Loan purchase for the unemployed: the solutions! | Loan consolidation

 

The loss of one’s job is one of those bad surprises you never want to live. Unfortunately, when this happens and you have credits in hand, the decline in purchasing power can reduce your ability to repay and put you in trouble repayment.

In some cases, the grouping of unemployed credit also known as buy-back of unemployed credit can be a good solution to avoid over-indebtedness.

Obviously, you will have to convince your financial institution to grant you a loan buyback for the unemployed and we will give you in this article some tips to get there.

Credit consolidation, what is it?

Credit consolidation, what is it?

The credit buyback is a financial transaction that allows as its name suggests to consolidate all its current credits into one which allows to renegotiate the rate of his / her credit and therefore reduce its monthly payments.

This solution allows in certain cases to increase the duration of your credits, always with this aim of reducing your monthly payments. Obviously, a longer credit means a higher total cost of your credit, but a decrease in monthly payments helps to clean up your finances when you are unemployed.

Note that a group of credit is not the grail for a person without a job, since this formula has advantages and disadvantages (including new fees, early repayment etc). It is therefore a solution to be studied on a case by case basis.

In concrete terms, as part of a grouping of loans for the unemployed, the lender from whom you are going to solicit your redemption will pay off all your current credits with the various institutions where you are a client to become your only creditor. It is to him that you will have to repay the capital of your credits plus any expenses.

When signing your credit agreement for unemployed, your monthly payments will be defined so that it does not exceed one third of your income (sometimes a little more).

It should be noted that in some cases, a credit redemption may allow you to reduce your monthly payments by more than 60% and thus contribute significantly to rebalancing the household budget.

Buyback of unemployed credit: specificities.

Buyback of unemployed credit: specificities.

As often the words “credit” and “unemployment” do not mix well and it is often difficult to get a pool of credit when one is unemployed. Your profile is a risk profile and you will have to meet certain conditions to have a chance to group your credits.

This is especially true when you buy back your loan, the financial institution will discharge your other creditors the risk of unpaid by taking over. Some organizations are more willing to accept credit redemption than others.

The main obstacle to buying out the loan for the unemployed is that in France, your unemployment benefit is not considered as an income by the banks who only take it into account to calculate your living income. An unemployment benefit is not a “due” and can be withdrawn after a certain period of time.

So, if overnight, after for example several years of unemployment, you would lose your allowance, you would not be able to repay your loan which represents a sacred risk for the bank.

To convince a credit institution, you must therefore offer a sufficient counterparty to cover this risk.

There is no specific trick to succeed a request for buyback credit for unemployed, it is something that is analyzed on a case by case basis and depending on your profile you will have more luck than another. You will need to offer good guarantees to maximize your chances.

What guarantees to propose to convince?

What guarantees to propose to convince?

Before talking about a guarantee, it is important that you can show the bank that you are not going to be unemployed for years, that you are looking for an active job, that your qualifications make you a good candidate to find a job. job quickly.

With regard to collateral, it is obvious that if you can offer your mortgage home or put a sum of money in a blocked account, you increase your chances of being granted a credit union for the unemployed subservice.

You can also present sureties that is to say a person (often family or friend) who is committed to repay your credit for you if you are no longer able, which obviously reduces the risk for the bank and increases your chances of acceptance.

What credit redemption solutions for unemployed people without a bank?

What credit redemption solutions for unemployed people without a bank?

The best-known solution is undoubtedly the credit between individuals, that is to say individuals who, to grow their savings lend money often through platforms like Younited Credit (to avoid scams). Obviously individuals also need collateral and will not risk losing money, but the human factor is still more important than in the conventional banking system.

You will have to convince, present a bank history without fault, you will have little chance to have a positive answer if you are for example prohibited banking.

What alternatives to avoid over-indebtedness?

Your purchase of credit for unemployment has been refused, here are the different solutions available to you:

  • Enter the over-indebtedness commission: if you are unable to meet all your debts and the loan consolidation has been refused, contact the debt commission which will help you purify your finances.
  • Ask your family or friends for help in paying your monthly installments for a new job.
  • Talk about your problems with your credit agency: some credit agencies sometimes agree to suspend the credit for a limited time.

To guard against such a situation, some credit organizations also offer “job loss insurance” which according to your contract will fully or partially pay your monthly payments over a pre-defined contract period.

Our other file on credit for banned banking

Our other file on credit for banned banking

  • Credit for the unemployed
  • Buyback of unemployed credit
  • Unemployed auto credit

Our other file on the repurchase of credit:

  • Easy credit purchase
  • Bank forbearance redemption
  • Interim Credit Cluster

What is an investment fund, do we really need to put our money here?

In recent days, we have warned our readers that in the future, we will increasingly have to worry about a fall in real yield on deposits. That is, as long as deposit rates remain low, inflation may increase, meaning our money may lose its value even in a bank. It is worth looking at other investments than mutual funds, for example. But what tree does an investment fund do?

Many people are unfamiliar with these products, even though they don’t have to think about complicated dogs. Mutual funds allow us to enjoy relatively small amounts of capital from securities and other investments.

We can get in with small capital because we can buy securities with several investors at the same time. The fund manager manages the assets owned by investors in exchange for a fee. This wealth of assets is needed to reduce the risk of riskier investments as you can build a larger portfolio. There is no way to do it out of our own money, we could only invest in one or two types of securities, which would be much riskier. An investment fund can be subscribed by purchasing investment certificates, the value of which depends on the manager’s success.

Why is a mutual fund more risky than deposits?

Why is a mutual fund more risky than deposits?

The value of the fund, but also the value per unit, depends on the total value of the fund’s portfolio. When choosing a fund, we always have to decide what kind of return we want to achieve and what risks we want to take. Funds represent much lower risks than buying securities ourselves, but here too, the higher risks typically involve higher yields, we must always consider these two factors when investing.

 

What are the types of mutual funds

What are the types of mutual funds

From the point of view of the liquidity (redemption) of units, funds can be divided into two main groups. In the case of open-end funds, the units may be purchased or redeemed on a continuous basis, whereas in the case of closed-end funds the redemption may be effected only after the maturity of the fund, or by liquidation of the fund.

There are public and private funds that are created by the fund manager for a predetermined group of investors.

Legislation distinguishes between basic types according to operational features and the associated investment limits and regulations – writes Bamasz’s website. Thus, besides or within the most generalized securities funds, there are so-called equity funds. index funds (which virtually replicate the composition of some capital market idex), fund funds (only buy units of other funds) and funds investing in derivatives. The latter are characterized by the fact that they are more freely bound to the so-called. derivative contracts that aim either to achieve a higher level of return / risk or, on the contrary, to reduce securities market risks (this is how most funds with guaranteed returns are created).

Loan for anyone without Credit Bureau

If you are aware of your bad Credit Bureau score, you can try to get a credit despite negative Credit Bureau by not accepting the Credit Bureau query and applying for a credit without Credit Bureau. Because your Credit Bureau may only be queried if you agree. The application for a loan without Credit Bureau is made online. The net income for a loan without Credit Bureau is calculated on the basis of dependent children. Of course, it is important for every lender that you can easily repay the monthly installments.

Credit regardless of negative Credit Bureau information

Credit regardless of negative Credit Bureau information

The credit despite the negative Credit Bureau information has been in discredit for some time. Incorrect experiences, reports and much more can help potential customers who do not trust the credit without Credit Bureau information. There are only a few features to get a real loan without Credit Bureau information. What can be applied for without Credit Bureau information?

The loan without Credit Bureau information is usually granted by a foreign bank. These are the states that do not cooperate with the Credit Bureau. Accordingly, no Credit Bureau information can be provided. This has the consequence that a credit is allocated even without Credit Bureau information, even if there were negative inputs. Nevertheless, the loan is not granted without Credit Bureau information.

If self-employed persons want to claim a loan without Credit Bureau information, the latter Federal Labor Office (Bundesamt für Arbeit, BWA) can be placed as a pledge instead of the employment contract. Not to mention the securities, as a normal consumer of Otto’s it is difficult to get a loan without Credit Bureau information. The decisive factor here is that it is difficult for German citizens to come to foreign credit institutions or to conclude a contract with them.

Here, so-called credit brokers are available. This results in commission payments from the potential borrower. The amount of the respective commission is usually determined by the sum of the loan amount. However, special care is needed in cooperation with a credit broker. Advertising with the credit promise without Credit Bureau information can not redeem this.

As a result, potential borrowers only pay high fees for obvious mediation, but never get a desired loan. Before appointing a credit intermediary, some important aspects should be taken into account so that the will to financial flexibilization is preserved and not a catastrophe.

Serious recognition despite Credit Bureau – a miracle?

Serious recognition despite Credit Bureau - a miracle?

What is the significance of loans without Credit Bureau information? That is the question that many people have asked themselves, who do not simply have a loan from their bank. Why should well-known lenders lend without credit report? Normally, only a few banks do so, but there are a number of offers on the net that seem to be geared only to this group, as the Google query “Credit Despite Credit Bureau” proves:

There are already more than 190,000 search results for this search mask of create-free credit alone. Other expressions such as “Credit Without Credit Bureau” bring in more than half a million revenues. But how can it be that there are so many offers in the network and the bank does not want to forgive the loan?

In the Credit Bureau (protection association for general credit protection) over 65 million citizens in the Federal Republic are stored and an internal measured value (Credit Bureauscore) assigned to the determination of the payment security (simply expressed). The borrower will pay his lending interest even more reliably and more likely. Above all, Credit Bureau registers existing loan agreements, accounts, cards, mobile phone contracts, etc. and assesses how reliably the contractor pays the deposits.

Since the exact tax bases are confidential, no general formula for the Shufascore can be published. However, experience shows that the Shufascore is not affected just because you have many orders or you already have a borrower. If the debtor complies with the requirements on time, this could theoretically have a positive effect on the Shufascore.

That’s why many people are looking for Creation-Free Credits because they believe a credit with Credit Bureau information is no longer possible. For some years you can test your own Shufascore for free. Everyone can get their own Credit Bureau information free of charge once a year from 2 May 2010. With repeated call of information in the year each further Credit Bureau information costs approx. 20, – USD over the net.

Why is there a loan without a Credit Bureau provider? Non-Credit Bureau lenders often take advantage of people’s hopelessness and provide loans at very unfavorable conditions in the labor market. Without Credit Bureau, a loan is often paid twice as much as a normal installment loan at the house bank. There are also many providers on the net who advertise with a loan without a loan request, but can never really provide it.

Editorial Tip: If you make a loan request on the web without creating it and pay a 3-digit processing fee after a few days, you’ve come across a dubious lender. Stay away from such offers, in the end you get no credit and still pays: Can I get a loan despite Credit Bureau?

If you want to invest more, online platforms like smava.de are at your disposal, where you can “lend” your capital privately. People with a bad Credit Bureau entry can benefit from such actions. There is a premium for an unfavorable credit rating, but the likelihood of occurrence is much greater than for bank financing.

In addition, the loan amount for a personal loan can also be increased for people with a negative Credit Bureau. But again, the greater the credit risk for the lender, the more expensive the loan. The problem of non-creative loans is repeatedly associated with the name “Swiss Credit”. The award will be made there without credit check or credit.

The lenders of such offers are often dubious and hide behind national borders. If you are interested in a Swiss loan, please use the standard forms of German credit institutions and arrange for them to send you an appropriate offer from the Swiss Confederation. Even if it may sound hard at first, if you do not get credit from your house bank, it has its causes.

If you have a negative entry with the Credit Bureau, you usually have difficulty paying your bill. One should therefore ask the question of whether, despite Credit Bureau now really takes a loan. The same applies to the Christmas gift financing. This will continue to burden you financially and reduce your expenses in the medium term.

If you need some change quickly and easily, then you are in the right place with friends and relatives. As a rule, you will also receive an interest-free or very inexpensive loan and an informal written order confirmation.

Which bank is best to keep our money in?

At Richwin Bank, our main goal is to ensure that the visitors of our site always make the best possible decisions regarding their finances. Instead of tossing small print in announcements, they can compare financial services transparently and accurately. But what if someone is looking for the best bank where you can keep your money safe and get the best possible return? That’s why we’ve created a list of banks that reflect the results of several of our calculators to give you a more comprehensive view of the options.

There is a growing need for more services in a bank. In addition to the transaction fee, low interest rates also force savers not to move their savings often, but to use as many services as possible in one place. That is why we first looked at which bank to hold our money with by examining how much annual fees are used for what can be called average accounts, and what savings of different lengths promise a credit institution. Of course, we also found it important to appreciate the diversity of services available in banks.

Not enough cheap bank account!

credit loan

When choosing a bank, it is not enough just to look at overdraft fees, as most people still keep their money in deposit. Therefore, in our comparison we also evaluated 3 deposit savings. For Deposit 1, we looked at the unconditional return on short-term (6 months) savings of $ 1 million, while for Deposit 2, we looked at the ultra-short savings offered to active bankers. credit institutions. The latter was calculated at $ 200,000, as well as on-sight savings. This may be important due to the weighting of the points, as we have added the yields calculated for these amounts and subtracted the account management cost so that we can rank the banks in our list.

Thus, we obtained half of the points, while the other part was based on the diversity and quality of the services. Of course, there is a subjective part here that we don’t want to deny, as there are bank offers we think are useful and there are some that can only move the marketing machines.

 

Which bank do I take my money to?

Which bank do I take my money to?

So in our list we highlighted the offerings of some banks, green if they were good, and red if they were below average in the field. Based on this, anyone can better personalize which credit institution is right for them. So, keeping a smaller deposit can concentrate more on account management fees, for example. If you want to go even further, let us take ten minutes and calculate where we are best tailored to your needs at Richwin Bank.

EarnWe could only take the first place of our comparison because the Privilegium account family is available through Richwin Bank. Calculated with a Single Account, the picture would have been different. That way, anyone who would bring your money here would definitely want to apply for a cheaper account through an agent, such as the NationBank Calculator. Interest rates are good at the bank, plus you can even save your own home savings, and of course, savings, securities, and other savings. Although the latter are available at almost every other major bank.

 

Sharepoint Bank takes second place with interest

Sharepoint Bank takes second place with interest

But account management is not expensive here either. Most banking services are available and there are few ATMs to worry about since the introduction of free cash withdrawal. As is the case with ASA, where new account packs perform exceptionally well in comparisons, although credit cards are expensive in the field. A person who has a monthly income of 300 thousand dollars, however, can deposit his / her money with the bank on special terms and conditions, since in case of the OKÉ4 account package the bank always pays according to the conditions stated for fresh money.

In addition to the top three, there are great deals at many banks. For example, OPT Simple is one of the cheapest packages, and we can also choose what we need and why we pay, just pay attention to deposits as they are not too high at the largest EarnHope bank. But in return, there are plenty of other savings options, including the best-yielding home savings, but there are mutual funds, insurance.

The offers of uShare Bank would not be bad if the account management could be swam, which could be published, if 1 million was deposited by at least this person in deposit with them. But unfortunately, this can only be done in one eye drawer.

 

Smaller banks are not to be missed

Smaller banks are not to be missed

As Grava and MagNet are at the bottom of the field, and they are lagging behind in services only. On the other hand, a cheap bank account will be easy to find here for many who have only a small savings or are satisfied with the deposits available and TBSZ.

In conclusion , let’s take a good look around the banks and try to make the most of our needs. This can never mean looking for the cheapest bank account or the best paying deposit, at least not until the transaction fees take all our money to one place.

More and more people are asking their boss to pay the installment

Some may find it very important that now, not only home loans provided by credit institutions, but also those provided by financial companies, the employer can enter the repayment, tax-free.

This amendment is included in a bill now being submitted. We looked and thought Aegon’s customers might be the most affected, they could now ask their boss to get on the payday. There are several arguments to convince, but most importantly, there is no more cost-effective benefit for any company. This aid, which is part of the cafeteria, is completely tax-free. There is virtually no better alternative for the worker or the employer when it comes to wage supplements.

Example: For a $ 20,000 loan repayment installment, the employee needs a gross salary of $ 30,535, but it costs the employer $ 39,237 in total, due to different employer taxes. However, giving the same installment under the new subsidy will cost the employer only 20,000 USD. So, in this example, we earn close to $ 20,000 compared to normal wages.

 

It’s not a new thing, my boss still pays for my credit

It

Until now, employer loans were exempt. From now on, the employer can also go into the repayment tranche of loans provided by the credit institution.

Do you think it’s worth asking for support instead of regular wages?

It is important that the wages of the beneficiaries are not reduced. In other words, the salary supplement can only be given in addition to the previous salary. The fulfillment of this condition is examined by the NAV.

Can I get support?

Can I get support?

The grant is conditional on the employee having any ownership interest or usufruct in the property. So you can apply not only for loans, but even for those who have leases.

Your employer can only provide support to those who have what is called a “decent home”. That is, the size of their apartment is “appropriate”. This room and the number of movers are recorded. For example, a family of three may receive support for a 1.5 to 3.5 bedroom apartment.

If we bought a bigger home than the affordable one, we haven’t lost everything yet. Based on the children committed in the future, support may still be available. For example, can be proved by a statement of childbearing submitted to the socpol.

The conditions are checked by the employer or the bank, and after submitting the certificates we do not have to do any more until we submit the statement, in which we agree that the bank may receive our data.

Can I pay my full repayment?

Even so, if the following conditions are met. The amount of the grant may not exceed $ 5 million in 5 years and the total amount of the grant may not exceed 30% of the purchase price or the construction cost.

For an apartment of 10 million, the employer can only pay the full installment if the amount of the remaining installments is no more than 3 million. In the case of higher value housing, the limit of 5 million every 5 years will prevail. Thus, those whose installments amount to more than $ 5 million but less than 30 per cent of the value of the dwelling over a period of 5 years may receive a maximum subsidy of only $ 5 million.

 

Who does my company pay for my repayment?

loan repayment

If all the conditions are met, the boss can transfer the money to the bank. To do this, the employee must provide the credit account number.

Choose the best home loan from us or read our free ebook for lots of useful tips!

Can you resist an ATM that makes money by itself?

Today’s seemingly natural banknote dispensers (ATMs), with significant security systems, were not always as reliable. In this article we will remember the serious bugs of the first types, while also remembering a Hungarian ATM baker.

The world’s first ATM was installed on 27 June 1967 in London by Fine Baclays Bank. According to the story, the director of one of the subsidiaries of De La Calzada, a manufacturer of equipment, came up with the idea that they could also serve machines to meet customers’ cash requirements. So he asked the director of his parent company, De La Calzada, to give him 90 seconds before lunch so he could come up with his idea of ​​a 24-hour cash machine. His colleague measured the time: 72 seconds was enough to convince the director. After that, the development could start soon, which lasted for almost 3 years.

However, these machines were still very rudimentary, so shortly after the London debut, an ATM equipped in Switzerland began to spend money on its own, which residents in the area were delighted with. She didn’t need to be a guide to realize that the electric traversing of the street was causing the machine to do this irresistible charity, with its electrical disturbances caused by its pantograph. However, those who were beginning to study their electric schedule with an approach optimized for accurate charity times were quickly discouraged by quickly correcting the problem.

 

Where was the first ATM?

Where was the first ATM?

However, not only the British but also the Americans feel the invention of the ATM, so a couple of baks have been trying to develop it in parallel with the English. The ceremonial inauguration of the first ATM in the United States was a great success, but it was not long after the storm broke out that the ATM was soaked and the bank’s project manager was forced to continuously wipe off water from the machine in the room behind the machine. At that time, it turned out that the designers had no idea of ​​rain protection in the closed development room, so the card reader and cash dispenser slot were placed vertically in the machine, so that the rainwater flowed in perfectly. This was the story that today these slots are placed horizontally on all ATMs.

Later, a Texas bank wanted to set up its first ATM with a large public squadron, inviting TV, radio and the press. At a very historic moment, the bank president triumphantly inserted the card for the first transaction and then … the ATM immediately swallowed it in front of the live television audience! This might still be the case, but this ATM wanted to make its own debut very memorable, so he handed it back to the bank manager’s surprise, crumpled and torn.

What about Hungary?

atm

The development of ATMs was not completely uneventful in Hungary either. The experts of one of the innovative domestic banks invented a completely transparent bank card in the early 2000s. The idea seemed good, so they made the first prototype. However, as soon as it was inserted into the ATM, the machine went wrong. The developers of the card did not know that the ATM detected the card with photocells, the transparency of which interfered with the unprepared structure. Perhaps this is the reason why transparent credit cards are somehow not widespread in Hungary …

The initial design faults of the ATMs made many technicians sleepless nights in the sixties and seventies, so when the first-generation ATMs were dismantled, mechanics at one of the ATM manufacturing company Docutel were given the opportunity to taste those parts of the machine at several disruptive parties. crushed into dust, which caused them the most annoyance.

There are 7 reasons for the anti-ATM lobby:

There are 7 reasons for the anti-ATM lobby:

Finally, it is worth looking back to the 1960s, when there was a very strong lobbying against ATMs in the US banking sector. Today, the so-called “fun” looks fun. a list of seven notorious names that drove the sails of the anti-ATM lobby. The seven reasons, which were soon disregarded by all consumers without exception, were:

  1. No one will have to learn a 4 or 6 digit code to withdraw cash.
  2. Who will put a plastic card next to your money in your wallet?
  3. Customers will not find it safe to withdraw money from their bank accounts through a single machine without cashier control.
  4. Customers do not want to receive cash at any time of the day.
  5. Banks cannot require customers to learn how to handle cash machines.
  6. Customers will not use these machines because they will not be able to understand these operations.
  7. If customers already have a card, they will use it not for cash, but for purchases.