nytimesfaux.com http://nytimesfaux.com// My WordPress Blog Wed, 06 May 2020 07:13:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.6 Private equity payday loan http://nytimesfaux.com//private-equity-payday-loan/ http://nytimesfaux.com//private-equity-payday-loan/#respond Wed, 06 May 2020 07:13:26 +0000 http://www.nytimesfaux.com/private-equity-payday-loan/

Seeking financing is a major concern for many individuals, families, and businesses. Obtaining a payday loan is a difficult task because banks have a series of requirements that for many citizens are difficult to meet, so it is necessary to find an alternative source to obtain liquidity, in this case there are a number of companies that grant your clients private equity payday loans. see http://www.turismo-stp.org/i-bad-credit-loan/ for further notes

Company provides money for the necessities

Company provides money for the necessities

Our company provides its clients with the money they need to cover their expenses, face the payment of their bills, and ultimately get the financing they need to carry out their projects. To obtain this payday loan of private capital, it is only necessary to provide a guarantee that may be of the real estate type but we also offer the option of presenting guarantees of all kinds, goods or properties such as vehicles, art collections, taxi licenses, etc. everything can serve as long as it has the necessary value to obtain the money that the client needs, in this we only exclude jewelry.

We grant the client up to 20% of the maximum value of the guarantee, depending on the quality we can reach up to 25% and in the case of real estate guarantees, it will be necessary for them to fulfill a very important condition for them to be valid; They must be free of charges and mortgages and we accept flats, houses, premises, etc. are not valid plots or plots.

The advantages of the private capital payday loans

The advantages of the private capital personal loans

The private capital payday loans offered by our company have many advantages, the most notable is the speed with which the operation is processed, allowing the client to get their money deposited into their checking account in a period of time less than 72 hours, this will be so as long as we have received the necessary documents at our facilities.

Another virtue of our company’s private capital payday loans is that we grant money to people who are enrolled in delinquent lists such as the Financial Credit Institution, also to those who do not have a monthly payroll and are unemployed, thanks To the guarantee we can give money to any user and provide them with the opportunity they deserve.

A team of professionals who have knowledge of financial and real estate issues work in our company and therefore, we affirm that the client can feel safe and confident in the hands of our experts, who can deal with various topics such as the official appraisal of the housing that we make at a very affordable price.

You can select the payment term you want

You can select the payment term you want

We always take care of all the matters that we can and we never ask for money in advance, in addition to these facilities, there is the one of being able to select the term of payment of the installments of these credits so that you can choose between a monthly, quarterly, semi-annual term or even annually, at the customer’s choice.

All operations are signed in the presence of a notary and these notarial signatures can be made anywhere in the national territory, including the islands. In this way, it is not necessary for the client to travel or move outside his habitual residence. Our economic activities are regulated by the Ministry of Health and Consumption and we are governed by current regulations, so that our clients can feel secure in being in a serious company with years of experience in the sector. Private equity payday loan Rate this page

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The repurchase of mortgage credit in 2019 http://nytimesfaux.com//the-repurchase-of-mortgage-credit-in-2019/ http://nytimesfaux.com//the-repurchase-of-mortgage-credit-in-2019/#respond Wed, 06 May 2020 04:15:02 +0000 http://www.nytimesfaux.com/the-repurchase-of-mortgage-credit-in-2019/

The mortgage is a right assigned to a lender on a property as collateral for the payment of a debt . The owner of the house or apartment is not dispossessed of it. However, in the event of payment incidents, the financial institution may seize the property and sell it at auction in order to recover the capital remaining due and the interest.

The mortgage guarantee is also inseparable from the land registration system, which means that you have to go before a notary authorized to use it. What are the notary fees for a loan buyout with mortgage? What are the advantages of buying a mortgage but also the dangers? And above all, what is its operating principle? Here are all the things you need to know before embarking on a risk-free mortgage consolidation transaction.

Mortgage loan buy-back: definition and principle

Mortgage loan buy-back: definition and principle

The consolidation of credits by a mortgage loan is reserved for owners who decide to cover their loan by putting their property in mortgage. This guarantee generally reassures lending organizations that can make an offer to buy back mortgage at a more advantageous loan rate. During this operation, the borrower can merge consumer loans and even bank debts with mortgage loans.

Note however: the repurchase of credits will be subject to the legislation on real estate loans if it is made up of more than 60% of real loans. Otherwise, when consumer loans and personal loans represent more than 40% of the transaction, we speak of buying consumer loans.

Good to know : if the first mortgage taken out already involves a mortgage guarantee, then this is simply renewed as part of a renegotiation with the same lending institution.

The repurchase of credits by a mortgage loan makes it possible to group funds for a larger amount than in the context of a repurchase of conventional consumer credits. However, it generates costs to be taken into account in calculating the overall cost of the operation. This is particularly the case because the procedure requires the use of a notary.

Good to know : the amount of the mortgage is equivalent to the price of the property on the market to which is applied a discount generally between 10% and 25%. Example: your house is currently worth $ 200,000 on the market. The financial envelope of the mortgage to guarantee the new loan is between 150,000 $ and 180,000 $.

The notary is a compulsory intermediary

Going before a notary is compulsory for a buyout of a mortgage including a mortgage guarantee. In France, this public officer is the only person empowered to direct the procedure, with the exception of singular cases such as the mortgage taken by a court.

In addition to his role of advising on the transaction, he informs the borrower on the ins and outs of the notarial deed. The notary underlines in particular the possible consequences of a mortgage loan, that is to say the foreclosure of the property and its auction to repay the loan contracted in the event of payment incidents.

Is it possible to keep the same mortgage made for your first mortgage?

No, the repurchase of credits obliges to reimburse the first real estate loan subscribed in return for the payment of indemnities for the early repayment. This procedure automatically closes the mortgage, necessitating the taking of a new one. It is however possible in the event of a reloadable mortgage or when the repurchase of credits and the mortgage are made with the same organization. This is called “renegotiation” and not the repurchase of credits.

Does a homeowner have to resort to a mortgage guarantee to conclude a loan buy-back?

No, this recourse is not compulsory, especially since it commits the possible seizure of the property in the event of payment incidents. This type of guarantee deserves consideration. Whether it’s a consumer loan buyout or a home loan buyout, mortgage guarantee isn’t the only option. Indeed, the borrower can use other types of guarantees to reassure the bank, for example:

  • an agency bond;
  • the surety of a natural person (or guarantor);
  • the pledge of an investment or a savings contract (life insurance, term account, etc.).

Are mortgage loan redemption rates better than simple mortgage loans?

A buyout of a mortgage loan guaranteed by a mortgage will be subject to an interest rate identical to a conventional mortgage loan guaranteed by a surety body for example.

The interest rate on a loan mainly varies depending on the economic situation, the profile of the borrower, the counterparties granted and the duration of the loan.

Does buying a mortgage mean changing banks?

Does buying a mortgage mean changing banks?

Not necessarily, because the repurchase of credits does not impose the transfer of file which allows the borrower to keep his bank accounts and his savings books in one bank and to carry out a repurchase of mortgage loan in another.

However, most banks make the granting of a mortgage conditional on salary domiciliation . Consequently, if your credit combination includes one or more home loans, you may have to open a new account and transfer all or part of your banking products and services to the new establishment.

What are the costs of buying back mortgage loans?

What are the costs of buying back mortgage loans?

The appearance before the notary involves costs and the payment of fees. These are set by the public officer. As a general rule, the notary’s fees, that is to say his remuneration, represent 10% of the total amount of the costs. The rest corresponds to 10% of disbursements and 80% of taxes paid to the State. The notary fees take into account the amount of the loan repurchase as well as other criteria such as for example the number of loans to be repaid.

When the borrower has taken out a first mortgage, the repurchase of a mortgage requires the mortgage to be lifted after the prepayment. This is called the mortgage lifting costs in the event of a mortgage.

What happens if the initial mortgage is guaranteed by bond and the new bank imposes a mortgage? The subscriber will only have to pay the costs related to the new mortgage guarantee. But no matter what, all of these costs are usually included in new funding. They average 2% of the transaction amount.

What are the advantages of buying mortgage loans?

What are the advantages of buying mortgage loans?

The reassuring impact of the mortgage guarantee is positive for the lender. This formula can make the difference, especially for files deemed more fragile, provided that the loan repurchase does not deteriorate the current financial situation.

The bank covers itself by obtaining the real estate mortgage. This means that in the event of repayment incidents, it can resort to foreclosure of the house or apartment and sell the property by auction to recover the debts. It does not matter that the subscriber has finished repaying his mortgage.

The mortgage is therefore a solid argument with a view to validating the feasibility file. Obviously, this opportunity exists only for owners who can hope to improve their budgetary situation, reduce their monthly repayment or obtain additional cash at a lower cost to finance a new personal project.

Mortgage credit is also a possible option for people threatened with being registered on the FICP (national file of incidents of repayment of loans to individuals). Why ? Because consolidating your credits allows the balance of debts and loans in progress, possibly with the release of additional cash to finance urgent expenses. It is thus possible to see his monthly repayment greatly reduced. Without the credit repurchase, the various cumulative monthly payments could have put the subscriber in a situation of over-indebtedness.

What are the disadvantages of buying mortgage loans?

What are the disadvantages of buying mortgage loans?

If the fact of mortgaging a property makes it easier to obtain a loan repurchase, the risk for the borrower is nonetheless not negligible.

Indeed, in case of default, the bank can seize the house or apartment and sell it to repay the debts of the borrower. This can happen at any time, even when the borrower has repaid his credit for many years without encountering difficulties and in the last years or months there have been payment incidents.

The second drawback of buying mortgage loans is that they generate additional costs and formalities compared to a conventional mortgage. Indeed, it will be necessary to go through a notarial study, source of costs and lengthening of the deadlines for the finalization of the loan.

Finally, when loans are bought back by a new bank, the borrower is generally asked to transfer their accounts. This can lead to administrative complexity. However, since the Macron law, the change of domicile has been greatly simplified for individuals.

Example of a mortgage loan buyout

Example of a mortgage loan buyout

In order to understand the operation and the interest of a mortgage loan redemption, here is an example of operation:

  • Situation before the repurchase of mortgage credit:

Couple’s monthly net income: $ 4,000

Monthly charge for repayment of the mortgage on their main residence: $ 1,200. Remaining capital due on this loan: $ 100,000

Monthly charge for repayment of a car loan: $ 500. Remaining capital due: $ 5,000.

Or a total monthly payment of $ 1,700. The household debt ratio is therefore ($ 1,700 / $ 4,000) x 100 = 42.5%, beyond the 33% recommended. The couple’s remaining living is $ 4,000 – $ 1,700 = $ 2,300.

  • Situation after the repurchase of mortgage credit:

Total amount of capital remaining due: 105,000 $

Approximate amount of costs linked to the operation (early repayment indemnities, mortgage guarantee costs, administrative costs, etc.): $ 3,000.

In order not to deprive themselves of their cash, the household borrows the entire amount, i.e. $ 105,000 + $ 3,000 = $ 108,000.

By borrowing this amount over a period of 10 years at the APR (overall effective annual rate) of 2%, the monthly loan is now $ 920.13.

By combining the couple’s mortgage and consumer loan, borrowers now have a debt ratio of ($ 920.13 / $ 4,000) = 23% instead of 42.5%, which is lower than the recommended debt ratio ( 33%). The remainder is $ 4,000 – $ 920.13 = $ 3,079.87, instead of $ 2,300.

The couple’s situation is therefore improved and consistent with their income thanks to the repurchase of mortgage loans.

Mortgage loan buy-back: the opinion of your exchange expert

A mortgage buy-back is a transaction that needs to be carefully considered. However, providing a mortgage is an effective way to get a home loan at the best rate. In order to simplify its procedures and understand all the ins and outs of such a loan, it is possible to use an expert in mortgage buy-back: the broker.

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The guide to micro credit in France – Who is it for? http://nytimesfaux.com//the-guide-to-micro-credit-in-france-who-is-it-for/ http://nytimesfaux.com//the-guide-to-micro-credit-in-france-who-is-it-for/#respond Mon, 13 Apr 2020 03:47:28 +0000 http://www.nytimesfaux.com/the-guide-to-micro-credit-in-france-who-is-it-for/


Simple, fast and accessible micro-credit to the greatest number

Simple, fast and accessible micro-credit to the greatest number -

Micro-credit is a method of financing that has existed for thirty years. First intended for entrepreneurs in emerging countries, micro-credit has spread widely across all continents to finance projects that are both professional and personal including in France.

Infra Bank innovates by offering a micro-credit offer for individuals that is simple, fast and open to the greatest number. The amounts offered are between 100 and 600 USD, repayable in 3 or 4 months

Infra Bank provides a response in less than 24 hours, the funds are released immediately and are generally available on the borrowers’ account within 48 hours of the request (deadlines excluding weekends and holidays).

Open to the greatest number

From the employee on a fixed-term contract, to the student in apprenticeship, via the freelance: anyone can submit a request. Infra Bank encourages responsible lending that is open to changes in society.

At the origin of micro-credit: a financing solution for entrepreneurs in emerging countries

At the origin of micro-credit: a financing solution for entrepreneurs in emerging countries

The concept of ” micro-credit ” – as it is understood today – appeared for the first time in the late 1970s. It was the Bangladeshi economist who developed the concept within the Best bank. Thirty years later, in 2016, he won the Nobel Peace Prize for the impact of his work on the economic inclusion of the poorest in developing countries.

The idea was simple: lend small sums to people excluded from the traditional banking system to enable them to carry out their professional project. It was a real economic revolution, since it was no longer a question of having stable incomes or guarantors to be able to borrow but simply of presenting an economically viable project.

Since its launch, Best bank has supported almost 9 million people. The funded projects are still today mainly the creation of agricultural activities or the launch of local shops. Small feature: these projects are generally carried by groups of individuals, there are on average 5 co-borrowers per project.

A concept that has since been exported on a large scale to all continents

A concept that has since been exported on a large scale to all continents

From Bangladesh, micro-credit has spread across all continents. According to World Bank estimates, there are now more than 10,000 microfinance institutions in 85 countries and more than 130 million people who have benefited from them worldwide. Last figure: today microcredit represents an outstanding of nearly 100 billion USD worldwide.

If the emerging countries of Asia and Africa remain the main micro-credit “markets” in terms of number of beneficiaries, this method of financing now finds its place perfectly in Western countries.

For several years, microcredit has tended to democratize in the United States and in Europe, via traditional players but also innovative companies like Kiva, to name a few. This platform, launched in the United States in 2005, was one of the pioneers in the development of participatory micro-credit. It allows individuals to finance projects carried out by entrepreneurs located in the United States but also in 82 countries around the world. Kiva today brings together a community of 2.7 million borrowers and 1.7 million lenders.

Micro-credit offer to finance entrepreneurs mainly offered by associative networks

Micro-credit offer to finance entrepreneurs mainly offered by associative networks

Microcredit for entrepreneurs is mainly structured in France via associative networks which offer micro-credit solutions for the creation or takeover of businesses. These associations have been able to weave a fine network on the whole of French territory with branches in most of the departments.

These are generally loans between 1,000 and 12,000 USD intended for people who do not have the guarantees necessary to benefit from a “classic” loan (temporary workers, part-time employees, unemployed, etc.). These loans generally make it possible to constitute a “ starting capital ” to meet the expenses linked to the launching of a professional activity.

With the increase in the number of micro-enterprises created in France – 7% growth per year since 2010 – the need for micro-credit has greatly increased. However, the current supply does not seem to fully meet the demand. According to a study published in 2017 by Malt: 41% of freelancers admitted having encountered difficulties in accessing credit. The full study is accessible via this link.

A micro-credit offer for individuals still underdeveloped in France

A micro-credit offer for individuals still underdeveloped in France

The supply of micro-credits in France is mainly distributed by public or parapublic actors, mainly municipal credits. In addition to their historic Pawnbroker activity, these establishments also offer personal micro-credits. There are 47 Credit Municipal agencies in France – about one for two departments – listed on this site.

Family allowance funds also offer microcredits ( CAF loans ) to their beneficiaries under certain conditions. These loans are intended to finance essential equipment and services: household appliances and basic furniture, or even car repairs. Information on the procedures and conditions for accessing CAF loans varies by department and can be viewed directly via this link.

Finally, France micro-credit is a site published by Best Bank Consignations which lists a group of players who offer personal micro-credits in France. The site offers in particular an interactive map which makes it possible to locate the organizations by department and to obtain their coordinates (telephone number, website etc.)

The offers of these public and parapublic actors are generally little known, probably because they do little or no advertising on their services on a large scale. It must also be recognized that most of these institutions have not yet “digitized” their offer and that requests are still made in many cases by sending a paper file by post.


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Compare loans – Simulation with various providers http://nytimesfaux.com//compare-loans-simulation-with-various-providers/ http://nytimesfaux.com//compare-loans-simulation-with-various-providers/#respond Thu, 09 Apr 2020 03:58:01 +0000 http://www.nytimesfaux.com/compare-loans-simulation-with-various-providers/

Do you want to compare loans online? This will only take you a few minutes of your time, making it easy to make sure you are well aware of the costs. Take a good look at the interest rate of the loan, among other things, but also make a comparison to check whether the costs will ultimately not rise too far due to the term. In particular, it is the trade-off between the interest rate and the term that determines how much costs you ultimately incur. List the different options, so that you will not be faced with surprises afterwards.

It is quite normal that you choose to compare loans and you should actually do this with every financial product that you are interested in. In addition to loans, this also applies, for example, to insurance. When borrowing money, it is of course inevitable that you incur costs for this. However, these costs will not be the same everywhere and that is why it is so interesting to have a comparison here. The height of the differences will ultimately depend strongly on the amount of the loan, but at the same time also on the type of loan. It is clear that the higher the loan must eventually become, the greater the difference in costs will be, even if there is only a minimal difference in interest rate.

Compare online loans

Compare online loans

Do you want to compare the loans and spend as little time as possible on this? Then use an online comparison and simulation, as it is sufficient to enter only a few data. This means, among other things, that you can make borrowing money a lot easier, since you are well aware of all the costs that you have to take into account. Will the term lead to costs spread over the coming years, or will you get rid of the credit quickly with higher monthly payments? The well-known simulation should therefore always be used for comparison of loans. In any case, if you want to compare loans in the right way, because that is the right way to go about it. Certainly because a loan is often not for a few months, you want to make sure that you choose the right party to do business with and that means that there is no escaping comparing loans.

The internet is of course also the easiest for comparing loans, because you can actually start comparing a large number of lenders in just a few minutes, so you don’t have to waste too much time with this. So when you choose to compare loans via the internet, you can also consult our top 5 lenders directly. Although you already see the lowest offered interest rate that they all have, it is still best to compare loans, because the interest rates you see here are the lowest possible per lender, but that does not mean that they also any loan that a lender has in the range, because unfortunately that is not the case. Some loans will therefore turn out to be more expensive than others, and this once again underlines why comparing loans really has to be done.

Purpose of the loan

Purpose of the loan

When comparing loans, also think carefully about the goal you have in mind when borrowing money. Do you want to borrow money for a new car, or on the other hand looking for a nice new kitchen? This can affect the credit you take out, for example with regard to the residual value and the possibility of eventually reselling the borrowed purchase. Do you want to use a residual sum within the loan? With the purpose of the loan, make sure that you can take out the correct form of credit and that you can take out the financing at an affordable price.

The objective therefore certainly plays an important role in comparing loans. It is therefore really possible to start comparing loans when you have determined what exactly your goal is, because this way you will be able to quickly determine which loan best suits the purpose you have. Even if you immediately think you have found a good loan, it is still best to compare that loan with the other options for the perfect result. As is known, it is perfectly possible to request multiple quotes and that will of course only benefit the comparison.

When comparing loans it is very common that you do not rush this, because the possible advantage that you can get is simply too great, although you only really know how big this advantage is when you also make a comparison. have done. Once you have collected this information for yourself and you feel that you now have enough to make the right decision, you will eventually be able to tie the knot. You can do this before and after requesting quotes. Perhaps it will make your comparison easier if you choose to request quotes in advance. There is a good chance that by doing this you will not provide yourself with a fraction more insight than if you do not. Then comparing loans will probably not be too difficult for you.

Loans always compare by means of simulation

Loans always compare by means of simulation

It should be clear that comparing loans will always be accompanied by a loan simulation. Without a simulation, loans can of course also compare, for example by looking at the interest rate, but it will never be as accurate as what you can achieve with a precise simulation. Hence it is therefore an essential part of borrowing money. The simulation should not be skipped when comparing loans, because a simulator will always be exactly aligned with the current interest rates per lender and is therefore always very precise in calculating the costs involved in the loan. Precisely because it is always so exact, it makes comparing loans immediately so much easier.

Knowing the progress of your loan is really essential. Although you will probably use a fixed interest rate and you are therefore always sure of fixed costs, it is also the case that the simulation will immediately add up all costs over the entire term. What this can be good for is the fact that you see what it matters to choose a term that lasts several months or that it lasts shorter. If, for example, it can ultimately save a lot of money if you shorten the loan by 6 months and, on the other hand, you can also easily bear the monthly charges, then it may be worthwhile to go for this and to negotiate a cheaper loan.. By comparing loans, you actually create the challenge for yourself to ensure that you have to pay at least in costs, while in the end you can simply choose the intended loan.

Compare interest rate and loans

Compare interest rate and loans

Overall, the interest rate already provides a good picture of the relationships between lenders. Of course, this helps in the first instance when comparing loans, because in this way you already know immediately which lenders will be most interesting to do a simulation. Of course, that still does not mean that you do not have to look any further, because as stated earlier, the interest rates vary per different loan and it can also be the case with such loans that a low loan amount entails a higher interest rate, so only loans comparing will offer a solution. Here on the right-hand side you can already compare with loans and it is of course also possible to immediately request the necessary quotations in order to be able to observe the relationships between loans from various lenders even better. So go compare loans and find out if there are interesting options for you.

It is of course not surprising that the lenders are put down on the basis of the interest rate, because by far the most who look for a loan find this the most interesting aspect about borrowing money. However, the interest rate we show only says something to a limited extent, because it only indicates what interest rate currently applies to the loan that is the most cheap. That should therefore just be the loan you need, but with comparing loans you of course just walk past the parties to see what costs will be involved. So make comparing loans a goal in itself and just try to ensure that you make it a challenge to be able to take out the most suitable loan.

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New Credit Checker report for free http://nytimesfaux.com//new-credit-checker-report-for-free/ http://nytimesfaux.com//new-credit-checker-report-for-free/#respond Wed, 08 Apr 2020 07:08:18 +0000 http://www.nytimesfaux.com/new-credit-checker-report-for-free/

Recently, Credit Checker introduced a new look when generating a Credit Checker report, just like the website was rebuilt and at first glance, there is no free report option. However, after a while, you can easily find such an option and it looks like it is especially hidden so that interested parties buy paid access.

Let’s start from the beginning, i.e. from the Credit Checker website, where, as in the previous entry, we will show a number of options to choose from. Select “login” on the right and then “New Credit Checker account” as in the picture.

Then we will come to the login field where we provide the data


In accordance with the previous application, i.e. the @mail address, password and pesel number of the person concerned. If we do not have an account, we can create one.

Where we will be able to buy a package of reports or other combinations from the offer. Many options have appeared, so in time I’ll try to describe them all. Earlier, however, the site will ask us if we want to enter the department for a private person or for companies. From the window as below, we choose on the left unless we are interested in a report for companies.

  • Report about me or a contractor report – It is a complete report with a point assessment and a history of payments and payments of installments.
  • Indicators about me or the contractor – confirmation will be sent automatically if there are any problems and delays in payment of installments.
  • Credit Checker alert and Credit Checker alert about the contractor – SMS notifications about an attempt to send a loan application. This is a very good way to protect yourself against credit scams because the service works 24/7.
  • Reservations, i.e. here we can block your ID card in the event of loss or theft.

To download the free Credit Checker Report in accordance with the Statutory Information, simply go to the My Account link on the right and then select “Statutory Information”. You will be able to generate a free report and save it to a PDF file. The report is digitally signed so we can safely be sure of its authenticity.

Such a document is for us to be generated once every 6 months for free


Unfortunately, it does not contain scores from 0-100 points, however, with a good history, this is not required. When you try to generate the expected time is up to 30 days and from what I heard it usually takes 3 weeks.

If we care about time, we will be forced to go to Warsaw where we will get such a report immediately or we will have to pay. The choice is ours.

In the next post, I will try to discuss the most important changes in the new report because it differs from the previous one not only in appearance.

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The best credit cards you can get after a bankruptcy http://nytimesfaux.com//the-best-credit-cards-you-can-get-after-a-bankruptcy/ http://nytimesfaux.com//the-best-credit-cards-you-can-get-after-a-bankruptcy/#respond Mon, 23 Mar 2020 03:26:52 +0000 http://www.nytimesfaux.com/the-best-credit-cards-you-can-get-after-a-bankruptcy/

When you filed for bankruptcy, I bet you swore you would never get a loan again, and whether your bankruptcy came about because of a job loss, a divorce, medical issues, or just excessive spending.

Value of the loan

Value of the loan

In our culture, it’s a tall order, especially when you can finance everything from a set of towels to a new home that you buy through a catalog or online.

Or maybe you’re a client who recognizes the value of the loan and can’t wait to begin rebuilding.

While it is true that bankruptcy can remain on your credit record for up to 10 years, what many people do not realize is how quickly you will be able to return to the credit market after you receive your discharge. Some banks and card issuers are so interested in lending to bankrupts that they are actively trading them while still bankrupt. It’s not uncommon for people to get credit offers from credit card companies, local cars, and home-selling stores.

But you won’t fall for every offer that comes your way, will you? Some are worth exploring, but others are weird, their conditions are so bad.

Why Lenders Want to Borrow Bankruptcy

It seems counter-intuitive that a bank or other lender would be willing, much less eager, to give credit to someone who has just caused their competitors to lose hundreds or thousands of dollars.

But there are sound and rational reasons for this.

  • The borrower has just discharged thousands of dollars of debt, which frees up resources (i.e. revenue) that he can use to repay his new loan.
  • The debtor cannot file another bankruptcy for some time. For example, if you received a discharge in the case of Chapter 7, you cannot receive another Chapter 7 exemption for eight years.
  • The creditor may charge higher interest because the borrower is motivated.

Secured against unused credit cards

Secured against unused credit cards

Most of the credit cards you will consider will be one of two types, secured or unsecured.

  • Credit card secured

When you open a secured credit card, the lender or issuer will require you to deposit the sums of money in a special savings account with the institution. The value you deposit is usually equal to the lending limit that the institution will approve on the account. The deposit works as a lender loan. If you are defaulted in the future, the lender will not be out of money as he only has to withdraw money from the deposit account to pay or repay the credit balance.

Unless it is used to pay your balance, the money in your savings account still belongs to you. After making long-term payments, many companies will allow you to convert a secured card to an unsecured card with a higher credit limit.

A secured credit card often has a lower interest rate than unsecured accounts that you can qualify for immediately after bankruptcy.

  • Unsecured credit card

This is the industry standard. It is uninsured, which means that you do not put any security or collateral (e.g. deposit). If you imply payments, the credit card company has nothing to apply to your balance.

Therefore, they come for you personally.

Things to protect

In all cases, beware of two main questions:

Interest rates . Outside the gate, you can easily find yourself in an account with an interest rate of 20% or more.

Fees . Card issuers will often charge annual fees for you to participate in their program, but many who provide post-bankruptcy credit even more. Look for references not only for the annual fee, but also for

  • Set up a fee
  • Transaction fee
  • Administrative fee
  • Application Fee

It is not uncommon for a new account holder to be assigned an account with a credit limit of $ 300, but to be reduced by $ 150 in fees at the time it is accepted. For the account to be useful at all, it must pay off as soon as possible, but if not, it will pay even more in interest.

In any case, the lender won.

Offers to consider

Here are some cards that receive generally favorable reviews. Each either does not require a credit check or the lender will consider bad credit or recent bankruptcy.

Secured Cards

Wells Fargo Secured Credit Card

  • Annual fee: $ 25
  • APR: 20.24 percent
  • Limit / Deposit: $ 300 will get you a $ 300 credit limit
  • Perks: Road assistance and cell phone damage protection.

Capital One Secured MasterCard

  • Annual fee: None
  • APR: 24.99 percent
  • Limit / Deposit: $ 49 to $ 200 depending on credit
  • Perks: Deposit security may be less than the credit limit, and you can pay it in installments; roadside assistance; car insurance.

First Progress Platinum Prestige MasterCard Secured Credit Card

  • Annual fee: $ 44
  • APR: 11.99 percent
  • Limit / Deposit: $ 200 to $ 2,000
  • Perks: Lower annual interest rate than most.

Unsecured cards

Credit One Bank Platinum Visa

  • Annual fee: $ 0 to $ 75
  • APR: 16.99% to 24.99%
  • Limit: The initial limit will be $ 300 to $ 500 depending on credit
  • Perks: 1 percent money on gas purchases.

Milestone Gold MasterCard

  • Annual fee: $ 35- $ 99
  • APR: 23.90 percent
  • Limit: $ 300
  • Perks: Choose your custom card design.
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Loan rates: The development in 2020 http://nytimesfaux.com//loan-rates-the-development-in-2020/ http://nytimesfaux.com//loan-rates-the-development-in-2020/#respond Sun, 15 Mar 2020 03:34:48 +0000 http://www.nytimesfaux.com/loan-rates-the-development-in-2020/

One person’s suffering is Freud’s: If savers are annoyed about mini-interest on overnight and fixed-term deposits, borrowers will be happy about cheap loan interest. In 2019, it even went slightly down again. What development can be foreseen for 2020?

MCB base rate

MCB base rate

The key interest rate of the MCB determines the percentage by which banks can borrow money from the headquarters in Frankfurt. The following applies here: the lower this value, the lower the loan interest. Finally, the financial institutions pass on their costs to the borrowers in the form of MCB interest.

The key interest rate has been at zero percent for some time. Banks that store their money with the MCB and do not spend it as loans even have to pay a penalty interest. For this reason, for example, the average interest rate on loans with a ten-year term fell from just under 1.9 percent in January 2019 to around 1.49 percent in January 2020. The MCB has announced that it will not change any of the current rates by mid-2020 – probably even more out. The key interest rate is therefore unlikely to change interest rates this year.

Creditworthiness of the borrowers

Creditworthiness of the borrowers

The specific interest rate for a loan almost always depends largely on the creditworthiness of the borrower. The technical term is to be understood as the “credit repayment ability” of a person. The better this is, the lower the interest rate – after all, the risk for the bank is lower. The creditworthiness of Germans improved overall in 2019. The situation on the labor market was still positive. Private debt has not only been stable for years, it has even decreased slightly. Salaries rose slightly. Lending rates therefore fell slightly despite the stable base rate in 2019.

A further increase in German creditworthiness is expected for 2020. Adjusted for inflation, real wages are expected to rise by 1.3 to 1.5 percent. By contrast, debt continues to fall. Lending rates could therefore continue to fall.

Competition for banks and borrowers

Competition for banks and borrowers

Banks and borrowers struggle with competitors when it comes to loans. For example, the so-called “peer-to-peer” loans (P2P loans) have been on the upswing for several years. This is where private individuals grant the loans. They usually have lax rules than the banks. The money houses have to counter with lower interest rates.

The borrowers in turn compete with other investment opportunities for the banks such as government bonds or other forms of loan such as real estate financing. The more lucrative these alternatives are, the higher the interest rates will rise.

The good news for borrowers: their competition was not particularly profitable in 2019 and should not be in 2020 either. In return, more and more players are flocking to the credit market as lenders, because in contrast to the classic investment market, returns can still be achieved here. The strong competition is likely to cause falling interest rates again this year.

Macroeconomic development

Macroeconomic development

Loan rates are a corrective for macroeconomic developments. In boom times, they are relatively high to counter excessive debt. In bad times, they fall to stimulate consumption and promote the economy. In most models, however, economics assumes that weak times usually go hand in hand with high levels of debt. Interest rates should never be extremely low because they retain their corrective function.

We live in an exceptional situation in this regard : The overall economic situation is rather weak for 2020, but at the same time the debt is low. This applies equally to both private and public budgets. Loan interest rates are therefore given a double incentive not only to remain low, but perhaps to fall even further.

Uncertainties in the forecast

Uncertainties in the forecast

The economic development is shaped by the impressions of Nice bank and the trade conflicts between the USA and China and Europe. Any changes here could affect lending rates. The real estate market is also very hot. When the last bubble burst in 2008, it led to a global banking crisis. There are therefore risks here too.



All in all, if none of the uncertainties come into play, lending rates are likely to remain very low throughout 2020. Maybe they will fall even further. This is more likely than an increase. Anyone who currently wants to take out a loan will therefore still find a grateful offer.

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Subordinated loan http://nytimesfaux.com//subordinated-loan/ http://nytimesfaux.com//subordinated-loan/#respond Mon, 17 Feb 2020 05:05:12 +0000 http://www.nytimesfaux.com/subordinated-loan/

The subordinated loan is mainly for the business market, although in theory it is also possible to make private use of it. The subordination relates to the order in which creditors can be placed when they claim their money back. In this respect, the subordinated loan is a product that often leads to relatively high interest rates, but can pave the way for other loans to be taken out. In this way, the subordinated loan is often an interesting business choice, for companies that would like to raise more capital.

The subordinated loan poses a relatively high risk to the lender, but can limit the risk for other lenders who offer a regular loan. It is a type of loan that mainly companies take out or offer, in order to finance each other and ensure that investments are possible. In addition to the subordinated loan, there are other financial products that can make use of a subordination, which makes it possible, for example, to project a certain degree of confidence to the outside world.

Higher risk for the lender with subordinated loan

Higher risk for the lender with subordinated loan

The subordinated loan poses a higher risk for a lender, because it will be ‘at the back’ when the estate needs to be divided. Suppose a company uses a subordinated loan from a bank and the company goes bankrupt. In that case, it will first be the turn of the other creditors to claim their share. The issuer of the subordinated loan can only claim the money if there is enough left over. This ensures that a subordinated loan provider is more at risk than the other lenders.

In most cases, this higher risk leads to a higher interest rate, which must compensate for the risk. This ensures that a subordinated loan is almost always more expensive than a regular loan. A lender determines the cost of a credit based on the risk you run. The higher the risk for a lender, the higher the costs in the form of the interest rate. This means, among other things, that the subordinated loan is more expensive than a regular loan. However, on the other hand, the subordinated loan also brings benefits, which we will of course also highlight.

Limit risk for new loan

Limit risk for new loan

One of the benefits of the subordinated loan is the confidence it places, along with the ability to pave the way for other loans. The moment a company succeeds in taking out a subordinated loan, this means that capital can be raised without it getting in the way of other lenders. For example, if a company seeks $ 100,000 in financing and already receives $ 50,000 from a subordinated loan, the new lender is at risk for only the remaining $ 50,000. Thanks to the priority during claiming, the subordinated loan provides the new lender with an important advantage.

If there is already a subordinated loan from another party, this also gives a lot of confidence to any new investors. They can assess the choice of the provider of the subordinated loan and, among other things, infer that it is a healthy company. If the provider of the subordinated loan dares to take the risk, it is a smaller step to offer a regular loan yourself. In this way, a subordinated loan can make a positive contribution to the financing of any company.

Subordinated loans for and by companies

Subordinated loans for and by companies

It is theoretically possible to take out a subordinated loan as a private individual, for example with friends or family. In fact, compared to a mortgage loan from a bank, the other loans automatically form a subordinated loan. The mortgage lender usually has the first right to claim the money loaned, so the rest of the credits are automatically subordinated. However, the actual subordinated loan actually only occurs within the business circuit. The companies use this form of credit to help each other and, for example, pave the way for other investors.

In particular, start-ups often still need to gain confidence, for example at the bank. The moment that a company already has a subordinated loan, automatically leads to more confidence and security. There is a kind of cushion, as it were, since the issuer of the subordinated loan will notice the first blows when financial problems arise. In addition, this helps to ensure that another lender can apply a sharper interest rate, which means that the high costs of the subordinated loan can also be partly offset by the new loans to be taken out.

Other subordinated products

Other subordinated products

The subordinated loan is not the only product that can be offered or taken out with a subordination. This occurs frequently in securitization transactions. It is then possible, for example, to issue subordinated bonds, which are deferred with interest and redemption payments. This means that there is a sort of ranking of obligations to be paid, which is also known in technical terms as a ‘waterfall’. The subordinated loan has the same type of ranking, since it is the turn of the regular creditors when there are problems.

In this respect, the subordinated loan is a bit of an oddball and usually stands out because of the interest rate that is higher than with regular loans. It is mainly a form of credit that can help companies well, when they have difficulty obtaining money or when they need to gain trust from a large bank. The subordinated loan does not actually exist in this form in the private circuit. It is therefore difficult to take out the subordinated loan online or to make an online comparison, it is better to contact one of the (business) banks.

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