Nowadays it is common to see people who sometimes need to get credits to realize their dreams, such as buying a car. However, it is also remarkable that there is a barrier in the thinking of this public, which prevents them from seeking information about the actual requirements and operation for obtaining credit. These thoughts may come about, perhaps, because these people have spent their lives hearing that getting credit is disadvantageous and that they may create risks, debt, and financial problems later. Criticism at http://www.barsugliafarms.com/100-online-payday-loans-direct-lenders-payday-companies-direct-lenders/
Thinking about this subject, we separated some points to be analyzed in order to demystify the obtaining of credit, in order to help the public that has interest and need in this modality. Keep up!
Types of Consumer Credit
When it comes to getting credit, the first point to consider is the type of credit to choose. In other words, the type of credit is defined according to the current needs and conditions of the person who wants to obtain it. Currently the best known are:
Credit modality for consumer goods, where there is no need to specify the purpose of use. Usually this type of credit is offered by banks to their account holders, serving self-employed, self-employed, salaried, taxi drivers, retirees and private. The credit limit is set according to the payment terms of each person.
This modality is intended for people who have fixed jobs, retirees, pensioners and civil servants and private companies. In this way, the loan installments are deducted from the payroll of the person or company. The advantage of this type of credit is the reduced rates, and the possibility of getting it even if the name is compromised by other debts. In any case, the installments of this type of credit should not exceed 30% of total income.
Credit for Financing
These loans are used for a specific purpose, ie the person who wants to opt for a loan is generally buying a physical asset, for example a property or a car.
This type of credit may be performed by both individuals and legal entities. In addition you need to note the types of financing that are:
Direct Consumer Credit (CDC): The buyer makes a loan at the bank and the property will be in his possession, but cannot be negotiated until all installments are paid.
Leasing: In this modality, who acquires the good is the leasing company (an institution that works with such services) that leases it to the consumer. Thus, the customer pays for the rent of the property, which is in the name of the company until the end of the benefits.
Consortium: In this mode, the client is part of a group formed by other consumers, organized by the responsible company. The customer in turn pays the installments monthly but only receives the good when it is drawn. (Once a month a person is drawn). Unlike the CDC and Leasing modalities, the consortium installments change over the months according to the appreciation of the acquired good.
How to get credit?
Now that we know the main types of credit, it is time to understand how institutions evaluate the profile of clients in order to approve or not credit for them. The main points evaluated are:
Income: Income is one of the main points to be evaluated as this is one of the factors to consider whether or not the customer can pay for the credit purchased. In most cases, institutions insure installments of up to 30% of the client’s total income so that there is no increased risk of default.
Age: Most institutions require a minimum age of 18 to release credit. For the maximum age there is no specific rule. Banks generally accept up to 79 years for payroll loans within 60 months, and up to 81 years for payroll loans within 24 months.
Employability: The employability requirement will depend on the type of credit you wish to acquire. For personal credit, proof of income is required only. For payroll loans there will also be this need if the customer does not fit the other cases.
Relationship with the Bank: Virtually all banks require the customer to be a banker at the institution for credit release. In addition, some other factors are evaluated such as: time of account, movement, possible debts with the bank, existence of investment, among others.
Outstanding Customer Name : Another factor that may or may not determine the release of credit to the customer is the possible backlog that the customer may have on your behalf. Thus, as previously informed, institutions may evaluate the client’s CPF and, if pending, may not release credit to the client.
History: As much as the customer fits in with all of the requested requirements, their consumer history can also be a determining factor in releasing the desired credit. Thus, some companies carry out a brief survey to find out if the customer has already had large debts or if he has already passed bad checks, for example.
Based on this information, you can understand how it works and what are the main requirements for getting credits. It is noteworthy that no matter how much you question, credits are still great ways to achieve the dream of a car, home or even get a debt.
In any case, it must be borne in mind that the search for credit must be done consciously and exclusively when the client has real conditions to pay the monthly installments. In this way it is possible to derive all the possible benefit that credit may provide.
Finally, it is recommended to carefully research the rates, terms and conditions, as well as the reputation of each institution in order to make the best choice.