Payday loan help debt consolidation -Choose debt consolidation near me now

Choose debt consolidation near me now

When people start to experience financial difficulties, they often visit De Debt now >>> and consider debt consolidation loans as a way to solve their debt problems. They do this in order to reduce their interest rates and combine all their payments into one reasonable monthly payment.

Financial institutions often ask for collateral when they apply for a debt consolidation loan, especially when someone has difficulty managing all their payments. They want to make sure that, in any case, they will recover the money they have lent.

So what if you have nothing to offer as collateral? Many people use a credit card to pay other debts at an interest rate of 20%. Others apply for an unsecured loan from a finance company at 30% or more. But if you are trying to reduce your debt, it is highly likely that these routes will not get you going very quickly, because much of your debt repayment will go directly to interest, and almost not to the principle.

Problems with Credit Report and Credit Score – Debt Payment Issues

Problems with Credit Report and Credit Score - Debt Payment Issues

There are many credit report and credit score issues that can prevent people from being approved for debt consolidation loans. Delays in the payment of debt or receivables for recovery adversely affect people’s credit scores. High balances due can make this problem worse. With so many variables, it’s best to find out in detail how your credit score is calculated.

Inadequate income to qualify for a loan

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Usually, the payment of a loan is more expensive each month than the minimum payment on credit cards. By the time someone realizes they could benefit from a consolidation loan, they may only be able to make the minimum payments on their credit cards and not a penny more.

The minimum credit card payments are so low that the balance of a credit card balance can take several decades, and only if you stop using the card to make your payments. Consolidation loans can not be repaid over a long period unless secured by your home (this is called a second mortgage ). Consolidation loans are generally amortized over 3 to 5 years. This means that payments must be high enough to repay the loan in 3 to 5 years.

If your income does not allow this type of payment, you may be refused for a consolidation loan.

Over-Indebtedness

 

We understand you because we know that everyone can one day be confronted with unforeseen events, illness, accident, consumption, restructuring, market change, separation, salary reduction, market that has changed, a child’s illness, no one is safe from bad luck.

We also know that it is often courageous to take the phone and call us, our advisers know it, understand the reasons for your difficulties, listen to you and take into account the specificities of your situation.

We have a positive and forward-looking approach

We have a positive and forward-looking approach

You are not alone in having problems of over-indebtedness, almost everyone has known in his life, we have solutions to help you leave in the best conditions, sometimes you have to know how to move back to better jump.

We have concrete solutions to propose to you and show you that, if you live a bad pass, it is only in the short term. Sometimes it’s best to erase the past and start on new ground to recreate the future, there’s no reason to sacrifice your potential and rebound ability.

Our first meeting is free and geared to your needs

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Our first meeting is free, no obligation on your part, it lasts about 1 hour, you have nothing to lose, everything to gain. Nothing will be signed at the first meeting, it’s exploratory. We have nothing to sell, it is to inform you, you will be able to make your decision afterwards.

It’s confidential, if you do not tell anyone, nobody will know, we are the doctors of your finances.The distinction we have with others is the desire to adapt to you, to offer specific solutions, and to offer a human solution, centered on your needs.

Our meetings are structured to help you

Our meetings are structured to help you

Our consultants follow rigorous steps during meetings to offer you professionalism and human contact.

Listening and analyzing your needs

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This is probably the most important phase. We believe that each client is different and that each case deserves the greatest listening.

We have a flexible meeting format to take stock of your general situation, your stress level, but also your financial situation to find technical solutions.

We will also ask you what are your objectives and your priorities in order to propose a suitable solution with which you will be comfortable.

Solutions adapted to you and in the long term

Solutions adapted to you and in the long term

We would like to propose solutions adapted to your objectives, your personality and that suit you in the long term. Our business model is based on the recommendations of satisfied customers, which has always been our strength.

Our role is to accompany you for a new start and give you the means to succeed. What is difficult at first becomes a relief afterwards.

What to do after going out of business

Our role is to help you make a fresh start and regain control of your life. Our goal is for this moment to be the last time in your life that you are having financial difficulties.

We offer two consultation sessions where we will discuss topics related to personal finance, credit, savings, consumption and other topics. Beyond these topics, we encourage you to develop other aspects of your life, such as learning to manage your time and priorities so you focus on the important thing rather than the accessory things that are not a priority in your life. . Another priority for you is to learn how to manage your stress in a difficult financial situation, stress can prevent you from thinking and seeing clearly.

Stricter Lending Standards for Revolving Credit

From 1 May 2019 the maximum term for a revolving credit is 15 years. This is one of the changes in the code of conduct for consumer loans.

 

Duration of revolving credit maximum 15 years

Duration of revolving credit maximum 15 years

Whoever takes out a new revolving credit next year will have a maximum duration of 15 years. This is one of the changes made by the Financing Companies Association in the Netherlands (VFN) in its code of conduct. Affiliated loan providers follow this code of conduct

Now the term of a revolving credit is still variable. You can withdraw the repaid amount again. A revolving credit is useful as extra spending room, but at the same time this is a pitfall. Because the loan is not automatically terminated, it requires discipline to become debt-free again.

If you do not use a revolving credit as extra spending room (small amount, short period), you better opt for a personal loan.

 

Multiple test moments during the term

credit term

It has also been agreed that in the case of revolving credit facilities it is regularly checked whether the outstanding amount still fits the financial situation of the customer. If this is no longer the case, a solution will be sought together with the customer.

In the most extreme case, the revolving credit can even be blocked for readmissions, for example in the case of a backlog of other credits. This must also prevent customers from becoming ‘locked up’. Which means that they can no longer switch with their revolving credit to another lender.

 

Revolving credit has been under magnifying glass for some time

Revolving credit has been under magnifying glass for some time

Earlier Saveryt Bank put a brake on the provision of revolving loans. The market leader for borrowing money will maximize the borrowing amount for new revolving loans at 15,000 euros. And with a monthly installment of 2% of the credit limit, new customers are forced to pay off.

The revolving loans from Saveryt Bank have been under a magnifying glass for some time. For example, the Keisha consumer program regularly paid attention to the high lending rates that Saveryt Bank sometimes charges

How to Plan for a Vacation Loan

The most awaited moment of the year is vacations. It is the period of relaxation with family members, rest and getting out of the rut.

But without proper planning, this relaxing time can become a major headache. That is why, planning must be at all, especially when we talk about finances, after all setting priorities for your money means saving. after all.

Planning is essential to make your vacation enjoyable.

Without limiting your spending, you may end up affecting other areas of the journey, such as separate cash for contingencies and emergency situations, which ended up being spent unnecessarily.

So we’ve separated a few steps from how to plan your vacation:

 

Everything must be decided in advance

The main tip is to plan ahead. This works for all aspects included in your trip, such as transportation, tickets, clothing, hotels and so on.

 

Select a destination

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Air tickets, bus tickets and car rentals must be chosen in advance. In addition to that, many airlines offer up to 50% off at the time of purchase.

The sooner you plan, the better it will be to find affordable rates and benefits, too, many establishments offer discounts to those who prepay.

 

Set a good roadmap

Set a good roadmap

A roadmap is how to plan where you will spend your money, so take into account your travel priorities, such as comfort, nightlife, proximity to some tourist spot, space or tranquility.

Similarly, set a budget, such as spending on passage, fuel, parking, tickets for tours, food, shopping and emergencies. For the same reason, it is important to emphasize that the destination is in accordance with the available budget.

Stay tuned for coupons and deals available on the internet, as well as free attractions in the area.

Defining a travel itinerary can be a good strategy to control your budget.

 

Control your expenses

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Stipulate a maximum amount to be spent. To do this, know the average prices of meals, tours, transportation and other possible expenses. After that, set a spending limit per day, so the money is controlled and you can prioritize what you want to buy on your trip.

Avoid making the most of your credit card because you must keep your trip with only your income and within the planned. That way, you do not come back with debts in the suitcase and do not get tight at the end of the month.

 

Shop the internet

Shop the internet

It is preferable to always compare prices over the internet, including all the holiday items like sunglasses, bikinis and various accessories that can be found cheaper on online sites. Also, do not forget to check the delivery time.

You can save money at various points along your journey, from tickets to restaurants, just organize yourself and plan your trip!

Also, do not forget to get rid of year-end expenses, such as IPVA, IPTU and school tuition, so you can enjoy your vacations peacefully!

Do you use any method of organizing during your vacation? How is your planning? Tell us in the comments!

Borrowing money with a temporary contract

It is a memory from a long time ago: about halfway through my primary school days, the whole school gathered to say goodbye to the director who retired.

He had been working at my school for forty years. From teacher, in the lower years he had worked his way up to director. That last day the whole school waved him goodbye as he cycled towards his retirement on a brand new bike.

Changes in the labor market

Changes in the labor market

For a child it sounds like an eternity and still forty years is half a human life. But forty years of being employed by the same employer is no longer an issue in the current labor market.

The labor market has changed. Young people have difficulty finding a job and older people take the blows when it comes to spending cuts.

Loan for home or car

Loan for home or car

A major change is that there are more and more people with a temporary contract. That means less certainty and not just with regard to work. The wishes of most people do not change.

People who live from temporary contracts to temporary contracts also want to buy a house or take out a loan for a new car, for example. But borrowing with a temporary contract was always a lot harder than borrowing with a permanent contract.

Borrow with a temporary contract

Borrow with a temporary contract

Fortunately, lenders are aware of changes in the labor market. Since September 1, it is, therefore, easier to borrow money with a temporary contract. With the launch of Good Finance, lender Good Finance offers people with a temporary contract more options for taking out a loan or credit.

Until now, borrowing money with a temporary contract was difficult because not all of the income was taken into account. Good Finance does it differently now.

The changes for borrowing with a temporary contract

The changes for borrowing with a temporary contract

  • From now on, with a six-month contract, 70% of your income will be taken into account when advising your loan application. That was 50% until recently.
  • Also for people with a temporary employee contract Phase B, 70% of the income is included. Previously, Good Finance did not include any income from a Phase B temporary worker for a loan.
  • Do you have a temporary contract, are you older than 30 and do you have a house to buy? In that case, your income will be fully taken into account when you apply for a loan.

More possible with borrowing money from Good Finance

More possible with borrowing money from Good Finance

These changes make it a lot easier to apply for a loan or credit with a temporary employment contract. Submitting this application to the Dutch Credit Company is particularly interesting because the Dutch Credit Company is a Premium partner of Good Finance.

That means that you are eligible for extra attractive interest! Forty years with the same boss may no longer be the case, but in this way a loan remains a real possibility for more people!

Loan Consolidation-Pay Off Your Study Debt, or Wait a Little Longer?

Repay the student loan immediately or wait? Students who graduate must start thinking about this. Repaying or not has consequences for the mortgage, among other things.

 

More study debt in the Netherlands

More study debt in the Netherlands

The number of students with student loans is growing. The average study debt per student also rises. This has everything to do with the new loan system. Since September 2015, students can only receive a student loan in the form of a loan.

The Central Planning Bureau (CPB) expects the average student loan to increase due to the new loan system to 21,000 to 24,000 euros per student. Now this is 19,000 euros.

 

Spacious conditions for repayment

repayment

After the study, the study debt must be repaid to the Education Executive Agency (DUO, formerly IB group). This is possible under broad conditions, including:

  • a start-up period of 2 years in which nothing has to be repaid.
  • ample maximum repayment time: 35 years in the new loan system compared to 15 years in the old loan system.
  • a monthly amount based on income.
  • a low interest rate.

Compare these conditions more often with a regular consumer loan.

 

Pay off your study debt or not?

Pay off your study debt or not?

The broad condition of a student loan can be very welcome. For graduates at the start of their career, the term amount can have a significant impact on the monthly costs. Even if you have one or more more expensive loans (in red, mail order credit or credit card), it has priority to repay them first.

However, if you can miss a monthly amount, it is advisable to repay your study debt extra. At the end of the term you are then the cheapest. At the moment the interest rate is low, but it can rise during the term. A repaid loan is also a worry less.

The mortgage, however, is the most important reason to immediately start repaying a student loan if possible. For many graduates, buying a home is an important step in the future. The higher your study debt, the less mortgage you can get.

Another reason to pay off. In the event of a marriage, both partners become responsible for the study debt.

 

Do not redeem, but save or invest

Do not redeem, but save or invest

Making money with your study debt: that sounds good. Instead of paying off your student loan, you can use money that you have left over each month to save or invest. You may therefore achieve more returns than the student loan costs.

Yet this sounds better than it actually is. With the current low interest rates, the return is limited. When investing, you even have a chance of a negative return, so you get deeper into debt. In addition, you must be strong in your shoes to save monthly and not use the accumulated capital for other things.

If you ever want to take out a mortgage, you must immediately put this plan out of your mind. The return that you may achieve with saving or investing is not equal to the amount that you can borrow less because of a high study debt.

Study Debt Costs

Many students opt for a student loan at the Education Executive Agency. This is a relatively cheap form of borrowing with a lower interest rate than the interest rates applied by banks. Moreover, you can take 15 years to pay and you only have to start doing this more than a year after your studies. Because of these benefits you quickly figure out how much this loan costs.

Repay or save – Study debt costs

Repay or save - Study debt costs

You pay interest on your study debt. As long as you do not pay back, EEA will add the calculated interest to the debt. You then also pay interest on this interest. So the amount of your debt rises extra fast. The amount of this interest changes every year. From the moment you start repaying, EEA sets the interest for that moment for 5 years each, so that you know where you stand.

Compared with a loan from the bank, this interest rate is very low on a student loan at EEA. At the bank you pay an average of 6 to 9 percent interest. But make no mistake: the interest from EEA also has a significant impact on costs. Suppose you have a study debt of 10,000 euros in a certain year at 2.2 percent interest.

You pay 220 euros in interest in that year. And because a student loan quickly runs for 20 years, you end up paying a lot of interest. Certainly because you do not initially start paying off, but pay off the interest. Only when you have paid the interest do you actually start paying off the student loan. And even then the interest continues.

Pay off your study debt or not?

Pay off your study debt or not?

You might think that it would actually be cheaper to keep saving, especially if the savings interest is higher than the interest you pay on the study debt. But keep in mind that you also pay interest on that interest, which means that you actually pay more interest than just the given interest rate at that time.

Nevertheless, saving instead of paying off the student loan has a number of advantages:

  • Sometimes a savings account indeed yields more than the debt costs.
  • If paying off the student loan means that you are going to borrow from the bank to buy a car, for example, you are more expensive. You then better choose to use your savings for the purchase of the car.
  • The part of the study debt higher than 3,000 euros or 6,000 if you have a tax partner is deductible in box 3. So if you have assets of more than 30,360 euros or 60,720 euros if you have a tax partner, you save capital gains tax.
  • You need a financial buffer on your savings account to be able to pay unforeseen costs. It is better not to use this buffer to pay off your student loan.

The most important weighting factors from the list above are the financial buffer and the major expenditures in the near future. Paying off extra on your study debt makes no sense if this means that you have to borrow from the bank for other things or go red on your checking account. This costs much more than the student loan. But if you do not need the money for other things, you make a calculation for yourself to determine what is more beneficial for you.

Additional repayment of student loan mortgage

Additional repayment of student loan mortgage

The bank takes your study debt into account when calculating your maximum mortgage. With a student loan you can therefore take out a lower mortgage than without a student loan. Although the study debt counts less heavily than other debts and loans, it quickly saves tens of thousands of euros on your maximum mortgage. Even if your partner has no study debt, you may take out a lower mortgage.

To be able to take out a higher mortgage, it is certainly wise to pay off your study debt.

Ready File Versus Ready-made Loan

Being in a situation of banking prohibition is not obvious. It is really difficult to get a favorable solution for granting credit in conventional banking institutions. However, there are solutions to obtain financing. Being ‘banking prohibited’ implies being filed with the National Bank in Belgium.

When you see a credit application, the lender is obliged to consult this feature database, if you are registered, you will be appreciated as a risky client. Even if legally speaking, being banned is not allowed. not equivalent to being banned from credit, the decision is at the whim of the financial institution. Vipa works with financial organizations specializing in credit for banned banking.

Do not refund your credit for more than two monthly installments

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Will necessarily require your registration with the National Bank in Belgium. The consequences can be unfortunate. We are at your disposal for any further information.Show at the National Bank in Belgium Did you know that: n Each credit subscribed must be registered with the Central Credit to individuals by your praetor organization. 

The Central Office for Personal Credit is tasked with combating over-indebtedness. If you fail to pay your premium for 3 consecutive months, Your lending organization has the legal obligation to terminate your credit or loan agreement with the National Bank in Belgium which will proceed to your registration. When you are registered with the National Bank in Belgium, your file reaches the litigation department of your lending agency that will try to find a solution with you to recover your money or by nature, will initiate legal proceedings that may lead to the recovery of the balance of credit unpaid on your property.

This may involve a seizure of your property and a public sale

This may involve a seizure of your property and a public sale

If your credit is not cleared, you remain registered with the National Bank in Belgium with the consequence that no credit organization (bank or broker) will be able to lend you any more money. You can not borrow anymore. Once you have settled your credit, the lending group has the legal constraint to ask the National Bank in Belgium to cancel your registration. n You will have to wait 15 months after delisting to be able to make a new loan or apply for a new loan. Being stuck is therefore a delicate situation. However the European People’s Credit can offer you solutions to get out of this embarrassing situation:

Credit agency for a person in charge of internal search for a credit organization for a person? But, do you already know how long this nature of payment will be registered at the National Bank in Belgium? Today, you can find a personal credit agency and, under certain conditions, benefit from the ability to borrow money again, despite your creation of an account at the National Bank in Belgium .

But are you still registered? How long do you appear there? As part of the normal course of a loan, your phone numbers are erased three months and 8 days after your last refund. once a payment incident occurs, they can be kept for up to 10 years. However, if regularization occurs, with an update of loan maturities, this period is often limited to a single year. To be more informed, all you have to do is contact the NBB during opening hours.

Banking institutions and credit institutions have the legal obligation

Banking institutions and credit institutions have the legal obligation

To register each of their credits with the National Bank in a file called the ‘central credits’. However, listing at the National Bank in Belgium is called ‘harmful’ when it occurs due to significant delays in one or more credit (s). These registrations are intended to protect the prospect against the risk of over-indebtedness.

A “harmful” listing among the list of offers still present at the National Bank in Belgium implies that it will, in general, no longer possible to obtain a new credit.If you are stuck at the National Bank in Belgium Any credit application made at Proxi Finances will be analyzed differently according to the following cases:

The credit has been regularized (that is to say, compensated): the registration is still a year (after the repayment date of the credit) from the credit center of the National Bank. However, in certain situations, Proxi Finances will be able to process the file and give it to its partners.

The credit has not been regularized (that is to say refunded) and you are OWNER: there are solutions of centralization credit with mortgage registration. In some cases, which depends mainly on the outstanding amount of outstanding credits and the existing value of your property, Proxi Finances can forward the file to its partners