Categories
Uncategorized

Fidelity helps employees with student loans.

Fidelity Helps Employees With Student Loans

Fidelity Helps Employees With Student Loans

Fidelity Investments has joined a small but growing group of employers who help workers pay off their student loan debt.  The financial services company formally announced this new employee benefit on Tuesday. This is his newly expanded maternity and paternity leave program.

The Fidelity Step ofhead Student Loan Assistance program, as it is officially called, grants $ 2,000 to student loans for eligible employees each year, up to a total of $ 10,000. According to Tuesday’s announcement, the benefit is paid through an external provider, Tuition.io. Payment will be made in monthly installments sent to student loan providers of employees.

Fidelity Has An Employee Assistance Program

Fidelity Has An Employee Assistance Program

The assistance program also gives employees access to various online tools. Which are intended to help you better manage your student loan debt. This according to the “Work / Life Programs” page of Fidelity.

Jennifer Hanson, director of associate experience and benefits at Fidelity, said in a press release that the US student loan debt now amounts to more than $ 1 billion. She continues explaining:

“Our employees and their managers told us that student loan debt caused them problems. For example, he forced them to postpone important life decisions, such as buying a house and having a child. As a financial services company, this was really worrying for us. We believe that providing a benefit such as student loan repayment assistance is favorable. This helps us address a very real financial concern that directly affects our employees. ”

What does the Fidelity Program really consist of?

What does the Fidelity Program really consist of?

The program is open to employees who have been at work for at least six months and is not linked to retention. That means that employees do not have to return the money to Fidelity if they leave the company.

It was launched in January and almost 5,000 employees began receiving the benefit in the first weeks of the program.

Fidelity also announced the expansion of two other benefits:  The paid maternity leave has been increased from six weeks to 16 weeks, which provides benefits to all mothers during the first months of giving birth.  The parental leave has been extended from two weeks to six weeks, also providing countless benefits.

What do you think of this news? Do you think that employee benefits, such as the Fidelity student loan assistance program, can affect the burden of students’ national debt? The opinion of people is very important for these companies. This is why you can express your comment through any of their social networks and let them know what you think. Remember that the customer is the most important thing for companies.

Categories
Uncategorized

Creditworthiness – what is it and how to check it?

 

Sometimes there is a moment in life when we will need to make a decision to take a loan, even for an apartment or a new car, or for general renovation. This is a good decision, but remember to take care of your creditworthiness, because without it the path to credit will be impossible. And what it is and how to build it, you will learn from the article below.

What is creditworthiness

What is creditworthiness

There is a lot to talk about creditworthiness because it has many factors. Most of them are influenced by the future borrower. Being aware of the importance of this aspect, we can try to care for its quality in order to achieve, if necessary, the goal of taking a loan.

So what is this ability?

banking law defines this concept as the borrower’s ability to repay the loan on specific payment dates. Of course, there are two components involved: both capital and interest. The more you should take the topic seriously. Therefore, before the bank agrees to grant a loan, it will subject the potential borrower to a credit analysis. This is a time-consuming procedure, requiring the collection of many documents that the customer must provide to the bank where he wants to take out a loan. Then it undergoes the process of assessing creditworthiness. Then be patient and wait for the result.

Can anyone apply for a loan, even without the ability?

Can anyone apply for a loan, even without the ability?

Banks have their own methods of testing creditworthiness. They may be slightly different in each bank, which is why some applicants for loans apply at several banks at the same time, knowing that they may not meet certain criteria and thus their loan application will be rejected.

However, there are situations (extremely rare) when a bank may grant a loan to a non-compliant person, but you must then present a plan to remedy the financial situation, whether in the company or in the household. These are incidental situations and we should not count on them trying.

Therefore, for many people the ideal and the only solution may be to use a loan on the website, where on simple terms, even when credit standing is an obstacle, you will be able to take a loan quickly and conveniently, and in addition completely online, meeting the minimum of formalities.

How to calculate your creditworthiness?

How to calculate your creditworthiness?

There are many ways to calculate what your creditworthiness looks like in a particular case. We can try to calculate it ourselves, or use various calculators on the Internet, or go to a specific bank and ask for help in this regard. It will be more complicated especially with mortgages for a house, flat or real estate. So what is considered?

  • savings – from 10-20%, good when they are, because they will significantly increase our credit standing.
  • amount of monthly earnings
  • the amount of monthly expenses (let’s calculate the fixed and add to this the margin for additional, unforeseen costs)
  • finally, look at the difference between income and costs.

What affects creditworthiness?

What affects creditworthiness?

It should also be remembered that there are many aspects that we can influence ourselves. If we manage to do it well, we will hand over our loan application to the bank without any problems and stress and it will certainly be positively assessed.

Well, the ability is affected primarily by:

  • arrears in repayment of obligations – even a short exceeding of the deadline is already a default in the contract and will be taken into account in the credit analysis. And because it will be visible in BIK (Credit Information Bureau), it will unfortunately affect our credibility
  • lack of permanent sources of income – if we do not have a permanent job, the income of which can be documented, this is a reason to worry, unfortunately.
  • lack of savings can also be taken into account and sometimes tip the balance against creditworthiness.

Reasons for refusing a loan.

Reasons for refusing a loan.

We have already mentioned it above, but let us analyze it deeper.

Most loans are refused due to lack of creditworthiness.

The second point is that customers often don’t have the minimum credit knowledge they want to apply for. Then time increases and generates a lot of problems.

Among other things, it may cause a decrease in creditworthiness, as each application for a loan submitted by the Customer is reported by the bank to the Credit Information Bureau. Therefore, it is not irrelevant whether we will fulfill the formalities correctly or not.

The lack of a permanent job, which we can document in the form of real documents confirming our income, also makes us unbelievable.

So let’s take care of all these issues sooner and certainly our creditworthiness will be at an appropriate level.

Categories
Uncategorized

Loan without credit bureau

 

Explanation for credit without credit bureau:

Explanation for credit without credit bureau:

Loans without credit bureau are also known as Swiss loans or as credit bureau-free loans. This is understood to mean the granting of a loan, ie credit despite a negative credit bureau, even if there is a negative credit bureau entry.

credit bureau is the protection association for general credit protection. It is a private credit agency that is supported by the lending industry. If a borrower does not meet his payment obligations with one of the affiliated companies, a negative entry is made in the credit bureau database and the consumer has considerable problems getting a loan, leasing contract or other payment agreement.

Our offer for credit without credit bureau applies here. These are processed through foreign banks, outside the sphere of activity of the German credit bureau. We also have the dein-kredit-ohne-credit bureau.de website. You can also apply for a loan without credit bureau here.

The loan amount for a loan without credit bureau has increased considerably in the past 20 years. Before the introduction of the USD in Germany, the payment amount for a loan without credit bureau was DM 4,500. With the introduction of the USD in 2002, the payment amount for the loan without credit bureau was increased to $ 2,425. On July 1, 2002, the loan without credit bureau came to the German market with a loan amount of $ 3,500.This payment amount is still valid today. However, another variant was introduced on January 1, 2012. Since this date, the loan without credit bureau has also been available with a loan amount of $ 5,000.However, somewhat stricter guidelines apply here for the granting of the loan. The customer must be employed by the current employer for at least 3 years, and as a single person he must earn at least 1,600 USD net.

NEW – SINCE July 1st, 2016

NEW - SINCE July 1st, 2016

Since that date, the loan without credit bureau has also been available with a loan amount of $ 7,500.However, somewhat stricter guidelines apply here for the granting of the loan. Our trained staff will be happy to advise you on the possible loan amount after you have submitted your application.

The requirements for a loan without credit bureau are:

The requirements for a loan without credit bureau are:

Since the bank does not query credit bureau for a loan without credit bureau, several key points are taken into account. You should check the following requirements so that we can help you get a loan without credit bureau.

  • Lending is made to workers, civil servants, clerks and workers
  • No lending without credit bureau to pensioners, the unemployed and the self-employed
  • German nationality
  • No existing garnishment or cession
  • Minimum monthly income of 1,150 USD for single people
  • Maximum age at lending 62 years
  • Resident in Germany
Categories
Uncategorized

Inquire about your annuity loan

Annuity

Annuity

To get started with annuity loans, I would like to give you a brief overview. Today, let’s take a closer look at the annuity loan, as it can be called. It should help you to be more familiar with the topic. Among other things, dealing with the costs, getting to know the application options and knowing the conditions when a loan can be granted and when not. There is also an insight into the possible uses and terms of the annuity loan. After reading the text, you can better imagine the matter of the annuity loan.

What is an annuity loan anyway?

What is an annuity loan anyway?

An annuity loan is a special form of loan in which the borrower repays a certain loan amount to the bank at fixed intervals at fixed rates. These gaps are usually monthly loan installments, but can also be paid annually. How the borrower prefers it and what exactly the bank offers. This specific loan amount can be chosen freely by the borrower, depending on how much he needs to buy. It is also important that any incidental costs or additional costs are included in the loan amount. Otherwise the money is missing in the end, but the loan has already been applied for.

What is special about this is the amount of the rate. This is the same every month, except, of course, at the very last installment. Here, the customer only has to pay back the outstanding balance, which is usually below the normal rate. Then the loan would be repaid in full. A loan installment consists of a repayment (this is the amount of the loan repayment, since the loan must of course also be repaid) and the interest (which is fixed in advance for a certain time). The annuity is calculated by adding interest and repayment. The interest is fixed over the fixed commitment period. Since the annuity (the exact amount that I have to pay to the bank as a borrower) is always the same, our loan form is also called annuity loan.

So if I diligently repay my loan in monthly installments, for example, my loan amount will get smaller and smaller. This means that if my annuity is always the same, my interest rate drops too. This is because the interest is always calculated from the loan amount still available. The redemption calculation is annuity minus the interest. This means that the repayment always increases over the course of the loan period. Of course, this is not noticeable for me as a borrower, because I simply pay the same rate back to my bank.

Categories
Uncategorized

Payday loans – what is worth knowing about it?

Short-term loans is the most important product of loan companies as well as commercial banks. However, the most payday loans are served by loan companies, especially popular on the Internet. What is the characteristics of payday loans and what is worth knowing about similar groups of liabilities in relation to the latest legal changes?

Basic information on short-term loans – payday loans

Basic information on short-term loans - payday loans

Payday loans is a short-term loan focused on one-off repayment with interest. The speed of settling the liability is one of the most important advantages of debt, because payday pay does not really make the household budget dependent, but gives you the chance to improve liquidity, e.g. while waiting for a transfer from your employer. The liquidity of withdrawals in Poland is at a very poor level. Typical delays are on average two or even three months depending on the industry, so payday pay is excellent support for similar households. Most payday loans have a deadline of 30-45 days with the option of extending the repayment period. This is a kind of security gate for borrowers who are not sure of their economic situation in the next few months. Payday loans is part of the standard of the Consumer Credit Act.

Current legal changes for payday loans beneficial for borrowers

Current legal changes for payday loans beneficial for borrowers

Loan companies grant payday loans in accordance with legal standards that have recently changed in favor of borrowers. Why? First of all, the legislator has limited the limits of additional costs in short-term loans agreements, which gives you the certainty of using a fair commitment. Nominal interest rates and non-interest costs are statutorily regulated issues to specific amounts. This increases the security of using similar forms of debt. Payday loans is a good tool in the hands of an economically responsible borrower. It is particularly profitable debt in the period of low interest rates.

Payday loans – Is it worth it?

Payday loans is a loan still dedicated to people with positive creditworthiness, and not to clients in difficult economic conditions. Positive changes in regulations have led to the purification of the industry and to a greater interest in payday loans.