Loan from Private to Private

The credit system of recent years has changed. A loan without Private Credit is no longer just a foreign loan. The credit from private to private without Private Credit has arrived in Germany. The market for personal loans is expanding explosively. More information about the background and possible alternatives offers the contribution.

Loan from private to private without Private Credit – backgrounds

Loan from private to private without Private Credit - backgrounds

Private-to-private credit without Private Credit is one of the most recent developments in the modern credit market. The prerequisites for the success of this business idea are provided by the CB (Central Bank) and the euro crisis. In 2008, it was “lazy loans” from the USA that triggered the extreme public debt of the euro countries. With the decision to save the banks, politics has risked a lot. As the story unfolded, the euro collapse could only be prevented with the greatest risks.

Such a scenario should not be able to be repeated, according to the wishes of the politicians of all countries. The contracts of Basel were closed. In the wake of these contracts, all banks tightened their lending rules. In addition, the CB cut interest rates to a record low. The savings books of the small savers thus became a capital destruction machine. They do not even generate the inflation compensation. The starting signal for successful private loans was thus given.

The personal loan as a problem solver

The personal loan as a problem solver

The personal loan portals offer savers and borrowers a way out of the problem. For savers, the personal loan offers a secure investment opportunity and a fair return on capital. Borrowers, which are increasingly considered a risk to banks, can provide capital. Affected is also the credit without Private Credit.

As a foreign loan, it is increasingly difficult to obtain, because the Swiss banks must also comply with the new rules. The credit from private to private without Private Credit was therefore only a logical step. When formulating the loan request, everyone is free to choose what information is published.

However, the personal loan without Private Credit is not without restrictions. The portals offer security certificates for lending. This allows each lender to get an idea of ​​a borrower’s repayment behavior. Without the purchase of a Private Credit certificate, the chances of larger loan amounts are very limited. By releasing the certificate, however, negative Private Credit entries become visible and have a deterrent effect.

Alternative – credit through the credit intermediary

Alternative - credit through the credit intermediary

In response to changes in the capital markets, credit intermediaries also had to reorient themselves. They no longer offer credit without Private Credit as foreign credit. German specialist providers also grant these loans in the meantime.

They also deepened their relationships with private investors. The credit from private to private and without Private Credit can therefore also come today through a credit intermediary.

How to avoid problems with the payment of personal loans

When Moniekel personal loans are required, either to face an emergency or to finance a project that we have planned for some time, it is very important to take into account a series of aspects that can help us determine what amount we should request and with what institution do it For most people, asking for a personal loan may seem so simple or complicated, depending on the requirements of the institution where they plan to present the application, losing sight of what is really important: payment.

Avoid payment problems

Avoid payment problems

Year after year, hundreds of people face difficulties in not being able to meet the payments to liquidate their loans, and this can have consequences that lead them to face legal proceedings. To avoid all this, the best thing we can do is carefully analyze our options, plan and organize, this to get the most out of our loan, without the payment process becoming a nightmare.

In previous publications in this blog we already presented some points that should be taken into account before applying for a loan, specifically focused on determining if it is the best option for us to solve our liquidity problems in an emergency or to be able to finance a project , such as buying a car, remodeling the home, starting a business or taking a trip. Similarly, we talk about other options that currently exist to solve the liquidity problem, alternatives to loans or credits granted by banking institutions, specifically the pledge credit services. This option is the most recommended for all those people who either are not good candidates for bank loans, because we do not comply with the requirements to access this type of financial service, or because of taste, practicality and comfort we prefer a option that gives us greater practicality and better performance.

As is known, with the pledge credit, there is more freedom in terms of the amount of loans requested, since this depends on the value of the objects that we leave as a guarantee of payment. In addition, to make use of these services, the requirements are really few and in case that for some reason we can not liquidate the loan, the object left as a guarantee becomes the property of the person who provides the service. That is, the consequences of non-payment of payment are much clearer than those stipulated in the terms of service of a conventional loan; On the other hand, the variety of objects that are allowed in pawnshops is quite broad. However, if what we want to obtain an important amount as a credit, it is necessary that we carry several valuable items, or, choose to pawn something more expensive, such as a car. Although the pledge credit may be the option that is most convenient to us, in any case it is necessary that we take into account some aspects that will allow us to take advantage of the loan and comply with the payments as agreed with the service provider.

Repayment capacity

Repayment capacity

The first thing we have to consider is the amount of Moniekel personal loans that we are going to request. The credit granted for a pledge left as a guarantee in a pawning institution varies according to the value it has from an evaluation of its status and its possibilities of placement in the market. For this reason it is convenient that we verify in different places how much money we can obtain for our objects. Although many people get carried away by this factor, and although it is important, it should not be the decisive one, since factors such as interest, commissions and payment terms must have greater weight when deciding where we will commit our pledge as they will influence in our ability to repay the loan. We must not forget at any time that the loan is just that, a loan, and that we will have to return the borrowed amount plus the applicable costs in a set period of time, so it is not convenient that we request a loan that we will not be able to pay, and we are already talking about the consequences that we could face if we do not comply with the agreed payments.

Therefore, before taking a loan we have to analyze our repayment capacity. This means that we value if we receive enough income to pay the installments of the loan or settle it in the agreed fixed term. The next thing is that we avoid requesting more money than necessary, this has to do not only with our ability to repay, or with a regular income, but also with the use we are going to give the loan and service costs. As is known, the higher the amount requested, the higher the interest, so the best recommendation is that we ask for the least amount of money possible and look for other options to pay for the project that we want to finance, such as saving for a while, since the Saving is not subject to charging interest or commissions.

Another recommendation is that we compare several loan options before deciding on one; comparing options includes searching for the one that gives us the best value for our pledge to pledge and the one with the best service conditions, application of interest and commissions, penalties for late payment, among others. The next thing is to choose the payment term; this is rarely taken into account, but if we consider that the longer the repayment term, the more the price of the loan becomes more expensive, we will be able to realize that a shorter term will be more convenient for us. Finally, we need to read carefully the loan contract; This point might seem to be worth mentioning, but we would really be surprised by the number of people who face problems by ignoring the details of the contract. Reading the contract several times and asking anything that we do not understand will avoid future difficulties.

Remember that at Monch Gregory we offer personal loans Moniekel with the commitment of automobiles. To request detailed information about our services contact us, and find the best option that will get you out of any hurry.

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