How to know who got me to the Credit Bureau?

Colloquially we refer to “being in the Credit Bureau” as something negative. But we shred this phrase. The information of anyone who has managed a credit card with a banking or financial institution and has paid it on time or not, insurance is in the Bureau with the respective positive or negative rating.

Credit Information Societies are made up of several companies that people have adopted as “bureau” or “credit bureau”, but let’s say that is a specific firm, although there are others, such as that are also dedicated to shaping the “credit history.”

What information is in the credit reports?

What information is in the credit reports?

In these documents you will find:

  • Each of the loans you have requested,
  • Purchases made with credit cards,
  • If you have paid on time,
  • How many delays have you had,
  • If debts are pending settlement.

So it is not that some institution specifically “got you” into the bureau. Anyone who has credit or has used credit is registered in these databases. If your behavior as a debtor has been good and you are a responsible payer, these companies qualify you positively so that you continue to be a subject of credit.

If you have incurred in default, then these companies will put it in your document, to put it simply, but it means that in your record they noted that you lost your ability to pay and therefore you are no longer reliable to request a loan again .

What does the Credit Bureau do?

What does the Credit Bureau do?

Among the activities of credit information companies we list at least 5 fundamentals:

  1. Integrate information provided by financial institutions.
  2. They create a file for each debtor that contains data on the credits he has and has had.
  3. Inform debtors about the queries that credit grantors and service providers make to your credit history through the Credit Report.
  4. They give certainty about the behavior of each debtor from the financial and credit point of view.
  5. In case you have a positive record, they help you get a loan faster.

What do I need to check my Credit Bureau?

What do I need to check my Credit Bureau?

Remember that every year you can make a free consultation of your credit history. The subsequent ones you do in that period will have a cost. Just access the site and have the following information on hand:

  • Basic personal data:
  • Name
  • Address
  • Phone
  • Date of birth
  • Email
  • CURP and RFC
  • Credit card number,
  • Credit limit and granting institution
  • Identification number of the mortgage or automobile credit (if any has been acquired in the last four years) and which company authorized it.

If you are with a negative record, it is also not like to wish the Earth to swallow you. There’s a solution. You can go with a credit repair company that will help you better understand how financial institutions work and will help you plan a savings that will allow you to settle your debts to clean your registry.


Loan subrogation – Transfer, removal or consolidation?

Loans typically guaranteed by mortgages, from those offered by banks to those disbursed by financial companies or by INPDAP, have become the easiest to substitute, thanks to the portability of mortgages, institutionalized in 2007. In the case of unsecured personal loans, the situation has not instead, it underwent major regulatory changes.

One of the criticisms that were made of the various ‘Bersani decrees’ concerned the absence of the classic loan within the possibilities of pure and simple portability. To compensate for this lameness of legislation, some banks have organized themselves by offering products often indicated with the terminology of moving loans or similar.


How to substitute loans?

How to substitute loans?

The need to change the financing in progress, with one that has better conditions (a fundamental element to be able to obtain the subrogation of mortgages) or that overall is more sustainable in repayments, determines the possible solutions that we can put in place. However, since there is no real subrogation of the loan, it is possible to change the financing in progress even with another that has no requirements for convenience or greater sustainability.

This is because the absence of the mortgage and the typical formalities of a mortgage are not there, and therefore you are free to move as you see fit, both for better and for worse. In any case, from a merely practical point of view we can opt for three main alternatives which are:

  • the assignment of the fifth;
  • the consolidation loan;
  • moving house or moving house loan.


Moving the loan: not real portability but functional and easy to obtain?

As mentioned, some banks have introduced loans with improved characteristics and conditions compared to the previous ones. This choice was made because from some research conducted by the ABI it was clear that when you have customers with a medium-term loan in progress, it is easier to be able to have it for other products, first of all the current account. So to increase customers, taking advantage of specific promotions mostly with a temporary nature, loans are offered with convenient rates and bonuses based on more or less generous repayments .

These ‘offers’ start from the possibility of extinguishing the loan that you have with another bank, turning on a new one at the credit institution that activates the promotion. If we compare these proposals, the most important aspect is that of duration: the ‘facilitated’ repayments are made available only for loans with at least an average duration (generally greater than 48 months). Even if in these cases we speak of loan subrogation, it is evident that this is in fact a replacement .

Warning: this ‘mechanism’ should not be confused with the portability of the loan , which occurs when the payment of a loan installment is moved from one account to another, simply by providing the new bank details to the financial or lending bank, or by taking advantage of the account removal functions. These can be activated through a simple digital procedure both partially (only for some credits and debits) and for all those present on the previous account.


Loan consolidation: from many loans to one

Loan consolidation: from many loans to one

Loan consolidation, on the other hand, is the loan designed to transfer existing loans by merging them into a single new loan which consolidates and replaces them. Also in this case we cannot speak of a true subrogation but it is a system that remains more faithful to the criterion of convenience that must be present in the removals of mortgages with portability.

The procedure is well defined although it may have some variables depending on the lender. Precisely for this reason it is necessary to contact the banks that provide this type of product directly, such as Lendomestic , Onicredit , Credimild to name just a few. For this type of solution, the main advantage lies in the fact that quite large sums can also be requested, but which must in any case be equal to the sum of the residual capital plus the relative extinction penalties provided for by the extinction accounts of any other financing that is intended to be consolidated.


The assignment of the fifth: to move funding with greater freedom

loan subrogation

The transfers of the fifth are not born with a very specific purpose (only the Inpdap multi-year direct loans are an exception, which can be disbursed only for certain needs) and fall into the category of personal loan.

This type of loan does not take into account existing loans (unless the level of debt is already out of control) and for this reason it can be used to replace them. It is possible to obtain with greater freedom even a sum greater than the initial one. It is therefore an alternative that lies in the middle of the other two.

The only real disadvantage of this method of financing is due to the fact that the other solutions are also accessible to self-employed workers, those who carry out business activities and freelancers. Instead the transfer of the fifth is accessible only to employees (both public and private, with the sole exclusion of some small sub-categories and limited cases) and to all pensioners.


Differences between the portability of mortgages and that of loans

Differences between the portability of mortgages and that of loans

As evident from the alternatives indicated up to here, unlike the mortgage, the loan substitute does not exist in any specific form. Precisely for this reason we can indicate only possible and non-structural common features. In particular:

  • ancillary expenses can and must not be eliminated (at the lender’s discretion);
  • the extinction accounts that may include costs must be requested ;
  • the repayment of the previous loan must take place in the manner requested by the lender, since there is no single and univocal procedure;
  • you must not let yourself be attracted by promotions without having made a careful comparison, especially if you rely on promotional rates to be taken;
  • in the calculation, especially in the case of transfers of the fifth, the incidence of costs related to insurance premiums must also be considered.

Once again, the request for various quotes is fundamental which, being free and without any commitment, allow you to clarify your ideas by comparing costs, features and conditions, even online.


Credit for heat pump

A heat pump can be a very sensible purchase for every home owner because it can significantly reduce energy costs and save money. However, many shy away from such an acquisition, because the costs for it exceed the possibilities of some homeowners.

However, there are different ways to get cheap financing. You should contact the local energy supplier, who often either subsidizes the purchase of a heat pump or supports it with cheap financing.

Banks help with credit for a heat pump.

Banks help with credit for a heat pump.

As part of the promotion of regional craft businesses, banks finance the purchase of heat pumps if local specialist businesses are used for the installation. It doesn’t matter whether the company is a customer of the bank or not. Since the installation of a heat pump is absolutely in the hands of experts, a regional company is usually the better choice. There are no extra costs for arrival and departure and later maintenance work can be carried out inexpensively.

Use of KfW promotional loans.

Use of KfW promotional loans.

The Society for Reconstruction offers a particularly favorable loan for a heat pump. Low interest rates and long terms characterize these loans in addition to a repayment waiver during the first few years. It does not matter whether the loan is applied for a renovation of existing living space or for a new building. It is only important to meet the applicable criteria for energy-efficient construction.

Use of funds from the Federal Office of Economics and External Control.

Use of funds from the Federal Office of Economics and External Control.

The Federal Office of Economic also grants credit for a heat pump. The prerequisite is that the heat pump is installed in an existing building as part of a renovation. New buildings are excluded from the funding program. Furthermore, the annual performance factor and the output are decisive for the promotion of heat pumps. Homeowners who buy a solar system as well as a heat pump can enjoy attractive combination bonuses.

Credit for a heat pump through the home loan contract.

Credit for a heat pump through the home loan contract.

Owners of a home savings contract can also use its value to buy a heat pump. You benefit from very low interest rates. These can easily be paid for the traditional energy sources with the saved amount. In addition, the loan for the heat pump can be repaid very flexibly as a home loan.


Employee’s age and the possibility of obtaining a loan.

When you apply for a housing loan, banks and non-bank lenders impose on you a number of loan criteria that must be met before you can qualify for this financing. These include stable income, proof of income source, good credit history and minimal debt.

But what about age?

But what about age?

Are there any restrictions on the age at which you can take out a home loan? What impact does age have on borrowing power? Let’s take a closer look at this topic.

What is the maximum age possible to get a loan?

What is the maximum age possible to get a loan?

There is no widely accepted maximum age limit at which you can qualify for a home loan. There is, however, the Act on Discrimination Based on Age and the Act on Consumer Protection, which prevents lenders from discriminating against mortgage applicants based on their age.

However, lenders are also required to ensure that anyone who takes out a loan can conveniently afford to pay it back without experiencing undue financial hardship. With that in mind, the older you are, the harder it can be to get a mortgage.

In the past, lenders did not impose any age limits on the mortgage. But over the past few years, a small number of lenders have introduced certain age limits on some of their home loans. Where maximum age limits apply, it is usually between 65 and 75 years old.

Why are lenders reluctant to lend to senior borrowers?

Why are lenders reluctant to lend to senior borrowers?

Lenders are not entitled to discrimination based on age, but they still need to make sure that the standard lending criteria are met. This is based on your ability to repay the loan in a timely manner during the loan term. The most important factor affecting the repayment of a home loan is the income you earn, so if you already have a retirement or are about to leave your job in the next few years, it will take you a little more effort to convince the lender that you will be able to pay back the loan.

The lender must be sure that you can repay the loan. When you consider that a typical home loan term is 30 years, the 65-year-old applicant could potentially be within 100 birthdays before paying back the loan – and this may constitute an unacceptable level of risk for the lender.

If you are an older person and apply for a housing loan, the lender will evaluate your application in the same way as an 18-year-old or 38-year-old application. If your finances are okay and you can show your loan repayment capacity, your application can be approved. It is slightly less restrictive when it comes to short-term attractive non-bank loans – because here, in fact, age does not matter. It is important to be an adult to qualify for such a loan.

Familiarize yourself with all the tips and advice to increase your chances of accepting any loan application.


Change car loan – refinance quickly and inexpensively


Nothing is set in stone for eternity. Changes in the life situation, the interests, not to forget cost reasons, speak for the change of contract or for the subscription the termination. Criticism at http://www.arbeiasociety.org.uk/best-debt-consolidation-loans-our-online-form-for-a-total-debt-consolidation/

A special feature comes with car loans. Most pay attention to the small installments when buying. You finance with the final installment. In other words, the small installments only make up for the loss in value. In the end there is an “invaluable” high closing rate.

The follow-up financing from the manufacturer’s bank is also usually very unattractive in terms of price. Switching the car loan, getting the low installments through low interest rates and the right term is the hope.

Refinance final installment – the right time

Refinance final installment - the right time

There is initially no rush to think about the new financing of the final installment. However, a few weeks before the closing rate is due, it is time to “take care”. Personal creditworthiness is decisive for whether the final installment can be easily refinanced. Because, at the due date, the vehicle value corresponds to the payment.

The vehicle value, but not the mortgage lending value. This is between 20 percent and 30 percent less than the sales value of the car for the dealer EK. The difference must balance personal creditworthiness. At the same time, this determines whether particularly cheap car loans are eligible.

Switching a car loan with a good credit rating is not a problem. Modern car loan can be in the account in 48 hours . We still recommend that you apply four to six weeks in advance. Most banks accept the wish to postpone payment to a fixed date in the future (without interest).

Change car loan – debt rescheduling

Change car loan - debt rescheduling

From time to time it makes sense to combine existing loans. The current account should be permanently “above zero” again. Likewise, other payment obligations could be the reason for the “big cleaning up”. Switching car loans through a direct bank offers plenty of scope.

Many lenders allow you to take out a “dedicated” car loan and at the same time offset other debts. You can see who offers low-interest car loans for “general debt restructuring” from the loan comparison, see Product details. The special conditions are listed under the heading “ Benefits ”. It should say something like: “Debt rescheduling number 10 or even unlimited”.

In this way, changing the auto loan becomes a real interest-saving model. However, the old credit can still tarnish the joy. Unfortunately, early repayment of the “old loan” is not generally permitted free of charge. The “prepayment penalty” can amount to up to one percent of the loan amount. (Valid for installment loans after June 11, 2010).

Our tip – check old contracts

Our tip - check old contracts

Before you decide to switch, we advise you to check the old contracts. Through the “prepayment penalty” the hoped-for saving effect can be reversed or at least vanish.

Problem cases – when is it difficult to change?

Problem cases - when is it difficult to change?

Regardless of whether the final installment is rescheduled or whether it is rescheduled, problems cannot be ruled out. Of course everyone wants to change their car loan and pay as little interest as possible.

Despite the generally low interest rate level, a “top interest rate” requires a “top credit rating”. Refinancing, for example to reschedule the final installment, is difficult due to the poor mortgage lending value. The same applies to the rescheduling of existing liabilities. A good example of this is the overdraft facility.

It is only available to the extent allowed because the credit model (which can be terminated immediately) and high interest rates allow lending despite a weaker credit rating. If he is rescheduled for an installment loan, the situation must be reassessed. The bank cannot get out of the installment loan “in the blink of an eye”. In other words, debt is not the same as debt.

Simple problem solving – second applicant

Simple problem solving - second applicant

Regardless of why a bank is critical of car loan switching, it is always about the security of capital. All credit institutions are even legally obliged to carry out a credit check.

The green light can only be given if it can be proven that the lending is secure. Most lenders offer the simplest solution to the problem. A credit for two solvent people passes the credit check much easier. The joint applicants can even hope for a particularly favorable offer of interest.

Because lending can hardly be much safer than through property security and solvent two applicants. If you have any doubts about your personal credit rating, you can either apply immediately or start a credit inquiry.

Which loan suits the applicant

Which loan suits the applicant

To evaluate your own credit request, normal citizens quickly feel overwhelmed. “Yes, the monthly rate XY, I can afford it”, simply lack the specialist knowledge.

Of course there is also a solution for this. Simply approach Agree bank with the request for a credit assessment. The portal checks “loan neutral” before the loan request. Afterwards, changing car loans is a breeze.

The proposal shows which lender offers the optimal conditions for the application. If the loan can be approved, Agree bank shows the best way.

Problem solutions – what needs to be considered?

Problem solutions - what needs to be considered?

The desire to lower the monthly installment is not a rare trigger to switch to a vehicle loan. However, it will only be difficult to pay the current installments if the limits of financial resilience have been reached.

In conclusion, only loans with limited creditworthiness are eligible. In the credit comparison, for example, the “extra credit” from “Lite Lender”. Switching car loans Using the extra loan could significantly reduce the rate burden. The bank offers loans with a term of up to 144 months. But, the small installments are not free. The 2/3 example according to shows 9.12 percent effective annual interest rate for loans under 50,000 USD with a long term.

The compound interest has a significant impact on the cost balance.

Change car loan – loan portals

Change car loan - loan portals

Legislators have set clear limits to banks’ willingness to take risks. It is different with private loans.

It is up to you to decide whether a private lender checks the creditworthiness, which criteria he applies to lending. It is possible to switch car loans – away from bank loans to private donors – through loan portals.

Agree bank with the “credit private” and Cream Bank are considered market leaders. The offer to deposit the vehicle title as collateral makes it easier to switch car loans from the bank to private lenders.

Even despite credit bureau, there are realistic credit opportunities. However, the 2/3 example according to PAngV must be observed again.

The loan from private through Cream Bank then costs, for example, 18.40 percent APR.