Do you live from paycheck to paycheck and can’t even save a crown? If you want to solve your financial problems with a loan, be very careful! Slipping into a debt spiral is easy. AHA! will advise you how to fly unnecessarily.
1. Get to know your options
Think about whether you can make payments not just now, but also in the coming months. Before signing up for someone, consider the amount of the monthly payment, any fees, and how much you actually overpay the loan. Do not forget that you have to live on something, pay rent and transport.
2. Place on the mark
Forget about street loans or free loans (allegedly). Every loan costs something and you have to count on it. If you do not want to take risks, borrow only from branded consumer credit providers.
3. Beware of conditions
Before signing, please read the agreement and the terms and conditions, which may not be part of it. You have the right to take the contract home and read it in peace, consult a friend for example.
4. Ask about sanctions
Find out what sanctions (fines) the contract contains if you are late in paying the loan . This is where the trap can be lurking – the fee is often higher than the installment itself!
5. Troubleshoot problems now
Don’t have the money to repay? Contact your creditor immediately and try to agree on a repayment or postponement. Definitely do not borrow to repay the debt. You would get into a debt spiral at the end of which is a bailiff.
6. Insist on your rights
The new Civil Code also regulates the area of contracting. It is no longer possible to lose a family house due to the unpaid several thousandth installment. In case of problems, please contact experts and consultancy. Beware of bills! Even these can no longer serve as collateral for a loan.
7. Defend yourself
Anyone can fly usurers. But when that happens, you have to defend yourself. Contact nonprofits that help for free. Make an appointment and bring the loan documents with you. Speak the truth, don’t embellish or exaggerate anything. Thanks to the new Civil Code, usurers no longer have such an easy job and you have a chance to succeed.
Hint: Do not borrow at all costs!
Does your bank or branded credit firm refuse to lend you? So take this as a warning and be sure not to contact small companies that promise you a loan without verifying your ability to repay . They usually only lend usurers and you end up in execution! By verifying the repayment option, credit companies protect not only themselves but also you.