always be considered when looking for a good loan.

5 tips on low-interest loans

1. Always pay attention to serious offers

The internet in particular has allowed a wide range of providers to make their services available and, of course, advertise their services. In a quick search on Google for low-interest loans, not all results are equally reputable. At first glance, many providers may offer cheap loans, which can become significantly more expensive over time or under certain conditions – for example, when one installment fails.

Note:
It always comes with a loan on the complete package, which is provided by the provider or by the bank. Paying attention only to interest rates could lead to problems in later years – especially long-term loans.

2. Pay attention to fixed interest on long-term loans

A popular trick with many providers is to advertise with favorable interest rates but not at all to offer them over the entire term of a loan. The so-called fixed interest rate is one of the factors in the search for a loan that is respected by too few people.

Especially for long-term loans, such as loans for real estate, the bonds are set only for a few years. After three or four years, the bank could reassess the interest rate market situation and pass on increased interest rates to consumers.

Note:
In this case, the total amount of his loan would suddenly increase, which of course could lead to problems in the eradication. Therefore, always pay attention to the interest rate.

3. Do not be lured by cheap lock offers

Cheap loans are a popular way to turn prospects into customers very quickly. It is advertised with a variety of forms of cheap loans that are sometimes used immediately. However, there are a few factors that the bank does not write down at first glance – such as the obligation to open an account with them or to take advantage of later offers. In general, a loan should never be taken without a reason.

Note:
You may be able to afford a good deal with a planned purchase – but there should always be the reason for a loan and not the other way around.

4. Compare the offers on the Internet and check

At first glance, a loan with particularly favorable interest rates may seem very good and would be the right choice to survive a financial shortage or make a necessary purchase. As so often in advertising, but here too caution applies to offers that seem too good to be possible. Instead of just getting involved in the offer, it should be checked on the Internet.

Note:
Especially the comparison, which can be found on many websites, is a help here. This will allow consumers to check exactly how the loan can compete with other providers and whether it really is a good deal.

5. Use low-interest loans from retailers

Instead of using the offer of a bank with every purchase, it can be worthwhile to buy instead to use the financing via installments at the dealers. Many companies are now offering their own loan packages in cooperation with banks, for example when they want to buy a new TV.

Note:
In direct comparison, these loans also offer good benefits and conditions and are a helpful way to finance expensive purchases over a fixed period of time.

November 1, 2017 In November, our budget may breathe a bit. Holidays are over, younger children went to school and the older ones started their student year. Until Christmas two more months, but if we want – now we can think about gifts. The sooner we start looking for presents, the calmer the search will be. Even when we are not going to look for Christmas gifts, unexpected expenses can always happen. Payday loans will help us with these planned and slightly less expected expenses. The list of the most attractive offers will facilitate the selection of a favorable loan.

Legotawas does not give the first place

The position of leader all the time belongs to the company Legotawas. The lender guarantees quick help regardless of whether you want to go on a late vacation or buy your son’s dream console for the holidays in advance. It would be a pity not to use the promotional price as a financial injection of up to PLN 5,000 (note – the amount is available with the fifth contract). Customers who apply for a loan for the first time can apply for PLN 2,000. The offer is all the more tempting because we don’t bear any costs. The free payday loan releases you from all fees.

The commitment must be returned within 30 days. In the event of problems with financial liquidity, the loan can be refinanced. Thanks to this, we will avoid the unpleasant consequences of non-repayment, including penalty interest or meeting with a debt collector.

Cashmen is in second place in the ranking

The second place also remains unchanged. It still belongs to the Cashmen lender, which also offers regular customers the amount of PLN 5,000. It is worth being loyal to borrow more and not to worry about expenses at all. The more that there is one more advantage waiting for us, namely a special Bonus Program.

The lender rewards points for people who:

• they pay off their loans reliably,
• invite friends to take advantage of the offer,
• share their opinion on it.

Points allow you to get discounts or take your loan to a higher level.
Cashmen addresses its offer to people over eighteen. You must have an active phone number, email address and bank account.

Netloan closes the lead

The leader, as in the previous month, closes Netloan. In this case, the free loan reaches up to PLN 3,000. We have 30 days to return it. In the case of another contract, we will be able to apply for an even greater amount, namely PLN 5,000. Netloan strives to meet the expectations of its customers and meet their needs. Therefore, it minimizes formalities, and when necessary, it agrees to extend the loan period. Regular customers, in turn, receive favorable discounts.

Payday loans not only for 30 days

Cashmen is not the only company that offers a longer loan period. Although non-bank institutions usually provide a 30-day maturity, some of them want to give borrowers more time. The more that the amount of 5000 PLN is not low and we are not always able to return it within a month.

If we want to borrow more and not worry that 30 days is not enough for us to settle our debt, of course we have the opportunity. We are waiting for the offer of Lendon.pl or Extraportfel, which is just behind the podium, taking 6th place in the ranking. We will have up to 45 days to return the amount obtained. We can also check the installment loans ranking in November and look for an offer there. Installment loans provide even higher amounts with a much longer repayment period. This does not mean that we can stop managing our budget responsibly. On the contrary, we should keep a firm hand on household finances all the time.

Quick loan or cash loan?

Many people wonder whether to use the offer of non-bank institutions or sign a contract with a bank. The second option is worth considering if we need a much larger amount that the lender does not expect. However, banks approach their clients much more rigorously and only after having thoroughly checked the applicant do they grant a cash loan. We can check the cash loan ranking in November and finally decide which institution to choose.

“Chowkils is the best and fastest help in case of unexpected expenses. We are more and more willing to reach for it, because both efforts to pay for it and its repayment are simple and convenient. Thanks to loan rankings, customers can submit their applications almost instantly, and use the funds for any purpose. However, always remember to be reasonable. Its lack may spoil the credit history built over the years,

Acquiring a mortgage does not always mean that you should stay with it until you complete paying it. On the contrary, promoting your mortgage debt could be a good alternative to avoid monetary problems.

The particular payment of a mortgage loan is really a process that can take up in order to more than twenty years

It is far from surprising that circumstances might change, a dismissal, a health problem, an accident, among others, can make it hard to continue paying that financial debt. Given this situation, selling your own mortgage portfolio to another organization allows you to save on monthly installments and get more liquidity in the month-to-month budget.

Nevertheless , before making a decision you should be crystal clear about the three most important elements:

1 . The particular deadlines 

Consider that will in the longer term, the charge will be less, but it may also pay higher interest. Assess what your need is before you make a decision, don’t you have a great deal of liquidity? Do you need to achieve the best possible quota?

2 . The fees 

You must take into account the rate they provide, since that will determine the total amount to be paid. Ideally, it must be a lower rate than a person currently have, which will result in much more comfortable fees.

several. The conditions 

Several entities charge you additional charges for making this change, while some require that the term become longer than what you got in your previous bank. It is crucial to be clear if the needs suit you or if, on the other hand, they would be an barrier.

Not every financial institutions will offer you the same, therefore it is important to compare the options before choosing. Use internet comparators like the one that Studs Lonigan puts at your disposal in order to find the ideal option.

A credit application can impact your budget for several years. It is imperative to know all the facets of a bank loan to be successful.

Reasons for a credit application

The reasons can be many, but everyone goes through the bank loan. Emergency solution sometimes, solution of optimization of its investments, need to carry out works or to offer a pleasure otherwise inaccessible, a request for credit is today a natural act. Many banking institutions are here to help you take the plunge.

How to think well of your credit application?

Before you apply for a personal loan, and whatever the reason for the credit application, it is first of all necessary to ask yourself if you have the means to repay it. It is necessary for that to realize a simulation of your finances with the intended monthly payment.

This is something you can do before you even go to a bank or lending institution. For this, it is important to take into account its cash inflows, as its incompressible expenses and items that can be changed. And it’s up to you to see if funding for a new loan is possible.

Knowing that you can repay a bank loan is a good thing but does not put an end to your thinking. You must also know how to take into account the proposals that are made to you.

Legal rates

For this, the annual percentage rate, the rate charged by the lending institution is of course important. But in the same way that it is not the only element to take into account when you make a real estate negotiation, one must dwell on many points when applying for credit.

Will you allow early repayment, and if so with or without penalties? Does the rate vary a lot from one year to the next? Can you pause in your repayments in case of a hard blow? The terms of a loan are therefore equally important to consider.

But these data are sometimes also more complicated to find or understand. Especially for large sums, you must have the assurance that each condition corresponds to your situation, in addition to having an interesting rate.

The rate applied by an institution for a credit application is not the same from one institution to another. The reasons for this are very varied and include the specialization of the bank in this area, the ability to repay its customers, its commercial policy.

Credit Broker

It’s no secret that loan companies that are not banks tend to charge more for their services than a bank. But this is not an absolute truth either. You must therefore make a comparison on several institutions, and do not hesitate to negotiate the rate charged.

The call to a broker is an interesting solution when your loan application exceeds the 10,000 euro mark. The broker will be your representative to credit institutions. And if he himself takes a commission on the final transaction, his margins of negotiation with your file often allow you to be a winner.

It only works with big files but it’s an idea not to be put aside.

At once so simple of accus and yet so complex in the details, a request for credit must be made in the reflection, the calculation and the comprehension of all the variables to make the best possible operation.