Consumer credit: how to get and return it competently.

Our life is so unpredictable that sometimes there may be a need for consumer loan. The popularity of this financial product is that it does not have a targeted purpose, and the amount of the loan can reach large sizes. What is worth paying attention to the design of a consumer loan?

The bank is interested in receiving profits, which is why the staff of the organization propose to issue a borrower more than he requested. It is not necessary to succumb to temptation, often the remaining funds do not find their use and spend on spontaneous purchases. The bank gives you the amount not just so, and at percent, think about returning to return more.

Determine for yourself the amount that you could spend monthly to repay the debt. Do not resort to maximum indicators, there may be different situations that are accompanied by additional expenses. You can always make funds ahead of time, and reduce overpays.

Currently, insurance companies offer an extensive list of insurance policies that are directed to different purposes. Use the insurance service or not to solve you. On the one hand, this is an additional burden on the budget, as insurance is not free. On the other hand, she can protect you from loss of work or health problems.

In accordance with statistical data, citizens resort to insurance when issuing credit obligations for more than a year.

By the way about returning funds in case of failure to insurance. After submitting an application, the insurance organization decides, and within a certain period, returns funds to the details that you indicated in the application. Here, the main thing is not to succumb to the temptation, which we talked about in the first paragraph. Cash will be on the map in free access, which means that they can be spent anything. It is necessary to send them into the smaller time to partial early repayment, as they have already been included on credit, and you also pay interest on them.

There is no need to go to the first bank, it is better to analyze the current proposals of several banks at once. If you get wages on the card, then the first thing is to go to the salary bank. As a rule, this will allow you not only to save time, since the lender already has all the necessary information on your solvency, and you do not need to spend time collecting certificates, but can also turn into a favorable offer for you.

If you already have a valid consumer loan, then the question may arise: and how to give it? There are several ways that are suitable for different life situations.

This is the most common situation when the borrower issues a loan, and monthly contributes to the established amount of payment until the end of the loan agreement.

If you have issued a consumer loan, and at some point realized that it is difficult for you to pay it or cash on its repayment and not at all — it is necessary to contact the bank to solve the problem.

You can restructure your loan. Restructuring also implies a change in lending conditions. Only for the service, you need to provide a bulk paper package to the bank, which confirms your insolvency. For example, it may be a certificate of reduction.

In this case, you need, as we said earlier, use the service of partial early repayment or early repayment, what is the difference?

Partial early repayment is used in the case when the borrower can make an amount more than a monthly payment, but not to pay off the loan in full. Early repayment is a complete one-time closure of credit commitments to the bank.

If everything is immediately clear with early repayment, then consider partial redemption.

When making an application for partial early repayment, the bank will ask you: what to do next with a loan?

You can choose one of the two bases is to reduce the monthly payment or credit period.

If you are aimed at getting the benefit from the transaction, then you need to choose a decline in lending. In this case, your monthly payment will remain non-mean, and the term will decrease depending on the amount.

But if you choose a reduction in the monthly payment, then your term will remain the same and overpayment on the loan too.

There is also a different situation when you are ready to regularly make an amount that is more than a monthly payment. Then the option option does not matter, since in both cases the payment amount will be the same.

Observing the above tips, you will not only be a decent borrower in front of the bank, but also be able to get some benefit from the loan.