Consumer Credit Comparison ~ Credit for All.On June 25, 2019 by admin
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When one is unemployed
In order to maintain its employability, employee pays the unemployed eligible for the Allowance to Return Employment (ARE). It allows you to collect funds to live on, get dressed to go to a job interview or have a vehicle in working order. Under very restrictive conditions a consumer credit may be granted.
An unemployed person can also be a business leader in power, who can receive two types of help from employee:
- Help for Business Recovery or Creation (ARCE)
- the maintenance of unemployment benefits during the launch of the company
The unemployed who are no longer compensated by the AER, can then claim in some cases to the Specific Solidarity Allowance (SSA).
When we are acting
Sometimes wrongly, temporary workers are less well-regarded than employees on permanent contracts and the doors of bank credit then open very hard.
The relay is taken by platforms like FASTT that allow a whole range of help: housing, travel and even credits! It is enough to justify a certain number of hours to benefit from it.
While being considered more sure than a temporary employee, the employee on fixed-term contracts is often more difficult to find funds. Personal credits are limited to the duration of the fixed-term contract and have very restrictive objects. Do not count on a credit to go on vacation!
As for a mortgage , it is almost impossible mission, unless you have a co-borrower.
When we are retired
With stable incomes, retirees are often a prime target for credit. Their real estate inheritance then often comes in guarantee of the requested credits. However, be careful with loan insurance that can quickly prove to be a financial pitfall.
When one is disabled
People with disabilities are the first to be affected in the event of an economic crisis, while they often have significant costs to cope with everyday life. Devices have been put in place to protect them:
- Allowance for Adults with Disabilities (AAH) to offset the additional costs
- tax credits for equipping
- the AERAS (Insuring and Borrowing with an Enhanced Health Risk) agreement to insure
What is a consumer credit? Definition
Consumer credit is when a bank or credit company lends money to an individual for any expense except real estate. It allows you to buy quickly , without having to save. Review of what to know before making a credit conso.
Make a consumer credit
The credit allows families to buy faster, without having to save, to equip themselves and provide for family needs. Banks lend according to the salary or other income of the borrower, the one who applies for a loan. They calculate their debt capacity, ie how much credit can the plaintiff have.
The bank then offers several types of loans, tailored to the client.
- Either the customer can repay easily (because he has a big salary): he will make a credit refunded quickly to pay less interest. He will have high monthly payments.
- Either he will pay slowly, with smaller monthly payments, but much longer. He will pay a lot of interest.
Interest is what the bank takes as money to pay for its “service” rendered
Consumer credit is well regulated by the law. Credit advertising companies must adhere to a large number of guidelines. They aim to clarify and simplify the understanding of the future applicant for credit. There will always be the legal notices that no one reads, but at least the interest rates are clearly displayed. The terms used are standardized. We are talking about the APR, the interest rate, which we will find identically on all legal notices of all credit companies. It is now easier to compare credit companies’ offers with each other and choose the most advantageous.
The different types of consumer credit
Everything that can be bought or almost bought can be bought on credit. A car loan to buy a car, a holiday credit to finally be able to rest a year of work, a credit work to renovate his house.
A credit adapted to each kind of consumer need.
- the loan allocated : the bank lends us money to buy a specific object, a car for example.
- personal loan : the bank lends us money, without any specific expense. The customer will spend this money wherever he wants. Such a type of credit requires strong guarantees from the borrower, such as salary sheets or stable income.
- the revolving credit , the former “revolving credit” or cash reserve. It is very often associated with credit cards, it is the easiest credit to obtain with very little formalities.
Many department stores offer credit cards associated with a revolving credit to facilitate the purchase of their products. This is one of the main dangers of credit , it can quickly spend beyond the reasonable. If you pay attention, it is a convenience that can be very practical.