Can I find help with student loans?

If you have a hard time paying student loans, you may be looking for a way to get rid of student loans. The only way to get rid of student loans is to pay them off. However, lenders are much more likely to work with you if you have a difficult time making payments, then they would be for other types of loans.

It’s important to do something about student loans now, instead of hoping things will go away. If interest rates on your student loans go up, you may have a harder time paying them off. Your student loans can negatively affect your finances and you may find it difficult to save money or even pay your bills.

You can apply these seven steps to pay off your loans faster. You should take these steps as soon as you realize that you are having a difficult time repaying your loans.

Consolidate your loans for fewer payment options

When you consolidate your loans, you have the ability to reduce your monthly payment by extending the life of the loan. Over time, you will end up paying more in interest, but you can make management payments and lock in at lower interest rates.

When you are in a better financial situation, you can increase the amount you pay each month to pay off your loan faster. This is a good option if you know that your income will increase over the next few years as you advance your career.

It also allows you to continue making payments so that the amount you owe is reduced each month. This is the first option to consider when trying to find possible payment options.

Application for student loan payment based on income

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You can apply to pay student loans on a revenue basis if you have low income. This option will take into account your current family size and your income to determine the amount you will have to pay each month on student loans.

This will free up money so you can cover the needs of your family without the stress of the student loan debt that overwhelms you.

You will need to re-submit this program every year as they will continue to evaluate your income and family size. In addition, you will need to stay current on your student loans for qualification.

After twenty-five years of income-based payments, you can forgive the rest of your student loan. You will need to transfer student loans to a Joint Direct Loan to qualify for this option, but it will be worth it to find relief from your current situation.

Put a student loan on hold

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You can temporarily suspend making student loan payments by putting it on hold. Do not simply stop paying the loan. Contact your lender and explain your situation. The landlord will fill out your application for disposal. Continue to pay off your loan until you are notified that your loan has been deferred.

This is the last solution when you no longer have a job or have a financial situation. Interest will continue to accrue while the loan is still on hold. You have a limited number of months in which you are allowed to put your loan on hold. Be sure to use this option only as a last resort and when you are unemployed or in a very difficult financial situation.

Why won’t bankruptcy work?

Student loans are not usually considered bankrupt. Federal law requires you to pay back your student loan regardless. The only exception is if you become permanently disabled.

If you are considering bankruptcy because of your student loans, you are looking for a different solution, such as extra work or a reduction in your lifestyle in order to reach the goal.

Private student loans are rarely forgiven. Take the time to come up with a debt repayment plan and find a solution that will allow you to pay off your student loans so you can start focusing on retirement and wealth-building instead of being overwhelmed by debt.

What are the risks of older loans?

Senior loans, also known as borrowed loans or syndicated bank loans, are loans that banks give to corporations and then pack and sell to investors.

This asset class exploded in popularity in 2013, when its outperformance in a weak market caused higher credit facilities to attract billions in new assets, although the broader bond fund category had huge outflows. Here’s what you should know about senior loans.

Higher loans are secured through collateral

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Senior loans are so named because they are at the top of the company’s “capital structure,” meaning that if a company fails, investors in higher loans are the first to pay back.

As a result, senior credit investors typically return much more of their default investments. Higher loans are usually secured through collateral such as assets, which means that they are considered less risky than high yield bonds.

They are not without risk

These types of loans are typically given to companies with a rating below the investment level, so the level of credit risk (i.e., the degree to which changes in the issuer’s financial condition will affect bond prices) is relatively high. In short, higher loans are riskier than investment-grade corporate bonds but slightly less risky than high-yield bonds.

It is important to keep in mind that the values ​​in this market segment can change quickly.

From August 1 to August 26, 2011, the price of shares of the largest equity traded fund (ETF) in the asset class, fell from 24.70 to 22, $ 80 in just 20 sessions – a loss of 7.7%. Bank loans also declined sharply during the 2008 financial crisis.

In other words, just because bonds are “higher” does not mean that they are not volatile.

Attractive yields

Given that most of these senior banks refer to companies that are rated below investment grade, securities tend to have higher returns than a typical investment-grade corporate bond.

At the same time, the fact that bank loan holders will be paid off relative to the debtor investors in the event of bankruptcy means that they typically have lower yields than high yield bonds.

In this way, senior loans are between investment corporate bonds and high-yield bonds on the spectrum of risk and expected return. High-yield bonds are often called “scrap bonds.”

Floating Rates

A striking aspect of bank loans is that they have fluctuating rates that adjust more based on a benchmark such as the London Interbank Offered Rate or GFIC. Typically, a floating rate note will offer a yield such as “GFIC + 2.5%” – meaning that if GFIC is 2%, the loan would be 4.5%. Bank loan rates are usually adjusted at regular intervals, usually monthly or quarterly.

The benefit of a variable rate is that it provides an element of protection against raising short-term interest rates.

(Note, bond prices fall as yields rise). In this way, they function similarly to TIPS (Treasury-backed securities, providing some protection against inflation and, consequently, placing variable interest rates in an environment of rising rates than plain vanilla.

However, it is also important to keep in mind that yields on higher loans are NOT transferred with the Treasury, but with GFIC – a short-term rate similar to the federal funds rate.

Ensure diversification

Because senior loans tend to be less price-sensitive than other segments of the bond market, they can provide a degree of diversification in a standard fixed-income portfolio.

Bank loans have very low correlations with the broader market and a negative correlation with US Treasuries – meaning that when government bond prices go down, loan prices are likely to increase (and vice versa).

As a result, the asset client provides investors with a way to collect returns and potentially interfere with the volatility of their total fixed income portfolio.

This is a true diversification – an investment that can help you achieve your goal (revenue) while still moving largely independently of other investments in your portfolio.

How to Invest in Senior Loans |

While some securities may be purchased through some brokers, only one of the most sophisticated investors – those who can do their intensive credit research – should attempt such an approach.

They do not provide tax, investment or financial services and advice about Money. The information is presented regardless of the investment goals, risk tolerance or financial circumstances of any particular investor and may not be suitable for all investors.

Past performance is not indicative of future results. Investing involves risk including the possible loss of equity.

The difference between subsidized and non-subsidized federal student loans

You may be aware that there are differences between federal and private student loans, but did you know that there are different types of federal student loans?

Borrowing money using any type of loan

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Before borrowing money using any type of loan, it is important to understand the terms of the loan, but differences can be crucial when it comes to student loans.

Different types of conditions and different interest rates can affect the amount of money your student will need to repay upon graduation, as well as the types of repayment plans they may qualify for.

The first step in qualifying for any type of financial aid is to complete the GFIC or a Good Finance Investment Corporation. The GFIC for the 2018-19 school year will be online starting October 1, 2017.

Upon completion, you will get a general idea of ​​your expected family contribution or EFC. Your GFIC information is then sent to your chosen colleges, each providing an individual financial aid award package.

Students first turn to scholarships and grants that do not have to be repaid, and then student loans that have to be repaid. A grant letter will indicate your eligibility for certain types of federal student loans. You may see a formulation like “Direct Subsidized Loan” or “Non-repayable Loan”.

Direct subsidized loans are loans

Direct subsidized loans are loans

Direct subsidized loans are loans to undergraduate students who show a financial need to cover the cost of higher education in college or in their careers.

Because they are designed to help students with financial need, subsidized loans have slightly better conditions. Non-repayable non-repayable loans are borrowings from qualified undergraduate, graduate, and professional students, but in this case, the student does not have to prove the financial need to be eligible for the loan.

GFIC or parent loans are also non-repayable. Here are some points you will want to consider when borrowing money using federal student loans:

  • Interest: The U.S. Department of Education pays interest on a direct subsidized loan while a student is at school at least halfway through the first six months after leaving school and during the deferral period. Students are responsible for paying interest on direct unsubsidized credit during all periods. They may choose not to pay interest while they are at school, during the grace period, or during a deferral, but the interest will be credited and added to the principal amount of the loan. Whether the interest is subsidized or non-refundable is a significant difference in the amount of money owed after graduation, even when borrowing the same amount of money. Interest rates for subsidized and non-subsidized student loans were first paid to students on or after 7/1/16, and before 7/1/17 were 3.76%.
  • The amount available: For most dependent students, the total credit limit is USD 31,000, of which no more than USD 23,000 may be in subsidized loans. For independent undergraduate students and those whose parents do not qualify for GFIC loans, the total credit limit is USD 57,500, of which no more than USD 23,000 may be in subsidized loans. Loan fees for subsidized and unpublished loans borrowed on or after October 1, 2017, and 1,061% are 1.069%.
  • Interest payback: A popular technique for students and parents who want to eliminate the “sticker shock” of uncultured credit is to try to pay off the interest because it was added during their college years. This will help students become habits of paying student loans. Students can begin to see how interest accrues, how their payments are applied, and what a good plan for them was after graduation.
  • Principal Repayment: Both subsidized and non-repayable federal student loans are eligible for a variety of repayment plans, including standard, graduate, extended, and income-based.

Accept all student loans offered

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Your school will tell you how to accept all student loans offered. You do not have to borrow the entire amount available, so borrow only what you need.

Families need to hold conceptualized budget talks, learn everything they can about student loans before lending, and understand how student loan repayments will affect their future financial lives.

Use a student loan repayment calculator to estimate post-graduation payments.

How refinancing works: advantages and disadvantages of new loans

 

If you have a loan that is too expensive or too risky to live with, you can often refinance into better credit. Things may have changed since you borrowed money, and there may be several ways to improve the terms of your loan. Whether you have a home loan, car loan or other debt, refinancing allows you to move your debt to a better place.

What is refinancing?

What is refinancing?

Refinancing is the process of replacing an existing loan with a new loan.

The new loan pays off current debt so that the debt is not eliminated when you refinance. However, a new loan should have better conditions or opportunities that improve your finances. The details depend on the type of loan and your lender, but the process usually looks like this:

  1. You have an existing loan that you would like to improve in some way.
  2. You find a lender with better loan terms and you apply for a new loan.
  3. The new loan fully repays the existing debt.
  4. You pay the new loan until you have paid or refinanced.

Why people and businesses refinance?

Why people and businesses refinance?

Refinancing is time-consuming, expensive, and new credit may lack the attractive features offered by existing credit. Then why go through the process? There are several potential benefits to refinancing.

Save money: A common reason for refinancing is to save money from interest expense. To do this, you usually need to refinance into a loan at an interest rate lower than your existing interest rate.

Especially with long-term loans and large dollar amounts, lowering the interest rate can lead to significant life savings.

Lower Payments: Refinancing can lead to lower monthly payments required. The result is easier cash flow management and more money available in the budget for other monthly expenses.

When you refinance, you often restart the clock and extend the amount of time you will take credit for. Since your balance is likely to be less than your original credit balance and you have more time to repay, the new monthly payment should be reduced.

A lower interest rate (with all other things remaining the same) can also lead to a lower monthly payment. However, simply extending the loan term can actually mean that you will pay more for the loan in the long run. To see how interest rates and your credit term affect your monthly cash flow, see how to calculate your loan payments.

Shorten the Credit Term: Instead of extending the repayment, you can also refinance into a short-term loan. For example, you may have a 30-year home loan, and that loan may be refinanced into a 15-year home loan. This move may make sense if you want to make bigger payments to get rid of debt quickly. Of course, you can also pay for free without refinancing. Making bigger payouts without refinancing will help you avoid paying the closing costs and keep some flexibility (you can pay more than the minimum, but you don’t have to if something comes up).

Debt Consolidation: If you have multiple loans, it might make sense to consolidate those loans into one single loan – especially if you can get a lower interest rate.

It will be easier to keep track of payments and loans, but consolidation can cause problems (see below).

Change your loan type: Even if you do not reduce your interest rate or your monthly payment, it may make sense to refinance for other reasons. For example, if you have a variable rate loan, you might want to switch to a fixed rate loan. A fixed interest rate could offer hedging if rates are currently low, but it is expected to increase.

Pay off debt due: Some loans, especially balloon loans, have to be repaid on a specific date. But you may not have the resources at your disposal for a large lump sum payment. In those cases, it might make sense to refinance the loan – using a new balloon financing loan – and take more time to repay the debt.

For example, some business loans are due after only a few years, but they can be refinanced into long-term debt once the business is established and has shown a history of payments on time.

Disadvantages of refinancing a loan

Disadvantages of refinancing a loan

Refinancing is not always a wise move. Even if you provide a lower interest rate or a lower monthly payment, it can be a mistake to get rid of your existing loans. Evaluate the benefits and benefits carefully before moving forward.

Transaction Costs: Refinancing can be expensive. Especially with loans such as home loans, you pay closing costs that can add thousands of dollars. You want to make sure that you get more rest even before you pay those costs. Other types of loans, including loans from online lenders, may include processing and origination costs.

Higher Interest Costs: Refinancing can backfire. When you pay off over a longer period of time, you pay more interest on your debt. You may enjoy lower monthly payments, but this can be offset by higher living costs of borrowing. Run some numbers to see how much it really refinances for you. Accelerate loan amortization to see how your interest costs change with different loans.

Lost Benefits: Some loans have useful features that will be eliminated if you refinance. For example, student loans are more flexible than private student loans if you fall into difficult times. Plus, loans can be forgiven if your career involves public service. Also, keeping a fixed rate loan can be ideal if interest rates are accelerating – even though you are temporarily getting a lower rate with a variable rate loan.

Alternatives to High Interest Loans

It costs money to borrow money, but it doesn’t necessarily cost much. When you get a loan, the key is to manage your interest rates and processing fees, and you can usually do this by getting the selective type of loan you use.

If you are faced with a high-interest rate debt (whether you have already obtained it or it seems like the only option available), look at the less expensive ways to get the money you need.

Reducing your borrowing costs means that your payments do more to reduce your debt burden.

Signature loans

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Personal loans are traditional loans from a bank or credit union. These loans are typically cheaper than credit cards, loans and per diems. They come with a relatively low-interest rate, and that rate often stays fixed throughout the life of your loan – so you’re unlikely to get into “teasers” or be surprised by an increase in payments.

Processing fees should also be low or nonexistent (assuming you use a bank or credit union, as opposed to a payday store); everything you pay for is baked at an interest rate.

With a personal loan, you will borrow everything you need to pay off your other obligations in one lump sum. Then make regular monthly installments of payments until the loan is paid off (for example, every three or five years).

With each monthly payment, a portion of the payment leads to a reduction in the principal amount of the loan, with the remainder covering interest expenses (also called amortization).

What if you make some money? That’s perfect. You can usually repay the loan at any time without penalty.

To qualify for a personal loan, you need decent credit and sufficient income to repay the loan. But you don’t have to pledge collateral – you just have to promise to repay, which is why these are sometimes known as “signature” loans.

Loans from person to person

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P2P loans are a variation on personal loans. Instead of borrowing from a bank or credit union, you can try to borrow from other individuals. These individuals may be friends and families, or they might be complete strangers willing to visit through P2P websites.

Sometimes P2P loans are easier to qualify for if you have less than perfect credit or irregular income (of course, it only makes sense to borrow if you are sure you will be able to repay).

Especially with friends and family, your finances may not matter, but it’s still a good idea to protect your “lender” and your relationships. Put everything into writing so there are no surprises and secure large loans (such as home loans) with a pledge in case something happens to you.

Balance transfers

If you have good credit, you may be able to borrow at low teaser rates by reaping the benefits of a balancing offer. This may require opening a new credit card account, or you may receive a benefit check from your existing accounts that allow you to borrow at 0% APR for six months or so.

Balance transfers can work well when you know that the loan will be short-lived. However, it is difficult to predict the future and you may end up maintaining that loan beyond promotional times – and then that “free money” will turn into high-interest rate debt.

Using balance transfers offers confidentiality, and pay attention to fees that can erase all benefits.

Home Equity

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If you have enough equity in your home, you can try to borrow your own home. Other mortgages often come with relatively low-interest rates (again, compared to credit cards and other consumer loans), but they are far from perfect.

The main problem with home equity loans is that you run the risk of losing your home: if you fail to make payments as agreed, your lender will potentially force you and sell your home.

In many cases, this is not a risk worth taking – it is better to use “unsecured” loans such as the loans mentioned above. What’s more, you will have to pay closing costs to get a home equity loan, and these costs can add up to thousands of dollars.

Problem qualification?

Deciding on the right loan for your needs is easy – getting approved is the hard part.

So what do you do if you can’t get credit?

Go smaller: You may be lucky in smaller institutions. Credit unions and local banks will continue to look at your credit and income but might be more flexible than megabanks.

Collateral: If you do not have enough income and funds to qualify for a loan, do you have any assets? You may be able to use these funds as collateral and obtain credit for the loan.

Work with traditional banks and credit unions, if possible, and use in-store financing only as a last resort. At a bank or credit union, you may be able to pledge savings accounts, CDs and other financial accounts as collateral.

Partners: A co-worker can also help you qualify. If you know someone with good credit and a decent income, lenders can use that person’s credit and income to approve a loan.

However, you are putting your signer at a difficult point – if you do not pay for whatever reason, the lender will expect your signer to repay everything you have borrowed, including fees and interest. It is important for your signer to understand the risk and understand how generous it is for someone to work with you.

Looking forward

To avoid debt in the future, strengthen your financial position

  • Build credit so it is easier to borrow on attractive terms
  • Keep an emergency fund so you can pay cash in time of need
  • Plan your spending to save money and pay off debt every month

Fast and secure online credits

 

You need money? If the answer is affirmative, it will surely also entail a certain amount of haste, either to face an economic predicament, or to fulfill a dream that implies a certain outlay. For this reason, we are committed to simplifying the procedures to what is strictly necessary, but also to speeding them up to the maximum so that you have your money right when you need it, with all the guarantees.

Features of fast and secure online credits

Features of fast and secure online credits

For us, it is crucial that you have the money you need when you really need it. For this reason, we streamline all the procedures as much as possible to give you an answer as soon as possible and, since we approved your request, the money arrives in just 15 minutes. Also, the process is not only fast, but also very simple. We have implemented a most intuitive web form for you to send us the documentation we need in order to study your case.

Added to all of the above is extraordinary flexibility: you have the possibility of returning your credit online within a period of 61 days to 36 months. From the first moment you will know how much you have to pay and, if a particularly difficult month arrives, you can request a break as long as you have already paid six installments. In addition, if you do not need to use all the money we grant you, you will pay interest only for the amount you withdraw instead of the full amount, and if you return the loan before the end of the assigned term, you will have the total available again of your line of credit in case you need it again at any given time.

Is it safe to borrow online?

Is it safe to borrow online?

For us, one of the most important aspects of the entire credit management and granting process is security. For this reason, despite the fact that we are aware that in other entities it is possible to process the request for a credit by phone, we have preferred to devote all our efforts to an online platform equipped with cutting-edge technologies that allow us to maintain the security and confidentiality of your data. at all times.

Also, the fact of processing the application online allows us to have the documentation immediately, since it comes to us through the web form as soon as you send it to us, so that we can get down to work to study your financial situation and give you an answer without delaying the process unnecessarily. That said, we also know that hearing a voice on the other end of the phone line is very reassuring when you have a question; therefore, you can call our customer service team and ask them what you need in relation to the status of your request or your credit.

Fast and safe money: when to apply for a credit online?

Fast and safe money: when to apply for a credit online?

It is already known that unforeseen events arise suddenly, but their capacity to destabilize our budget increases when we do not have a small cushion of savings to deal with them. In these cases, it is not only essential to get the money, but to do it as soon as possible. Imagine that your air conditioning breaks when the heat is on, or that your car decides to withdraw without notice and you have no way of getting to work without it. Or maybe you have suffered a small mishap that requires the services of the dentist and your health insurance does not cover them. It may also be the case that your favorite group or show announces a tour in the country and you already know that only the fastest get the best tickets. Whatever your specific case,

Urgent loan – what you should know?

 

 

There are moments in life when unique occasions arise that you cannot miss. Invest in a viable and safe business, go to your best friend’s wedding abroad, attend that international festival where legendary bands will perform or give the ticket for the car of your dreams. Whatever your project, we know how important it is to have money quickly to make the most of these opportunities; therefore, we offer you the possibility of requesting a credit of loan that you can return in up to 36 months and for which we will not charge you management or cancellation fees.

I need loan urgently: how can I get them?

I need loan urgently: how can I get them?

After months and months of waiting, your dealer finally launches a unique promotion, but you don’t have any money saved for the entry of the car; Your kitchen needs a reform, but the budget that the contractor has given you exceeds what you had calculated; It is time to take that family trip that you had promised to the children, when your company announces that this year there will be no extra Christmas pay. Whatever the situation, the scenario is always the same: “I need loan urgently, but I don’t have enough liquidity.”

Personal loans can be an interesting solution to economic unforeseen events. You can request a fast personal credit with all the guarantees and maximum comfort. In addition, you will know from the first moment how much you will have to pay each month and you will have a team of professionals who will help you throughout the process. 

Can I get the loan in cash?

Can I get the loan in cash?

Yes, our main objective is to avoid headaches and that you can get the money you need just when you want it, without having to spend time or energy solving tedious bureaucratic procedures. Therefore, once your application is accepted, you will receive the money in the current account that you have provided us in less than fifteen minutes.

If you are of legal age, to access loan in cash you just have to enter our website and fill out a very simple and intuitive form. Along with the application you must submit the following documentation:

  • Valid ID or passport that certifies your residence in the country.
  • A selfi to confirm your identity.
  • Bank account number in the country in which to deposit the money.
  • Bank receipt that proves the income you receive.
  • Mobile number so that we can send you an SMS with the contract and keep you updated on the status of your credit.

As you can see, the entire process is carried out online to streamline the process and to start studying your request almost instantly.

How to calculate the repayment fee of a loan?

How to calculate the repayment fee of a credit of loan?

You will find a practical personal credit simulator in which you can enter the amount you want to request (credit loan) and the period in which you want to return it. Our calculator, equipped with the most advanced fintech technology, will show you an approximate figure to repay the loan.

However, to know what the final monthly payment is, you must send us the documentation mentioned above. This will allow us to know your financial situation at the time of the application and, in this way, we will be able to adjust the loan conditions to your personal circumstances.

You have a term of up to 36 months to return the amount borrowed and, in addition, in no case will we apply commissions for opening, management or cancellation (partial or total). Do not hesitate and ask us, we manage your personalized credit instantly.

Loans: the money for you

Sometimes there are times when it would be great to have a cash injection, especially if we have to face a situation that we did not expect and that requires an outlay that does not catch us at our most buoyant moment. In situations like that, resorting to quick credit may be the most suitable solution: we offer you the possibility of requesting not only loans of 2,000 dollars instantly, but up to 5,000, which you can comfortably repay in 36 months.

I need loan urgently! Where can I get them?

I need loan urgently! Where can I get them?

There are several options to get the financing you need: from charging the amount on your credit card to requesting a loan from your bank, going through financial entities that carry out the procedures by phone or online, or even companies where you can use your car collateral. The alternatives are numerous, but it is not always possible to choose all of them, either because the limit of your card may not cover the amount you need or you are not interested in the conditions, or because your bank does not seem to do the job of providing you with the financing that you request without posing as countless bureaucratic procedures that greatly slow down the process, either for other reasons (such as not having a guarantee or payroll). You should study which option is best for you.

If you decide to bet on us, you will know that our hallmark is simplicity. We are aware that when you need money, having it as soon as possible saves you a lot of headaches. Therefore, we strive to ensure that the amount awarded reaches your bank account in the shortest possible time. You can request loan online through our website: we have integrated a practical form in which you can attach the necessary documentation so that we can study your case immediately and give you an answer as soon as possible.

Characteristics of loans

Characteristics of loans

Loan can be used for many things: a second-hand car that takes you to work because yours has decided to abandon you in an inappropriate way; A well-deserved family vacation that you have to pay now or will go up in price, a computer to work that can really last you a long time without giving you headaches, you can request this amount even from your mobile phone, with all the guarantees of transparency and security, and with maximum comfort for you, to then return it in up to 36 months.

Can anyone access a credit of loan?

Can anyone access a credit of loan?

we only put three fundamental conditions: the first, you must be of legal age to apply for one of our credits. The second, you must have demonstrable monthly income (not necessarily payroll or pension; if you receive a benefit or are self-employed, contact us equally) and, finally, you will not be able to appear in any list of defaulters.

We know that other entities grant loans even if one of these conditions is not met, but for us your satisfaction is as important as our own honesty. Therefore, all our processes are governed according to the principles of responsible lending, so that we will offer you only the amount and conditions that are most in line with your financial situation. we are very concerned that all efforts are flexible and transparent.