authenticfootballs.com http://www.authenticfootballs.com My WordPress Blog Wed, 27 Mar 2019 03:01:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Consolidation of Loans – A Way to Get out of Debt http://www.authenticfootballs.com/consolidation-of-loans-a-way-to-get-out-of-debt/ http://www.authenticfootballs.com/consolidation-of-loans-a-way-to-get-out-of-debt/#respond Wed, 27 Mar 2019 03:01:34 +0000 http://www.authenticfootballs.com/consolidation-of-loans-a-way-to-get-out-of-debt/

Thanks to the consolidation of loans, we pay one lower installment instead of several others, we do not have to remember about the dates of many installments, and we also have the option of obtaining additional cash. See http://saltwaterconnections.org for a write-up

The offer of consolidation loans has been on the Polish market for over a dozen years, in two forms:

– mortgage collateral – in this case, one of the consolidated loans is a housing loan, – a consolidation loan – cash.

Some of the offers currently available on the market enable repayment of loans without having to pay another commission, which means that we have a chance of getting a lower installment. How can our installments be lower? There are two solutions:

– thanks to the extension of the loan period, which makes the installments lower, but the overall cost of credit higher,

– thanks to the use of a lower interest rate than in the case of existing liabilities. This possibility arises because at the moment of loan consolidation, we become a “safer” client for the bank, meaning those who are better at maturing debt repayment in a timely manner.

When is it worth consolidating loans?

When is it worth consolidating loans?

Many people fall into the so-called debt spirals, which consist in repaying one loan, the other, incurring more loans for repayment of loan installments, interest payments, and then we can already say that we have a very serious problem. Often, however, in this situation we stand against the wall and we have no other choice. We are threatened with confiscation of property, and this is a very bad situation. In this situation, consider whether it is worth to sell something rather than let the bank take our property from us. If you sell yourself, we’ll definitely do better. A consolidation loan is a better option than the use of so-called non – bank loans without Retrodatabase, type of payday loans, etc. However, not always. It may turn out that we will pay equally for a consolidation loan as for a non-bank loan. At the same time, non-bank loan agreements, as the name suggests, are granted by companies that are not banks and are not subject to appropriate regulations. Of course, there is the so-called anti-usury law , but despite that agreements in such companies are often very complex and contain numerous hooks that may be disastrous for us. Of course, not all non-banking loan companies use such treatments, but you have to be very careful. In addition, such a company also has to compensate for the risk associated with the borrower’s failure to pay, and he does so through the high costs of such a loan, which is charged to the client.

In what situation is not worth using a consolidation loan?

In what situation is not worth using a consolidation loan?

In my humble opinion, it is not worth using consolidation loans in a situation where we are able to pay our debts, but we want life to be a bit easier and we prefer to reduce the installments and spread credit obligations over time. We will simply pay more in total. It is better to tighten the belt for some time, but this is only my opinion, and everyone in this aspect may of course have different preferences.

Is consolidation profitable?

Is consolidation profitable?

Summing up, it should be stated that in the situation when we are looking for an effective way to reduce our credit obligations, it is worth considering the possibility of consolidating our loans. Thanks to this, we will be able to repay them easily and take a step towards financial freedom. However, it is best to avoid a situation in which we are unable to pay debts and take loans only when it is necessary. A loan is a good source of investment financing, not consumption.

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Spiral Debt – What is it and How to Avoid it? http://www.authenticfootballs.com/spiral-debt-what-is-it-and-how-to-avoid-it/ http://www.authenticfootballs.com/spiral-debt-what-is-it-and-how-to-avoid-it/#respond Sat, 16 Mar 2019 07:43:52 +0000 http://www.authenticfootballs.com/spiral-debt-what-is-it-and-how-to-avoid-it/

Problems with maintaining financial liquidity are common, sometimes it turns out that the additional loan did not help us overcome the financial turmoil, but only deepened it, and then there is a serious threat in the form of a spiral of debt.

Managing your home budget is not easy at all. Especially when there are sudden expenses with which we are unable to cope alone. Then in our head the idea of ​​borrowing is born, which are currently at your fingertips. Everything would be good if it was not for the fact that some of us can not lend responsibly.

The concept of debt spiral

The concept of debt spiral

The debt spiral phenomenon occurs when the number of financial arrears that we do not repay on time increases. In such a situation, the basic mistake is to incur further installment loans , which allegedly help in repaying at least part of the debt. Very often, customers use this method until further companies refuse to borrow cash.

In the spiral of debt, you can be found extremely fast – especially if you have a free attitude to money. At first, we may think that incurring one commitment to pay off the previous one is a good idea, but before we look back, we will take the eighth loan to settle the seventh. It’s a vicious circle. When we finally realize that the financial loop has absorbed the rest, it will be too late to leave, because we will not avoid the consequences of unpaid loans .

How not to fall into the spiral of debt?

How not to fall into the spiral of debt?

Although the spiral of debt is a real threat, it can be avoided. First of all, if we have problems with repayment of debt , we must act. Problems with settling liabilities must not be underestimated. Contact with a loan company that decided to grant us financial support is very important. If we are not satisfied with the amount of installments or the repayment date, it is worth discussing with the lender and renegotiating the terms. Nobody cares for us to fall into a financial trap.

If we find ourselves in a difficult situation, and the pile of calls for payment will grow, let us not panic. The sober assessment of our position is important. One should realistically approach our needs and reduce expenses as much as possible. A good way is to make a list of fixed fees, which will tell us what our budget looks like and what free amount we have. In a difficult financial period, we should give up pleasure and focus on regulating debts.

We should always assume that the future can not be foreseen and that caution is never enough. Even the most responsible borrower can quickly get into financial trouble, because often small debt turns into a big problem .

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How not to Overdo the Loan for Any Purpose? http://www.authenticfootballs.com/how-not-to-overdo-the-loan-for-any-purpose/ http://www.authenticfootballs.com/how-not-to-overdo-the-loan-for-any-purpose/#respond Mon, 18 Feb 2019 08:55:37 +0000 http://www.authenticfootballs.com/how-not-to-overdo-the-loan-for-any-purpose/

Non-bank institutions tempt us with slogans about quick loans that we will get for any purpose, but it is worth remembering not to overdo it with the amount of our obligation.

When we decide on a loan, we should carefully select the sums we need. Although loan companies do not require us to specify the goal, it is worth determining what we plan to allocate money. Then, determining the installment amount and the loan repayment period will be much easier.

A quick non-bank loan is a tempting option

A quick non-bank loan is a tempting option

The possibility of obtaining money for any purpose is a very advantageous option. We do not have to explain to anyone what we want to spend, and whether it is profitable. Such liberty, unfortunately, sometimes leads to the fact that we belittle our loan and spend the money received carelessly. We forget to calculate the cost of our loan, which causes us unpleasant surprises in the form of fees that we have already forgotten about. In this case, there may be indebtedness which will be included in the relevant registers. Non-systematic regulation of installments means that even a small debt becomes a big problem that not everyone can manage.

Loan companies do not ask about the purpose of the loan

Loan companies do not ask about the purpose of the loan

More and more often, when the bank does not give us support, we apply for an installment loan. The advantage of this option is that we are not asked about what we want to spend the funds on. Therefore, we can deal with the amounts and repayment terms quite freely. However, when we do not keep our judgment, we can overdo it and take out a loan that we will not be able to repay in a timely manner. Especially when paying off the installment loan, it is worth remembering the additional costs that accompany the subsequent installments. If we incorrectly determine the sum and repayment period, the fees may exceed our financial capabilities.

Before you take out an installment loan, check your budget

Before you take out an installment loan, check your budget

This raises the question of how not to overdo the amount when applying for an installment loan ? Some of us lack self-discipline, which makes it more difficult for them to be wise. It should be our foundation. Even if a loan company does not require us to provide a goal, it is worth concretizing it. It will give us motivation to systematically repay installments and avoid unnecessary expenses. If you want to take out a loan safely, learn how to manage your own budget properly. When we have it under control, we know exactly what our financial situation is and, as a result, we are able to determine what expenses we can afford.

It is worth comparing installment loans

It is worth comparing installment loans

When planning a larger commitment, the basis should be to match the loan to our needs and financial capabilities. How to do it? Sometimes it’s enough to use one of the loan comparison websites. They allow you to compile offers to choose the one that will be the best for us. We will find them on financial portals, which are a competent source of information on loans and the use of such services. If we read the advice about non-banking institutions, we will know everything about how to take out loans on the web and, as a result, we will avoid many mistakes.

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