Month: February 2020

Online loan without income

by admin

It would have been unthinkable a few years ago to be granted a loan without income or with a negative Credit Bureau. In the past, only borrowers with a high income, a positive Credit Bureau and a high credit rating were allowed to borrow.

In order to win new customers for themselves, numerous banks have revised and changed their access requirements, in particular the growing number of online banks has intensified the general trend and caused significantly more competition between the individual providers. With the proliferation of the Internet in private households and the increasing number of online banks, borrowers have also become more likely to find an online loan without income.

The online banks in particular are proving to be the ideal contractual partner for a borrower with no income due to the low interest rates and flexible contractual terms. If you want to find an online loan without income at the best conditions, you should not avoid the loan comparison on the Internet, especially the significant increase in offers has made the comparison significantly more difficult, loan calculators on the Internet today help to find the best loan offer for a borrower without income.

Secure online credit without income at the best conditions - this should be taken into account when comparing

Secure online credit without income at the best conditions - this should be taken into account when comparing

Especially people without income who only have unemployment benefit 1 or unemployment benefit 2 should pay attention to the interest when comparing several loan offers. In general, a distinction must always be made between target and effective interest. As a borrower, you should never be misled by a low borrowing rate, the borrowing rate is just an adjusted form of the interest rate, in which neither individual factors nor fees etc. are taken into account.

However, the effective interest rate is of crucial importance for the total loan costs. In contrast to the borrowing rate, the effective interest rate also takes into account individual factors such as the borrower's creditworthiness, the term and loan amount as well as the fees charged by the bank for the provision and management of the loan. Unemployed people in particular, who have no earned income, should be able to provide positive Credit Bureau information, as this provides information about the payment behavior of the borrower.

Last but not least, borrowers without income should choose a loan with a short term and a low loan amount. Banks estimate a low risk and a capital commitment when lending, which means that especially borrowers who opt for a low loan amount can benefit from low interest rates.

Find online loans without income at the best conditions - use loan calculator and save a lot of money

Find online loans without income at the best conditions - use loan calculator and save a lot of money

By using a loan calculator, borrowers without an income can make a comparison taking individual information into account. The low comparison effort is very often offset by high savings.

How to build a creditworthiness? 5 steps to improve

by admin

 

Creditworthiness is extremely important for anyone who intends to apply for a loan. Even if today we think that we do not need loans and we do not want to finance any purchases with them, sometimes there are situations that can change this state of affairs. With credit we can finance not only pleasures in the form of a holiday trip or gifts for loved ones. Often, extra money is also useful for unexpected expenses, renovations, the need for medical treatment or when buying a property. There are so many purposes for which we can use borrowed money that it is worth taking care of your creditworthiness so that in the future - if you need a loan - you won't have any problems with it. How to build your credit rating? All you need to do is follow a few tips to be credible in the eyes of credit institutions.

It is worth having a commitment to prove your ability to pay it back.

It is worth having a commitment to prove your ability to pay it back.

Very often, loan applicants are surprised that they receive a negative response from the bank, while they have never taken any loan before. However, the bank argues accordingly: the customer may have the ability, but you can not check whether he is paying. Even the purchase of small equipment in installments, having a credit card or regular repayment of the smallest cash loan can help a lot in assessing creditworthiness. It is worth remembering to shape your positive credit history.

Only what is documented is what counts.

Some loan applicants are surprised by the negative decision because of too low income. When calculating creditworthiness, income from the last few months is usually taken into account. Remember, however, that it must be fully documented income. The bank cannot consider remuneration paid without confirmation or income obtained in the shadow economy. If we want salary bonuses or allowances to be taken into account, they must also be documented and affect the bank account.

Timeliness is the key.

Timeliness is the key.

Even in the case of very high income and permanent employment, creditworthiness may cross the shoulder of timely repayment of previously held credit obligations. The Credit Information Bureau, to which banks send inquiries regarding our timeliness, stores information on our loans up to five years from their full repayment. If we apply for a new loan at that time, and we adjusted the previous one in an unreliable manner, the bank may refuse to grant us any amount for fear that we will do the same. Therefore, your existing obligations should be settled in a timely manner and in accordance with the contract.

Co-borrowers can help.

Building creditworthiness is very important, but if we need credit quickly and our income is not enough - people who join us with such credit can help us. Their creditworthiness will help ours, but it must be remembered that they also take responsibility for the timely repayment of the contracted obligation. Most often, co-borrowers appear when taking out mortgages. They are spouses, parents and other family members.

Reaction during troubles.

Reaction during troubles.

If we already have any credit products and financial problems have arisen that prevent them from being repaid - do not wait until it is too late. It is worth immediately reporting to the bank to renegotiate loan terms, ask for lower installments or new repayment terms. Thanks to this, we will avoid unwanted entries in the debtors' registers and any wasted creditworthiness. The timeliness of paying your debts is important for the next few years, so it's not worth waiting for banks to claim their debts. Thanks to the quick response and spreading the commitment into more convenient installments, we can wait out the difficult financial situation, while ensuring that the credit history is still positive.

Credit insurance, installment insurance – do I need that?

by admin

The Good Finance insurance pays the monthly installments for your Good Finance to the good Finance bank if one of the defined claims occurs. For most insurance companies, these are involuntary unemployment and inability to work due to illness or accident. If you are completely unemployed (you are no longer working), the insurance company will pay you back in boots.

In our opinion, insurance is recommended if your household budget is dependent on a single income, or if your budget would come under severe pressure due to the loss of income from boat users.

The insurance covers important, relevant claims and gives you financial security. Please note, however, that only cases of damage on the foot are insured in boat owners (= policyholder) and not the claims of all family members. This means that if Mr. Meier has signed the Good Finance and the installment insurance, then only Mr. Meier is covered by the insurance, even if Ms. Meier's income was included in the application and in the budget review. If Ms. Meier should lose her job, the insurance company will not pay.

The devil is in the details! - The General Insurance Conditions

The devil is in the details! - The General Insurance Conditions

With exclusions and deadlines, insurance providers keep their own costs low without reducing the attractiveness of the insurance at first glance. As a consumer, it is, therefore, worthwhile to take a close look at the General Insurance Conditions (AVB), in particular with "Exclusion", " No claim ... ", "Waiting period" or " Limitation of benefits".

"Exclusions": With most puss in boat insurance, "existing ailments" are excluded. Read this part carefully, because we all have a little sore throat, which we like to forget in everyday life. The insurance experts will certainly not do this when it comes to providing the service for your claim. “Extreme sports” are often also excluded. Since very few of us are skydivers or deep-sea divers, these exclusions should only be in the way of a few of us. But what about motorcycling or snowboarding? Some providers also exclude them.

“Deadlines” usually mean that the insurance company only pays the first installment to the Good Financebank after the deadline has expired (e.g. 30 days). This means that in the event of a claim, you have to wait a month for the insurance to start providing the service.

The grace period is significantly more insidious

bank

Then the “grace period” mentioned above. During the waiting period (e.g. the first 60 days of the installment insurance), a claim is completely excluded from the insurance.

Example: Mr. Müller received a kiss in Boots on July 1 and also opted for the installment protection insurance. On August 15, 46 days after the start of insurance, he receives notice of termination from his employer. Because this claim occurred within the 60-day waiting period for unemployment, Mr. Müller does not receive any benefits from the installment insurance for this claim, even after the waiting period has expired.

“ Limitation of benefits” at DenPuss in boat insurance usually means the duration of the benefit in the event of a claim. Specifically, this means, for example, that in the event of involuntary unemployment, the puss is paid in boat installments for a maximum of 12 months (e.g. at Genworth). If you still haven't found a job after 12 months, the insurance benefits will still end and you will have to pay for the installments from month 13 onwards.

The maximum benefit paid by the insurance company

The maximum benefit paid by the insurance company

(ie the maximum number of monthly installments in the event of unemployment and incapacity for work, or the maximum repayment amount in the event of complete unemployment) is often limited to the term of the insurance. For example, Genworth limits the number of monthly payments to 36 over the term of the contract.

Important: Read the general insurance conditions carefully, because only you know which exclusions are relevant in your personal case. And in order to be able to compare the insurance benefits with the price, you need to understand the most important pillars of benefits.