Categories
Debt

I am in debt, what are the consequences?

It is common that when you cannot pay your bills, you say you are in debt. It’s okay, but not entirely. Everyone is in debt at one time or another, if you have a debt to someone, you are in debt. Which is perfectly normal up to a point.

The real problem arises when the inflows of money are not enough to pay your current bills, and when these, therefore accumulate, we speak of over-indebtedness.

 

I am accumulating unpaid invoices, what will happen exactly?

debt loans

The accumulation of debts can have several consequences. An overdue invoice will first be reminded, then if it is still not paid, it could be prosecuted by means of a payment order, or taken up by a debt collection agency such as for example Intrum Justitia or Debitors Managment.

 

What if I have lawsuits?

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After a few reminders, if the creditor decides to sue you, which happens in 99.9% of cases, the prosecution office in your region will send you a payment order. You will then have 20 days to settle this claim or object after which the creditor may request a requisition to continue the prosecution.

Once the requisition to continue the prosecution has been received and taken into account by the prosecution office, you will then be convened for a study of your financial situation which will determine whether or not you are seizable.

From there, one of two observations will apply:

There is a salary entry:

Based on the calculation of the subsistence minimum, any excess budget will be taken from you at source, therefore from your employer if you are employed to reimburse your creditors. Your goods can also be seized, here is an exhaustive list of what is or cannot be seized.

What is seizable:

  • Income (salary, unemployment, self-employed income)
  • Annuities from the 2nd and 3rd pillar
  • Real estate
  • Goods with a value greater than the estimated debt reimbursement costs (car, jewelry, paintings, etc.).

What is elusive:

  • AVS / AI annuities
  • Additional services
  • Family allowances
  • Benefits in the event of illness / accident
  • Indispensable items reserved for personal use (clothing, furniture, etc.)
  • Objects essential to the person in question as well as to his family (except luxury car for example)

There cannot be a salary entry:

Your lawsuit will then turn into an “act of want of property”.

When the act of default of goods is drawn up, the interest on this claim stops and even if you are not garnishable, the debt will remain valid for a period of you 20 years, after this period the claim will be expired.

However, a creditor can revive a lawsuit on the basis of an act of default of goods, and if the latter again leads to the issuance of an act of default of property, the period of validity will then be extended for an additional 20 years.

In addition, in the event that you return to better fortune during this period, the prosecution office may reassess your situation to determine whether a seizure is now possible.

If you are wondering how the prosecution knows that you have returned to a better fortune, it is the creditors who can revive an assessment of your financial situation at any time.

 

What is a collection agency?

loan collection agency?

Your creditor is not obliged to sue you, he can also decide to assign your debt to a collection agency, either at low cost, or because they regularly mandate this type of collection agency to deal with of their litigation. In concrete terms, the advantage for a creditor of using such an agency is to save time and money.

To find out more about collection agencies, their fees and costs, click here.

 

Do you have debts?

Do you have debts?

No worries, you are no longer alone, and you have the possibility of speaking to professionals, who will be able to accompany you throughout your deleveraging process.

It is important to get help in case of debt, and not to be left alone in front of your arrears.

The pressure from the creditors is too heavy in addition to all the other things that you have to manage apart from your bills.

We are here to help you, and accompany you, and this without any judgment and with encouragement.

Categories
Credit

Credit without proof

Reject a loan without any proof

Reject a loan without any proof

Countless banks fundamentally reject a loan without any proof. A salary represents an unsafe contract situation for the applicant against the bank, as he could not pay off the loan at any time. Due to the very low income or none at all, a credit institution generally does not grant a loan without proof, since this is an important criterion for obtaining a loan. If the amount of the loan is high, the bank is often required to submit an employment contract. A loan without proof can naturally be taken up with many hurdles and great difficulties.

The borrower mainly finds offers for credit without proof on the Internet, some direct banks often grant a loan without proof up to a certain amount without further checks. However, the identity card and an EC or credit card often have to be presented here. The applicant must note that he is obliged to provide truthful information. If you are asked about your work status when applying for a loan, you must state that there is no salary.

What is the best way for the applicant to get this loan?

What is the best way for the applicant to get this loan?

Personal circumstances can cause a bank to issue a loan without proof. Anyone wishing to avail themselves of this loan must in any case have a guarantor who signs the loan agreement and ensures that the loan is repaid with his signature. This is the fastest way to find a loan for instant loans. This credit is often tied to a specific product, so in stores or shops, a credit without a salary allows you to buy goods, such as a washing machine or other everyday items. With this credit decision, the applicant will never receive more than 500 to 1,000 USD. Since these sums are very small, employment is rarely asked, so that it is possible to take out a loan without salary.

Another option is a loan without Credit Bureau. In this case, private brokers in particular do not submit a salary. However, other collateral must also be available here so that the borrower and the lender can secure themselves. If you want to use a loan without proof, you have to expect very high interest rates, so this loan can be very expensive. In order not to pay too much, a credit comparison should help you find a relatively cheap offer. If you think about this loan, you should do a good calculation to find out how much money is really left for a loan. Only then should a loan application be made and applied for.

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Bank Loan

Lite Lending undercuts bank loan offers with a one-off payment

As part of its cheaper-not-guaranteed guarantee, the Lite Lending credit portal is now undercutting cheaper installment loan offers from domestic banks. Borrowers receive a one-time payment from Lite Lending if the cheapest loan offer found via Lite Lending should not be cheaper than a comparable loan offer from a bank and they still complete their loan via Lite Lending. The one-off payment means that the installment loans made via Lite Lending are cheaper for borrowers than the reference offers submitted by them. The cheaper-goes-not guarantee can be used by all borrowers, regardless of their creditworthiness – provided that there are suitable credits available on Lite Lending for the respective creditworthiness.

for the respective creditworthiness. The guarantee applies to all loan amounts and terms available on Lite Lending.

 

This is how prospective creditors use the cheapest-not-guaranteed guarantee

This is how prospective creditors use the cheapest-not-guaranteed guarantee

1. Those interested in credit who already have an individual installment loan offer from a bank (reference offer) check whether Lite Lending has a cheaper offer for them. If the reference offer is cheaper, submit the contract documents for this offer to Lite Lending.

2. Interested parties take out the cheapest loan available for them on Lite Lending.

 

A loan comparison is more advantageous for borrowers than going to the individual bank

money loans

The cheaper-goes-no guarantee is intended to encourage consumers even more to compare loans. For them, Lite Lending compares loans from more than 20 banks and creates transparency that no bank can provide.

“We especially want to reach those who traditionally only go to one bank and therefore usually pay too much for their credit. You should note that a loan comparison is definitely worthwhile. On average, this saves more than 35 percent, ”says Alex Entorpe, Managing Director of Lite Lending. “And should a bank’s offer be cheaper than the offers found through Lite Lending, our guarantee applies. That is why Lite Lending is the better point of contact for loans than a single bank.

Categories
Credit

Credit for civil servants on revocation

Officials have a special status, even when it comes to borrowing. For example, special loans for civil servants or loans for civil servants are offered that offer particularly favorable conditions. However, a distinction must be made between loans for civil servants for life and loans for civil servants with revocation. The revocation official is just as welcome by banks as a customer as a lifetime official, but there are some differences in borrowing when it comes to bank valuation and terms.

Differences between officials for life and officials for revocation

Differences between officials for life and officials for revocation

Officials for life can claim a so-called civil servant loan. This loan is characterized by particularly favorable conditions and the fact that extremely long terms are possible. This is because civil servants have a guaranteed lifetime income and there is no risk for the bank.

In addition, a civil servant loan is secured by a life insurance policy, so that the loan is also secured in the event of death and thus also the surviving dependents. Civil servants cannot provide this security for life. For this reason, civil servants can take out an installment loan on revocation, but this is not associated with particularly long terms and particularly favorable conditions, but is equivalent to a normal installment loan.

Numerous offers from banks and credit intermediaries

Numerous offers from banks and credit intermediaries

Withdrawal officials who need a revocation loan can find numerous offers from banks and credit intermediaries online. This is not least due to the civil service status. It is important, however, that loans should only run for as long as the length of service, which must be proven when borrowing. This allows civil servants on revocation to take out a cheap credit for civil servants on revocation. The conditions are very good, because civil servants, even if only by revocation, are welcome customers, since the income is secure for the service.

Comparisons are worthwhile for civil servants on revocation

Comparisons are worthwhile for civil servants on revocation

Revocation officials with a good credit rating have the choice when it comes to a loan. Due to the large number of offers for a loan for officials on revocation, officials on revocation should not take up a loan offer prematurely, but take a few minutes for a comparison. An online loan comparison ensures that the cheapest offer can be found quickly. The online loan comparison is free and non-binding and so there is nothing to lose, just to win.

Small differences in the interest rate have a significant impact on the total costs and this should not be underestimated. A comparison can avoid several hundred USD in borrowing costs. Accordingly, it is worthwhile to carry out the comparison in the first step when looking for a loan for civil servants on revocation. Once the cheapest offer has been found, the loan can be conveniently applied for online.

Categories
Debt

Debt restructuring with Credit Bureau entry

Those who are in debt are not only plagued by a guilty conscience, but not infrequently by the worry that the amount of debt will increase. Because if bills cannot be paid and reminders land in the mailbox, the total increases with every further reminder. In fact, it often happens that the fees for lawyers, bailiffs, reminders and processing fees exceed the original amount.

A permanently overdrawn checking account also contributes to further indebtedness, because the interest on the overdraft facility is often 15 percent or more. Overdraft interest is even added. Anyone who cannot manage such debts on their own within a short period of time or the creditor does not accept payment in installments needs rescheduling with a Credit Bureau entry. Because the Credit Bureau entry should already exist for permanent liabilities.

Check Credit Bureau yourself

Check Credit Bureau yourself

However, it can also be worthwhile to simply request your own Credit Bureau information directly from Credit Bureau. This has even recently become free of charge and can also be applied for online. If there is actually no Credit Bureau entry at all, it is advisable to negotiate a normal loan with the house bank or to search for a normal loan in the online loan comparison.

Because a debt rescheduling with Credit Bureau entry is usually somewhat more expensive than taking out a loan with the normal Credit Bureau procedure. This is because banks at home and abroad, as well as credit intermediaries who offer a Credit Bureau-free loan, have to compensate for a higher risk with slightly higher lending rates. Nevertheless, it can be worthwhile for you if you only consider the example with the 15 percent interest pa of the overdraft facility, which is offset by a debt restructuring of 5-8 percent pa with a Credit Bureau entry. You save money from the first day of debt restructuring.

Debt restructuring creates an overview

Debt restructuring creates an overview

Another advantage of debt restructuring is that many claims are bundled into one. It can be very stressful not to have a good overview of the creditors. Many creditors also pose a higher risk of encountering a bailiff at the front door, because with a large number of reminders and sometimes incomprehensible letters and requests, it is difficult to set priorities.

However, if you risk a debt rescheduling with a Credit Bureau entry, you can settle all claims at once and unforeseen debits from your account no longer occur. You then only have to pay one installment each month. This again leaves you room for maneuver and planning security.

Use credit comparison

Use credit comparison

If you should now decide to reschedule with a Credit Bureau entry, you can use the free and non-binding online loan comparison. This program enables you to get a quick overview of the best schufa-free loans on the net. Large and smaller credit institutions, direct and foreign banks and credit intermediaries are listed. Almost everyone accepts your request for a loan of 1000 – 25 000 USD even if your Credit Bureau information is negative. However, the other requirements of your credit rating should be correct.

Requirements

Requirements

A bank or credit broker will only give you a loan if you are able to repay it on time in monthly installments. A debt rescheduling with a Credit Bureau entry is only possible if your monthly income exceeds the monthly expenses. You should have a permanent job, be of legal age and reside permanently in Germany.

Categories
Bank Loan

The benefits of the bank loan, conditions and online application.

Lite Lender Company loans online: advantages and conditions

Lite Lender Company loans online: advantages and conditions

Lite Lender Company, a specialist in the consumer credit sector, provides loans at advantageous conditions directly online. These are loans that can be requested directly online, thanks to the applications on the financial’s online portal. But how to apply for a Lite Lender Company loan?

Lite Lender Company loans can be requested directly online, via the official financial website. In the same way on the Lite Lender Company portal it is possible to calculate the loan amortization rate.

But what are the financing of the Lite Lender Company offer? In addition to traditional home loans and home renovation loans, we also find the Tempo Libero loan, a product developed for those who are looking for a loan that allows you to obtain extra liquidity with which to carry out small and large projects.

The financing can be used for the payment of beautiful treatments, such as for a trip. The maximum amount payable is set at 60 thousand USD, while the minimum that can be financed is equal to one thousand USD. You can completely cover the cost of the purchase you intend to make.

Personal loans Lite Lender Company 2018

All products of the Lite Lender Company loan offer then allow you to repay the money with a flexible amortization plan. The refund can in fact be personalized, based on the needs of the applicant.

You can take advantage of both the installment jump and installment change options. The first allows you to skip the payment of one or more amortization installments, which are postponed to the end of the repayment plan.

The installment exchange option instead allows you to change the amount of the periodic installment to be paid. Obviously, the modification of the installment corresponds to a change in the duration of the loan.

We also remember the possibility for the beneficiary to protect himself from any unexpected events. In fact, an optional insurance policy is available, which covers against the risk of insolvency. For more information on the most advantageous offers in the loan market, continue to follow our portal.