Credit Renegotiation

Contrary to consolidated credit , credit renegotiation is a solution that is available to all people. In fact, it is a much more comprehensive solution than the consolidation of credits and that can solve the problem of excess debt at the root. So, know that you can renegotiate credits if you have:

  1. Bank incidents;
  2. Name on the IXS bank black list ;
  3. High effort rate.

 

What is Possible to Do in Credit Renegotiation?

To be more successful, credit renegotiation should be extended to all of your lines of credit. However, you can only trade a few credits if you do not want to tinker with some line or if you see that it is not advantageous.

Depending on the type of credits you have, you will be able to:

  • Increase deadlines;
  • Reduce interest rates;
  • Refinance your credit into a separate agreement (for example, turning a credit card into a personal credit);
  • Assign grace periods or residual value.

 

What are the Results in Credit Renegotiation?

What is Possible to Do in Credit Renegotiation?

Contrary to what many people consider, credit renegotiation often has more interesting results than credit consolidation. The experience of the experts has presented the following numbers:

  • Average credit volume – € 80,000
  • Average number of lines of credit – 7.5 lines
  • Average Savings – Approximately 30% -40%.

Of course these numbers are average numbers. It may be possible to have higher or lower savings, depending on the family situation.

 

How Credit Renegotiation Works

The credit negotiation process begins with the survey of the financial situation of the family. In practice, you will need to identify:

  • Monthly income and expenses, making the family budget;
  • Debts and their characteristics, through the map of credit responsibilities and bank statements.

In possession of this information it will be possible to define a financial plan and start the negotiation process. The two main objectives of this process are to identify the real situation of the family and to collect arguments for negotiating with financial institutions.

 

Banking Is Open To Credit Trading

How Credit Renegotiation Works

After collecting all your information we will contact all financial institutions and submit offers to reduce benefits. The great goal will be to reduce your benefits to a sustainable value, ensuring that you can bear all of your costs and have the best solution for your case.

 

Does Credit Trading Have Any Costs?

The credit negotiation process has no cost of analysis or dossier. We do all the work for our clients until the new contracts are formalized between clients and financial institutions. We will present proposals with clients always the last word in the process. If we get the customer to reduce their services, the cost of the service will be indexed to the savings achieved . This means that if there were no savings there would be no cost to the process.

If you want to know in more detail how we will help you save with your credits, fill out our form and you will be contacted for a diagnosis.

Benefits of Generating Credit History | Business Tips

 

14 Mar Benefits of generating credit history for your company

 

14 Mar Benefits of generating credit history for your company

 

In different articles we have explained the benefits of having a good personal credit history, now it’s time to explain how to start generating a good track record for your company to get more benefits.

Start generating credit history for your SME and get the following benefits.

# 1 Get more loans for SMEs

# 1 Get more loans for SMEs

According to the results of the SME Credit Report that we made, 8 out of 10 entrepreneurs finance their businesses with personal credit or credit cards. This is because entrepreneurs do not have the requirements that financial institutions request and do not have a credit history of their company.

Keeping your business history healthy will make it easier for you to obtain productive loans, so they will be an instrument of growth and not a debt instrument.

# 2 Access to larger amounts and comfortable terms

# 2 Access to larger amounts and comfortable terms

 

As with your personal credit history, if you have a good track record with your business you can achieve larger amounts and longer terms. For example, if you apply for a credit as a legal entity in Konfío, you can reach amounts up to 1 million pesos.

Remember that the term is calculated based on the amount you choose, so you can get long-term credits and turn them into an ally of your company.

 

# 3 Get better interest rates

 

# 3 Get better interest rates

 

By continuing to finance your business with credit cards you are paying annual interest up to 70%. If you improve the credit history of your company and you get credits for business you will be saving considerably on the interest you pay. A business loan is much cheaper than a personal loan, since the financial risk is lower.

If you do not know the credit history of your business you can consult it for free once a year in the Credit Bureau. If you are a Physical Person with Business Activity you just have to fill out the application for “Special Credit Report of Companies and Physical Persons with Business Activity” and they will send you the information by fax, mail or courier. In case of being registered as a Moral Person, the report must be authorized by the legal representative.

An SME loan can be a tool that drives the growth of your business, so it’s time to improve your business credit history and obtain better conditions.

Buying Houses To Banks With Credit Housing?

Already around here we have spoken several times that housing credit is back. Banks are increasingly eager to give credit to their customers and we already see many people switching banks to reduce the spread of their loans.

At this stage, the advantage of buying a home from banks is less and less advantageous when compared to other alternatives, which is not to say that it is not a great solution. In this article we will talk you some advantages of buying houses to banks.

 

The Interest on Your Home Loan May Be Lower

The Interest on Your Home Loan May Be Lower

With the successive reduction of the interest rates ( spreads ) practiced by the banks, it is already possible to buy your house with very small monthly installments . In this context, spreads practiced on banks’ homes are usually slightly lower than market spreads. So, cases are interested may happen to be able to do your credit housing with spreads close to 1.25% in some banks.

 

Financing Equal or Greater than 100%

This is the great advantage of buying houses to banks. If to achieve spreads of 1.5% it is necessary to give an entrance of close to 20% of the valuation value , in the case of banks houses it is possible to have 100% financing (or more, which makes it possible to pay taxes and other associated costs the purchase). Unfortunately, this facility can carry the risk of making bad financial decisions. In fact, many people today regret buying their home, something they could have avoided if they had to make an entrance. Yes. Having to make an entrance is a good inhibitor, which requires us to think several times before making a decision.

 

Extended Term and Reduction of Commissions

Financing Equal or Greater than 100%

Banks want to “dispatch” the houses they have on their balance sheets. In this way, they will create various facilities to make your decision faster (and less weighted). Thus, it is common to allow longer deadlines (which allows lower benefits) and the reduction of various committees, such as the opening commission or the evaluation committee.

 

This Option Has Disadvantages

When buying a home the bank is focusing on reducing interest rates (which are not, as we have seen, more appealing than the rates practiced in the market by some banks). This focus will lead you to disregard other factors of analysis that end up weighing heavily on your budget. In this context, we highlight two:

  1. The banks are not very open to negotiate the purchase price , which ends up giving the buyer a very large negotiating power that would make it possible to lower the cost of acquisition and consequently the value of the monthly installment;
  2. The lower spread does not translate into a lower APR. That is, all the associated costs and many other costs end up making your proposal very expensive. For example, many banks require you to underwrite home loan life insurance with your insurer which, as a rule, is much more expensive than alternative insurers (incidentally, we know of many cases where customers pay more for life insurance than for provision).

 

What to do?

What to do?

If you are undecided as to what to do, why not use the mortgage simulator so as to get an idea of ​​your monthly installment and the benefit you may have if you buy a home using a traditional housing loan? The best of all is that it does not have an associated cost so it does not take any risk ?