Free payday loan – how much does it cost if not paid on time?

Contrary to appearances, getting a loan without any additional costs is not so easy. There are several reasons for this.

Free payday terms

Free payday terms

The basic condition we must meet when applying for a free loan is being a new customer. This means that we have never used its services before.

This also applies to borrow a given non-bank company. The second requirement is the repayment. It must take place within no more than 30 days from the date of the contract with the lender. The exception is Extra Cash, which has a repayment period of 45 days for the first loan.

No timely repayment

Free payday loan

If for a variety of reasons, we are unable to return a free loan within 30 or 45 days, it will cease to be a 0% payday loan. The lender treats our negligence as a breach of contract, and thus – automatically charges the repayment of the overdue loan with interest.

Their amount is the same as for payday pay, which normally requires payment of commission and interest costs. To this, he also adds the costs of debt collection activities, mainly reminders, which are in the form of SMSs, telephone contact, email or registered mail. The amount of fees for the remainder of exceeding the repayment deadline and the request for payment is determined individually in each loan company.

A telephone reminder will cost us 5 or 7 USD, but we will pay 19 USD for a letter prompt

Free payday loan

The fee applies to every call received. In some cases, lenders set a limit on the cost of a given form of admonition to an unreliable customer, e.g. the cost of SMS prompts may not exceed USD 20.

In the event of problems with the timely delivery of a free loan, the alternative may be to decide to extend the repayment date. The option is paid, but it gives us additional days for us not to be subject to debt collection activities.

Positive credit history – how to build it?

How to build a positive credit standing? This question often arises when you intend to apply for a loan. The better your credit history, the better your chance of getting a satisfactory amount and good loan terms.

How can you make your story positive? How to build it In the following article we will give you practical advice and dispel all your doubts.

What types of credit history do we distinguish from?

What types of credit history do we distinguish from?

Let’s start with this – we distinguish 3 types of credit history: good, bad and lack of it.

  • You will have a good credit history when you pay your liabilities on time and you are not in arrears with payments.
  • Bad – if you do the opposite – you will have some debts, late payments and no regular repayments.
  • However, no credit history means that you have never taken installments, you have no overdraft or credit card and you have not had the chance to build a good or bad history.

How to build a positive credit history and get a loan on good terms? Here are some practical tips.

Take the equipment in installments

Take the equipment in installments

Regular repayment of monthly installments is the first step in building a positive credit history. Remember to make an informed choice – decide to buy what you really need. Maybe your laptop broke down? Or you need a new phone? Choose wisely so as not to regret it . Also pay attention to the amount of installments – it is important that you are able to pay them every month.

No less important is the period for which you make the commitment. We know – the shorter the better, however, it is associated with larger installments. Also remember that banks require that the purchase in installments be spread over a minimum of 6 months. Currently, many stores and service providers offer 0% installments, which means that you will not pay any additional commission or fees! You will give back exactly what the purchase cost. The choice must be individually tailored to your financial capabilities.

Apply for a small loan

Apply for a small loan

If you already have the purchase of installment equipment behind you, now is the time for the second step – apply for a small loan and pay it back within the set deadline. This step will help you show your prospective lender that you can pay your debts regularly.

Banks and non-bank institutions have favorable offers for people who apply for their first quick loan in a given company – in these offers the APRC is 0% . Browse the offers of various companies and choose the one that suits you best.

Wedding credit: say yes also in winter!

Both romantic and original, winter weddings are more and more trendy! What are the advantages of choosing this time of year? How to make this day unforgettable for all? We tell you all about winter wedding !

Why get married in winter?

Why get married in winter?

Cocooning atmosphere, comfort, conviviality, romanticism, winter can also be synonymous with warmth… If you are lucky, snow will be added to this beautiful day to make your photos simply magical. Getting married in winter also allows considerable savings in terms of reception and services. In addition, whether at the level of providers or your relatives, the winter season often allows greater availability. All the ingredients are there for an unforgettable party!

Winter or summer, a wedding credit (also called personal loan) is often essential to finance a wedding. It is the opportunity to give yourself a budget that meets your expectations to make this day the best of your life!

Specific preparation for a successful party!

Specific preparation for a successful party!

Who says winter wedding says reception inside! It is therefore necessary to anticipate and choose a place large enough to accommodate your loved ones. For optimal brightness, it is also wise to advance the photo session even if it means moving the ceremony at the end of the day by candlelight. Finally, winter wedding yes but polar cold no! Long sleeves, boots, stole, elegant coat, these accessories will enhance your wedding dress and allow you to spend the day warm. Also pamper your guests by having baskets of plaids, scarves or even mushroom heaters in the room.

Must be seasonal ideas

Must be seasonal ideas

To keep the cozy winter spirit, thick rugs, cushions, armchairs and soft lighting will be perfect for a warm decoration. In the same spirit, you can surprise your guests with a mulled wine bar, a chocolate fountain stand or even a soup bar. A wedding in the mountains can also be an original but expensive idea.

Instant credit without Credit bureau for self-employed.

The self-employed have different conditions when borrowing than private individuals who are planning to borrow. Above all, the exceptional professional position contributes to the fact that other factors are weighted in lending than in private lending. Borrowers who are looking for an instant loan without Credit bureau for the self-employed are not without a chance on the market today, because in practice many loans for self-employed without a Credit bureau are marketed today.

Before taking advantage of a particular loan offer from a bank in the direct local environment or one of the numerous online and direct banks, borrowers should make use of an online loan comparison. Financial portals on the Internet also enable the self-employed, freelancers and Co. to carry out an objective comparison for instant loan offers on the Internet without Credit bureau.

Take out instant credit without Credit bureau for the self-employed – this must be taken into account

Take out instant credit without Credit bureau for the self-employed - this must be taken into account

When comparing several instant loan offers without Credit bureau for the self-employed, the interest conditions in particular must be taken into account. Debit and effective interest rates can sometimes differ significantly, so that the effective interest rate must always be selected as a basis for comparison for instant loans without Credit bureau for the self-employed. The effective interest rate takes into account the desired loan volume, i.e. the desired loan amount, as well as the term or the repayment.

Those who choose a short term and a low loan amount see themselves in the same advantage as borrowers who have a high and relatively constant income. The self-employed, in particular, pose a certain “danger” for the banks with their dependent income, so that in practice they have to expect higher interest rates. In the case of an instant loan without Credit bureau for the self-employed, Credit bureau information is dispensed with, so that this is not taken into account when assessing creditworthiness.

Find the best instant loan without Credit bureau for the self-employed – not without a comparison

Find the best instant loan without Credit bureau for the self-employed - not without a comparison

The comparison of several instant loans without Credit bureau for the self-employed is indispensable today. Financial portals in the network provide a free, independent and anonymous comparison of several loan offers, taking into account the term, loan amount, repayment and much more. to disposal. Thanks to the precise naming of the key data, the loan calculator is able to determine the best loan offers for the borrower within a very short time, so that the borrower can benefit from the best interest rate in the long term and save a lot of money.

Loan for bathroom renovation – How to get a loan

A modernization or renovation of a bathroom can quickly cost several thousand dollars. Tiles, fittings, as well as sinks and bathtubs made of high quality materials have a long lifespan, but can also be very expensive. A loan for a bathroom renovation can be obtained from many banks and credit institutions. Direct banks on the Internet also offer loans for renovations.

The loan amount can be determined with the offers of the craftsmen

The loan amount can be determined with the offers of the craftsmen

Especially when real estate is getting old, numerous renovations are often necessary. A room like the bathroom is used several times a day by all family members. New ceramics, tiles and fittings not only look good, they can also save energy costs. Furthermore, the property experiences an increase in value through regular renovations. Since bathroom renovation can be expensive, property owners should get offers from various craft businesses. These offers also serve to determine the required financial resources.

If the renovation is not subsidized by the state because it does not meet the eligibility criteria, the loan for the bathroom renovation should be chosen by a cheap provider.

A current loan can be increased for bathroom renovation

A current loan can be increased for bathroom renovation

Real estate owners can also get a loan for a bathroom renovation online. Direct banks on the Internet are happy to provide loans with a good credit rating and positive Credit Bureau information. Since the direct banks do not have any consulting costs and sometimes also the account management fees, the online loans are generally much cheaper than loans from the house bank or from branch banks. If the property has not yet been paid off, property owners can, in consultation with the financing bank, top up the ongoing financing with the costs of the renovation.

The bank advisor, in cooperation with the borrower, should determine exactly whether this is worthwhile. In many cases, a separate bathroom renovation loan can be cheaper than topping up the current loan. It should also be taken into account that barrier-reducing measures in the housing stock, repair measures for renovation, repair and the rectification of structural defects are eligible. The same applies to structural measures to improve the utility value.

Tenants can also renovate a bathroom at their own expense

Tenants can also renovate a bathroom at their own expense

If you want to renovate a bathroom as a tenant, you should definitely protect yourself. Renovations that affect the bathroom are primarily the responsibility of the landlord. Structural changes must therefore be discussed and also recorded in the contract. Construction measures may be carried out in the apartment if the furnishings no longer meet the usual standards. For example, if the leased item does not have a bathroom, the bathroom can also be installed at the renter’s expense. The tenant thus protects himself against rent increases. Despite the increase in the living value, the landlord may not charge a higher rent.

How to borrow money without leaving home?

An online loan is currently the fastest way to make a cash commitment without leaving your home. An increasingly popular method that allows both to obtain additional funds and to pay for the loan without visiting a bank outlet.

Simplified procedures and quick processes of transferring cash to the applicant’s account become the standard of operation of loan institutions.

A loan without leaving your home

A loan without leaving your home

A minimum of formalities when taking a loan online makes this type of solution gaining popularity regardless of the consumer group and the purpose of the funds.

Despite the fact that services provided by traditional banks are still popular among customers, non-bank loan companies are building their position on the financial market very dynamically. Due to their focus on the clients’ needs, loan companies do everything to meet the specific expectations of consumers.

No formalities

A loan without formalities, and in principle with minimal participation is a simple solution. From the consumer point of view, we distinguish two types of loans: installment and short-term. The latter is also known under the more common name of payday loans.

Installment loans and payday loans are granted by a number of financial institutions without the lengthy processes of approving the decision to grant them. However, while the process of granting a loan is usually very short, it involves signing a contract. Such a document defines the rights and obligations of both parties.

Therefore, it is a form of agreement based on the terms and conditions, which the lending institution undertakes to transfer to the borrower funds in a specified amount and under certain conditions. The borrower, however, undertakes to return the funds within the prescribed period together with the agreed interest.

The advantage of loans granted via the Internet

The advantage of loans granted via the Internet

It is not only the lack of having to leave the house. They are available for almost every individual consumer who meets the basic requirements. The Internet also means that searching for the best offer, we can use comparison websites that will provide us with products that meet the desired criteria.

The advantage of comparison websites is also that they present results for banks as well as companies operating on the non-banking market. In this way, we save a lot of time associated with the need to travel to several branches in search of the optimal product.

No less important fact is internet access to all kinds of blogs describing the essence of online loans. They are made of amateurs, but also recognized experts who pay attention to the most important issues related to payday loans. It is also worth taking a look at the blogs of the loan companies themselves because the best of them contain a lot of information not only for selling financial products but also for educating consumers.

The right loan

The right loan

Choosing the right online loan is the first step to finalizing the entire process. It should be remembered that regardless of whether we choose the offer of a bank or non-bank institution, as part of the decision-making process, these institutions will assess our creditworthiness. Everything will take place automatically and very quickly, thanks to the verification of data about us in various databases of institutions maintaining borrowers’ registers.

When approaching the subject of online loans, many people wonder whether applying for it at a company that is not a bank will also be subjected to a credibility assessment? The answer is simple, yes. All companies that count on the market behave similarly to banks. This is natural because from the point of view of these companies the factor of responsibility is as important as the economic factor.

Thus, thanks to verification in databases, the company knows whether the person who applies for the loan has creditworthiness and is reliable. Therefore, when applying for payday pay at a non-bank institution recognized and recognized on the market, one should be aware that, despite the quick loan granting process, the company will verify the credibility of the applicant. In order not to be disappointed, it is good to check your data in the relevant databases and registers of debtors yourself.

The role of the mortgage lending rate for real estate loans.

Want to avoid one or more loans

Want to avoid one or more loans

Hardly anyone in his life will be able to avoid taking out one or more loans, be it to finance his own house, the new car or the new kitchen. Loans have a not inconsiderable volume, particularly in the area of ​​real estate financing. The APR of the loan is certainly the most meaningful condition when deciding on a particular loan.

In contrast to loans of smaller amounts, the interest rate of which is often determined by the borrower’s creditworthiness, the term of fixed interest and the mortgage lending rate play a role in real estate financing. The loan-to-value ratio indicates how high the share of the real estate loan is compared to the total investment amount.

The bank reserves this difference between the acquisition or production costs of the real estate and the loan amount as security for the granting of the real estate loan.

Lending ratio:

Lending ratio:

The lower the mortgage lending, the better the interest rate conditions that banks grant for real estate financing

Real estate loans are usually granted up to a lending rate of up to 80 percent. It is precisely in this area of ​​debt financing that a certain amount of equity is required. The loan-to-value ratio is important because real assets are subject to different fluctuations in value and exploitation.

In addition, in the event of a non-performing loan, satisfaction from selling the property is only possible with a significant time delay. The lending rates are to be applied uniformly by the credit institutions, since the discounts are based on legal regulations. However, the lending ratios of the banks can still differentiate, only basic approaches are given, on the basis of which the credit institutions can calculate their lending ratios.

The determination methods vary depending on the bank, so that the level of the loan-to-value ratio is also not uniform. The borrower’s creditworthiness can vary in strength. The 80% loan-to-value ratio is probably only granted if the creditworthiness is flawless, and as part of the real loan, some banks will also only finance 60% of the loan-to-value ratio.

While the mortgage lending rates for real estate loans are still quite high, they are significantly lower for other properties, such as vehicles, machines and especially stocks. With these, the fluctuations in value fluctuate greatly and the decrease in value during the term of the loan is considerably greater.

Review Your Credit Card Usage

How do you use your credit card? When used well, it can be an important ally to help your cash flow and make your daily finances much easier, eliminating the need to always carry some money. How about a quick analysis? It only lasts 1 minute!

Okay, maybe it will last a little longer, but not much. Take a look at the points below and get a better understanding of your credit card status.

 

1. How many credit cards do you have?

credit cards do you have?

The ideal would be to have only 1 credit card. With this you concentrate utilization, increase the total value of purchases and thus you are more likely to bargain the payment of lower fees and gain more advantages. After all, for the card company, the more you spend, the better.

In some cases, especially for business travelers, it is interesting to have a second card from a different flag. This is because certain establishments may accept only one type of flag, and increase their total credit limit in case of emergencies.

But if this is not your case, it will hardly be necessary to have several cards. Choose the best of them (with lower rates and higher advantages) and cancel all others.

 

2. Have you paid your credit card in installments?

credit card in installments?

A good indicator of good card usage is that you always pay your invoices on time, in full. If you have to use installment payments, it means you spent more than you can afford.

There are no major problems if this occurs sporadically in the event of an emergency or additional expense required. But be aware of this indicator and turn on the red light if installment payment becomes a routine.

 

3. Are you heavily in debt?

3. Are you heavily in debt?

We are talking about debt and not delinquency.

Debt measures how much debt you have. For example, if you purchased a new television in 10 installments of $ 250 and only paid the first installment, your debt is $ 2,250 (ie 9 x $ 250). Even if you’re up to date with your benefits, you’re still in debt.

Credit cards allow us to take on new debt without us realizing it. As the installment purchase process is very simple, without major credit or registration analyzes, the impression is that there was no financing. But when splitting a purchase “10 times on the card”, remember that you are in debt.

Try to sum all the debts you have, that is, all that you still have to pay on the card. As a general rule, this total amount should not exceed 20% of your total salary. Well, this percentage can vary greatly according to your other expenses, so it’s just a reference.

Track the total amount of your card debt and keep it always decreasing, not increasing.

 

4. Teach your children how to use the card well.

4. Teach your children how to use the card well.

In the past there were no cards and we only used the cash or check. In the future, there may be another even more modern way to shop.

So do not be afraid of the card. Teach your children (or relatives, or friends) how to use the card well. And enjoy!