Home Loan Insurance – Easy to Obtain Credit.

Good news for borrowers who see in the recent opinion published by the Advisory Committee on the Financial Sector (CSSF) a way to overcome the obstacle of equivalence of guarantees. Pending the effective application of these provisions, they can still compare their current borrower insurance with the offer of mortgage loan insurance or that of another insurance broker.

From the guarantees taken into account

From the guarantees taken into account

Unless you use the various loan insurance comparators available on the Internet directly, it is entirely possible to compare your current borrower insurance with other offers such as macif home loan insurance. In general, certain guarantees remain unchanged from one insurance to another.

These include the death guarantee and the total and irreversible loss of autonomy guarantee (PTIA). It is at the level of guarantees on incapacity for work and on invalidity that things get complicated. The differences between insurance contracts mostly relate to 4 essential points.

The first criterion is the method of reimbursement, namely compensation or lump sum. The first hypothesis is more interesting for the borrower, since the repayment is done almost automatically. With regard to the second hypothesis, compensation does not become effective until your income actually decreases.

Other points to watch for loan insurance

Other points to watch for loan insurance

To compare macif home loan insurance with that of your bank, you should also look at the deductible. This is the period between the start of your work stoppage and the insurance compensation. Generally, it is 90 days, but can extend up to 180 days in some contracts. In addition, you must be particularly vigilant about the terms used for the incapacity for work guarantee. Indeed, for some contracts, incapacity for work results in the borrower’s inability to exercise his profession while for others, it means the inability to exercise any profession.

The difference is significant, because if you are a carpenter and you have broken your hand, the insurance may very well refuse to activate the incapacity for work cover in the second case since, for it, you can perfectly become remote adviser in a call center or car salesman. Finally, to avoid disappointment, carefully study the exclusions provided for in each contract as well as the level of support in the event of disability.

This page specializes in loan insurance for people who make an easy and quick loan to acquire a property.

Loan insurance

Loan insurance

When taking out an easy loan without proof, taking out insurance is always recommended, although in most cases it is optional. However, taking out insurance has several advantages, including the preservation of the borrower’s family in the event that, for one reason or another, he can no longer honor his commitments.

How do you get out of debt and start saving? – SOS Debt

To face a debt situation, everyone will have to take a certain number of measures to get out of debt and return to balance; or even start saving again. The first measure to be taken urgently is to stop the use of credit, whatever its value. Although it seems obvious, resorting to credit again when you are already in a debt situation will only worsen your situation.

The absolute need to dispense with credit to cover your expenses.

money loan

And in order to help you better manage such a situation, do not hesitate to get in touch with a bankruptcy trustee whose skills and experience will no doubt be of great help to you in helping you out. That said, don’t wait until your situation reaches a critical point before knocking on the door of a trustee. The ideal for you would, moreover, be to appear with him as soon as the first difficulties appear in the repayment of your installments.

This will have the advantage of maximizing your chances of getting out of this debt situation as quickly as possible.

money loan

Also remember to make a diagnosis of your situation because before trying to provide any solution to your over-indebtedness problems, you must, first of all, think about identifying the causes. Then you can more easily find the most appropriate solutions to the specifics of your situation.

Once the diagnosis has been established, you will need to set up an action plan, the different stages of which should enable you to gradually get out of this debt situation. To do this, you should, first of all, start by eliminating all kinds of unnecessary expenses to keep only the necessary expenses. This step alone should already allow you to drastically limit your spending in order to put an end to your deficit to put your finances back in the right direction for a return to financial equilibrium which will not be when a matter of time.

You apply yourself to scrupulously respect this action plan.

Thus, this action plan will include in particular the order to pay all of your debts which must provide for the repayment of the debts with the highest interest rate in the first place and so on until the repayment of all your debts. From then on, you will be able to start saving again in order to replenish your capital on which you will be able to rely when you carry out your various projects, without having to resort once again to the credits that led you to over-indebtedness.

Car loan despite short-time work

A car loan despite short-time work is not easy to get. Even if the job is preserved for the time being, there is no certainty that it will remain so in the future. If this is not the case, the path to unemployment is pending, which would eliminate the most important credit security that is provided with the regular monthly income. However, the chances of lending can be significantly increased if a second borrower or a guarantor is available. However, this person would have to meet the credit requirements and should not be on short-time work. A fixed income and a positive Credit Bureau information would be essential here.

dealer loans

dealer loans

Many people choose not to take out a car loan from the bank but directly from the dealership. There are several reasons for this. In any case, the fact that lending and repayment can be made much more flexible plays a role. This gives the customer the option of making a down payment on the car, which can reduce not only the loan amount, but also the term. In addition, most borrowers in the dealership can decide whether they want to get a classic car loan, a car loan with a final installment, or three-way financing.

Foreign loans and credit intermediaries

Foreign loans and credit intermediaries

Anyone interested in a car loan from abroad without Credit Bureau should be able to demonstrate a secure income. A car loan despite short-time work should therefore be very difficult to realize. In the event of a rejection, the only option left would be to call in a credit broker and to search for a car loan despite short-time work. However, there can be no guarantee that successful loan brokerage will actually occur. In any case, it is strongly advised to compare all available offers and not rely solely on the statements of a credit broker. This is especially true when he makes unrealistic promises, charges in advance or claims that it is no problem at all to get a car loan despite short-time working on the prospective loan.

How to save money with the purchase of consumer credit? – Credit easy to obtain.

When purchasing power falls and debts accumulate, we find ourselves at the foot of the wall. Fortunately, smart alternatives such as buying consumer credit can get your head out of the water. It is an ultra simple concept that provides many benefits to the taxpayer.

Credit repurchase: what is it?

Credit repurchase: what is it?

The redemption of debts consists of borrowing from a financial or banking establishment on advantageous conditions to repay all of its outstanding credits, a priori much less profitable for the taxpayer. To do this, it will be necessary to ensure that the single credit rate is lower and contractual. The new bank then liquidates in advance the credits caused by the old, for a few costs (penalties, handling fees and other).

Every individual does well to take into account several parameters before embarking on the purchase of consumer credit, find more information on this page, including current market trends, the remaining term of old credits, or the conditions of the new loan .

The advantages of buying back credit

The advantages of buying back credit

The advantages of buying back credit differ depending on the lending institution. That said basically, the goal is to reduce charges and interest and then save money on its old monthly payments at a rate of around 60%, which can be reserved for a particular project or just to save.

We have less calculation to do since there is only one credit left in all and for everything. The subscriber must therefore pay monthly payments and a fixed rate. As a result, he has more time to repay this new loan taken out. In addition, in many cases, the borrower chooses his monthly payment according to the state of his finances.

Several financial institutions offer this type of service today. Besides, to find a good deal, you just have to go online, send an online request, compare the offers so as not to be tricked, and proceed with credit consolidation. Speaking of comparing offers, several tools such as online credit redemption simulation have been made available to everyone on the Internet to make their job easier and prevent the risk of losing money on this type of financial transaction. 

Computer Loan Comparison January 2020

Surfing the Internet, playing games, shopping online, doing office work, listening to music, watching films, being creative – almost no household is missing a computer today, because it opens up the online world and is used in many ways.

Computer execution and credit choice

Computer execution and credit choice

The trade offers a large abundance of computers – for the beginner as well as for the professional and also self-employed and start-ups who want to set up a home office, rely on the right equipment, which is reflected in a loan for the computer and the extensive accessories can be realized. Depending on the target group, private or business, the credit options differ. The price for a PC depends on its performance, it is also determined by brand names, design as well as hardware and software equipment. Often, various components can be bought separately, which must be included in the loan amount.

Eligible as a loan for a computer, overdraft, installment loan and on-demand loan as well as the special loan for self-employed and freelancers. The installment loan and call credit variants should be freely available loans that are not tied to a specific purpose.

Take advantage of overdraft or on-demand credit for the new PC?

Take advantage of overdraft or on-demand credit for the new PC?

The price range for computers is wide. Cheap models are available from 400 USD. If the price is in the three-digit range, it is obvious that the overdraft facility is used up for quick realization. Basically, this is an option that can be used with a corresponding credit line.

The characteristics of the call credit are the same as the overdraft facility. However, the borrower benefits from a much lower borrowing rate. The credit line is determined according to the borrower’s credit rating. Direct banks offer the call credit for an unlimited period and with flexible repayment. There is a monthly minimum amount for repayment, in addition, special repayments or early settlement of the credit account are possible at any time. Whether a credit line is available for individual purchases depends on the purchase price of the computer. The minimum loan amount is usually 1,000 USD.

Installment loan for the top computer

Installment loan for the top computer

The credit for a computer is particularly important for high-priced devices. High-quality high-tech computers, the purchase price of which is in the four-digit range, are to be financed with an installment loan. The borrower receives the entire loan amount in one payment, the repayment is made in constant monthly installments over the specified term. The borrowing rate is also fixed for the duration of the term. Special payments or early redemption are not provided for in this credit model, but may be included as an extra for some offers.

Computer loan for self-employed & freelancers

Computer loan for self-employed & freelancers

The step into self-employment involves investments, a computer is the basis. Therefore, a loan for the computer is often considered. Some direct banks offer the loan to the self-employed at their free disposal. Alternatively, start-ups can also contact institutions that provide promotional loans for start-ups. 

Consumer credit: Guide, advice and good plans.

Are you in love with the latest electronic equipment in vogue? Is your apartment in need of a facelift? Stop looking for a financing solution! The answer to your project is consumer credit ! Accessible, flexible and inexpensive, it is available under different types of contracts that meet each client’s project. Consult your bank, your insurer or directly your commercial sign to subscribe to a consumer loan adapted to your financial situation.

Now better informed and more protected by French law, more and more consumers are resorting to this financing solution. Each project has a solution and a bank loan contract offering reasonable repayment terms and interest rates. Credit repurchase, early repayment, loan to two, payment in several installments, consumer credit adapts to your financial situation and your desires.

What is consumer credit?

What is consumer credit?

Consumer credit is a bank credit intended for the financing of consumer goods, that is to say neither real estate nor professional destination. Consumer credit can only be obtained by individuals. It includes several sub-types of unrestricted loans such as the works loan or the personal loan and certain restricted loans.

Consumer credit, commonly called “consumer credit” has the distinction of being unaffected. It is not intended for the financing of a particular good or service, as the car loan is used for the purchase of a vehicle or the works loan for the performance of domestic or construction work.

It is, in general, subscribed by customers facing financial contingencies (health, family event, back to school etc.) or wishing to finance a personal project (travel, decoration, purchase of a particular property, studies). The borrowed amount can be used in several installments, for several projects. The lending institution does not require proof of project, unlike so-called affected credit such as car or motorcycle credit for example.

Consumer credit is derived in several forms, the main ones being:

The appropriations allocated. The purpose of these is to finance a certain good or service, defined in advance and requiring proof of project. Home loans, cars, motorcycles or certain work loans are assigned loans.

Personal loan. Find all the information relating to the personal loan, our advice and the opinions of Internet users on our dedicated page by clicking here.

Revolving credit. This type of credit has the distinction of being offered by commercial brands. Behind the proposal to pay in installments is a loan, so be careful! With a maximum duration of 1 year, renewable, it is a conventional credit, that is to say the borrowing of an amount by an individual from a bank to finance consumer purchases, without proof. Easy to obtain and without initial contribution, it constitutes a real incentive for consumption, or even over-indebtedness.

Free credit. Also offered by commercial brands, free credit is a zero-rate loan. The amount borrowed is the amount repaid. However, one must meet eligibility conditions to get this loan. All about free credit. Please note, a free credit gives rise to administrative fees or guarantee requests which can turn out to be high!

When a consumer subscribes to several credits, he has the possibility of carrying out a credit repurchase, that is to say of grouping all his credits under one thumb. The advantage of this approach is to have only one deadline, one monthly payment and one lender to whom to contact! Find all the information on buying back credit by clicking here.

Depending on the loan taken out, the loan duration, the amount concerned and the lending institution, an early repayment of the loan is not always possible, or advantageous. The early repayment is the repayment of part or all of the amount borrowed before the scheduled maturity. Get more information on prepayment.

How to take out a loan?

How to take out a loan?

Do you want to take out a bank loan to finance one of your projects? Start by doing an online consumer credit simulation to determine the type of loan suitable for your project and its cost. Make an online simulation. Find out about the types of loans available to you: personal loan, work loan, car loan, etc.

Gather the necessary supporting documents in the loan application file to show your seriousness and motivation to your lender! You will need – in addition to the classic identity documents – a bank details, proof of address, even a proof of project etc. Click here to find the complete list of supporting documents.

The word in addition to the editorial: Remember to check that you meet the eligibility conditions ! Consumer credit is intended to be easily accessible, but banking or credit institutions can be cautious. Are you eligible?

The first element to consider is the type of loan offered by the bank or credit institution. Is it suitable for your project and your situation? Then it is recommended to consider the proposed rates, that is to say the interest rate (fixed or variable, its amount, etc.) applied to the term of the loan.

Finally find out about the terms of the contract, including the requirement or not of initial contribution, application fees, guarantees to provide, terms of end of contract or early repayment. It’s about leaving nothing to chance! Click here to view our page dedicated to consumer loan interest rates.

How do I know my repayment capacity before taking out a bank loan?

How do I know my repayment capacity before taking out a bank loan?

The repayment capacity of an individual is his ability to financially assume the monthly payments relating to a bank loan over the entire duration of the loan taken out. The borrower is invited to check this capacity before subscribing to a bank contract. The lender is – in any case – required to validate this capacity as well as to consult the National Files of Incidents and Repayment of Credits to Individuals (FICP files of the Banque de France) before granting or not a credit to a particular. The objective is not to refuse a loan to a potential client but to avoid any situation of over-indebtedness !

To find out if you meet the repayment capacity condition, the calculation to be made is simple / Compare the total amount of your annual income and the total amount of your expenses. Multiply your net income by 33% then deduct the charges.

The editorial bonus: Beyond a debt ratio of 33%, the client is considered to be over-indebted! Indeed if more than a third of his net income is dedicated to the repayment of credits, the customer is very likely to have big financial difficulties. And therefore to no longer be able to repay your loan (s).

The editorial boards

The editorial boards

The team of company has consulted offers from banks, insurers and other credit institutions. We visited and compared the online simulations offered on the Internet. We now share with you the fruits of our research.

Do not neglect the work of information and comparison of the offers that we offer you. It will be more advantageous for you to take out a bank loan adapted to your project and offering you the most optimal possible conditions for its repayment.

Compare the offers of bank brands, consult the opinions of Internet users, compare with the offers of new players on the credit market (online banks or loans between individuals for example) in order to form an objective opinion on your loan. Leave nothing to chance! Make an online simulation.

Do not hesitate to use one or more simulation tools to guide your research.

Consult the various loan issuers and have a professional accompany you. He will be able to better guide your choice and negotiate interest rates or contract terms.

Find out about trends in the banking market, the price of your currency (euro, dollar, etc.) and interest rates. Borrow at the right time and at a reasonable rate! What are the interest rates offered?

A loan is a commitment. Be sure of your repayment capacity before taking out a contract and committing yourself.

Don’t hesitate to borrow a little more than just the purchase amount of the targeted good or service. We are not immune to the unexpected!

Negotiate the terms of reimbursement, cancellation or end of contract.

The law regulating consumer credit

The law regulating consumer credit

Certain banking and legislative procedures regulate all types of consumer credit. First, any credit organization must inform the borrower of the terms applied to the credit and its repayment, the risks of over-indebtedness. They are required to remind customers of their commitments. The latter will also be offered a second credit offer, a repayable credit for example, so that he can compare the two proposals. Finally, the lender has a duty to inform and is required to check the creditworthiness of the potential borrower, and this every 3 years.

Consumer credit is regulated and strictly framed by French law. It was the subject of several reforms, in particular in 2014 with the Pinel law which aimed to revive the real estate sector in France by facilitating the financing of housing construction by individuals.

Thanks to a significant tax reduction and a facilitated credit system, the State encourages individuals to build new housing, intended for rental for at least 6 years, in order to revive the economy and allow more many become homeowners and build long-term capital.

At the dawn of 2017, the Hamon law reinforces this regulation and aims to better inform and protect consumers against the abuse of commercial signs. This law acts mainly on the daily life of households. It restores purchasing power to consumers to encourage the recovery of the economy through consumption and demand. Insurance, food, health, credits, guaranteed purchases, the consumer is now protected and reassured to consume in peace. 

The editorial credit example:

The editorial credit example:

You wish to redecorate the decoration of your main residence and estimate the cost of the works at $ 7,425. For safety and security, you decide to borrow a little more to deal with unforeseen situations.  You subscribe to a personal loan of $ 8,000 over 12 months at a fixed interest rate of 0.95% excluding insurance and charges.

There will thus be 12 monthly payments of $ 670.07 and the total amount to be reimbursed will be $ 8,040.84. If you wish, you can get more information on credit work here.

In short

In short

How do you know which loan is best suited? We base this comparison on a quality-price ratio, the accessibility of the contract and its constraints.

  1. Personal loan. Classic, reliable and quick to obtain, this banking contract is the most subscribed by French households. Indeed, it does not require proof of project. The borrower therefore uses the amount borrowed when he wants, for what he wants, in one or more times! He is free to use his capital. Flexible, the amount of a personal loan is between 200 and 75,000 $ over periods adapted to each client (between 3 months and 7 years in general). Elected consumer credit number by our editorial staff, we invite you to consult our dedicated page to obtain all the information on this banking contract.
  2. Free credit. With such a promising name, one can only be very interested! This type of bank contract offers a zero rate loan, ideal for small budgets! In return, it requires reimbursement respecting deadlines and solid guarantees. Renowned for its reliability, it is very popular with customers.
  3. Revolving credit. Very accessible and quickly concluded contract because it is proposed, subscribed and often concluded directly in store, it constitutes an ideal and fast solution for large purchases requiring a small financial advance. With no initial contribution and renewable every year, this loan is regularly taken out by many consumers. But beware! Under its attractive attractions are hidden some unforeseen costs in the calculation of the customer. In no case is the contract signed with the commercial sign but with its bank. The contract therefore includes administration fees, warranty fees or reimbursement terms which are not always advantageous for the client. Do not rush on the first attractive commercial offer! Your bank can also offer you revolving credit at a reasonable rate.

 The 10 most common credit reasons in Germany

There are several reasons in life to take out a loan. If the money for a spontaneous or important occasion or an acquisition is missing, you have to borrow this money and then pay it back to the lender in mostly monthly installments.

The comparison portal Best Bank has now published an evaluation of the top 10 credit reasons with the average loan amount. In the following we also present this list.

Top 10 credit reasons

10: Dentist treatments

10: Dentist treatments

We’ll let our little bit cost us something. Anyone who doesn’t have such healthy teeth anymore wants to have a film star smile. For this, a loan is gladly taken out, which is now even brokered by some dentists. Since the health insurance companies are far from paying for all services, the total costs for veneers, inlays, implants, crowns, bridges or generally for third teeth tend to rise to five-digit levels.
Average: 5,767 USD

9: wedding

9: wedding

The most beautiful day in life! And you don’t want to embarrass yourself with an average wedding in front of your relatives and friends. To do this, you dig deep into your pocket – or just take out a loan and then quietly and secretly repay it – possibly also with the income from monetary gifts. The interest rate on wedding loans is usually also higher, since it cannot be attached
Average: 10,328 USD

8: Travel and vacation

8: Travel and vacation

Traveling is the pleasure of the German. Whether cruise, beach vacation or winter vacation – if the travel budget is tight, a loan is taken out. How else do you stand in front of your colleagues and friends when you have nothing to report from your vacation. You can find more information on the holiday loan on our topic page.
Average: 5,382 USD

7: motorcycle

7: motorcycle

Freedom on two wheels. The adventure of motorcycling makes men’s and women’s hearts beat faster. A loan is often applied for. But you should also consider that motorcycles cause consequential costs due to higher safety requirements – e.g. inspections, more frequent tire changes and possibly also a garage.

6: New cars

6: New cars

New cars are coveted status symbols in Autoland Germany. Due to the rather high acquisition costs, 70 percent of all new vehicles are leased or financed. Auto loans are usually brokered by car dealerships – an interesting additional business. You should therefore look for other cheaper loan offers for your new car in terms of loan costs. Since the car is an attachable asset, interest can sometimes be lower.

5: renovations

5: renovations

Whether beautification or legally required modernization – if the necessary financial means are not available, a lender must advance it. Since it is a long-term investment in your own property, the interest rates are usually lower. Such loans are also supported by development banks or some credit institutions. The new roof, the heat-insulated windows – if the measures also improve the energy balance, you will save money in the long term and thus protect your wallet and the environment.
Average: 10,641 USD

4: furniture

4: furniture

Germans like to dig deep into their pockets for the interior and the furniture. If there is not enough money there, only the credit remains. Since the goods are durable, a lower interest rate can be expected for the loan.
Average: 7,916 USD

3: Overdraft facility compensation

3: Overdraft facility compensation

You quickly slip into the overdraft facility. And if you end up there regularly month after month or if you don’t come out at all, that’s a worthwhile source of income for the bank due to the exorbitant, mostly double-digit interest rates. In order to recover the current account again, taking out a consumer loan can be worthwhile. At least eleven percent of the loans examined are used for debt rescheduling. It should be noted, however, that your own discipline should ensure that upholstery is adhered to in the future, so as not to slip back into the overdraft facility and at the same time pay off the other loan.

2: debt restructuring

2: debt restructuring

In addition to the rescheduling of a overdraft facility, the second most common reason for a loan, at 22 percent, is the rescheduling of other loans. In times of low interest rates, this can be worthwhile, especially with large loan amounts such as real estate loans – but one should take into account the compensation costs for the previous loan provider and compare the savings.
Average: 19,673 USD

1: Used car

1: Used car

The Germans most often take out a loan to finance used vehicles. This affects around 27 percent of the loans. Used cars are also an attachable good – so interest rates are usually below the 5 percent mark.