Consumer credit from 18 years

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.

Felix Richards

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