Month: February 2020

Loan applications increasingly detailed

The purpose of the new regulation is to be to facilitate the operation of loan companies and other entities. More personal data means a more precise determination of the applicant’s creditworthiness, and hence lower credit risk for the lending company.

An additional plus will be reducing the number of over-indebted people who sometimes hide their bad situation to get another loan, which in the end they have nothing to pay for.

Security of personal data

In view of the exchange of such meticulous personal data, it is striking that institutions authorized to process such data are ready for the upcoming changes.

On the one hand, undeniably, loan companies will be able to more accurately than before determine the borrowing capacity and credit risk of the commitment given. On the other hand, not all institutions in the non-banking sector are large corporations.

There are also start-ups in our market

They are successful, but they do not have international experience and high capital that could invest in systems that simultaneously allow the processing of such a large amount of data while maintaining a high quality of security.

Of course, large institutions operating on our market, presenting the highest level, sometimes exceeding the banks, are ready to process more personal data of customers. For these biggest players in the banking sector, it is a great opportunity to expand the currently offered offer – greater knowledge of the customer will allow them to define their needs more accurately, and thus to prepare products ideally suited to the expectations of customers.

According to Jerzy, president of the Polish Bank Association, the right solution would be to provide detailed information to entities prepared for it, i.e. large companies that will be able to guarantee the security of personal data entrusted to them.

However, the Association of Loan Companies does not agree to such selection and discrimination against smaller entities. Lending companies already acting in accordance with the T Recommendation issued by the Polish Financial Supervision Authority regarding good practices in the field of retail risk management of credit exposures collect from their clients the information needed to assess their creditworthiness and credit risk.

Avoiding excessive debt

The Ministry of Finance maintains the position that everyone, i.e. small, medium and large institutions, will benefit from the regulation as proposed. In-depth customer verification will reduce the scale of recent identity theft.

Even if the thief comes into possession of data from our ID card, he will still have a problem with further completing the application, including providing information about having rights to the premises, or even the names of the parents and mother’s maiden name. Above all, however, our creditworthiness will be determined with greater accuracy, which will avoid excessive debt.

Therefore, the issue of transferring our detailed personal data from one institution to another seems strongly controversial. On the one hand, there are many positive effects of such activities, but on the other hand, it seems obvious that not all entities will ensure 100% security of processed data.

Categories: Uncategorized

Self-Employed Loan – Calculate Loan: Credit Comparison & Loans Without private credit checker

To facilitate business start-ups, NRW offers…. more than two thirds of all loans granted. Two large groups are self-employed:

Funding database – funding search

Funding database - funding search

In cooperation with Bank supports the promotion of start-ups and investment projects by young companies and freelancers in the first five years after the company was founded. any form of company formation (foundation of a new company, takeover of an existing company, takeover of an active company participation), successor agreements (“takeover of an existing company”, takeover or increase of an active company participation), investment projects, e.g. for expansion (including relocation), renewal, Lean, change of production processes and product range or for the purchase of companies, operating resources and warehouses (also independent of investment projects).

Natural people can submit applications regardless of the time of their previous independence if they have actively participated or increased. Baden-Wuerttemberg must be considered as an investment location. In addition, debt restructuring cases, restructuring cases and companies in need within the meaning of the General Group Exemption Regulation are excluded from the financing. If sufficient loan collateral is not available, the commercial bank can obtain a guarantee from the bank.

Emigrate, but correctly!

Emigrate, but correctly!

Even if you think you’ve found a good business idea or employment contract in your new country, you still need start-up funding. In Denmark, for example, it is particularly popular when you are looking for credit.

This is so boring, but so important: emigrants should bring the language of the country of destination with them! Of course you will not have the same language quality as a native speaker, but a certain basic understanding and vocabulary of the national language should be available.

The reserves should be available for a period of one year without income. It can be very risky to achieve self-employment abroad only with loans. Even the best business ideas take time to be good. Note: If you plan well and sustainably, learn the foreign language, write everything and have a financial cushion, nothing stands in the way of a successful emigration.

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Loan for pensioners – above 70 years old

Debtors in the age group 70 to 74 years 65 percent more loans are taken out. Below you will find information on balances for pensioners over the age of 70. You will receive practically no credit over 70 years. However, it is not easy for pensioners over 70 to get a loan.

Credit for pensioners over 70 years

Credit for pensioners over 70 years

Apply now for free credit despite the school’s efforts! Today, many credit institutions are no longer prepared to offer loans to older people aged 70 and over. A loan for pensioners can therefore only be obtained with a great deal of time. If a house bank willing to borrow has been identified, it is only granted the appropriate conditions.

Financial institutions often require appropriate security or even take out credit insurance, so that in the event of death, the relatives do not have to pay the rest of the debt. But it should not be overlooked that pensioners have a very secure source of income, because the monthly pension is secured and is always paid on time.

In addition, a pensioner can no longer lose his job. However, many credit institutions require securities in the form of existing assets that can be quickly converted into cash in the event of a default.

Securities are usually required to take out a loan for pensioners over the age of 70. However, the latter must have regular and fixed capital. the like. If a new vehicle is to be acquired from the loan, the loan can be structured in such a way that the house bank receives the vehicle registration document until it is fully repaid.

Especially in old age, credit institutions attach great importance to security.

Apply now for free credit despite the school’s efforts!

Apply now for free credit despite the school

The former retirement age is gradually being increased from 65 to 67; at the age of 70, a pensioner has been receiving a pension for several years. Many financial institutions are reluctant to grant loans to a pensioner over the age of 70 because they consider the risk of default to be high.

The same applies to the emergence of the need for care, which increases the subsistence costs. For this reason, credit institutions often require the purchase of an installment insurance policy for a loan to a pensioner with over 70 years of professional experience.

Alternatively, it is possible to take out sufficient life insurance to repay the loan or guarantee the default of the future testator. The modern generation of pensioners is more responsible in financial matters than many young people, so that the individual willingness to repay loans is greater than average for debtors aged 70 and over and the inevitable higher default risk due to natural events is partially eliminated.

Biological risk management means that financial institutions prefer a short-term loan for pensioners over 70 years. Financial institutions often equate monthly with monthly, so they do not include the private supplementary benefits that are paid every two or three years. In most cases, banks do not include additional income from continued professional activity in the income from a loan for pensioners over 70 years of age, as the likelihood of termination of employment is high during the life of the loan.

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