Many people are certainly interesting if they can get a loan, even a very small income. Curiosity is justified by the wrong vision about the study creditworthiness. If someone earns little, yes, it can get a loan. The next time it rains the myth that size matters. Banks, examining the creditworthiness of the customer, do not take into account only the income, but the income of the spouse and children, the size of the real estate properties and the amount of life insurance – the bank is important everything that may help in case of difficulties with the repayment obligations.
They not without significance are the guarantors of the loan – they bear the same responsibility for the loan, as the same borrower. In the event of default by the client, the bank directs his steps first signed on to the agreement of the guarantor or guarantors – depending on the provisions contained in the agreement. If this does not bring the expected results, the bank will begin to consider other methods of execution of the amount due, including the seizure of assets of the debtor or guarantor. The amount that the bank decides to raise is specified in the contract, in the form of annual interest or the full amount – then we are talking about the total cost of the loan.
You have to admit, however, that these are quite specific situations, where the incidence is relatively low. The Bank does not grant a big loan to a person who will not be able to repay. Banks, contrary to appearances, they do not charge too much risk, because every stroke of the responsibilities associated intricate legal transactions, the cost of which the bank must also pay. Then pulls this amount from enforced, for example, real estate, putting it up for auction.
The loan is very easy to take, the worse it is, when it comes time for repayment, so the decision to take out a consumer credit can not be reckless decision. This principle applies to any financing decision, which may have an impact on the decline in the quality of life and entails responsibility. Let this in mind signing any contract.
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