MonthJune 2019

Consumer credit from 18 years

Nowadays, with the rapid growth of the economy and the lending industry, the need to borrow credit is increasing. Credit borrowing opportunities are also growing rapidly.

Both the media and the acquaintances can hear much more about receiving credits and the opportunities offered by creditors.

The need for a loan also affects younger people

The need for a loan also affects younger people

Admittedly, the need for a loan also affects younger people. Young people’s lifestyles and needs are increasingly beginning to affect their parents’ wallets, but not so wealthy families have to be compensated in some other way. Some people are trying to satisfy their needs by borrowing consumer credit.

Consumer credit is a type of loan in which a bank or a non-bank lender issues a certain amount of money which has to be repaid with a predetermined interest rate within a specified time period. Consumer credit does not require a pledge or guarantor.

These consumer loans have become more popular

These consumer loans have become more popular

Latvia lately, as there are many creditors who issue them. Consumer credits are used for a wide range of needs – purchases, real estate, car repair or extraordinary expenses. Consumer credit can be executed in almost all commercial banks of Latvia and with several non-bank creditors.

 Only banks and one non-bank creditor are willing to issue consumer loans to people who have just reached the age of majority. Non-bank lenders are mostly also linked to quick lending, so the age limit of 20 and 21 is not uncommon. Banks are somewhat welcoming in this respect, but remember that there are always a number of conditions for obtaining credit. You need good credit history, no late payments or some kind of debt.

It would also be very good for the borrower to have an official job because his creditor can be sure of the customer’s regular income and solvency. We can conclude that consumer credit at the age of 18 is quite a possible event. Mostly there will be a need for cooperation with the bank, but it is definitely not a problem if you have a good credit history and a good income. It would also be very good for the borrower to have an official job because his creditor can be sure of the customer’s regular income and solvency.

We can conclude that consumer credit at the age of 18 is quite a possible event

We can conclude that consumer credit at the age of 18 is quite a possible event.

Mostly there will be a need for cooperation with the bank, but it is definitely not a problem if you have a good credit history and a good income. It would also be very good for the borrower to have an official job because his creditor can be sure of the customer’s regular income and solvency.

We can conclude that consumer credit at the age of 18 is quite a possible event. Mostly there will be a need for cooperation with the bank, but it is definitely not a problem if you have a good credit history and a good income.

Credit Criticism

With loans we face all the time and know the good side of these services, but today I will try to look at what criticism is associated with these loans and why credit could be a bad thing, as well as how these loans could badly affect both individual borrowers and the overall economy.

Simple financial experts believe

Simple financial experts believe

Many economists and simple financial experts believe that credit, both in individual and corporate terms, is a bad thing, and, for example, in Islamic culture, up to this day, interest-bearing credits are considered bad and are therefore banned. Credits can lead to different risks, but usually the greatest risk is that the monthly income of a person will decrease and therefore monthly loan payments will make up too much of the monthly budget and thus prevent a person from living a financially independent life.

And for those loans with too high a percentage of their issuers, or creditors, they are usually called fruit growers, thus indicating their evil intentions and people’s bruising. Usually, fertilization occurs when the creditor receives too much profit if it is compared to the risk that he assumes by lending that money to his debtor.

If we are still talking about housing and consumers

If we are still talking about housing and consumers

People usually borrow money with the idea that their earnings will remain at the same level as they are now or will increase and so when the income falls due to job losses, illness or other unexpected expenses, credit payments remain too high.

Such over-indebtedness has many and different bad effects for people starting with stress, getting new jobs, and aggravating relationships, because money problems are usually one of the biggest problems that cause couples to divorce and family members.

Common instability of your life and your future

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And, of course, such credits also cause uncertainty about yourself and the common instability of your life and your future. Credits are also blamed for various macroeconomic changes and even crises, because, for example, before the Great Depression in the 1930s, public as well as private loans had remained too large and people were simply no longer able to borrow extra money, which also led to economic shrinkage. increase in new credit costs.

And so, until all these loans were paid out, or at least a large part of them, economic growth could not continue. The overuse of credit is associated with various economic bubbles, such as the housing bubble in 2008 and the stock bubble in 2001. And looking at such criticism,

Travel Tips to Save Money | Credits

Are you one of the people who likes their friends’ travel photos on Facebook hoping that you could afford to go even to Stockholm or Tallinn? Have you made a New Year’s promise to travel more just to find that your cash reserves are actually not enough beyond your neighboring city?

This saves you money while traveling

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We listed  money-saving travel tips to help you go beyond planning and fulfill your New Year’s promise.

Also read about saving tips on AirBnB!

Find cheap flights on air comparison sites

Find cheap flights on air comparison sites

There are a variety of flight booking websites on the internet that you may want to use when booking your flights. It’s a good idea to compete for flights, as spending a little time comparing can save you considerable money in the final game.

Young or student? Take advantage of the offers of the air comparison sites on the web. For example, in its flight comparison, Good Credit offers an option to see discounted airfare for young people and students. Good Credit also has a handy +/- 3 day fare calendar which allows you to easily see if it is worthwhile to transfer flights within a few days at a cheaper rate. The following is an illustrative example:

It is also worthwhile for the student to take advantage of his / her status in financial matters as he / she will often easily remove his / her credit card.

Ready to go on a trip fast? If you are ready to embark on a trip with a fast schedule, you may also want to consider a sudden departure, such as Beach ball lists on its website. Often, sudden departments are a cheap option to go on a trip, but there is not so much choice

Use the Rome2Rio service

Airfares can be quite expensive these days, alternatives to flight can be found at Rome2Rio, for example, which shows alternative routes to flights such as train, bus and ship.

After all, flying is not always the cheapest way to travel within Europe, for example, so check out alternative modes!

Save on travel insurance

Save on travel insurance

By paying for your trip with a credit card that includes travel insurance, you can save money on travel insurance costs. Therefore, it’s a good idea to look at the benefits of your own credit card so you know if your credit card has this worthwhile benefit. For example, many airport credit cards include travel insurance if all or part of the trip is paid for with that credit card. This is the case, for example, with a Norwegian Bank card. On the other hand, some cards like POP Bank Visa Gold is valid for all trips, whether or not the card is paid for.

There may be large differences in the annual fees, interest rates and benefits of credit cards, so comparing them before making a purchasing decision. This will ensure that you get the credit card that is right for you.

Use night trains, buses or ferries wherever possible

By using a night train, for example, you can save on accommodation costs, as you can sleep on the train or bus instead of paying for a hostel or hotel night.

Often, for example, longer-distance trains also offer the option of buying a sleeping place, which may be a nicer, albeit slightly more expensive option.

Join the airline and travel agency newsletter

Airlines and travel agencies often announce their promotions and discounts in newsletters, so subscribing to them will ensure that you know them right away!

Get a credit card that accumulates points

Get a credit card that accumulates points

With a credit card that accumulates points, you can earn points for various purchases, which you can then use to book a hotel room or even upgrade your flight class.

Check the so-called. error flights

Sometimes the airlines get humble and flights can be accidentally made at ridiculously low prices. For example, subscribe to the Secret Flying or HolidayPirates newsletter to get the latest offers directly to your email.

Compare the different accommodation options

Compare the different accommodation options

Instead of staying at a hotel, consider renting an Airbnb apartment , couching, or hostel. Hostels can be compared and booked at Hostelworld, for example.

Did you know that AirBnb , for example, requires a credit card or debit card to process your accommodation, which can be handled like a credit card . A credit card is indeed a traveler’s friend – often needed for hotel or car rental, for example.

Find out “places to go”

Before traveling, read tips on travel blogs related to your destination, for example. With a little familiarity, you can find worthwhile tips and advice on where to go and what to do in the area.

Did you know that in almost every major city there are free guided tours, so be sure to know in advance where you need to be and at what time to avoid losing this worthwhile benefit. Many museums and attractions can also have free admission days. It’s a good idea to check if those days are right for your trip.

Find activities and promotions

You can find great deals on a variety of services, restaurants and activities at your resort from various promotional coupon services such as Groupon or CupoNation .

Sometimes it is better to use Uber instead of a taxi

Sometimes it is better to use Uber instead of a taxi

In many countries, it is more profitable to use Uber instead of a taxi. You can save a pretty amount by moving to Uber, for example, in the US instead of a taxi. And with Uber, you don’t have to worry about a tip or worry about taxi riders pulling tourists.

With a Uber account in 68 countries and over 100 cities, it may be a good idea to check if Uber is working in your holiday destination. Although you need an internet connection to use Uber, you can, for example, order a ride from the lobby of a hotel or uninhabited area, where free Wi-Fi is often available.

Use the best debit cards when traveling

When withdrawing money abroad, the bank usually charges a withdrawal fee. Before traveling, it is a good idea to find out the amount of the lifting fee to avoid any unpleasant surprises. It’s a good idea to use a credit and debit card when traveling, which will charge the lowest withdrawal fees. Read more in our article about how much cash withdrawal from a credit card costs abroad .

You can also take advantage of the Travel Currency Counter in the bathtub as you consider the cheapest way to raise your travel currency.

Save time and money when planning your trip

Save time and money when planning your trip

By taking advantage of the services available on the web to plan your trip, you can save a few gray hairs and money. If your dreams include, for example, parachuting abroad, a yoga retreat in Thailand, a year off, or an exchange abroad, it is important to plan the experience carefully and to look at its costs in advance.

Sometimes it can be a good idea to seek the help of a professional who will help you to plan your dream. At the same time, you will avoid bureaucracy and the extra paper war. For example, Good Credit offers free study counseling , where you get personalized service for a fee of € 50 – however, the cost of the course avoids, for example, the cost of taking a language test and possibly the official application fee of the University you are applying for.

Beat the machine taken on credit. What?

Borrowing a loan to buy a new or used car is a normal and common thing, because a lot of people choose not to save money for several years or to buy an older and model car, but to borrow a loan to buy a car they have always wanted. However, no one in their plans ever foresees anything with this machine.

Car is an object that is easily damaged

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Whether it is an accident or an accident, the car is an object that is easily damaged so many people also wonder what to do if something happened to the car you bought with the credit before you have paid off this credit. The situation when a car is damaged or something else happens before it is possible to repay the loan taken for its purchase is not pleasant and many do not know what to do right away.

The first thing you can do in such a situation is to simply pay off the remaining amount of the loan that is left as it is also the best and fairest action against the creditor and against you. You can, of course, protest that if the accident was not your fault, you would not have to repay the loan, but here you have to say right away that you chose to borrow a loan to buy a car.

Such action is risky in itself

Such action is risky in itself

Because you cannot predict what will happen in the future, and the car is an object that is relatively easy to damage, so you should also be responsible for your actions. However, if you do not have the money to pay the loan right away and forget about it, in such a case you should probably think about a new loan, which would allow you to pay for the existing loan and maybe you have enough money to pay the first installment.

For car purchase. However, if you are not satisfied with this option, be sure to contact your lender. He may have some advice for you to do in such a situation. Often creditors in such situations allow the remaining loan amount to be converted into a new loan, either to buy a new car or simply to have a much more favorable interest rate on that loan, as you no longer own the car you pay for. Of course, if the remaining amount of the loan is very large, perhaps even a new loan will not help much, the only way you would be able to buy a used car with which you could continue to move.

Another option is to simply place the damaged car in a safe place

Another option is to simply place the damaged car in a safe place

And continue to pay the credit as you would if you continued to drive the same car. But when the credit is finally repaid and the car comes into full ownership, you can, for example, scrap it, resulting in you recovering at least a small amount of the paid loan, and maybe you can even use that amount to buy a new car further.

Only in this case, be careful and really make sure you have a safe place to hold the car and where it will not be further damaged, so that you don’t pay off, but the car even has no value for scrap metal.

And the last option I can offer you in such a situation is to contact a lawyer specializing in bankruptcy matters, because it is possible that with the help of a lawyer you will be able to win that the creditor recognizes you as bankrupt and cancels you further credit, but contrary to the creditor to return the damaged car. If, however, the creditor does not subscribe to such a solution,

How to optimize a simulation of credit redemption? | Loan consolidation

Most websites dedicated to the redemption of credits, give you the opportunity to apply online for your simulation in redemption credits. By answering a few simple questions, you are guaranteed to be called back by an expert financial advisor in loan consolidation.

So, how best to manage this premise to all credit buyback record? And especially how to make the best choice among the many offers that professionals also known as the broker of repurchase of credit and a comparator site of repurchase of loans?

Securing data: an element not to be neglected

Securing data: an element not to be neglected

Before performing any online credit redemption simulation, it is imperative to verify the credibility of the service provider. Indeed, in view of the increasing number of frauds on the internet, it becomes essential to ensure that the personal information that must be indicated is not used for fraudulent purposes.

For this, the best solution is to consult the communication on the web of the credit redemption company by visiting its Facebook page for example.

How to make a simulation of redemption of credits?

How to make a simulation of redemption of credits?

Since the offer for credit buybacks is vast, it encourages creditors looking for a several requests online. This is not a good idea. By multiplying the applications online, the creditors may tangle the brushes.

Especially as the study with the broker buying credits requires time and attention. The more the expert loan restructuring expert will have the right elements, the better he can defend the case with his banking partners.

Although the online application form allows for contact over time, it is possible to complete a full credit surrender simulation only by taking physical contact with the broker.

How to choose the best intermediary in redemption of credits?

How to choose the best intermediary in redemption of credits?

First of all, it is interesting to consult the opinions of customers on the internet. These opinions are available on the forums dedicated to the topic of the purchase of credits. In addition, it is interesting to talk to his entourage for possible feedback.

Finally, be aware that the major brands of the purchase of credits, are not necessarily a guarantee of quality monitoring. The advantage of brokers in the purchase of local loans is above all the tailor-made follow-up of all customers to offer them a solution adapted to their needs.