Top consolidation loans -More about loan consolidation companies

The use of a consolidation loan is one of the most interesting and relatively simple forms of restructuring problematic debt. However, it is worth identifying in advance all the details related to debt consolidation at the household level. The consolidation loan has many advantages but also several significant disadvantages. By knowing all the consolidation properties, you’ll make the right decision when managing your debt. In the article, you will learn the advantages and disadvantages of a consolidation loan, as well as a thorough explanation of the concept of consolidation.

Find out more about loan consolidation companies

Loan consolidation is the combination of many loans into a single, consistent commitment most often in ConsolidationNow. Payday loan consolidation is necessary if you have many payday loans that are diverse in terms of costs and you are on the verge of exceeding the debt cost ratio in relation to your income.

Common Disadvantages Of Loan Consolidation

A consolidation loan makes a household dependent on a financial institution, on the offer of one lender. You must also be prepared to provide collateral, quite expensive. Real estate is the most popular practice of securing a consolidation loan agreement. A lower installment loan consolidation is a plus, but also an additional long-term cost. You always pay for a low-interest period for a low monthly installment. Thanks to this, the lender makes money on a risky client. Debt consolidation is unfortunately not for everyone and forces you to have solid collateral and relatively good creditworthiness. If you are unable to negotiate the optimal consolidation conditions on your own, be sure to contact independent consultants specialized in negotiations. Now in most loan agreements, consolidation collateral occurs. Just review the lender’s regulations to speed up formal procedures.

The most important advantages of debt consolidation

The most important advantages of debt consolidation

The key advantage of the consolidation loan is the repayment of the most expensive liabilities in exchange for a relatively low monthly installment. A consolidation loan is usually the best alternative to standard debt refinancing. When you extend the loan period, you always have lower monthly installments. Another plus of the consolidation loan is the protection of the household budget against the additional costs of transfers. With many loans, it’s easy to forget about installments. In addition, different repayment terms limit your freedom, e.g. after receiving a withdrawal. You need to watch your expenses almost all the time. Credit consolidation largely replaces consumer bankruptcy. You get a consolidation loan with extra cash to solve economic problems, and then you just pay a small installment, but probably for the rest of your life.

Summary of loan consolidation issues

If you are on the verge of a spiral of debt, you incur high costs of servicing long-term debt, you want to optimize your home budget, and at the same time obtain additional cash, not only to pay off your current obligations, consolidation is highly recommended. Loan consolidation is a lifebuoy for a household budget, and a small installment allows you to rebuild your solid earning capacity in a relatively short time, so if you want to avoid consolidation then visit cash loan comparison.

How to choose the best loan

Of course, without diminishing the role of other loan terms, most of us are primarily interested in the price of the loan. Therefore, in most cases, the cheapest loan will also be the best. However, how to select it from many offers available on the market?

How to choose the best loan

How to choose the best loan

Most of us, i.e. the bank’s customers, are unfortunately not specialists in the field of banking. What’s more, the structure, complexity and, above all, the length of loan agreements do not make things easier for us. Staying in the bank and talking to its representative additionally causes us a sense of helplessness and unnecessary stress. To avoid this and at the same time choose the best loan, we can use free loan comparison websites or go to a professional credit broker for help.

Credit comparison

Credit comparison

This option will work very well when you are applying for a small loan. Relax, at home and stress-free we can compare all the offers we find. However, how to choose the best loan? As a rule, you should follow one simple rule. Namely, the APRC should be kept in mind, i.e. the actual annual interest rate. The lower APRC is the lower the loan should be. We say it should, because it is only an ideal assumption and does not work 100%. To have a guarantee that we choose the best loan, it is worth seeking help from a professional credit broker.

A professional loan broker

A professional loan brokerA professional loan broker

It is a person who, like no other, will be able to help us choose the best loan. This is important primarily for loans amounting to large sums. Then even up to 0.5 percent cheaper loan is significant. What’s more, searching alone and not quite knowing things, we are not sure whether we choose from all the offers available to us. So what if we compare several of them, since later it may turn out that there were many other much cheaper options. With the help of a professional credit broker we can safely avoid such mistakes. If you have to pay back the loan over the next several years, it is worth consulting a specialist and choosing the best loan. A professional credit broker not only has the necessary knowledge about finance and credit products, but is also up to date with all products currently offered by individual banks. With his help, nothing will escape us and we will be able to enjoy the best credit.

Payday loan consolidation -Check out how to consolidate payday loans online

A favorable loan should be a clear goal for everyone. But not always people actually have the kind of loan that is currently the best. This is influenced not only by the overall disadvantage of the loan at the time it was applied for, but also by the development of the economy and interest rates. As a result, many loans currently appear to be quite disadvantageous.

Can they be favored? Definitely yes. There are two ways that are actively offered. The first is called refinancing and the second is called consolidation. What is the difference between them? When to choose? And what should the options bring? Look with us.

Check out how to consolidate payday loans online

The primary selection procedure is the same as for refinancing. You can choose from the offer of banks as well as from the offer of non-banking companies. Furthermore, the benefits related to interest, APRC, and the set repayment schedule cannot be neglected. In some ways, however, consolidation is different. The right thing is to be able to transfer to another provider all the loans you have that are disadvantageous. What should they be?

  • Special-purpose and non-purpose consumer loans
  • Overdrafts or revolving loans
  • Credit card debts

Need payday loan help? The right payday loan consolidation provider should be able to combine your payday loans.

How does refinancing and consolidation differ?

Many people are still unclear about this. Let’s look at the basic division of both options. This is the only way to know the right way to go. When it comes to refinancing, we are talking about shifting one single loan to another provider. The main goal is to reduce interest, but there may be a change in the repayment schedule. This option is suitable for those people who have only one loan, which is disadvantageous, and just want to give them an advantage.

Consolidation can do even more. It is aimed at those clients who have several disadvantageous loans that want to benefit. In practice, this is done in such a way that all obligations are combined into one, which is subsequently repaid to another provider. In addition to the reduced interest rate, this can also bring other benefits to clients, such as:

  • Reduction of administrative burden – monitoring of individual deadlines
  • Reduction of monthly installments
  • Reduction in total installments

How to choose the right refinancing?

How to choose the right refinancing?

Let’s go to specific tips, as this is the only way to ensure that the current loan will actually benefit from it. Both banks and non-banking companies will offer refinancing today. It is up to everyone what path they choose. Similarly to the classic loans, here also applies to non-banking companies awaiting simpler terms of transfer, and at the bank a lower interest rate. The advantage should be the main motivation. Where there is the lowest interest rate and the lowest APRC, ask about the possibility of refinancing.

The future payment schedule should also play a role. Primarily, the repayment should suit your budget, without undue constraints. It is also a good idea to choose a bank or non-banking company that will handle all administrative formalities for you. This is a plus that will be appreciated mainly by busy people.

Extra money may be an attraction

Both the refinancing and the consolidation will lead to the termination of the original loan product and a new loan. In connection with this, many providers offer clients the opportunity to get extra money. They can not only transfer the loan or loans, but also have the opportunity to get an extra amount. This will, of course, be added to the total volume of funds transferred and will bear the same rate as those transferred. Anyone who manages to pay their obligations and would like to have some extra money does not have to create a new credit product, but can simply get the required sum of money. How big it will depend on the specific creditworthiness of the client.

When to refinance or consolidate?

Many people often talk about refinancing a mortgage with clear terms. They are associated with the so-called fixation and the period when it ends. However, there is no fixation for ordinary loans of any type mentioned above. It follows that both refinancing and consolidation can be realized at any time. It is enough to find out that a competing bank or company offers more advantageous rates and it is already possible to request mergers and transfers. In addition, let us remind you that both do not have to be realized only once. Some loans are repaid over a number of years, during which time developments in the lending market may lead to further benefits. This can be used and thus can be favored several times. The main clue here is one single piece of information – it has to pay off.

What do I need to benefit from loans?

These are two important things. The first thing concerns all administration. If you ever took out a loan, it was linked to a number of documents that you signed and received. It should be in its own interest to keep this documentation. This is also because you will use it right now when you decide to consolidate or refinance. Your bank or non-bank company will want to deliver the documents to you. If you do not have them, there should be no problem getting copies directly from the original provider. This may take some time and may not be free.

It is also necessary not to be in delay. Although the exceptions are linked to the possibility of individual assessment, this is not recommended. Both because your loan transfer request may be rejected and your overall creditworthiness may deteriorate. It is strongly recommended that you settle your defaulted commitments before setting out on an expedition. Related to this is the fact that if you expect problems, it is good not to hesitate even a day. With a new provider, you can ensure a lower installment and the certainty of trouble-free payment.

These types of loans are no problem to merge

Bank consumer loans

They are a typical representative of the loan segment. Bank consumer loans are characterized by the fact that they can be provided in tens or hundreds of thousands of crowns. They can be both purpose-built and non-purpose-built. However, it must be said that for many, interest rates are so good that their consolidation may not always pay off. It is good to consider the future offer thoroughly and think about what it can bring. At the same time, it is necessary to say that there are also banks that still lend at a relatively high interest rate and it is clear that consolidation pays 100%.

Non-bank consumer loans

They are a clear competitor to the banking ones. If we are to look at their characteristics, in terms of the financial amounts offered, these are similar options. The same is true with regard to the possibility of using money, where we can talk about the purpose variant, as well as the non-purpose variant. The advantage of the non-banking segment is often the more benevolent acquisition conditions. On the other hand, there is no exception that it can be associated with relatively high interest. In this case, consolidation alone can really pay off.

P2P consumer loans

In theory, P2P consumer loans (loans from private individuals) can be categorized in the non-banking segment, as the main provider here is not the bank. On the other hand, the provider is not even a non-banking company. Everything works much more sophisticated. That is to say that a specific application for funding consists of ordinary people who invest their money in this way. In this segment, the most common talk is about non-purpose loans, usable for anything. While P2P loans often attract low interest rates, they are not always a reality. It may not be an exception that it is approaching twenty percent. Such a loan may already be advantageous to include among the consolidated ones.

Credit Cards

Do not confuse them with debit cards, as this option is directly linked to your bank account and your withdrawal options depend on your balances. In contrast, a credit card is a classic credit product where you start with zero and then draw to minus. Today, credit cards are quite popular as they can offer:

  • Interest-free period
  • Discounts and refunds related to purchases
  • Free management

But not everyone can make their credit card. If interest becomes charged, it is not pleasant. Credit cards generally belong to the group of the least favorable credit products. Therefore, their consolidation is also appropriate. In practice, not only are credit card debts paid, but also canceled. We speak plural, as a particular person may not have only one card, but may have more. Today they are issued by both banks and non-banking companies.

Credit card as a way to debt trap – what are its negatives?


It is a purely bank loan. An overdraft can be thought of as an authorized overdraft. By default it is not possible to drop below zero. However, in case of overdraft approval it is possible to draw so-called minus. And up to the amount that is approved in the form of overdraft. Those who do not smoke the commitment can get into a situation similar to that of a credit card. Here, too, there is a need to pay regular repayments, as well as very high interest rates, which are definitely not exceptional in overdraft loans. Here, too, we can say that consolidation can definitely pay off.


This is a relatively specific type of loan. It can be said that it is a combination of a special-purpose loan and a long-term lease. Leasing is most often used to finance a car. Most of the time this is a type of loan that is intended for businesses, but this does not necessarily mean that a private person could not obtain it. If its conditions are disadvantageous – that is, if the interest rate is high, it should be said that consolidation can also be a good choice here.

Only loans that are honestly and regularly repaid

You already know the main overview of what types of loans can be consolidated in banks and non-banking companies. Finally, we have to add one very important thing. And such that it is possible to consolidate only those loans for which you are not in default. It is the regularity of repayment of installments that is one of the main conditions for allowing consolidation. Different types of loans can be combined, as well as different numbers. However, it is not necessary to be in slip. As for the maximum amount of merged loans, everything is limited only by the particular provider. Exceptions need not be hundreds of thousands, even sums close to the threshold of one million crowns.

Savings insurance Savings with insurance?

Saving insurance may seem confusing in its name – is it now. No problem, because savings insurance is now clearing.

Savings insurance is ideal for long-term savings, but is not the only option for savings. Before signing contracts, it is a good idea to look at other options, such as savings accounts. You can compare savings accounts in our comprehensive savings account comparison.

What is Savings Insurance?

What is Savings Insurance?

The purpose of savings insurance is to accumulate savings for the future by negotiating an insurance contract with an insurance company. The insurance can be collected either by paying smaller amounts gradually, but generally larger lump sum payments are also possible. This long-term savings generates a sumptuous sum, which you get for your own use at the end of the insurance contract. If you save on insurance with only a small but large one-time payment, you can also talk about investment insurance.

Savings insurance is a life insurance contract which is concluded for a specified savings period, usually at least five years. The insurance covers death insurance, ie if the insured dies during the insurance, the insured will be paid a death sum. The beneficiary’s order is made in writing before the insurance becomes effective, and even overrides the will.

Unit-linked insurance

Unit-linked insurance

In unit-linked policies, the return on insurance is tied to investment activities. Investment targets are selected based on the policyholder’s risk tolerance and return willingness, as with other investment activities. However, savings insurance differs from traditional investments in that the policyholder does not directly own the investment, but the object of the insurance is the value of the investment.

Default rate insurance

Default rate insurance

Interest-based insurance can also be called interest-based or defined-benefit insurance. In this case, the return on insurance is tied to some kind of interest, which is usually lower. The interest rate may be, for example, Euribor or it may be determined by the performance of the insurance company. Particularly in interest-linked insurance savings, one should be careful that insurance costs do not increase above the interest rate.

Taxation of savings insurance


Savings insurance is often advertised because of the tax benefits they offer. However, the laws are changing and, for example, there will be no free contribution to inheritance tax from 2018 onwards. In the past, in the event of death, a close relative was able to receive inheritance tax of € 35,000 free, and a widow up to € 50,000. Savings insurance in the form of gifts is taxed at the rate of the gift tax.

Through savings insurance, active investors can swap investment items without tax on their appreciation or interest rates, as taxation is only provided when insurance savings are withdrawn. Occasionally, however, the insurance company may charge transaction fees for the change of portfolio.

Insurance costs

There are always certain costs involved in maintaining an insurance policy, whether or not savings insurance makes a profit. These costs may include, for example, percentages of insurance premiums, percentages of annual management fees for savings themselves, miscellaneous transaction fees, repurchase costs, which is, expenses for early retirement savings, and premium insurance for maintenance of death insurance.

Savings insurance should be as careful as a carrot, and contracts should not be signed until the terms have been carefully considered. All expenses must be taken into account when calculating the potential income from savings insurance.

Is Savings Insurance worthwhile?

Is Savings Insurance worthwhile?

Because of the costs involved in savings insurance, you should carefully consider whether to take out savings insurance. If you are interested in long-term savings, you may want to look at different forms of investing or savings or fixed-term accounts before making a decision.


Why Ferdies Financial does not need your Social Security Number when you apply for a loan

If you are not a U.S. resident UU., You know how difficult it can be to access capital to invest in your business. If you are also an undocumented immigrant without a Social Security Number, you also know that it can be almost impossible.

It doesn’t matter that you are a hardworking person and that you are only in this country to access a better life: even for non-permanent residents without a greencard (only with a work or student visa) it can be difficult to qualify for something as simple as a credit card. The situation is even worse for undocumented immigrants who do not have a visa and therefore do not have a Social Security Number.

If you find yourself in any of these situations, is there any way to obtain financing for your business?

money loan

Fortunately, it is entirely possible to obtain the capital you need to invest in your business, even if you do not have a legal status of legal immigration and do not have a valid Social Security Number.

Instead, some financial institutions will allow you to use an ITIN instead of your Social Security Number when applying for a commercial loan. While not all financial institutions will accept an ITIN instead of a Social Security Number for a commercial loan (especially larger financial institutions), community banks, smaller banks and local credit unions may be willing to do what.

The IRS issues ITIN ( Individual Taxpayer Identification Number or Individual Taxpayer Identification Number) numbers to those who are not eligible to obtain a valid Social Security Number, but who are required by law to file an individual income tax return. In other words, all foreign citizens, regardless of immigration status, and who must file federal taxes, can obtain an ITIN. Obtaining an ITIN will not change your immigration status, but will allow you to apply for loans that only require an ITIN to finance your business.

In fact, it is an obligation for all individuals in the United States to file their taxes, regardless of immigration status. Even undocumented immigrants have to file taxes by law if they are working and earning a salary in the US. UU.

Obtaining an ITIN is a fairly simple process. To get yours, you must:

  1. Fill out the W-7 form, available in English and Spanish .
  2. Present a document that proves your identity, such as a passport or driver’s license.
  3. You must also attach a complete federal tax return. This means that your ITIN and your tax return are processed simultaneously.
  4. Mail your request or take it to an IRS office or to a qualified agent for processing.
  5. In approximately six weeks, you will receive a letter from the IRS with your ITIN number.

For a step-by-step guide on the required documentation and how to submit your ITIN application, read here the 5 steps to complete an ITIN application .

Ferdies Financial is one of the few financial institutions that do not require a Social Security Number to grant a commercial loan, and instead accept an ITIN. Why? We know that a large part of our applicants belonging to the Latino community do not have Social Security Numbers due to their immigration status, but we do not believe that this is a sufficient reason to deny them the right to obtain financing for their businesses.
We have designed our commercial loans with that in mind and we finance applicants who can only submit their ITIN. In this way we fulfill our mission of helping the Latino business community.

In Ferdies Financial we are faithful to our motto: “We do not close the doors to any business”.

money cash

  While there are other lenders that are beginning to accept the use of an ITIN instead of an SSN, such as Aura and Oportun , that offer personal loans, business loan opportunities remain scarce to date. This is especially true with the largest financial institutions.

Initially, the sole purpose of the ITINs was to facilitate non-US residents. The presentation of federal taxes, but this number is gradually becoming an alternative to the Social Security Number in terms of also facilitating access to capital for their companies. More and more financial institutions and nonprofit lenders are expanding their offer to accept an ITIN instead of an SSN. But keep in mind that an ITIN does not change your legal status; It only serves as a replacement for an SSN in certain cases if you cannot obtain the latter.

Ferdies Financial supports the community of immigrant business owners in the US. UU., And take initiatives that support this mission. In addition to accepting applicants with only one ITIN, our business loan specialists are bilingual, we provide educational resources in English and Spanish, and we provide our Latino members with continuing education to improve their financial performance in the US. UU. and grow your business.

Why Ferdies Financial is your best option

money cash

Ferdies Financial is your best commercial loan option for a variety of reasons that go beyond the fact that we accept ITIN instead of Social Security Number:

  • Our application and financing processes are faster and more convenient than with traditional banks, and you can receive your funds directly into your bank account in a period of between 2 and 10 days .
  • In Ferdies Financial we offer you a personalized customer service, and we make sure to find the best financial solution that meets your specific needs.
  • Throughout the loan application process, we will make sure that you know and understand all the details of the commercial loan you are taking and that you feel comfortable with your monthly payments.
  • Our loan specialists understand the unique challenges of being an immigrant entrepreneur in the US. UU. We do not believe that your legal status should be an obstacle on your path to success.
  • Ferdies Financial does not require you to have a credit history, because we understand that a large part of our applicants have not been in the United States long enough to build a substantial credit history.
  • We do not require you to provide a guarantee when you apply for a commercial loan, so you will not put your personal assets or those of your business at risk.
  • In short, we have fewer requirements than most lenders.
  • Our members also have exclusive access to webinars and receive discounts on selected commercial products.

In Ferdies Financial we make an additional effort for our members. All this implies an added value that you will not find in any other commercial lender, especially if you are an immigrant in the USA. UU.

Apply for a commercial loan with Ferdies Financial, and start making your dreams come true, without letting the lack of a Social Security Number stop you.

Mortgage – Is It Worth It?

It is a dilemma that accompanies us in the most important moment of our lives. Obviously, the greater the dilemma, the greater the reliance of the banks on the purchase of a home.

There is no doubt that the state of the economy influences decision making, because if until very recently buying with the use of credit housing was not so advantageous the truth is that in the days that run and despite the spreads practiced, buy housing using the housing credit can be more advantageous.

Should We Choose to Buy a Home?

Should We Choose to Buy a Home?

Each case is a case and it is not enough to make the calculations taking into account historical inflation data (in the case of rents) or euribor (in the case of recourse to credit) because the uncertainty in the markets exists as we witness daily. The rental market is also experiencing moments of euphoria, with landlords living on the best days to rent, that is, the demand is immense (since rates of the best term deposits are close to zero) and incomes rise almost exponentially taking advantage of the lack of supply, especially in urban areas.

It seems clear to us that whenever rent is higher than housing, it is preferable to opt for housing purchase, but there are also reasons to opt for renting, such as uncertainty about the crisis. Buying, mathematically, is more advantageous than renting, when the benefit is lower than the rent and because in the future there may be potential for capital gains, but it may not be the case if the market responds negatively.

Is It Worth It to Make a Mortgage?

Is It Worth It to Make a Mortgage?

It is the most difficult decisions to make, especially for young people who decide to take a course in their lives. The price of the houses despite having been recovering still has room to recover low and housing credit is now a new breath with banks re-opening the faucet (to see what your spread would suggest we use a housing credit simulator ). But we should not restrict ourselves to these scenarios, we must clearly analyze each item of our personal, family and professional lives and the environment in which we enter, such as:

  1. Economic Financial Situation in which we live;
  2. Personal, Family and Professional Situation that we have;
  3. Crisis and uncertainty;
  4. Banks and their management model
  5. Financial Situation in which We Live

Instability is bound to remain, for at least the next two years, pushing for a restructuring of the market and governance models. The euribor has already given signs that will increase in the coming times and the spreads practiced by the banks raise worrisome values ​​for the maintenance of the family budget. It is clear this economic climate and only does not see it who does not intend to assume that even more difficult times are about to arrive.

Buying a home today using 30-year credit for the amount of 125,000 euros has a monthly installment of around 600 euros which, when checking the euribor increase by 2 percentage points, pushes this value to more than 700 euros per month, insurance premiums and any charges.

You will be prepared to withstand such an increase

You will be prepared to withstand such an increase

How did you prepare for hard times? Did you make an emergency fund? Have you created an effective Family Budget? If you are not prepared then the use of the lease is the best solution because you will not have concerns about the development of the market and the only changes you will feel will be updating the rent on an annual basis and the possibility of eviction of the landlord at any time.

Another advantage is still in case of unwanted event you can always look for a lease more into account and organize your personal finances to the new reality.

Characteristics of fast loans without payroll

When we talk about loans without payroll I have to start talking about what is meant by this type of financial product .

It is an unavoidable step because non-payroll loans can create a lot of confusion. Many people think that such a loan is a loan that anyone can access, with very light conditions and poor payment guarantees. And the reality is that this is not so.

What is a loan without payroll?



A loan without payroll is a credit, in which, as the name of the product indicates, you will not be asked to have a payroll so that they can grant you the loan. That is, a payroll by the loan applicant is not necessary as a guarantee of the operation.

However, all loans, even those that are referred to as payroll loans, will require you, as a requirement to be granted, to have monthly recurring income, whether or not they are a payroll.

Therefore, be very clear that if you want to access financing you will need to prove that you have income, either a payroll or another type, but you can forget about getting the credit you request.

Now that you know what a non-payroll loan is, I will analyze them with a little more depth so that you know them better and decide, if you are looking for financing, if it is a financial product that covers your needs or not.

Loan without payroll. Another name for Quick Loans



In reality, payroll loans work as if they were fast loans or credits .

These fast loans are characterized by offering not very high amounts of financing , around € 3,000 maximum. There is even a type of fast credits, such as mini-credits, which do not usually exceed € 500.

In addition, these quick loans are a product that is requested to be returned also in a few months or even, in the case of mini-credits, in days.

Traditional fast loans have a classic repayment system , based on the application of certain interests on the requested amount.

Although there are variations for mini-credits, to which due to their low amount and few days of return a fixed fee of money is applied on the requested amount and the agreed time period .

In the latter type of credits, if the return time is exceeded, a penalty for late payment is quite high.

It is essential that before requesting a fast credit you are sure that you can return the money in the agreed term, because the penalties and commissions for late payment are very high, multiplying in a short time the total amount of money that you must return and being able to get into important financial problems.

An example of fast loan without payroll

An example of fast loan without payroll


As you can better understand how it works and not have any doubts about this type of financial products, you can see an example of a quick loan without payroll. I am going to present an example with a mini-loan, which may be the type of credit you should know the most for having the highest penalties for late payment.

A quick loan without a usual payroll would be a loan for a financing of € 300, with a monthly payment of € 15 and repaid in 30 days.

You can find different conditions depending on various factors:

  • Of the money you finally request.
  • From the company that issues the credit.
  • Whether or not it is your first credit in that entity.

In addition to these conditions, they will also ask you to meet a series of requirements, these two being the most important and usual:

  • Demonstrable recurring income.
  • Not be registered in debt delinquency records.

In any case, there are credit institutions that make exceptions and with a maximum amount of money requested and even if you are in a delinquent registry they can grant you the credit you have requested. This happens when the amount of money you ask for is very small, never exceeding € 1,000 .

And of course, these credit institutions that grant such loans with so few requirements and conditions are never traditional banks.

Also do not forget if you are thinking of asking for a loan of this type that the interest rates or the monthly fee you are going to pay is very high. It is quite likely that you end up returning between 3 and 4 times more than the amount you requested .

How can you hire a loan without payroll

Hiring a loan without a payroll is a fairly quick process since not much documentation is necessary and everything can be sent by email, thus expediting the hiring process.

What documentation are you asked to take out a loan without payroll? Normally these documents are personal:

  • ID or residence card.
  • Justification of recurring income. It can be a payroll if you work for someone else or proof of social security payment if you are self-employed.

And basic banking documentation:

  • A document where the account number is indicated where the money is going to be entered and from where the payments are going to be made for its return.

Once the credit institution verifies that the documentation is correct, it accepts or denies the credit. This does not take more than an hour from the receipt of all the necessary documentation.

If your credit application is approved, you will receive the money in your account in one day and even in a few hours, if the account you indicated at the time of hiring is in the same bank of the money source account, since a transfer of money would be made and within the accounts of the same bank it is immediate.

In addition, to speed up this process, all credit institutions that offer these loans without payroll operate using the Internet, so hiring a loan through their website is much more convenient and faster than otherwise.

Sometimes, to solve doubts or expedite some processes you also have the option of a telephone service , although it is not usually necessary.

In any case, the entire process, that is, request, hiring, acceptance or denial of the operation and receipt of money is always much faster than applying for a loan in a traditional bank.

Is it advisable to take out a loan without payroll?

Is it advisable to take out a loan without payroll?


One aspect that you have to have from the beginning is that all financial products are recommended or not, depending on the use you give them and whether or not they cover your financial needs .

Therefore the answer is yes, they are recommended … as long as you use it well and cover your financial needs.

And what is a good use of a loan without payroll? Well, use it to cover a specific unforeseen expense that you cannot pay otherwise. Not to go on vacation, buy a car or motorcycle or buy an smartphone.

And of course you cannot make continued use of this type of products, that’s why the “PUNCTUAL unforeseen expense”. If unforeseen expenses start to be habitual you will have to analyze your expenses, cut those that are not essential and start saving and create an emergency fund.

So do not think of using these products happily because they are very expensive, only surpassed by credit cards.

If you hire loans without payroll frequently in a short time you will be drowned by debts and with few options to get out of them.


Finally, and as a summary, I will briefly comment on the main advantages and disadvantages of a loan without payroll.

The advantages of a fast loan without payroll are:

  • Simpler conditions and requirements for hiring.
  • You receive the money very quickly.
  • Hiring is very easy, using the internet.

And the disadvantages:

  • Expensive financial product.
  • Only to request small quantities.
  • In case of default, very high penalties.

I hope I helped you to know more about these types of financial products. As always, if you have any questions or problems you have the comments at your disposal.

Misconceptions About Credit Cards

Credit cards have been a common form of payment for a long time, but some consumers still have skepticism about credit cards, mainly due to fear of indebtedness.


Did you think you know credit cards?


There are usually two reasons for this: either you know someone who has a lot of credit card debt, or you don’t know how credit cards work.

Here are 10 common misconceptions about credit cards:

1. Credit card means more debt

1. Credit card means more debt

The credit card is not meant to live in debt. If you pay the invoice in full by the due date, you will not have to pay interest on the credit. If you do not pay off your entire credit card debt but only part of it, you will have to pay interest on your credit until you pay the balance.

If you are afraid of over-indebtedness, you can set a credit and usage limit for the card according to your income so that you do not overuse your credit card.

2. Choosing a credit card is difficult

If you do not know which card will work best for you, you can compare different card options and choose the one that best suits your credit card. If you travel a lot, you might want to get a credit card. On the other hand, if you want to focus your purchase on a particular store, consider a store earning a bonus card.

In our comparison it is easy to compare different cards. You’ll also see all card costs and search criteria:

3. The credit card interest rate is too high, so you should not use the credit

3. The credit card interest rate is too high, so you should not use the credit

Credit cards have an average 30-day non-interest payment period. As mentioned earlier, if you pay the invoice in full by the due date, you will not have to pay interest on the credit. Payment cards (such as American Express and Diners Club) must always pay off the invoice in full each month, so there is no interest.

4. Credit card debt is common

There are three typical reasons for indebtedness:

  • Forgetting credit card bill payment
  • Exceeding credit line
  • Don’t keep up or follow your own spending

If you use the card carefully, keep track of your own expenses, and remember to pay off your bill by the due date, you won’t have to worry about getting in debt.

5. Paying the invoice by the due date is easy to forget

5. Paying the invoice by the due date is easy to forget

Almost all banks can easily and conveniently pay for your credit card bill through online banking and track your card spending. For example, you can schedule a payment to your credit account in advance if you are afraid of forgetting to pay the invoice by the due date.

6. A debit card is a better and more secure option than a credit card

Vice versa. Paying with a credit card has more advantages than paying with a credit card, in addition to the non-interest payment period. Credit cards often include Payment Security and Product Security, which compensates for losses in the event of misuse or, for example, the purchase of a defective product. Bankcards, on the other hand, do not include these benefits.

Credit cards also offer bonuses such as points that credit cards do not. For example, with a St1 credit card, you get a payment benefit of 0.5% for each purchase, and a payment benefit of 2% for St1 and Shell stations.

7. If I get a credit card, I need to open a new bank account for the card

7. If I get a credit card, I need to open a new bank account for the card

This is not always a requirement. Some payment and credit card issuers offer cards without opening a bank account, and you can pay your credit card bill from your current bank account. For example, Diners Club and American Express are payment cards that do not require you to open a new bank account.

Cards have an average 30-day non-interest payment period and you can pay the invoice directly from your account.

8. Credit Cards Have a Lot of Hidden Costs

When applying for a credit card, you should be aware of the terms and charges associated with the card. Carefully read the small print of the agreement and find out any additional charges (such as annual fees or monthly account fees).

In our credit card comparison, you can easily compare the annual fees of different cards with other charges and benefits.

9. Credit Card Scams Are Common

If you are careful with the use of your card and keep your card and key figures safe, the risk of credit card fraud is extremely low. However, if you notice an abuse on your card, contact your bank / credit card provider immediately and report it.

Your credit card company or bank can block the card and possibly refund you if fraud is discovered. With a debit card, things are not that easy.

10. I’m afraid I’ll use too much credit if I get a credit card

10. I

This is completely up to you. If you are afraid of using your credit card too much, you can choose a lower credit line, for example, which is less than your income. You can also leave your credit card between them, as you don’t always have to carry it with you.

In some situations, such as traveling abroad, a credit card is particularly useful!

How to start a business without a commercial loan


Are you planning to become an entrepreneur ? Wondering how to start a business? Buying an existing company could be a better option than starting from scratch. This guarantees you to have a company that is already established and that has existed for some time. But of course, you must have the basic knowledge on how to start a business, and especially on how to buy it.


First things first: how can you get the money to start a business and buy it?

money loan

Obviously, it is crucial not to pay too much for the business you want to acquire. If you pay more, the consequence will be a low return on your investment and you may get a lower profit than you had anticipated.

And of course there is the question of where to get the money to pay the purchase price.

If you have enough own funds, this is not a problem. But most entrepreneurs should seek external financing. You can partner with someone else or choose to sell shares to your employees. You can also take the traditional route of requesting a loan from a bank.

However, getting the necessary funds usually involves several problems. Borrowing money may involve providing guarantees or guarantees. If you participate in a society so you don’t have to put all the money yourself, you may have to give up part of your business control.

What if you could buy a business without paying the full purchase price to the seller immediately?

This is how many entrepreneurs get to buy an existing business. They pay a portion of the price at the beginning, and the remaining amount is paid through the so-called “seller financing”.


What is seller financing?

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If getting a loan is a problem and you are wondering how to buy a business that you have already identified, seller financing might be the answer you are looking for. As the name implies, it is a way to pay for the business to the previous seller or owner doing it in installments.

But why should the seller be willing to help you with the purchase process through financing? These are some reasons:

  • The financing helps to close the deal: the transaction could be delayed or you could even cancel it completely because you cannot raise the money. In such a situation, the seller could go to the rescue by putting between 10% and 60% of the total price. In some cases, this percentage could even reach 90%.
  • Financing helps establish trust between the buyer and the seller: if the seller is willing to accept payment for a prolonged period, the buyer’s confidence in the transaction is likely to increase, motivating him to buy. The repayment term could be up to ten years.
  • Financing can be beneficial for the seller : although there is a certain degree of risk to him in extending this type of financing, there are some guarantees available. For example, the seller could insist on performing a credit check before accepting financing. It may also require the buyer to present a guarantee or guarantee.
  • The financing provides a constant cash inflow : the reimbursement received by the original business owner could include interest. This provides an extra income that could last for several years.


Example of seller financing

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Harold Ludwick works in a car repair shop. He has been employed there for 20 years. The business owner, Dominic Jordan, plans to retire in six months.

Harold believes he can run the business and expresses his desire to buy it. The only problem is that he doesn’t have enough money. Dominic asks for $ 180,000, but all Harold can contribute is $ 25,000.

After a long conversation, they agree on the following terms:

  • Harold will pay $ 25,000 immediately and the remaining $ 155,000 over the next ten years, along with an interest of 5.5% per year.
  • Dominic will be available to provide advice when necessary.
  • After purchasing the business, Harold will begin the process of applying for an SBA loan . If your application is approved, you will use that money to pay Harold.


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Who is involved in the seller’s financing process?

money bank

When you start a business, it is crucial that you get professional help.

Several people can provide you with valuable advice on how to start a business and how to buy it.

  • Business Broker: Buying a company can be a complicated process and involves compliance with several rules and regulations. The advice of a business broker on virtually all matters related to how to start a business and buy it can be very useful. One caveat: business brokers generally represent the seller, who pays you a commission. Consequently, the main responsibility of the broker is with the seller. You should keep this in mind when interacting with the broker.
  • Accountant: it is crucial to analyze the accounting books of the business you are going to buy. It is absolutely necessary to get an accountant with experience in this field. This person can inform you about the condition of the company’s financial statements.
  • Lawyer: Having a competent lawyer on your side is another basic requirement. You will receive advice on the legal aspects of how to start a business and buy it. In addition, your lawyer will review all the documents that must be signed during the acquisition process.

The business agent (who represents the seller), your accountant and your lawyer will help you decide if the company you are planning to buy really costs the stated sale price. At this stage, you will have to start the paperwork that is required to close the deal.


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Legal documentation for a seller financing transaction

Here is a brief description of the various documents you may need to carry out the purchase of the business:

  • Letter of interest: normally done at the initial stage. It establishes the framework of the process to be followed so that due negotiations are carried out diligently.
  • Agreement of agreement: it is a confidential document that details the terms of the transaction. The buyer and the seller can make changes in which they mutually agree.
  • I will pay: set the terms and conditions for financing the seller. The amount that the buyer needs to reimburse and the reimbursement dates are mentioned in this document.
  • Security agreement : the seller’s financing agreement may require you to present a guarantee or guarantee. This document describes the procedure to follow in case of non-payment.

When you address the issue of how to start a business and buy it, you should pay close attention to legal documentation. A lawyer specialized in this area can be of great help. Try to find it as soon as possible. However, if for some reason you do not, take the following precaution: do not sign any document provided by the seller without first checking your lawyer. Also, do not communicate in writing with the seller without taking the same precaution.


Benefits of seller financing

Benefits of seller financing

If you want to know how to start a business but you don’t have enough money to buy it, seller financing may be the ideal solution. Of course, you should probably put a substantial part of the cost of your pocket business; The seller would finance a portion of the total cost.

Once you have bought the business, you should focus on managing it successfully. You may need additional funds to make purchases and make investments, as well as for marketing activities or to make reforms and improvements.

How do you plan to get that money? An excellent option is to apply for a commercial loan to Ferdies Financial. You can process an application as soon as you take nine months with your new business.

Submitting your application will only take a few minutes and will not affect your credit score. The money you get with a loan from Ferdies Financial could provide you with the funds you need to make your new business successful.

Buyback credit notice consumer and borrower | Loan consolidation

Numerous questions are discussed every day on credit redemption forums on different aspects of this banking product with restructuring characteristics.

The questions asked by French consumers are, for example: “Can we buy back a loan buyback? “Or” What is the response time for the instruction of a repurchase of credits? “But also” My credit redemption file refused what solution? “, And so on.

Can I make a credit redemption on a credit redemption?

Can I make a credit redemption on a credit redemption?

Can we buy back a loan buyback? The answer is yes, it is perfectly correct and acceptable to want to renegotiate its interest rate to reduce the total cost of borrowed money for example. Or as a result of subscriptions to new credit agreements in order to reduce its debt ratio has become excessive.

However, the applicant must present through the reading of his file no financial incident and no excessive consumption behavior.

Credit redemption delay concept

Credit redemption delay concept

It can be stated that the waiting time for a credit redemption is three to four weeks, however, the response time may vary depending on the characteristics of the client file(s).

The first point is the type of editing to be performed, for example for a buyback of unsecured loans the time is relatively shorter than for a purchase of credits with guarantee that requires the establishment of an appointment at the notary for the signature of the act, and thus be able to unlock the funds.

Credit redemption refused: what solution?

Credit redemption refused: what solution?

The best solution in case of request rejected by one or more banking institutions, it is first necessary to approach a professional as for example an intermediary in banking operation, also known as the broker.

The latter will analyze your situation and tell you what can be done to restore the situation as quickly as possible. If there are still banks that have not been solicited, your broker will do this to try to obtain the desired loan consolidation.

Generally, the time to be able to represent a file at a bank is 3 to 6 months depending on the lender and its receivability standards.