Monthly Archives: August 2019

Tips to Get You Through the Week Before Payday

The best tips to get you through the week before payday

Below are tips to get you through the week before payday. So according to www.paydaynow.net, there are ways to manage money and they get you through the week before payday. Some of these tips will show you how to do your taxes and your budget so that you can make the most of each dime.

Make a list of all the bills you owe and how much each bill is

Write the amount down on a piece of paper so you can see where you stand. If there are a lot of late or overdue payments on one bill, it’s better to pay the bill immediately.

With a shortlist of all the bills you owe, take out a debit card from your checking account and make a deposit with each account. Only deposit money you will use for that bill. Don’t put it in your checking account to pay off other bills that are due at the same time.

Write down the check number and the payment terms on each check you receive

This way, you will have an idea of how much each bill is going to cost. When you go to the bank, look up the payment terms so you will know exactly how much you need to pay.

For those bills that are due on or before your next paycheck, you can pay them off when you get your next paycheck. However, if you must take care of the outstanding bills before your next paycheck, make sure to sign a receipt. You may want to also send the bank a written reminder that shows you sent in your payment on time.

Consider whether you need to have extra money available

Plan a reasonable budget that you can live with until you get your next paycheck. If you have extra money, use it to pay down the balance of your bills.

Before making any major purchases, figure out what you will be spending your money on and how much money you will be bringing home after paying for your items. Also, consider what you need for your dream vacation. Do you really need it?

It is better to cut back on entertainment than it is to overspend on it. Most people will find that they enjoy watching TV more than they enjoy going out to dinner. Spend the money on movie tickets or other forms of entertainment that are important to you instead of eating out every night.

Ask for coupon or sales that might be available

Ask the store manager or the cashier about any coupons or sales that might be available. Look for coupons in the paper or online for free things or seasonal sales. You may be able to save some money by using coupons instead of buying the free stuff.

Keep track of your credit card payments. It may seem silly to have such a budget, but many people forget to account for the bills they receive each month. By keeping a record of your payments, you can begin to cut back on unnecessary expenses.

Before you leave for work, make a list of the things you need to do before you get to work. This way, when you get to work, you won’t be rushed and you will be able to focus on getting your work done. Think of the things you need to do as priorities and you will be able to get more done quickly.

These are the tips to get you through the week before payday. They will help you manage your money well and make sure you don’t run up debt.

Installment payday loan? You certainly mean an installment loan

Most of us suddenly needed more or less cash at least once in our lives. Such financial problems do not bypass almost anyone. Fortunately, thanks to the BiBank installment loan, you can deal with them quickly!

The car has once again refused to obey in the middle of the road and would you prefer to buy a new one to avoid the trouble of constant repairs?
A child dreams of a modern computer? Wife wants to go on holiday abroad?

Would you like to make all these dreams come true but you lack the money? What to do in that case? Of course, you can go to the bank, but there you have to complete many formalities (e.g. set up an account and provide a certificate of earnings), and finally many clients hear that they have no creditworthiness. A quick installment loan from BiBank will be a much better solution!

Installment payday loan – what does it mean?

Installment payday - what does it mean?

It must be mentioned that many people confuse the terms installment and installment loans. The payday loan usually consists of smaller amounts and must be paid off within a short period of time – usually up to 60 days from the date it was incurred. Therefore, the term installment payout is incorrect. You can pay an installment loan for up to 24 months. It is completely secure and you don’t have to worry that you won’t be able to settle your liability.

Installment loan in BiBank without unnecessary formalities!

Installment loan in BiBank without unnecessary formalities!

At BiBank, the formalities necessary to obtain an installment loan have been reduced to a really necessary minimum. Thanks to this, you can receive money instantly – practically right away. Nobody will require you to provide a stack of documents. You will also avoid analyzing your credit history and assessing your creditworthiness.

You can get from PLN 2,000 to even PLN 10,000 and you don’t even have to leave the house. You can complete the required formalities via the Internet, using a legible and easy to use website. If you still have any doubts, you will quickly contact an online BiBank expert who will answer all your questions and provide advice. At BiBank, the customer is the most important, so the company provides you with the highest level of service.

At BiBank, you pay back as you like!

At BiBank, you pay back as you like!

BiBank’s quick online installment loan is available 24 hours a day, 7 days a week. You decide how much you borrow and how you pay it back. You can easily adjust the monthly installment to your budget by choosing the repayment period.

Do you care about small installments? BiBank we will arrange repayment for a long time – up to 24 months. Maybe you prefer to have a commitment as soon as possible from your head? In this case, BiBank will offer you a minimum repayment period with a higher installment. The contract is simple, transparent and does not contain any hooks or legal tips. At BiBank, we are honest with our clients.

How do you get the amount you need? Just go to the website, decide how much money (from PLN 2,000 to PLN 10,000) and for how long you want to borrow (repayment period can be from 12 to 24 months) and fill out a short application on which to enter your ID card number and account number. Your application will be processed even in a quarter of an hour, and the money transferred to the indicated account or paid by GIRO check. You don’t even need to have a bank account! That’s all – you can start making your dreams come true.

BiBank installment loan is the best rescue for sudden financial problems. You will get it quickly and pay it back the way you want.

The best cash loans for PLN 35,000 for 60 months without insurance

The cheapest loan for PLN 35,000 and 60 months costs less than PLN 7,000. However is it the best? In addition to the cash loan, the bank may provide several bonuses to influence the attractiveness of its offer. And we’re not talking about additional paid insurance or cross-selling forcing you to use additional products.

Following the trail of last month, we have prepared a ranking of cash loans taking into account a slightly larger field of assessment parameters than just the total cost of a bank loan. This time, we have additionally included the availability and possibility of taking advantage of credit holidays.

The banks presented calculations for their cash loan offers based on the borrower model we established. It was a marriage (a 33-year-old man and a 31-year-old woman) earning a total of PLN 5,000 net of tax per month (income is distributed equally, but the man works under an employment contract for an indefinite period, and the woman until December 31, 2019 with the option of extension). They don’t currently have any loans and their credit history is clean as a tear. They are also completely new clients for the bank and they absolutely do not want to take advantage of additional insurance.

The best cash loans for PLN 35,000 for 5 years

The best cash loans for PLN 35,000 for 5 years

Banks had 15 points to win for their offer. 10 of them were payable for the cost (based on the highest and lowest cost of the table, we set 10 thresholds with an allocated number of points from 1 to 10). Another 5 points we allocated for additional facilities: loan availability completely online (2 points), the possibility of using a grace period as soon as the loan was launched (2 points, however, if the bank offered it, but only during repayment, we assigned 1 point) and the possibility of free cash withdrawals at a branch instead of to an account (1 point).

Under these assumptions, the best loan was Cash Loan with a low commission of Bankate. The bank has received the maximum number of points – it is one of the cheapest cash loans available on the market and offers all the facilities we consider. His pricing terms for a model customer assume a total cost of PLN 7401.19 and a monthly installment of PLN 707.32, with the last one only PLN 669.31

How much does a PLN 35,000 loan cost?

How much does a PLN 35,000 loan cost?

OutBank came in second, although it presented a slightly lower installment than the winner, but did not allow payment at the branch. This is due to a rather prosaic reason – he simply does not run physical bank branches. The podium was closed by OutBank. Here, too, the maximum number of points for the cost was awarded, but we cut the points for the availability of the loan in full via the Internet / telephone and no payment of the amount incurred in the facility.

The price range of the analyzed offers is large. The model borrower will have to pay PLN 6,663.60 for the cheapest loan in the table, but in another bank he may face a total cost more than twice as much – exceeding PLN 15,000. This only confirms the old truth – before making a decision, you should review at least a section of the market, because even against the background of several banks, one will offer more favorable prices.

How much does it cost to withdraw from the loan agreement?

 

Withdrawal from the loan agreement – legal basis

Withdrawal from the loan agreement - legal basis

The legal basis that allows the borrower to withdraw from the loan agreement is the Consumer Credit Act. It defines consumer credit as a product that was granted to the borrower solely for private purposes as part of the business of the lender. The maximum loan amount is PLN 255,550 (or its equivalent in a foreign currency).

Warning!

Free payday loans are not consumer loans under the Act. It is clear from the regulations that consumer credit is an obligation that bears interest and incurs additional costs.

According to the law, you have 14 days from the time you sign the loan agreement to terminate it. However, this is the minimum time imposed on lenders by the legislator. In practice, banks can extend this time as you like – you will find this information in the loan agreement.

Credit intermediation agreement – who is a financial intermediary?

Credit intermediation agreement - who is a financial intermediary?

In the light of the regulations, a financial intermediary is an entrepreneur who, in the field of his business, obtains financial benefits by carrying out activities related to the preparation, offering or conclusion of a loan agreement. Therefore, if the lender is a private company, not a financial institution, then you can have a big problem with the cancellation of the loan.

You’ll find at Totalmoney.pl: Cash loans – take cash for any purpose

Withdrawal from the loan agreement – how to do it?

Withdrawal from the loan agreement - how to do it?

If you want to cancel the loan, you must provide the bank (in person or by post) with a statement of withdrawal from the loan agreement. When completing the statement, you do not have to give reasons for resignation, and you will receive a withdrawal template, along with other documents, when you sign the loan agreement.

The request for withdrawal initiates the procedure of resignation from the loan, and you have 30 days to return the borrowed amount with interest due to the bank. The lender has no right to charge you any additional fees in this respect.

Credit agreement – consequences of withdrawal from the agreement

After withdrawing from the loan agreement, it loses all its legal force. This means that the entries contained therein are no longer binding on either party.

You must remember that until you repay the entire borrowed amount, you will have to pay the bank interest due for each day on which the funds were in your account.

Loan agreement – elements of the loan agreement

Loan agreement - elements of the loan agreement

The framework credit agreement is a document that specifies in detail who grants the loan and to whom. Pursuant to the Act, credit agreements should contain such elements as:

  1. Data of both parties – name, address and address of the borrower as well as the name and address of the bank’s seat.
  2. The purpose for which the loan was granted.
  3. Loan amount and currency.
  4. Repayment date and schedule.
  5. The loan interest rate and the conditions for its change – in the event of a change, you will have to sign the annex to the loan agreement.
  6. All additional fees to be paid in connection with the launch and servicing of the loan.
  7. Information on how to withdraw from a loan agreement.

The loan agreement and its elements are slightly different if you borrow money in a currency other than PLN. Then the contract should additionally specify the method and date of determining the exchange rate on the basis of which the loan amount is calculated.

Clauses not allowed – what is it?

Clauses not allowed - what is it?

You’ve probably signed more than one contract in your life – how often have you been able to negotiate its terms? This applies to contracts prepared by banks, telephone operators, developers, insurance companies, travel agencies, gas and electricity suppliers, etc.

For the consumer, signing a standard contract involves the risk that the trader will impose on it clauses that will not be favorable to him. That is why the Civil Code assumes that provisions which have not been agreed individually do not bind the consumer if they “shape their rights and obligations in a manner contrary to decency and grossly violating their interests”.

A collection of all prohibited clauses can be found in the Register of Prohibited Clauses of the Office of Competition and Consumer Protection. The most common of them include those that:

  • order the client to use other bank’s financial products,
  • they pass on to the consumer the costs of the bank’s operations.

An interesting text on the subject of prohibited clauses (so-called abusive ones) can be found on the UOKiK website. Check it out if you suspect that the contract you signed contains such provisions.

Credit agreement – take credit with your head!

Credit agreement - take credit with your head!

The signing of the loan agreement takes only a moment, but the effects of a bad decision can be felt for many years. Fortunately, thanks to the Consumer Credit Act, we have the right to withdraw from the loan agreement. However, it should be remembered that for our reckless approach to this topic, we can pay the bank some kind of “compensation” in the form of interest for each day of use of the loan.

Loan period – advantages of shorter and longer loan period

Is longer credit favorable?

Is longer credit favorable?

In the case of mortgage loans, the matter is not as simple as it seems. As a rule, a longer loan period is more favorable. It automatically means a lower value of the monthly loan installment because the amount we have to pay back is spread over a longer period of time. This has some consequences.

This allows you to increase your creditworthiness, which in some cases may be strategic in obtaining a loan, especially in view of the current Recommendation S. However, we must bear in mind that as the loan extends, the total cost of the loan increases, or in the end we will give more to the bank.

However, with such a large commitment as a mortgage, we often simply have no choice. We also need to keep in mind certain limits, such as the borrower’s age at the time of repayment. Most often it is 70-75 years old. For example, a 68-year-old person will not get a loan for 25 years, because in practice no bank will take such a risk.

Is it always worth paying off the flat longer?

Is it always worth paying off the flat longer?

It’s best to choose a bank that doesn’t charge an early repayment fee. Then, deciding to extend the loan time, we can have a low installment, but with the possibility of higher payments, which gives us security in the event of unexpected situations that could strain the household budget.

If the bank charges fees (within the first years or throughout the loan period) and we do not plan to pay back the loan earlier, it will also be best to lower your monthly installment and choose a longer repayment period. However, it should be remembered that – for safety – the value of the monthly installment should not exceed 40% of our household’s net income.

Other cases

Other cases

If you decide to take out a loan in a foreign currency, it is definitely safer to choose the same option as for a mortgage. The longer the repayment period, the lower the risk associated with changes in exchange rates. Therefore, it is worth determining the installment and loan parameters in such a way that even a significant increase in the sale rate or reference rate does not disturb the timely repayment of the liability.

And what about cash loans? It is true that the monthly installment when extending the loan repayment is relatively low, but looking at the total cost of the loan with interest, choosing a shorter period is more profitable, which results not only from a simple calculation. In many banks, loans granted for a shorter period bear interest at a lower rate.

In addition, the extended repayment period brings, apart from worse interest rates, additional fees such as life or unemployment insurance. Repayment of the loan in the short term allows you to take another loan or increase the amount with the extension of the period.