A Loan from a Family or a Loan Company?

When we need money, we often use family support, sometimes even sign a contract with our loved ones, but it’s worth considering the option. A critique at plainsnews.com

We need money very much. Sometimes, situations happen when we urgently need cash. Then we often go to someone from the family or to friends asking if they will be willing to help us. Another option is to use an online loan, which we will be able to repay easily without having to indebt our relatives.

Loan agreement in the family

Loan agreement in the family

There are situations when we need money. Unfortunately, often the bank does not want to give us a loan . Therefore, we are looking for another support. The first thing that comes to our mind is to help your family or friends. This solution seems most reasonable. The relatives do not usually refuse, and you can always agree on the sum and the repayment date. Even if we are in trouble, untimely debt repayment will not lead to the visit of the debt collector or bailiff, so – delays will not cause problems. Many of us think so, but before we sign a loan agreement with someone from the family, it’s better to check what it is.

First of all, it is worth finding out whether the loan from the family is taxed. The loan from the closest belongs to the first tax group. We can avoid fees if the amount does not exceed PLN 9,737. In the case of a larger amount borrowed from people close to us, we may be exempt from payment provided we report it to the Tax Office with the PCC-3 print. It’s important to do it within 14 days of signing the contract – then we have to wait for an answer.

Online loans are a good option

Online loans are a good option

Each of us has their own needs, but we can not always afford what we care about the most. Not everyone can afford a loan from the family. They think that a payday loan and an installment loan in a non-bank institution will not be a good option either. Sometimes they are wrongly afraid of the effects of unpaid loans , which is why they give up the opportunities offered by the companies from the loan sector. As it turns out, sometimes they leave the idea too soon.

Meanwhile, using the services of loan companies does not necessarily involve high risk. Everyone who is afraid of installment loans in non-bank institutions should check the exact information about them before making a decision. Loan portals will help. There you will find details on the rules of safe lending. What’s more, we can read the rankings of loans in installments and payday loans, as well as use loan comparison engines. As you can see, choosing a loan company is worth remembering . If we stick to these rules, it may be a better option for us than a loan from the family.

Private loan and online loan

Private loan and online loan

The loan from the family is undoubtedly a tempting option. It allows us to take advantage of financial support, without weakening our creditworthiness . However, when thinking about this kind of obligation, we should remember that money is a frequent cause of conflicts in families. Difficulty in paying off a commitment to relatives can set them apart for many years. In such situations, it is better to withhold the decision and think whether it is better not to take a loan from another source.

When looking for financial resources, it is worth remembering that secure borrowing in a non-bank institution is a right decision, if we are guided by common sense. The use of offers from proven companies should not have unpleasant consequences. If you make a loan on time , you will certainly not be exposed to additional fees due to delays.

Corporate finance: a loan adapted to your needs

 

Active and specialized in solutions, we can offer to finance tailored to your company. Easily and quickly, get the money you need to carry out your professional projects!

Your situation

financing

You are independent, manager of a company, partner, director? If you need financing for a company, we can offer you a loan focused on your needs that will take into account the specificities of your company, your need for money in the short or medium term, and your ability to repay. With defining your own need:

  • Free choice of methods : choose the amount of 10,000 to 300,000 Chf and freely dispose of the amount borrowed. With a repayment term of between 12 and 84 months, you make sure you have the time needed to repay the loan.
  • Fixed monthly payments: whatever the amount borrowed or the expected repayment period, we offer a fixed monthly payment each month. You can calmly plan repayment without running the risk of a rate increase!
  • No administrative complications : with Multicrédit, you are sure to benefit from a financing offer adapted to your company. Our team takes care of most of the steps, you get your loan without administrative complications and can focus on your projects .
  • Free use of the amount granted : whatever your need, it is you who freely choose the use of the money obtained through our financing. Whether it’s financing a project, an investment, you stay in control!

Security and confidentiality

Security and confidentiality

With many years of experience in the field of corporate finance, we place great importance on the security of our customers’ data. Whatever your situation or the needs of your business, we guarantee a 100% confidential treatment of your file.

Contact Us

Contact Us

Whether renovating your office, buying new equipment to stay at the forefront of your field, filling a temporary cash flow problem, or any other investment, the ideal partner ! Do not hesitate to contact us to benefit from an offer as soon as possible!

 

Credit Bank – Loan Consolidation Simulation

 

A bank that listens to its customers is a winning bank for an assured future”. The company creates in 2010, is active in order to improve daily its services for customer satisfaction, which is based on the principles: “Being close to customers, responsibility, seriousness and transparency”. Its main activity being the financial product, it has recently proposed the credit Brer Rabbit, to be able to get closer to its customers. The postal bank offers a new look at the gathering of credits.

The credits, how does it work?

loan,credits

Free your debts: financial institutions offer its customers consumer credit which includes the personal loan, the loan for works, renewable loans … And mortgages. For La Banque Postale, to avoid being in the red, you only need to have one credit with a bank and pay it monthly. An enticing proposition: buy back your debts.

It should be noted that the credit Brer Rabbit is to buy back your debts by giving in return for cash, but not to negotiate the rates to pay. The amount you receive will initially be a way to pay all the debts you have with several organizations. In the end, the postal bank will be the only remaining bank, and this will alleviate the monthly payment which will have a longer repayment period.

Loan aggregation proposal may concern only a portion of your total debt, this is a partial credit. Note that it is not useful to combine consumer credit and mortgage or real estate loans, they are modular and can harm your needs. The ball is in your camp and you choose according to your needs.

The consolidation of consumer credit and real estate is not impossible, however, the prices paid monthly will be even more expensive, the same for the mortgage. The Postal Bank offers the possibility of making another loan to settle other needs in progress. On the net, the information on the ceiling to be followed to have a credit is clearly visible, as an example, the minimum rate granted for the consumer credit depends on the remaining principal outstanding and must be at least 1500 euros and at most 50000 euros .

What are the advantages of credits?

Most French citizens rush to obtain the financial credit to make its projects a success, because of the purchasing power which is constantly decreasing, especially with the help of revolving credits. It turns out that it is a great help for households, but over time, this help will become a big financial problem, certainly, we have our own house, but as soon as we see the bill every month, we realize that we are in the red.

The credit offered by the Postal Bank helps its customers a lot, because it includes all its debts and decreases the monthly expenses, so that they can enjoy their daily life.

Every detail is valuable in a credit deal

credit

For the Postal Bank, it first looks at the source income of each person and all the credits to be paid. The rates of his debts are the first to be studied before embarking on a thorough analysis. Following this study, the advisor of the Postal Bank will determine the possible offers for each situation. It should not be forgotten that a credit  will be part of the bills to be paid every month.

The slogan: “Be close to consumers to better support them! “

“The customer is king”, a proverb widely used in the marketing community. Without clients, a bank will not be able to walk, play on its integrity, or show its seriousness and responsibility in the face of a situation. To listen to all its customers, the Postal Bank can be reached by phone at 3639.

How to calculate mortgage insurance

Group or delegation contract?

The calculation of the mortgage loan insurance rate depends mainly on the nature of the contract. To put it simply, there are on the one hand the “group” contracts offered by the banks or their subsidiaries and on the other hand, the contracts offered in external delegation.

The former calculate the premium on the capital borrowed, the latter on the capital remaining due.

Mutualization of the banking contract

mortgage loan

If you opt for the group contract of your bank, the calculation will be relatively simple since it involves applying the following formula:

Loan Insurance Calculation Formula

Loan Insurance Calculation Formula

Take the example of a couple who borrows 150,000 euros with an insurance rate of 0.30% by choosing the following percentage: 100% for Monsieur and 50% for Madame. The monthly payment will be calculated as follows:

Which gives as result: 56,25 € .

Note that the duration and the credit rate do not affect the calculation.

Individual pricing with an external delegation

mortgage loan

With regard to external delegation, it is not possible to calculate the premium or the rate accurately without having a pricing software. In addition, these results depend on the companies and vary from one contract to another. They are also based on an analysis of the situation of each borrower that combines two variables:

  • The age
  • The capital remaining due at the end of the period following the amortization schedule

In addition, there are many situations that can increase the premium, such as smoking, aggravated health risk or dangerous work. 
In addition, keep in mind that rates may vary from one company to another. It is therefore advisable to go around the competition before choosing.

Choice of the quota

When you buy a loan, the bank requires that you be insured for 100% of the capital.

For this, a couple of borrowers can choose freely to distribute the load on each of them by combining for example the following quotations:

  • Half on each head
  • 70% for Monsieur and 30% for Madame etc.

The insurance portion therefore represents the percentage share of each borrower. 
By choosing a percentage of 100% on each head, it is thus possible to ensure up to 200% of the loan amount. This choice will obviously influence the calculation of the final cost.

The options

No need to talk about rates or premium without addressing the chapter of the insurance contract guarantees. In fact, any tariff comparison must be based on equal guarantees.

Most contracts include death and disability guarantees and incapacity for work (after a 90-day deductible). But looking at it more closely, you will notice that there are some noticeable differences, particularly with respect to disability. We also advise you to read the chapter on exclusions carefully.

Lastly, other factors coming into the mortgage insurance calculation, the options may weigh down the rating as the unemployment insurance.

Restructuring a House: How to Pay the Costs in Installments

Small and big desires, small and big expenses. A new car, a journey, the renovation of the house: some can be put in the background, others are much more urgent.

The renovation of the house, for themselves or for their children, can be a need or a dream; in any case it is certainly a relevant outlay. Often, however, the ratio between monthly income and expenses does not make it possible to pay the necessary costs at once, forcing them to postpone. The work to be done is numerous, and prices rise in proportion. However, there is a solution by which this small desire can be realized by paying the restructuring costs in installments: this is the personal loan.

The personal loan to pay in installments the renovation of the house

The personal loan to pay in installments the renovation of the house

A loan for which it is not necessary to clarify the precise reasoning, the sum of which is requested directly from the applicant’s current account, which is very useful for covering the costs of the renovation works.

If the amount of expenses is included between 2000 and 60,000 euros, the personal loan distributed by IBL Banca is suitable for this situation. The reimbursement takes place by deduction from the current account or by payment through postal slips and the installments, the amount of which is agreed according to the needs of the applicant, remains constant throughout the period of the loan, which can be extended up to 120 months.

Who can request it

Who can request it

Individuals, artisans, employees, pensioners and self-employed workers, aged between 18 and 70, can apply for the loan. The main requirement is an adequate proportion between the income received and the amount requested, as well as the good credit position and therefore the not having any delay in the repayment of other loans in progress.

The request for a personal loan is an excellent solution to pay in installments the costs of restructuring your home or loved ones.

No more excuse to postpone this expense!