Just another WordPress site Tue, 30 Apr 2019 02:47:05 +0000 en hourly 1 Payday Loan Consolidation – Pay off your existing loans Tue, 30 Apr 2019 02:47:05 +0000


Over the years, a household can quickly accumulate credit. The car is a car loan paid, the kitchen (eg with a kitchen credit ) will be financed through an installment loan and the room wall was a small loan paid. Monthly installments are charged for all purchases and in such cases, the question could quickly arise: is not everything easier and cheaper? If you, too, have asked yourself this question, then you should think about rescheduling.

What may sound odd at first may make your financial situation easier for you, and in the best case you can even save cash. Because with a Manucrediter rescheduling you bring your existing loans together and pay in the end only a new loan installment. Basically, you’re taking out a new loan that equals the amount of your current loan, paying off your existing loans in one fell swoop.

Wondering how to save money with a debt rescheduling loan?

Wondering how to save money with a debt rescheduling loan?

In our comparison, pay attention to the interest rate of the respective loan offer. Because, if this is cheaper than your current financing, then you save on interest month after month because you have lower interest costs with the new loan. If, for example, you have a credit line and this is often fully utilized, then you can convert it into a installment loan and benefit from the described interest rate advantage. A credit line usually has above-average interest rates.

In a survey by Stiftung Warentest in 2017, it emerged that on average customers had to pay a dispensation of 9.78% pa. You will already receive an online loan from Manucrediter significantly below 3.00% (credit rating required) to consolidate your loan. A credit line must also be repaid someday. At which interest rate you want to repay this, however, depends entirely on you.

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Flexible loan: how to renegotiate the repayment duration of the installments Sat, 20 Apr 2019 11:36:01 +0000

Skip an installment  with flexible loan

Skip an installment  with flexible loan

A flexible loan can allow the debtor to skip an installment or change the amount based on his needs. When a customer turns to his bank for a loan, he must be well aware of the financial commitment he will face. Of course, he will be able to satisfy his own needs with the sum received, but he will also have to reimburse it in a certain subsequent period, also considering the interests. For this reason, banks should be very transparent in the description of the amortization plan that awaits the client.

Flexible loans, along with other options such as early repayment or renegotiation, are a solution to deal with a change in our financial resources. By accepting a loan of this kind, in fact, we are aware of the opportunity to modify some of its characteristics, so that they become more sustainable. This is a proposal that many banks now offer to their customers, but which is particularly used by online financial companies, which tend to guarantee more flexible conditions on their loans.

The first possibility concerns the repayment terms of the installments. The most common solution among the various banking institutions, even those online, is to suspend an installment and delay payment at the end of the agreed repayment period. Concretely, this means that the customer can also request to suspend the payment of an installment, but will still have to pay it after having recognized all other payments for reimbursement to the bank.

Another flexible loan opportunity is to renegotiate the duration of the loan. This is one of the possible ways of renegotiating the loan: in this way, it is possible to extend the final repayment term. The logical consequence is that the same figure to be returned is spread over a longer period and therefore the individual installments will be less expensive. The flexible loan therefore makes it possible to face a difficult period, but lowering the installments to be paid.

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Loaning credits: features. How to have immediate liquidity Sat, 13 Apr 2019 12:18:21 +0000

Immediate liquidity

Immediate liquidity

Loaning receivables is a practice which consists in transforming receivables with future maturity into immediate liquidity. Anyone who intends to dispose of the receivables will have a number of methods available : the bill discount, the advance payment on bills and electronic bills Undy, the advance invoices and factoring.

The bill of exchange discount is one of the methods of disinvestment of the most used credits and it is had when a bank or a financial company acquires a credit from a company to its nominal value and they assume then the risk to recover it.

When we talk about advance sums on bills and electronic orders Undy we refer to the possibility of granting liquidity for the period between the sale and collection through Undy.

The advance invoices, on the other hand, occur when a bank or a financial company provides liquidity to a company relative to a sales invoice issued for the period between the date of issue and collection.

Factoring, on the other hand, occurs when a company assigns a block of credits to a bank for consideration. The bank will then have to manage and recover the credits and provide support to the company from a fiscal point of view.

Loaning credits is therefore an operation with which a company can sell loans to banks and credit institutions. From a theoretical point of view, all receivables paid to customers, receivables that come from deferred payments agreed and / or contracted and receivables in the portfolio already expired can be subject to credit disbursement.

The disposal of trade receivables can therefore be both an advance on a portfolio and a mere advance on invoices. Generally, banks and credit institutions offer these possibilities together with a credit line, so as to make transactions more fluid. The credit, for example, allows you to provide liquidity against the transfer of credit or advance on invoices and to pay lower charges compared to the classic credit lines.

Taking a concrete example of disinvesting credits, consider the advance bills of exchange. In this case, customers can present their bills of exchange to the bank to receive liquidity thanks to the acceptance of bills and the management of the collection. The banks may from time to time evaluate the applicable rate and terms based solely on the customer’s merit.

The discount is part of the so-called discount transactions on portfolios together with all those receivable disinvestment operations concerning the anticipation of a certain credit. In all these eventualities, companies will therefore be able to obtain liquidity and thus maintain an active cash.

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Calculation of Auto Financing – Simulation of Loan Installments Mon, 18 Mar 2019 12:05:24 +0000


 Calculation of the car loan

Calculation of the car loan

With the calculation of the car loan it is possible to establish the amount of the installments to be paid and the interest to be paid to the lender. Funding for the purchase of a vehicle can be of several types and their calculation also depends on their characteristics. A car can indeed be bought with a simple personal loan: it is a loan with no specific purpose, a traditional loan requested from the bank or a financial company.

When a personal loan is obtained, the use of the sum is free: the beneficiary can spend the money as he sees fit. Obviously, the purchase of a vehicle also appears among the most common uses. In this case, for the calculation you can turn to online counting tools, which propose solutions such as the calculation of the loan installment , requesting some simple information, such as the amount received on loan, the interest rate or the frequency of payments .

Consumer credit is a bit different: it is a form of financing designed specifically for the purchase of a good or service, such as the acquisition of a car (or other vehicle or motor vehicle, sometimes even boats). This formula is often offered directly by the car dealer: this can be a dealership, which relies on the financial services of a partner bank, or directly from the manufacturer, which in turn can choose whether to work with a bank or involve the branch financial management of the company.

In any case, these loans have some common characteristics, which simplify the calculation of the car payment : first of all, it is rare that these loans exceed a duration of 10 years. Furthermore, the interest rate is usually fixed and therefore does not change during the repayment period. Having this information, car financing can be compared more easily with one another, taking into account certain data, such as the amount received on loan and a higher or lower interest rate.

The calculation of the car loan is not so different from other calculation operations for other forms of loan, such as online loans, even considering some peculiar characteristics of this type of credit.

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The Suspension of the Loan for Serious Economic Difficulties Sat, 16 Mar 2019 12:15:06 +0000

Suspension of the loan

Suspension of the loan

The suspension of the loan is a measure that comes to the rescue of those who had to encounter temporary financial difficulties and could not repay some loan installments for the purchase of a property: usually, this practice is available however only for the purchase of the first home. Whoever takes out a loan knows that he must repay the loaned loan within the deadlines set by the contract. Precisely because it is a significant financial commitment, the banks require certain guarantees, while the current legislation provides for opportunities to renegotiate the loan, if the borrower is no longer able to meet the original commitments.

Unlike renegotiation, the suspension is better suited for those who are experiencing temporary difficulties. For consumers who find themselves in this complicated situation, there are two solutions available, one public and the other the result of an agreement with the ABI (Italian Banking Association).

The first possibility concerns the suspension of mortgages for the purchase of the first home thanks to the intervention of a public solidarity fund, introduced by law in 2008 and since then managed by Consap. This procedure allows the payment of installments to be suspended for a maximum period of 18 months, in the event of death or serious accident of the borrower, or for the loss of the job. If the user makes this request, the bank cannot impose any preliminary or commission fees, nor request additional guarantees.

However, there are some requirements to consider: this suspension is available only for loans up to € 250,000 and which have already exceeded 1 year of the amortization period. Furthermore, the applicant cannot have an ISEE greater than 30,000 euros.

The second option instead was introduced in 2015 and complements the provisions of the solidarity fund legislation: this means that this Fund is not intended to be used, but the cases in which suspension can be requested are different. Among these, there are the termination of the employment relationship for an indefinite period (but not in the case of voluntary resignation or retirement), the end of the temporary employment relationship, the parasubordinate employment relationships, or commercial representation or agency, or the suspension from work or the reduction of working hours without forms of support such as layoffs. The other important difference is that this suspension of the loan can last only 12 months.

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Renegotiate the fifth assignment and renew the loan Thu, 07 Mar 2019 13:02:38 +0000

Renew the loan – Refinancing loan

Renew the loan - Refinancing loan

Renegotiating the sale of the fifth means renewing the repayment terms of this financing method, which is very useful for employees and retirees (if interested, you can learn more about the fifth transfer rates). The loan with salary assignment in fact provides that the repayment of the installments of a loan can never exceed 20%, or one fifth, of the monthly amount of an employee salary or a pension. It is a form of credit accessible only by those categories, precisely employees and pensioners, who enjoy a fixed and easily certifiable income, through the pay slip or the pension slip.

Although this loan guarantees a certain stability, for example by providing for constant installments withheld directly from salary or pension, at a certain point the consumer may find himself in need of renegotiating or renewing the salary-backed one . According to the legislation currently in force, renegotiation is only possible if 40% of the installments provided for in the amortization plan have already been repaid. Therefore, if a loan is 5 years (ie 60 months), the renewal or renegotiation can be requested after 24 months, two years after the opening of the loan.

However, there are special cases to consider, which concern the total duration of the repayment period. If the loan lasts less than 60 months , the renegotiation is free, ie it can be requested at any time: however, the condition is imposed that the renewal includes a ten-year repayment plan, with 120 installments. If, on the other hand, the amortization was originally intended in just 10 years, the renegotiation will be possible only after having already paid at least 48 installments.

As we have seen, the renegotiation can concern the renewal of the loan and an extension of the amortization period: in this way, the amount of the single installment decreases . On the other hand, it is difficult to request changes that increase the amount of the installments, so that it exceeds 20% of the salary: first of all we need to evaluate well whether this decision is sustainable for our pockets, but it will still be the bank that poses difficulties, because it would be less compliance with the formula for calculating the installments at the base of the salary assignment.

Finally, it is necessary to remember the cases in which renegotiation of the fifth assignment is not possible: this happens when the user bears other deductions on the salary (such as foreclosures and payment proxies), which, added to the sale of the fifth, do not allow adequate accumulation of TFR.

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Loan Cancellation Calculation: French Interest and Penalties Fri, 22 Feb 2019 13:21:11 +0000

Calculation of the loan repayment 

Calculation of the loan repayment 

The calculation of the loan repayment reveals how much the customer will save by liquidating in advance the loan he has contracted with a bank. Those who have signed a loan have the freedom to extinguish it in advance, repaying the residual capital in a single payment, without paying the subsequent installments. This operation is regulated by the loan agreement, which determines the timing and methods. However, to know how to pay off a loan in the best way, it is advisable to calculate whether this choice will lead to real savings.

The main source of savings from early repayment of a loan is the possibility of not paying interest on installments still to be paid. A loan provides for the recognition of an interest rate to the bank, which distributes the payment on the repayment installments. Well, the calculation of the early repayment of a loan allows us to note how, once this decision is made, less interest will be paid than would have been incurred by bringing the loan to its natural maturity.

The question to ask is: how much do you really save? The answer depends on how the depreciation is calculated and the amount of the penalty that the bank will ask in exchange for early repayment. To make a profit, the penalty must be less than the interest saved. However, this may not even happen, if the method of calculating the loan is the French one, which concentrates the payment of interest in the first installments of the loan. It is probable that if the loan has lasted for quite a long time, the interests still to be recognized are few and the amount of the penalty exceeds its value.

The calculation of the repayment of the loan is different, in particular after the Bersani Law enters into force: this legislation provides that for mortgages signed after 2007, early termination is completely free, given that the banks are prohibited from request a penalty from their customers. In this case, therefore, as there is no possibility of a penalty, savings on interest could be more substantial. The early repayment of a loan for the purchase of a property is therefore potentially more advantageous than that of a normal loan, such as a personal loan. However, it must also be taken into account that the amount of a mortgage is much higher.

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