Debt trap: Teleshopping

Skillful animation tempts you to shop quickly

You don’t get just one, not just two, you get three things for free if you only order immediately. With clever advertising steps, the television viewer is literally “talked out of the money”. And you don’t even have to pay in one sum if you don’t have it. It’s also easy on the installment plan.

Beware of the glossy stations

The sellers in the shopping channels are literally overflowing with friendliness. They speak directly to the viewer. If you feel lonely at home, television shopping is very seductive. It manipulates and suggests that someone would talk to the viewer, be interested in his concerns, have the right solutions ready.

Apply for your debt rescheduling now!

Soap first, then squeeze out

In the seller’s language, the detailed product description is also called “soaping” without emotion. You try to get the viewer to a maximum level of interest. The sellers use promises and compliments of every kind, such as:

  • it will fit you fantastic
  • You will be admired for
  • you will be envied it.

With psychological tricks and tricks of any kind, the seller tries to persuade the audience to be sure to buy the advertised product. The pressure then comes after a series of sales arguments. It is said that it was:

  • only a certain number of the product available,
  • Now you have to answer the phone
  • who buys now, get it for next to nothing.

A clock then ticks and counts down a countdown. It is always reminded to call now, to make a quick decision, to secure a product immediately. The viewer picks up the phone and the trap snaps shut.

Personal data is requested

Personal data is requested

The viewer has selected the sales hotline on the TV shopping channel, it is trapped. Then he reveals personal data, perhaps the credit card number or the bank details for a direct debit. His age, address, everything. Only hours later, the purchase amount is debited from the account. A few days later the doorbell rings and you get the purchased product. Viewed in the sober daylight, it may not turn out to be as good as advertised by the seller. In any case, it will be overpriced. The product prices for goods in television shopping are not bargain prices.

Addiction potential from television shopping

Addiction potential from television shopping

Some cannot be put off, not by the too high costs for comparatively simple goods, not by querying personally sensitive data. Some continue to watch TV shopping, order again and again, order about your options. Shopping on the television then becomes an addiction. First they pay the sums in full, then credit offers are used, small installments and consumer loans. If it worked out when you paid the first installment, you agree on the second or third. The spiral turns, the debts start to grow and pile up.

TV shopping can create a mountain of debt

Is the TV shopping has become only the cherished habit and addiction, the debts can pile up and the person does not notice. He has more and more open invoices, reminders or maybe already titled claims, but the affected person can not get rid of the urge to turn on, look and order again and again. At some point, the affected person becomes over-indebted and only radical measures help to free themselves from the “swamp of debt”.


Instant loan comparison: banks and credit intermediaries for quick credit

An instant loan is a loan that you have in the account in a short time after the comparison and the submission of the necessary documents, up to a maximum of 48 hours after the application. At Cream Bank you will find a loan comparison for instant loans and also the possibility to accept the right loan immediately and to sign the corresponding contract. Incidentally, the request itself, which you can conveniently process online in just a few minutes, does not result in a report to Credit Bureau or another credit agency.

A selection of banks in the Cream Bank credit comparison

A selection of banks in the Cream Bank credit comparison

The loan comparison portal works with several banks in order to always be able to present you with the best offer. In addition, with a high number of providers, the competitive pressure among the individual banks increases. As a borrower, you therefore benefit from cheap loans and low interest rates. These are some of the banks with which Cream Bank works:

In addition to the above, there are many other banks and credit institutions. Other credit brokers, such as Auxmoney, also belong to the extensive database. Auxmoney arranges loans from private to private – so even self-employed people, students and other borrowers who are otherwise seen as wobbly candidates are more likely to get an instant loan!

Instant credit and quick credit – what’s the difference?

Instant credit and quick credit - what

Basically there is no defined difference. The instant loan and the quick loan are mostly used synonymously. The main feature is that the desired amount is paid out very quickly. The creditworthiness is checked anyway, the Credit Bureau will be asked if necessary. The credit comparison at Cream Bank is Credit Bureau neutral and does not result in entries. Nevertheless, the credit agency plays a role. Loans that can also be paid off over long periods are usually referred to as instant loans. The term rapid credit also refers to those loans that are received immediately and repaid quickly; usually smaller sums up to 1,000 USD.

The 8 reasons for Cream Bank: Advantages according to the comparison page

What is an instant loan good for?

Most interested parties take out an instant loan to cover spontaneous costs that arise unexpectedly. This can include repair costs for devices, the car or the house technology. If medical treatment becomes necessary, a new computer or the like can lead to an immediate loan. In addition, there is currently the topic of Christmas. Throughout the year, there are always unique opportunities for a short vacation, for a cheap purchase – or the overdraft facility needs to be balanced out … fast online loans are also good for this.

This is how the instant loan comparison works at Cream Bank

First, visit the special subpage of Cream Bank, which is completely dedicated to the topic of instant credit. Then you will find a search field at the top in which you can enter your desired amount. Below, between interesting explanations on the subject, there is a more detailed search mask. There are also a number of facts, criteria and data that you can study in addition to the loan comparison. When using the search field or the search mask, simply follow the instructions on the following pages – and you will find the best instant loan.

More and more providers are coming onto the market

The topic of instant credit and lending in general is bringing more and more providers onto the market to present their comparisons and products. For example, the new provider Credi2 offers a kind of credit line via smartphone with its app cashpresso, but the interest rates are very high. Because here a lot of costs for providers, intermediaries, borrowers and so on come together. Inexpensive providers like Cream Bank, who have many years of experience and many partners, are more attractive and can also arrange higher amounts.

Conclusion on the topic and the loan comparison

An instant loan should of course only be taken out if you know that you can repay it quickly. Basically, borrowers and lenders need to be clear about their creditworthiness. In order to find the best provider, the best bank for a loan, comparison sites like the one presented are worthwhile. There is a comparison of many credit institutions and some intermediaries; the inquiries are free and non-binding; and in the end you get exactly the credit you want. Not a bad thing!


Debt restructuring for companies

Why debt restructuring and what are the benefits?

Why debt restructuring and what are the benefits?

Long-term and short-term loan debt is vital for businesses in many cases. Without these, short-term bottlenecks in liquidity and investment power can hardly be overcome. This is why debt restructuring is so attractive for companies, because if a loan is already part of the business basis, it should at least be as cheap as possible. In most cases, debt restructuring is nothing more than an option for the borrowing company to make the interest and the terms as attractive as possible.

Especially with corporate loans, the amount of which often quickly reaches the six-figure loan amount, a lot of money can be saved over the term – a possibility that companies like to use again and again. Companies in Germany alone are currently saving an estimated over nine billion dollars a year through debt restructuring, although the potential is much higher.

According to relevant studies, companies in the German economy are still paying double-digit billions in excess each year due to excessive interest rates or poor repayment conditions – a shortcoming that means a significant weakening of economic and innovative strength, particularly in times of the global and European financial crisis.

Advantages that can result from debt restructuring:

  • More attractive interest rates can lead to savings.
  • More attractive repayment terms make it possible to individually adjust the financial scope, especially for long-term loans.
  • Bundling the individual loans can mean an increase in creditworthiness and less effort for financial planning.
  • Savings in interest and money saved in administration can lead to an improvement in the financial scope and the financial possibilities.
  • Possibilities of tax savings in the annual financial statements can thus be fully used.

How does debt restructuring work for a company?

Debt restructuring works in a company much like a consumer. Depending on the situation, one or more loan contracts are replaced by new contracts with better terms or combined under a new loan with more favorable terms. The latter option in particular is very popular with long-term loans, as it not only simplifies the handling of the loans, but also enables savings through an interest rate and a repayment agreement. Depending on the creditworthiness and possibilities, it can also be considered to combine a redemption with an at least partial reversal (repayment) of the loan amount. The result is optimized, because together with the better conditions, even lower interest rates on the total loan amount and an increased credit rating come into play. Especially in economically demanding times, companies often opt for a replacement and prefer to keep the available cash available. However, this behavior can change due to possible penalty interest for investments.

How to proceed with corporate debt restructuring

How to proceed with corporate debt restructuring

The overdraft facility is not the only problem area that suggests debt restructuring for companies. Countless overly expensive loans in the past can burden the company and limit its ability to act. However, debt restructuring is not always worthwhile for companies. Therefore, entrepreneurs should follow the checklist below:

  • What debts are there in the company? Scope, lender, term?
  • Total cost of all debts
  • Cost of individual debts
  • Rescheduling options: Where would it be possible to redeem old debts without prepayment penalty?
  • Check new loan offers
  • Comparison of the installment amount and the interest costs
  • Check the need for debt restructuring for companies: is it a matter of reducing monthly payments or saving interest? Can you do both?
  • Priority of old debts: Are there difficulties with individual creditors? Regardless of the savings potential, these debts have priority for corporate debt restructuring.

Debt restructuring can secure future growth

Due to current events, this risk is increasingly coming to the fore, which is why a rescheduling may not necessarily release funds. In this case, the debt rescheduling only serves to simplify the organization or should create a little space for new loans for investments due to the associated higher creditworthiness. While this is a little riskier, it allows the company to grow faster in a better economic climate. Here, an opportunity-risk analysis is almost always carried out beforehand, because if this strategy fails, the debts are still retained and must be repaid by the company in any case. For this reason, economists always recommend a solid financial cushion, but at least a realistic and well-executed market and market opportunity analysis in order to be able to assess the success of a debt restructuring with the subsequent taking out of new loans as well as possible.

What does corporate debt restructuring bring to companies?

With a loan of one million dollars with a repayment period of five years, a one percent interest difference makes a saving of 25,625 dollars. This interest rate advantage can certainly be converted into a longer repayment period, which allows the entrepreneur to significantly reduce the monthly charge without increasing the credit costs. The only problem of debt restructuring for smaller companies is the more semi-professional financial management of the owners, who cannot employ their own experts for complex financing models. But that’s not necessary either: Specialized service providers are happy to help and calculate the benefits of debt restructuring for companies to the cent.


Credit Despite Debt – Housewife loan

The housewife’s credit

The housewife

In most cases, those who have a negative Credit Bureau entry will not receive any money from their house bank. But there is a solution: The housewife credit is needed! However, caution is advised here, because providers who work without a credit check are often dubious.

The housewife loan is basically a normal consumer loan, as it is granted by banks, savings banks or online banks. Some providers on the Internet expressly advertise that no credit check is carried out.

However, there are serious providers of housewife loans that are offered through credit intermediaries or foreign financial service providers. It is important to remember, however, that if the Credit Bureau information is not provided, generally worse conditions are offered. Housewife’s credit can quickly become an expensive pleasure that only increases the mountain of debt.

Disadvantages of the housewife loan:

  • high interest rates
  • high fees
  • exact conditions are only given on request

There are no generally valid loan offers here, these are precisely tailored to the respective customer. Loans are processed via the Internet, which can even be done very quickly. Anyone who makes an inquiry will get an answer within a few hours.
The lower limit for housewife loans is 500 USD for most providers.

The advantages of a housewife loan are:

The advantages of a housewife loan are:

  • prompt processing of the request
  • with approval: rapid payment of the loan amount
  • Even small financing requests are taken into account (from 500 USD)
  • Lending possible without a Credit Bureau check

However, the housewife loan is not always granted. It is not necessary to have a permanent job and you do not need a regular income. However, it must be proven that there is enough money left each month to repay the loan installments if all expenses are deducted. Proof of salary must be provided if available. If necessary, a surety can also be consulted.

CAUTION: If you do not have a secure financial position and have had payment problems before, you should not carelessly take out a housewife loan. There is a great danger that the debt trap will become a bottomless pit. Even low loan amounts can become a major burden due to the high interest rates.

Everyone should ask the question here: Do I really need the loan? Or can the planned purchase wait a little longer? Satisfying consumer needs has become the top priority – but this should not be the case if debts already exist.


Bank loans advance

Advance bank loans are a type of long-term loan; they are mostly used to pre-finance a building society loan contract that has not been paid or has not been fully paid up. The home savings sum corresponds to the amount of the loan. However, no repayments are made with this type of financing, the borrower only pays savings contributions for the building loan contract and interest during the term. Only with the allocation of the home savings contract can the bank advance loan with the home savings sum be redeemed. This type of financing is particularly suitable for renovations or if the borrower has to cover a certain period of time financially. A bank advance loan therefore also creates a certain amount of security until the date on which corresponding cash receipts such as the maturity of a life insurance policy or a fixed-term deposit investment can be expected.

Bank advance loan variant

The banks have the investment or life insurance pledged to secure credit. In most cases, this loan variant has a term of between 8 and 10 years. The advantage of this loan is that the borrower does not have to wait until his home savings contract is ready for allocation, but can immediately have financing. A bank advance loan thus represents a long-term loan for the pre-financing of own or external funds in the context of real estate financing. For larger amounts, a bank advance loan is secured by entering a land charge and assigning the claims from the building loan contract.

Real estate financiers who want to keep their monthly charges low can place several building loan contracts in a row. The borrower only has to pay the savings contributions and the loan interest. At the same time, however, the borrower has the option of having the necessary funds available before the due date, because he is virtually pre-financing them. If advance loans are to be repaid via a newly concluded building society contract, this building society contract serves as a so-called repayment alternative. In this way, the home savings contract can be pre-financed or interim financed. Example:

Conclusion: If the loan is allocated quickly, it can be quickly replaced by the building society contract.

This financing option also offers advantages for families with children who want to own a condominium or a house in the countryside. In many cases, such a goal can only be achieved through an advance bank loan, because buying a property is always associated with very high costs and thus a financial burden for everyone. With a bank advance loan, however, the dream of owning a home can be fulfilled; you have something stable and secure at a very early stage – even without a lot of equity. If you want to be sure with this financing option, you shouldn’t take out the first-ever loan or real estate financing, but also ask a loan calculator in advance. Because even the smallest differences in interest rates reveal significant differences in monthly charges.

Advantages and disadvantages of a bank advance loan

The term advance bank loan is identical to the term fixed-amount mortgage and has the advantage that no repayment is required during the entire term. Rather, this takes place at the end of the term and then in one sum. Over the term, the borrower pays the contributions and savings for the home savings contract in addition to the interest. The respective amount depends on the term of the building society contract and the agreed building society sum. When the building society contract expires, the existing fixed-amount mortgage is then repaid in one sum. Another advantage is that advance bank loans can also be realized in combination with life or pension insurance as well as with investment and savings contracts.

The difference to the annuity loan is, in particular, that in this financing variant, the monthly repayment significantly reduces the percentage of the remaining debt. In the case of an advance bank loan, the lender receives only the agreed interest due to the repayment suspension; the borrower is entitled to the accumulated credit from the home loan savings contract. Comparing the number of annuity loans with an advance bank loan, i.e. a final loan, the calculation is as follows:

Annuity Loan Amount of the mortgage loan 150,000 USD
fixed interest period 15 years
nominal interest rate 5%
Interest, principal and home savings payments 2.667% (= 333.33 USD per month) monthly with immediate settlement
Final loan payment in a new home loan contract 333.33 USD (= 4,000 USD pa)
savings target identical
Interest and building society savings payments no monthly
Calculation of annuity loans
Remaining debt after 15 years 60,992.74 USD
Building society credit after 15 years in accordance with building society tariff XY 0.00 USD
Building society loan after 15 years in accordance with building society tariff XY 0.00 USD
After 15 years, there is an increase in debt due to the home savings deposits
in the amount of 28,835.59 USD
Amount of the monthly rate for interest and repayment 629.00 USD
Total runtime 16 years, 2 months
Nominal interest pa 9.84%
If the affiliate loan is after 15 years with the annuity loan
below 9.84% pa, the bank advance loan is more expensive
Calculation of advance bank loan
Remaining debt after 15 years 150,000.00 USD
Building society credit after 15 years in accordance with building society tariff XY 61,671.67 USD
Building society loan after 15 years according to building society tariff XY 89,828.33 USD
After 15 years there is more debt due to the savings in home savings
in the amount of 28,835.59 USD
Amount of the monthly rate for interest and repayment 629.00 USD
Total runtime 16 years, 2 months
Nominal interest pa 3.95% (4.5% effective)
If the affiliate loan is after 15 years with the annuity loan
below 9.84% pa, the bank advance loan is more expensive

Due to the right of termination by the borrower after 10 years (§ 489 BGB), this interest rate is rather unlikely. If we take a follow-up interest rate after 15 years, which should be 7% pa, the loan would have been repaid even faster, namely after 11 years and one month. This would save the borrower around 31,000 USD (629 USD x 49 months). From this calculation it can be seen very well that a new building society contract is generally not recommended for a later repayment of a bank loan. In addition, there are the closing fees for the building society loan contract as well as other loan and account management fees for the building society loan.

The use of a building society savings contract therefore only makes sense if it either becomes ready for allocation in the foreseeable future or if it can be saved as a result of asset-related benefits.


Fundamentals of debt rescheduling

In principle, those who want to reschedule an installment loan must be familiar with the mechanism of interest costs:

  • With the same effective annual interest rate, the interest costs increase with the term.

This makes sense, because the outstanding balance is paid interest on. Here is a tiny calculation example:

  • A loan of 10,000 USD will be repaid at 6.50% APR over three years. The interest costs are 1,033.64 USD, the monthly rate is 306.49 USD.
  • The same loan is redeemed at the same interest rate over six years. The interest costs are now 2,103.15 USD, while the monthly rate is only 168.10 USD.

This means that rescheduling an installment loan because of a lower monthly installment, which can only be achieved with a longer repayment period at the same interest rate, is always expensive. It costs slightly more than twice with double maturity, which is due to the mathematical interest rate and the course of the annuity, at the same time the rate unfortunately does not drop to half with double maturity. There is nothing to be done about this unless the borrower is very lucky and finds a new loan at a much cheaper interest rate. This scenario is not even so far-fetched when market interest rates fall. In 2014, we noted an absolute interest rate low on the German market: It could be a good time to reschedule installment loans.

Debt rescheduling: Calculation examples

Debt rescheduling: Calculation examples

We want to investigate some advantageous scenarios for the borrower and generally assume that there will be a remaining loan of $ 10,000 to be repaid. The rescheduling of the installment loan should be carried out as cheaply as possible.

  • The borrower wants to lower his monthly installment to less than 200 USD. He finds a new installment loan for his debt rescheduling at an interest rate of 4.5% and is ready to pay off another five years. The monthly installment is now $ 186.43, but its interest expense is $ 1,185.81.
  • In order to further reduce the interest burden, the borrower is only prepared to repay the interest at a rate of 4.5% for a further four years. The monthly rate is now 228 USD, but the interest burden has dropped to 945.67 USD. By rescheduling the installment loan, the borrower has achieved two goals: he is now paying a lower monthly rate than before and at the same time has less interest overall because he has found the new, lower-interest rescheduling loan.

These calculation examples could be continued as desired. Unfortunately, many people do not expect to reschedule the existing installment loan at all. They just want to cut their monthly rate at all costs (literally). This is most evident for people who permanently claim their overdraft facility at exorbitantly high interest rates without ever having to reschedule. Over the years, considerable sums accumulate here – money given away, as can be seen from a simple online comparison for rescheduling a installment loan.

Requirements for rescheduling an installment loan

Requirements for rescheduling an installment loan

There are two ways to repay an installment loan:

  • Negotiations with the old lender
  • Find a new lender

If no cheap new lender can be found, for example because the borrower already has a negative Credit Bureau entry, negotiations with the old lender are advisable. They have the advantage that they can walk quickly and there is no prepayment penalty. The old lender only stretches the repayment period. The big disadvantage is that the old lender barely cuts interest rates on rescheduling an installment loan – why should he? This variant will definitely become more expensive, as can be seen from our first calculation example at the top. A new lender, on the other hand, could offer a much cheaper installment loan for debt restructuring under favorable market conditions, such as we find in autumn 2014. However, the price advantage only unfolds in full if the old lender does not ask for prepayment penalty. Even if it were due, this should only amount to a maximum of one percent of the outstanding balance with a remaining term of more than one year, and even only 0.5% with a remaining term of less than one year. But borrowers who want to reschedule an installment loan should have a look at the fine print: in most cases they are lucky. Since about 2010, hardly any banks have asked for prepayment penalty if a smaller installment loan is to be rescheduled. The borrower can usually repay the loan early and at any time without compensation. However, this does not apply to all motor vehicle loans and certainly not to mortgage loans!

Debt rescheduling without Credit Bureau

Debt rescheduling without Credit Bureau

A installment loan can also be rescheduled without Credit Bureau, but there is usually no question of savings. The reputable financial intermediaries charge little less than five percent interest, usually a little more. If the repayment period is then also to be extended in order to get a lower monthly rate, the costs must inevitably increase, as already explained above. Nevertheless, this procedure, like any rescheduling of an installment loan, has many advantages:

  • Relief from reminders and attempted enforcement
  • lower monthly rate
  • possible possibility of further financing
  • Avoid consumer bankruptcy
  • Avoid the expensive plugging of financial holes, for example through the overdraft facility or often dubious short-term offers with high interest rates

Swiss loan for unemployed low earners or Hartz4

Is a Swiss loan possible for the unemployed, low earners or Hartz IV recipients?

Swiss loans are granted without the Credit Bureau information otherwise required in the lending business. However, this does not mean that there is no credit check at all: instead of the credit agency, this focuses on the validated self-disclosure and information from the responsible local court in the classic way.

Loans without Credit Bureau are granted by individual banks from neighboring countries. The acceptance criteria of the institutes require a monthly, attachable net income of at least $ 1,150 (single person without maintenance obligations). This income must come from a self-employed activity – a permanent and permanent employment relationship. If this condition is not met, it is rarely possible to grant a loan.

No credit with ALG II, independence or too little income?

No credit with ALG II, independence or too little income?

Lending is therefore not possible for the unemployed (regardless of whether ALG I or ALG II). Even low earners or average earners with many maintenance obligations definitely do not receive the loans. If an income that is sufficient to take into account the maintenance obligations is not achieved with an employment relationship, the loan application is not worthwhile.

Self-employed and freelancers (including doctors, architects, etc.) can apply for a loan for the self-employed.

The only exception: employees who fulfill the acceptance criteria with their main job and also run a business can receive a loan. On the other hand, employees who are paid wages subsidies by the employment office do not meet the criteria. This also applies to employees with a temporary employment contract.

“Loans without Credit Bureau for everyone” – what’s behind it?

At this point it is imperative to warn against dubious providers who promise a Swiss loan under different conditions. These providers are not reputable credit brokers – they only receive a commission if they are successfully brokered and have no business interest in applications without any prospect of success. Unfortunately, where the proverbial “ loan without Credit Bureau for unemployed ” is used, the point is often to sell useless insurance, to rip off preliminary costs or to collect address data.

If you are looking for a suitable broker on your own, you should adhere to a few basic rules: Take a close look at the provider (imprint!), Make no payments before the full payment and sign nothing other than a loan application and a brokerage agreement,

What happens if unemployment occurs during the repayment?

If there is a loss of job during the ongoing repayments, this initially has no effect on the credit: as long as no incorrect information has been provided in the application and the installments continue to be paid, the bank cannot terminate the contract. If you are in default, you will receive 1-2 reminders, as with loans from German banks. If the default persists, the bank may cancel the Swiss loan in principle: If you fall behind with at least two successive loan installments or 5% of the net loan amount, you must expect such a step. If there is a risk of shortage, you should therefore contact the bank at an early stage and ask for a deferral or a restructuring of the rates.

Loan alternatives for the unemployed and low earners

Loan alternatives for the unemployed and low earners

The chance of a loan is manageable for the unemployed and low-wage earners, but not necessarily zero – at least if only relatively little money is needed and the Credit Bureau information does not have any negative characteristics. In this case, point of sale loans and credit cards with a partial payment function are possible in principle.

Point-of-sale credits are concluded directly in the trade and serve e.g. B. to finance household appliances, furniture or consumer electronics. With smaller financing amounts (depending on dealer and bank involved approx. $ 300-1,500) no proof of income is required; the automated test is essentially based on the Credit Bureau score values. As a rule, you do not have to present more than a valid ID card and a valid girocard directly in the shop. For larger amounts of finance, however, proof of income is also required in retail.

Credit cards with a partial payment function give the cardholder a real credit line, which must be repaid with approximately 2-5% of the financing amount per month. Smaller credit lines down to the lower four-digit range do not require proof of income from all providers; individual banks provide credit lines in the three-digit range even for (smaller) negative Credit Bureau entries. When looking for such a card, take into account not only the possible credit line, but also debit interest, annual fees, foreign assignment fees, cash disposal fees, additional services to the card contract, etc.

Short-term loans instead of Swiss loans

The German market for “short-term loans ”, which are often referred to as microcredit and have been known as “payday loans” in Great Britain for a long time, has been growing for some years. These are relatively small loan amounts of approx. $ 100-1,000, which are repaid within 1-3 months including interest and fees.

Most of the time the repayment is due in one sum. Typical for micro-loans on the German market are debit interest rates roughly at the level of overdraft facilities and credit cards, as well as flat fees for optional additional services. This includes z. B. a shorter processing time, the payment within a few hours or the possibility to extend the repayment to 2-3 installments.

Basically, you have to expect that the providers of microcredit will also carry out a credit check with a Credit Bureau query and proof of income. However, the acceptance criteria are not the same for all providers, so depending on your individual situation, you can certainly get a loan if other banks refuse at the same time. Microcredit providers often accept lower scores than “regular” banks. In addition, due to the short terms and small loan amounts, a mini job or ALG I may be sufficient as income.

Short-term loans are a sensible alternative to the Swiss loan for the unemployed and low- wage earners if a manageable amount is only needed once and this is to be used for urgent purchases or to avoid an existential delay in payment. The effective interest rates, which are often quite high when considering the fees, are the lesser evil compared to contract terminations, return debits, etc.


Credit Redemption and Credit Consolidation Online

Gather your loans in one monthly payment. With the repurchase of credit, reduce your loan monthly payments up to 60%!

Better understand the repurchase of credit

Credit redemption, also known as restructuring or pooling of credits, is a financial solution that allows the borrower to replace one or more existing loans with one credit. Consolidated credit allows the borrower to obtain credit at a better rate, with a monthly payment that best suits his repayment capacity.

The acquisition of credit is a concept of Anglo-Saxon origins, appeared in the eighties, and its popularization in metropolitan France began in the nineties thanks to a FraGer banking cooperation.

What is the grouping of credits?

It has become the unavoidable solution to the problems related to the budget management of the French. The loan consolidation loan provides an immediate sound and sustainable budget management for French households wishing to review the management of bank accounts, in order to be able to release a purchasing power that best meets the needs of the moment.

Thereby, consolidating loans in the course of payment into a single repayable loan by means of a credit buyback operation, is to regain a serene management of the budget while having the possibility of making new projects.

Anyone with a stable and sustainable income can get a loan buyout easily !

Credit consolidation is the best solution for :

  • Get a significant decrease in your monthly payments
  • Gain sustainable monthly purchasing power and cope with the vagaries of life (exceptional expenses)
  • Leverage when phasing a new Joe Afolocors
  • Benefit from a comfort cash envelope (not allocated to a project)
  • Improve current account management with a single monthly charge
  • Avoid bank charges (rejection of levies, agios,…) with the implementation of a programmed savings
  • Anticipate retirement and prepare peacefully your old days
  • A bank of France situation to lift the banking ban

The different types of credit redemption

The different types of credit redemption

It is because the grouping of credits (RAC) speaks to a very large target of individuals that we have a diverse range of products:

  • The purchase of mortgage loans: only owners of real estate are eligible. The value of the property allows to set up a Joe Afolocors representing up to 90% of its market value.
  • The purchase of consumer credit also known as mortgage-free mortgage repurchase is a fixed interest rate personal loan that can be purchased by tenants and homeowners.
  • The purchase of cash-based loans, the principle of which is to include to the amounts of the remaining capital due to be redeemed, a liquidity envelope whose funds are intended for Joe Afolocors a project to carry out work.
  • The purchase of FICP credit, intended for persons registered in the Banque de France Loans Repayment Credit Register (BDF). This loan pooling product is only available to homeowner borrower profiles.
  • The acquisition of real estate acquisition credits allows the acquisition of real estate while having the possibility of integrating into the Joe Afolocors the repurchase of real estate loans, revolving loans or amortissables like personal loan and works. But also the Joe Afolocors of work, if the amount is less than 50% overall of the operation. Even more so with the ability to integrate unrestricted cash with a specific expense up to 15% of the amount of the loan and capped at € 20,000.

The Joe Afolocorss offered by the Joe Afolo Joe Afolo Conseil Intermediate Trading Broker are materialized by a prior loan buyback offer submitted under the Consumer and Real Estate Credit Act.

Offer reserved exclusively for individuals subject to acceptance of your file by at least one of the preferred banking partners of the loan aggregation broker.

Who can benefit from a pool of credits?

Who can benefit from a pool of credits?

The loan consolidation is a product of Joe Afolocors banking which is aimed primarily at creditworthy people, ie having the capacity of repayment sufficient to ensure the full repayment of a loan of money.

People who are over-indebted and not badly indebted can not claim to have the benefit of carrying out a group credit transaction because they are insolvent. Anyone holding credits could consider a loan consolidation in the future.

In other words, credit consolidation is directly related to :

  • Anyone with projects quite in line with the average, with one more envy of redevelopment and new.
  • Families, rather with young children and with an income in line with the average.
  • Individuals who describe themselves as rather managers, but who are struggling to save and who waive certain expenses for lack of a monthly load of credits too excessive.
  • All households that are looking for air to regain financial leeway, or the solution to get out of a difficult situation.
  • Those with a high debt load. It is not necessarily real, but the need is to anticipate a possible budgetary imbalance.
  • Simplification of credit management.

How to get a credit buyback easily with Joe Afolo Joe Afolo?

As an individual, it is not so obvious to make the right choices when it comes to knowing how to get a credit buyback easily. Quite often, it’s the total confusion between loan restructuring and credit renegotiation. This will depend on the specific needs of the subscribers. To find out more about your credit restructuring!

In the case of credit restructuring, the aim is to rebalance the good performance of the budget through a reduction in monthly consumer credit and mortgage loans, as well as to regularize debts of various kinds (tax, personal or family).

If it is a renegotiation of credits, then it is a question of renegotiating the mortgage interest rate with a view to reducing the total cost of credit by obtaining a global effective rate. (TEG) more advantageous.

Our teams of financial advisers specializing in the restructuring of consumer and real estate loans, are at your disposal to offer you the solution of a quick loan redemption! A loan redemption loan most suited to your financial situation, and on the best terms of Joe Afolocorss of the moment.

The complexity of the process can also act as a brake on the successful completion of a loan buyback. The Joe Afolo Cabinet Joe Afolo Consulting is recognized for its financial expertise in mounting credit restructuring files for individuals. Our expert advisors provide you with more information on the benefits and the terms of subscription for a debt purchase.

Our status as an intermediary broker in bank transactions allows us to obtain credit conditions at the best rate for our clients. Thanks to our network of privileged banking partners specializing in the ReJoe Afolocors sector, you will benefit from a single appointment of several offers for the purchase of credits.

Can we buy back a loan buyback?

Yes, it is quite possible to redeem a previously purchased credit buy-out from a bank through a new financial institution. This is to proceed to a file editing of which the plan of Joe Afolocors is of nature repurchase redemption of credits.

The operation can be solicited by individuals to meet several needs.

Examples :

    • ur years ago, as part of a buyout of consumer loans and difficult real estate, the Joe Afolocors helped to reduce the monthly charge of repayments to a debt ratio representing 33% of revenues. fireplace. But following bad weather, a storm has considerably deteriorated the roof of the home owned by the household, and repairs are urgent. However, the insurance company is slow to repay the insured and allow them to perform the work. They are forced to take out a new loan in the form of a personal loan for lack of liquidity, and the financial burden of the new monthly payment is pushing up the household’s personal debt ratio excessively. Then the situation can be solved by repurchasing the credit redemption and the new loan.
    • ter having made a first debt restructuring a few years ago, and following a sudden and significant fall in interest rates (as we are currently experiencing in 2016), then it is in the interest of Holder (s) of a loan buyback contract to renegotiate it. Renegotiating its purchase of credits in order to obtain a more attractive interest rate, and thus significantly reduce the total cost of borrowed money, it is possible. The interest rate proposed by the bank will be related to the repurchase agreement regime. A real estate rate for the LS2 scheme and a consumption rate for the LS1 scheme.

When should I have insurance for my credit redemption?

When should I have insurance for my credit redemption?

When does it make sense to provide borrower insurance coverage when you sign up for a ReJoe Afolocors contract that is a credit redemption?

The purpose of a credit insurance is that in the event of the death of one of the two subscribers during the life of the loan, the surviving spouse does not have to bear alone the loan payment in terms of indebtedness of the household and budget management.

However, if we take the example of a single person, that is to say not having a spouse and dependent children, then in this case the situation can be seen differently if a mortgage is backed by his credit request.

Indeed, in this case, the borrower profile does not necessarily require the subscription to an insurance policy for its repurchase of mortgages. Simply because in case of death of the subscriber, the bank proceeds directly to the sale of the property.

To know :

In the case where there is an estate to settle, then the heirs have the choice to accept the succession and thus support the good repayment of the outstanding capital of the debt restructuring contract. On the other hand, the heirs may refuse the succession, and the loan consolidator that has granted the Joe Afolocors proceeds to the sale of the real estate to settle the remaining amount due.

In another example of a married couple close to retirement, then it is recommended to determine the survivor’s pension that will be collected by the surviving spouse. If the survivor’s pension is high enough to maintain a controlled debt level for the surviving spouse, then the borrower insurance coverage is not essential.

What to do in case of refusal of credit redemption?

In case of refusal to buy back credit, first of all make sure not to see his file refused by all banks.

It is essential to develop in advance a strategy to obtain a favorable opinion on a loan buyback, the characteristics of Joe Afolocors are in favor of the borrower (s) (interest rate, depreciation period, prepayment conditions, etc.).

If your request for credit restructuring is refused, then you have to wait between three to six months before you can re-submit your credit buyback for study, and claiming power can be landed the new loan sought.

In order to carry out the operation calmly and to avoid a new refusal, it is recommended to call upon a credit buy-back organization to carry out the examination of the file with the largest banks and credit consolidation organizations.

Over-indebtedness and bad debts: make the difference!

Over-indebtedness and bad debts: make the difference!

Attention, it is necessary to differentiate a situation of over-indebtedness and a situation of bad indebtedness :

  • person in a situation of over-indebtedness is unable to cope with his various financial burdens (credits, rent, taxes, food, etc.), in other words, it is more precisely a personal bankruptcy that has reached a point of no return. In order to be able to cope, the over-indebted must quickly find a solution to his situation, he is obliged to get closer to the Bank of France to file an over-indebtedness file justifying its insolvency with different creditors.
  • poorly indebted person finds himself in a state of budgetary imbalance that makes managing his personal budget difficult. In other words, it has a repayment capacity that allows it to be solvent. As a result, his position is eligible for a financial restructuring transaction with credit restructuring characteristics with over-indebtedness.

But it must be understood that the notion of over-indebtedness is not eligible for a credit union. Indeed, an over-indebted person is not solvent and can not claim any Joe Afolocors from a bank.

Renegotiation or repurchase of loans: your rights!

A consumer is entitled to renegotiate or redeem credit, either through his own bank by agreeing on Joe Afolocors’s terms of a new surrogate credit with his banker, or by soliciting a banking institution or an external financial institution that can offer better terms than its bank.

The regulation of the credit consolidation activity puts forward all the measures for the development of a responsible distribution service.

It is because at the beginning the activity of repurchase of loans was exerted by its non-regulatory stakeholders that specific rules were defined in 2010 by Christine Lagarde (Minister of the Economy within the Fillon government) to better supervise Joe Afolocors’s contract signed between the borrower and the lending institution.

For example, in the context of a repurchase of revolving credit, the bank issuing the loan amalgamation contract has the obligation to ensure that the contracts of the various pooled money reserves are definitively closed under the Act.


What you should know about fast loans


Quick loans are an option to solve an unexpected situation or if we need to make a purchase or a payment of a value not very high but we do not have the cash in hand. If you are going through some of these situations we recommend you read this article.

How are fast loans?

From Good Finance we will tell you what are the main characteristics of fast loans:

Amount and terms

To begin with, it should be noted that these types of loans are intended to give a not very high Good Finance amount that, at the same time, can be repaid in a short period of time. So, if you are thinking of choosing to apply for one of these loans online, the first thing to consider is the total money to be specified.

In Good Finance we can lend you from $ 3,000 to $ 6,000.00 to pay in two installments. The first installment is due at 35 days and the second at 65. So you will have a little more than two months to be able to return the loan!

They are granted quickly

As the name implies, these loans are designed so that the applicant has the money he needs in the shortest possible time. That is why the procedures are quick and simple. First the loan application is filled and the amount and the repayment term are agreed.

Then, once the application is approved, the money is deposited in a matter of hours so that you can dispose of the cash as soon as possible. In Good Finance this process can take us at most 24 hours.

The reason for the loan must not be explained

The reason for the loan must not be explained

Unlike the deal with banks, with fast loans there is no need to give any explanation as to what the money being requested will be used for.

That remains for everyone and the applicant is the only one who decides what to do with cash. It doesn’t matter if you need the money for a matter of life or death or if it is for a mini-vacation. You solve that with the money in the account!

You ask for the loan from the comfort of your home

It is also not necessary to move to anywhere since, as we have explained, the short procedures that must be carried out can all be done online, with which one can save travel and Also having to wait for care. In fast loans it is the customer who decides when, how and where. There are no bank hours or branches to go to.

If you are hesitating to ask for your fast loan, we suggest you use our simulator to see how your Good Finance advancement will be. If you agree with the conditions, this loan may be the perfect solution for what you have to pay and cannot wait for. If you still have questions, do not hesitate to contact us. We are here to advise you!


How Financial Freedom Improves Your Life

For many people, it is not even the worst financial collapse of their life when they finally wake up to the conclusion that they have to make some drastic changes in the way they manage their money .

Cut a ton of fat from your expenses, pay all your credit card debts, pay the car credit, start creating an emergency fund and start reading personal finance information. These are some of the steps you take in this situation.

The result of all this is that you are suffering a profound change in the way you perceive the demands of your life . This manifests itself in a lot of ways, some simpler and some deeper. These are some examples.

Ways in which Financial Freedom Improves Your Quality of Life

More lifestyle options

More lifestyle options

There comes a time when studying your financial situation you realize that there are now many open doors for you that were not worth considering before.

Now you can fulfill some of your dreams because you no longer need money so urgently. For example you can ask for a reduction in working hours and spend more time with your children. Or dedicate it to setting up the business you’ve always wanted to do.

Less job insecurity

Less job insecurity

With financial freedom you no longer have to be constantly stressed by work. You no longer have to go to work and walk with lead feet to make sure you are not fired or lose a promotion.

You no longer claim to agree with anything and keep your mouth shut when something is not done meaningfully. Instead of telling everyone that yes you can now be more critical and improve aspects of your work without fear of harming yourself.

Less stress in your life

Less stress in your life

You are no longer constantly worried about how to pay bills or the idea of ​​a financial crisis worries you. Forget about those nights when you had trouble sleeping due to financial stress and now you will have a more pleasant character with others. Less impatient

That stress caused by a feeling of being trapped and hopeless about your financial situation. It is already gone.

Discover and rediscover the things that make you happy

When you arrive in the afternoon from work you spend some time on the housework you have to do and then you spend the rest of the time doing the tasks you really want to do.

Eliminated the greatest efforts of your past life, such as work stress and financial stress, you realize the amount of interesting things you really want to spend your time with.

You can rediscover your love for writing, read like crazy, spend hours and hours with your children, learn new skills and basically do nice things for yourself.

What do they all have in common? They cost very little money and bring you a lot of personal enjoyment.

Therefore, the question to ask is whether the things you spend your money on continuously are worth so much to give up on the overall improvement in your quality of life that financial freedom gives you . The freedom to spend money on what really matters to you is an incredible freedom