Micro-credit – Tips For Comparing

Micro-credit – Tips For Comparing

What you should know about the micro-credit. The micro-credit is a regular installment loan starting at EUR 500 up to 20,000 euros. A micro-credit is recorded either as clean credit free use or as dedicated credit for financing a car, for example. Small loans in fixed monthly installments for a period of up to 120 months. The micro-credit will represent 15,000 euros, which should be repaid within 48 and 60 months, can a significant burden as financial burden even if the credit referred to as micro-credit for the consumer. Not every consumer can afford to pay monthly installments of several hundred euros out of his income. Rates can repay themselves only of freely disposable income.

Whether a borrower has the ability, the banks within the framework of the credit check to check they make a budget bill in the revenue and expenditure of the borrower are juxtaposed. The disposable income is not sufficient, a guarantor is required or the Loan application rejected. Every consumer should be before he applied for a small loan, even check what rate he can ever afford. Goes best with a loan calculator, which make available to banks on the Internet. If the micro-credit will become distressed when loans are non-performing the shops are no longer the borrower, where able, agreed to repay the monthly instalments and the Bank already rates arrears is. After a particular Dunning process, the Bank will cancel the loan and make the balance due immediately. A termination of the credit entails a Schufa then entry. The Schufa entry will in the coming years the creditworthiness of the borrower strongly affect, so that he will get no credit, also no small credit granted as a result. Is still urgent need for credit, to pay such other debt, remains the alternative is to apply for a small loan without Schufa credit mediation.

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