timeimmortal.net http://www.timeimmortal.net Just another WordPress site Mon, 29 Apr 2019 12:47:58 +0000 en hourly 1 https://wordpress.org/?v=5.2.2 Financial comparison of loans installments http://www.timeimmortal.net/financial-comparison-of-loans-installments/ http://www.timeimmortal.net/financial-comparison-of-loans-installments/#respond Mon, 29 Apr 2019 12:47:58 +0000 http://www.timeimmortal.net/financial-comparison-of-loans-installments/

Financial comparison of loans. Is it worth using it? There are many ways to find and compare financial products on the internet, not just loans. There are, after all, websites that offer a useful tool to help you make the right decision.

But only a small fraction of all these websites are professional websites offering a comparison of product offers and financial services. Why? Because it involves very large costs of running such a website. Indeed, such entities earn on commissions from the sale of products, but it is also the need to put valuable information created by a large group of professionals, often experienced journalists, and it costs.

Financial comparison websites enable comparison of such financial products as: mortgage loans, cash loans and loans, auto loans, consolidation loans as well as credit cards and bank deposits. An example of a comparison engine provided by bankier.pl: a comparison of cash loans.

Financial portals also contain an educational part, in which we can find guides on saving, rational and responsible lending or explaining individual loan products.

Popular loan and financial comparison websites offer their users specific financial solutions, but is it always the best source of knowledge and information about financial services? Not necessarily, because websites seeking to maximize profit can promote those financial products that are the best of their business point.

Professional financial comparison of loans

Professional financial comparison of loans

What should the best financial comparison engine characterize? What factors influence such an assessment? Certainly such a comparison engine should be constantly updated and reliably present data. This is not an easy task, due to the specificity of the compared financial products and the financial situation of clients. It is not possible to create the best and reliable credit rating for the whole group of clients. No comparison engine takes into account the consumer’s creditworthiness and credibility. And both these factors have a very large impact on the attractiveness of the offer.

Each company that provides a product, which is a financial comparison engine, focuses on the objectivity of the offers presented. But is it always like that? Can we be sure that a given comparison engine is independent and tries to present data objectively? As already mentioned above, such companies are focused on generating profits and not necessarily product No. 1 in the comparison engine will actually be the best offer.

Similarly, many people who can be consulted on the Internet regarding financial and credit advisors report similar objections. To what extent is such an adviser independent and presents us with the best loan offers?

Comparator and credit ranking

Practically all the comparison websites, well, except for one or two “black sheep”, present offers – let’s write in the “rankings” – in a clear and legible for every user, showing: loan installment, commission, nominal interest rate, insurance required and APR. And now the main thing is: how much is the data presented real?

If banks offer nominal interest rates with a standard offer the same for each client, then there is no problem. But if it is a promotional interest rate, variable, depending on the purchase of an additional banking product, then such an option will no longer be included in the comparator or presented to a limited extent.

The same applies to commission . Virtually in any of the banks we will not find one standard commission. Banks set the commission very often individually, and in the table of fees and commissions, the possible range or information about the commission is not found! In the credit comparison engine, the search results of the representative example are given in the search results.

Large websites that provide financial comparison engines, however, try to explain the complex financial world. Do you know what is the loan margin, loan rrso, BIK and BIG, nominal interest rate, when to choose a cash loan, and when to use a mortgage? We often find answers to such questions in these types of websites.
Comparing services and financial products

The best possible comparison of products available on the financial market is very important from the point of view of the consumer. It is possible to choose a cheaper loan or the best bank deposit.

The most common comparison among credit products is the comparison of cash loans and mortgage loans. The second group consists of bank deposit comparison engines and a bank account comparison engine (or a search engine). We can definitely find comparators for consolidation loans or car loans. Not because of the lack of offers, but because of possible credit options. For example, consolidation loans can be divided into cash and mortgage consolidation loans and a harmonized comparison of these loans is no longer possible.

The best financial comparison engine

Comparators are often also called bank comparators or, less fortunately, loan installment calculators. While the first name, “bank comparison engine” is the most desirable and should rather replace the “loan comparison engine”, the second option may be misleading.

The loan installment calculator ( loan calculator) suggests that using such a tool, we will calculate loan installments. Unfortunately, we will not enumerate. The amount of loan installments, apart from interest and commission, also depends on the creditworthiness and creditworthiness of the consumer. And these factors are not included in any calculator (comparator). This is not possible at this stage. When checking the client’s creditworthiness, the bank must download data from the Credit Information Bureau and, based on the credit history, evaluate the potential lender. A customer who has a higher credit rating by the bank can count on a much better offer. In addition, each loan offer can be negotiated.

As can be seen from the above findings, the loan comparison partner is not a loan installer, but only estimates their amount and provides basic information about loans. For this reason, financial comparison websites should rather be called bank comparators, because their general assumption is to provide basic information on financial products of banks. A separate matter is the comparison between loans and loan companies.

Each such financial comparison engine is very easy to use, because you only need to provide basic parameters such as credit and the comparison engine will search for banks’ offers. The next step is only sending a contact form to a bank or financial advisor (or submitting a loan application if it is a loan via the internet). Then you just have to wait for the contact from the advisor. Sending the form, of course, does not oblige us to use the offer of a given bank.

Access to financial comparison websites is free and everyone can use the information available in the given website. There are exceptions, but there is no point in using paid content provided on websites.

The first financial comparison engineers were of course created in the United States, and the idea was relatively quickly adopted (with more or less success) on the Polish market. Lack of sufficient knowledge about finances and the number of bank offers very often make it impossible to compare financial offers. In this case, the consumer is “condemned” to the need to use such tools. Remember that the comparison engine will not objectively assess the best offer, will not choose the cheapest loan for us, and can only be a help in choosing a specific offer.

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Best Loan Consolidation Organization http://www.timeimmortal.net/best-loan-consolidation-organization/ http://www.timeimmortal.net/best-loan-consolidation-organization/#respond Sat, 13 Apr 2019 18:16:35 +0000 http://www.timeimmortal.net/best-loan-consolidation-organization/

To get the most advantageous loan, or at least the one that best suits your situation , you need to know who to contact and find the best organization to meet your needs because there are several consolidations of loans. However, there are different organizations that can be approached for this approach, which have policies and offers that are different from each other.

The different types of organizations for a loan surrender

Intermediaries (brokers) : They are growing more and more, including on the Internet. As the name suggests, they act as a bridge between you and the organizations that can accept your loan buy-back. However, the cost of loan will be higher if you go through this because these intermediaries receive a commission. Also check if you are speaking to a professional and that they do not privilege this or that organization according to their acquaintances and not your situation.

Banks : In this case, you turn to a professional and recognized organization with an adviser available to follow your file. However, you are not required to contact your bank for this consolidation. It is also advisable to play the competition between several banks.

Other financial institutions : Some organizations have specialized in the purchase of loan. They will therefore be more demanding about the quality of your file and the stability of your financial situation.

How to find the best organization?

How to find the best organization?

Many clients do not specialize in buying back loan when they begin the process. It is for this reason that intermediaries such as loan comparators or brokers exist, to better guide and assist them in this task. The two are often in direct contact with these organizations and will be able to give you a personalized feedback to tell you which ones are best suited to your situation. In the case of loan comparators, do not hesitate to compare the results of each to ensure their reliability.

Remember that the interest rate of banks and loan organizations may be temporary and likely to change over months and years. Also, some organizations will only accept the consolidation of consumer loan or real estate loans where others can bring the two together.

How to negotiate?

You have to know that you can negotiate several elements for a consolidation of loan. You can change the interest rate of the loan, the broker’s commission, the consolidation fees, the expenses of file or insurance . You can also push the organization that accepts your purchase to make a commercial gesture by threatening to leave after signing. Thus, it is always advisable to play the competition by studying several offers at once and presenting them to other organizations to encourage them to react accordingly.

That being so, everything also depends on your situation and your file because the more you offer guarantees regarding your reimbursement and your income, the more you will be able to ask for these adjustments. They must therefore be presented with all the elements likely to tip the balance in your favor, your last statements of account or the mail of the person who guarantees your loan. An individual who has mismanaged his expenses or has only a temporary contract will be viewed less favorably. This is to prove the seriousness of his file.

Note that it is generally simpler to negotiate fees rather than rates since this last point is as important to you as it is to the organization.

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Can one resort to the consolidation of loans in fixed-term contract? http://www.timeimmortal.net/can-one-resort-to-the-consolidation-of-loans-in-fixed-term-contract/ http://www.timeimmortal.net/can-one-resort-to-the-consolidation-of-loans-in-fixed-term-contract/#respond Thu, 11 Apr 2019 18:20:00 +0000 http://www.timeimmortal.net/can-one-resort-to-the-consolidation-of-loans-in-fixed-term-contract/   

You are in fixed-term or temporary with several credits in progress and your ends of the month are difficult!

You are in fixed-term or temporary with several credits in progress and your ends of the month are difficult!

However, it is possible under certain conditions to group together all your current loans and thus find healthy finances and a better quality of life.
The purchase of credits is a tailor-made solution for fixed-term or temporary employees who have subscribed to several credits and who have difficulty meeting their monthly deadlines regularly. This credit consolidation allows you to consolidate all your existing credits into one single loan . This solution is strongly recommended if the multiplicity of your monthly payments raises your debt ratio beyond 33%. By intervening before this situation worsens, the purchase of all your credits will reduce all of your monthly payments to one and will give a serious breath of fresh air to your budget.

This new single credit will have an extended duration , a lower rate and a single monthly payment that can be up to 60% lower than the total of your current monthly payments. In some cases, depending on your overall financial situation, this purchase of credits may also allow you to build up savings and / or to realize personal projects.

The conditions for setting up a credit consolidation and finding healthy finances are:

– You benefit from a fixed-term or temporary contract and your co-borrower benefits from a permanent contract.

– If you are on a fixed-term contract, you have at least 6 months of seniority and it remains at least 4 months before the end of your contract.

– If you are temporary, you must have at least 3 years of seniority in the same sector of activity.

Whether you are on fixed-term or temporary and over-indebtedness, the purchase of credits is a solution adapted to your situation to take back your budget and regain a good quality of life. So grab this opportunity and make a simulated credit consolidation today on our site.

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Consolidation – protect against bankruptcy http://www.timeimmortal.net/consolidation-protect-against-bankruptcy/ http://www.timeimmortal.net/consolidation-protect-against-bankruptcy/#respond Sun, 24 Mar 2019 18:28:19 +0000 http://www.timeimmortal.net/consolidation-protect-against-bankruptcy/

Based on the legal provisions on consolidation, it can be concluded that in the regulations on bankruptcy and consolidation, the latter is treated as a priority. Before separate provisions on the bankruptcy and consolidation law, entrepreneurs could not use such a large range of corrective or indemnification measures to protect against the collapse of the company. The legal provisions on consolidation are designed to provide more flexibility for entrepreneurs in the area of ​​possible options for the company’s problems.

As part of the regulations regarding the consolidation of companies, you can use a lot of solutions before bankruptcy is declared. This allows you to choose different and optimized solutions. Solutions that can be used include accelerated system management, system and sanation proceedings as well as approval of the system. It can be concluded that the consolidation provisions indicate that consolidation should take precedence over the liquidation process. When the applications for bankruptcy and consolidation are submitted to courts at the same time, they are first and foremost to decide on the recognition of consolidation applications.

Recognition of consolidation applications as having priority means that enterprises will be protected from activities under enforcement proceedings.

Recognition of consolidation applications as having priority means that enterprises will be protected from activities under enforcement proceedings.

This translates into increased opportunities for the debtor to be able to effectively negotiate with contractors. They are aimed at creating such a system or agreement that will allow the company to function.

Getting a deal with creditors does not require that you get an agreement with all creditors. The use of the partial layout allows for the possibility of creating a partial layout. In such a system it is necessary to obtain agreement only with the largest creditors.

Insolvency

When there are temporary problems in a solvency enterprise, you can use much more flexible forms of responding to such problems under the consolidation law. This applies, inter alia, to the lack of criteria, in which failure to pay two invoices within a time could lead to the declaration of the company’s bankruptcy. This allows you to take appropriate consolidation measures well in advance.

In addition, the company may also apply for obtaining public aid, which is aimed at ensuring that the consolidation process is carried out effectively. At the same time, enterprises may also decide to use the assistance of consolidation advisors. The appointment of such an adviser does not take place only in the courts, but the advisor may also be appointed by the creditors as well as the debtors. In specific proceedings, the advisor will be able to, among others, control the activities undertaken as part of consolidation by the debtor. His tasks also include negotiating or closing agreements with creditors.

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Consolidate consumer loan and cash reserves http://www.timeimmortal.net/consolidate-consumer-loan-and-cash-reserves/ http://www.timeimmortal.net/consolidate-consumer-loan-and-cash-reserves/#respond Sat, 02 Mar 2019 19:14:02 +0000 http://www.timeimmortal.net/consolidate-consumer-loan-and-cash-reserves/

The amicable settlement of the debt

Households seeking to get out of the negative spiral of over-indebtedness have an interest in “purging” all the recourses available to them before deciding on a merger operation .

Clearly, the purchase of loans is not the only way out. The priority objective is primarily to reduce the monthly payments and to find a debt ratio correct, we advise to try beforehand a negotiation file by folder with each creditor.

The good commercial relations that some customers maintain with their bank can sometimes serve as a basis for an amicable negotiation. The latter is often understanding and agrees to redesign the loans of its customers.

Moreover, it is a safe bet that she will prefer to be conciliatory rather than risk leaving a client unable to settle his debts.

Administrations also quite frequently accept tax averaging for taxpayers who are in financial difficulty.

The use of a broker

The use of a broker

The most usual way to group your credits is to use a professional. The latter makes it possible to circumvent the numerous obstacles that do not fail to arise in this type of situation, such as:

  • Facing the complexity of mounting the loan file
  • Find the different specialized banks likely to accept the consolidation operation
  • Verify the feasibility of the operation
  • Establish funding studies
  • Present the request to the financial institution and argue in favor of the borrower

The additional cost of the loan consolidation operation

The additional cost of the loan consolidation operation

If consolidating all its loans makes it possible to obtain a lower monthly payment, one must be aware that this operation will increase (sometimes considerably) the cost of each loan.

To fully understand the consequence of such a decision, we propose a numerical example showing the gap between the two situations encountered by a household. The first in the debt distress phase and the second after a consolidation operation. To facilitate the study, we decided to show results excluding borrower insurance.

 

Numeric example

Take the example of a household whose professional income amounts to 2500 € net monthly whose financial situation is as follows:

Wording Rate (1)

Capital

the rest of

Monthly

duration

remaining

Cost of credit in case

unchanged

Car Loan 6.70% 13000 € $ 255.52 48 months € 12,264.96
Revolving loan 15.60% 3000 € $ 126 30 months (2) € 3,780
Real estate loan RP (3) 4.20% € 122,200 € 916.20 180 months € 164,916
Consumer loan 7.25% 3000 € $ 119.52 20 months $ 2390.40
Overdraft 17% 2000 € (4) $ 340
totals 143 200 € $ 1416.92 $ 218,295
Household debt ratio 56.6%

(1) Proportional rate excluding insurance
(2) Given the possibility of reusing the reserve, we will go on our example over 30 months.
(3) Based on an initial loan of 170,000 euros over 25 years at 4.20%. We assume that the outstanding capital takes into account prepayment penalties.
(4) Calculation on the basis of an average debit balance of € 2000 to 17% over 12 months

Solution number one

Duration: 240 Months to 4.80%
Monthly € 929.31
Total to pay 929.31 X 240 = 223,034 €
Debt ratio 37.17%
Monthly gain in purchasing power $ 486
Cost of aggregation of credits compared to the original situation: $ 4739

Solution number two

Duration 300 months at 5.50%
Monthly $ 879.37
Total to pay 879, 37 X 300 = 263,811 €
Debt ratio 35.17%
Monthly gain in purchasing power $ 537
Cost of aggregation of credits compared to the original situation: $ 45,516

Solution number three

Duration 360 months at 6%
Monthly € 858.56
Total to pay 858, 56 X 360 = 309 908 €
Debt ratio 34.34%
Monthly gain in purchasing power $ 558
Cost of aggregation of credits compared to the original situation $ 91,613

 

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