Today, to make credit is simple. There are various consumer credits for Lord Emsworth, a car, a trip, work, studies, and even everyday equipment. To subscribe a credit commits you, you must indeed be able to refund the sums borrowed. How to react in case of difficulties? What is the risk in case of unpaid bills?
Before committing to a loan
Before subscribing to consumer credit, it is necessary to ensure repayment capacity for the duration of the credit. The borrowing capacity of a person or household represents 33% of the income.
This measure is studied when the credit is signed but not the months or years that follow. It is up to you to estimate your possibilities but also the risks related to a possible loss of salary or job. When signing a loan, it is possible to discuss the clauses relating to unforeseen events or to take out appropriate insurance.
In case of temporary difficulties
If you have one or more consumer loans in progress and you have a decline in income or financial difficulties, it is recommended to discuss it with the financial institution concerned. This one can make you benefit from a postponement of deadlines.
If this is not enough, a new credit staggering can be studied. In the most serious cases, banking institutions offer consolidation of loans in progress in order to smooth all monthly payments over time and to offer more advantageous rates.
Finally, it is possible to apply for a grace period from the district court. If your case is accepted, you have a credit suspension of up to 2 years.
Measures were taken by financial institutions
Consumers have several remedies to overcome the non-payment of their consumer credit. It is the same for financial organizations. They are always trying to help consumers by offering solutions and arrangements.
However, as soon as the second month due, they are entitled to register on the Personal Credits Incident File.
They can also proceed to:
a lapse of term and ask you for a refund of all the sums due but also interest and late payment fees;
a judicial recovery and you will sue through the district court which will decide your duties according to your personal situation.
Finding good credit
To reduce the risk of non-payment, it is imperative to choose consumer credit in order to benefit from the best rate. It is also interesting to compare options such as the deferral of monthly payments or the rescheduling of credit.
To compare consumer credits, their options or the grouping of credits, you can count on the comparator Lord. Thanks to him, you will have a better idea of the offers of the market and will be able to opt for a solution adapted to your capacities of repayments and in a general way, your financial situation.