hallsnostalgia.com http://www.hallsnostalgia.com My WordPress Blog Sat, 13 Apr 2019 10:25:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.2.1 Immediate Credit Online Without Supporting Documents http://www.hallsnostalgia.com/immediate-credit-online-without-supporting-documents/ http://www.hallsnostalgia.com/immediate-credit-online-without-supporting-documents/#respond Sat, 13 Apr 2019 10:25:16 +0000 http://www.hallsnostalgia.com/immediate-credit-online-without-supporting-documents/

 

An emergency situation rarely leaves time for reflection and does not always make the right choices. If you are looking for immediate credit, know that this is an important act that requires comparing different offers online .

Attention to money reserves

For the most part, personal loans make it possible to obtain financing without justifying the destination of the funds. We advise you to avoid revolving loans that are particularly expensive and opt for depreciable loans.

Compare the APR

Compare the APR

The law requires credit institutions to post the annual percentage rate of charge ( APR ). This rate includes all the elements that come into the calculation of the cost, namely the interest rate, the fees and the insurance premiums. It is the only reliable comparator.

 

The different offers

 

The traditional banking network

The first step is to consult your bank. If you are already a client, it will be easier to assemble the file, as you will not have to provide certain documents such as bank statements or proof of salary.

If your cash requirement is less than 1000 euros, it may be easier to apply for a credit limit. Your request can be processed in 24 hours , but the cost will be higher. Be aware that the rate of agios can be negotiated.

If you are in a difficult financial situation, discuss it with your advisor and see what different credit alternatives are.

If you are not yet a customer, it will be more difficult to obtain immediate credit because you will have to build a complete file. On the other hand, know that you will probably be forced to change banks . In any case, if you are in a complicated financial situation, it is very likely that you are facing a refusal of loan.

Banks online

Banks online

This is probably where you will find the solution. Reactive and effective, online lending organizations offer immediate financing solutions that will allow you to use the funds as you see fit and immediately provide an answer in principle . Counterparty: the rates are very high.

 

The main actors

Most online credit players are backed by large banking groups. A dozen players share the market, which will be more than enough to compete . In addition to these lending institutions, brokers and other comparators offer their services. We advise you to compare the proposals of the websites of the credit companies and make a request on the main national brokers. The tools are very easy to use and you only have a few minutes to submit an application .

Cofidis

The fifth largest player in consumer credit with 4.5 billion in progress (in 2009) and 1,600 employees, COFIDIS offers its financing solutions online, but also through a network of partner brands.

SOFINCO

SOFINCO is a subsidiary of Crédit Agricole. In 2010, it became Crédit Agricole Consumer Finance. At the same time, SOFINCO merges with FINAREF, another subsidiary of the group and becomes the European leader in consumer credit

COFINOGA

Specialized in consumer credit since 1968, COFINOGA is the brand of the Laser Group, belonging to Galeries Lafayette.

GE MONEYBANK

The subsidiary of the General Electric Group remains one of the leaders in retail lending. It is present in France through a network of retail partners and about forty agencies.

Cetelem

Subsidiary of the banking group, BNP Paribas, CETELEM or BNP Personal Finance is a key player in consumer lending for individuals, but also the mortgage.

FINADEA

Subsidiary of CGL (Compagnie Générale de Location d’Équipements), a financial institution created in 1951, Finadea offers consumer and real estate loans.

MEDIATIS

Created in 1998, Médiatis is part of the LaSer group, whose capital is held equally by Galeries Lafayette and BNP Paribas

Table of instant credit offers online

banks Minimum amount Maximum amount Deadline for a principle answer APR Requested proof?
Cofidis 500 € 35 000 € Immediate online

Personal loan: 2.92% over 12 months

9.12% out of 84 months

YES
Sofinco 150 € 40 000 € Immediate online

Personal loan: 2.90% over 12 months

7,95% out of 84 months

YES
Cofinoga 500 € € 21,500 Immediate online

Project loan other than car or works: 3.50% over 12 months

7.50% over 60 months

YES
Cetelem 500 € 75 000 € Immediate online

Loan other projects: 2.90% over 12 months

7.50% over 60 months

YES
Finadea 3000 € € 30,000 (Not given immediately, but by phone by a counselor)

Not disclosed

Unspecified

The supporting documents to be produced

There is a real confusion about the receipts to be produced at the bank . Getting credit in the shortest possible time does not mean no checks. While you do not have to justify the destination of the funds, the bank does need some elements to provide the loan and can not rely on a simple statement.

The supporting documents that you will be asked for are the same as those used for the risk analysis of any loan taken out in an agency. This is why the release of the funds will not be done in 24 hours . Count at best a few days.

  • Double-sided copy of the identity card
  • Copy of the latest payslips (one to three depending on the organization)
  • Copy of the latest tax notice
  • Bank details
  • Proof of address
  • Check canceled
  • If assigned loan: proof of purchase (purchase order or quote)
  • Property tax if owner
  • Bank statements

 

The essential points of the regulations in force

The essential points of the regulations in force

Recent reforms have strengthened the regulatory framework for consumer loans. Law No. 2010-737 of 1 July 2010 (Lagarde Law) aimed to better protect borrowers against the risk of over-indebtedness .

It introduces the notion of Global Annual Effective Rate (APR) which must appear on all offers, and moreover in characters of the same size as the promotional interest rate (thus ending the important inscriptions in illegible characters at the bottom of page). In addition, all advertising must be illustrated with an encrypted example.

You have probably already noticed this little sentence full of common sense: “a credit commits you and must be repaid …” The 2010 law requires the banks and other specialized institutions to include it on all their advertising.

You should also know that the Act requires lender organizations to consult the Personal Loans Repayment Incident File. Thus, if you are registered FICP , you have every chance to see you signified a refusal.

The revolving loans have been the subject of a greater protection, particularly in terms of information, particularly with the Hamon Law of March 17, 2014 .

Finally, faced with the growth of over-indebtedness situations, the Act has reduced the registration period for the FICP from 15 to 8 years and now, in the event of an admissible file, all the procedures in progress are stopped.

 

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Credit Consumption without Evidence Online At the Best Rate http://www.hallsnostalgia.com/credit-consumption-without-evidence-online-at-the-best-rate/ http://www.hallsnostalgia.com/credit-consumption-without-evidence-online-at-the-best-rate/#respond Mon, 25 Mar 2019 10:11:21 +0000 http://www.hallsnostalgia.com/credit-consumption-without-evidence-online-at-the-best-rate/

Definition

 Definition

A consumer credit is a loan intended for the purchase of current goods and equipment, for non-professional use. The capital borrowed is therefore generally lower than for a mortgage.

To benefit from the regulations on consumption credits, the loan must be of an amount less than or equal to € 75,000 and a duration greater than 3 months.

Its duration does not generally exceed 7 to 8 years.

Although obtaining a consumer credit is easier than a home loan, it is still normally subject to the 33% debt rule, although many institutions exceed this rate when income permits.

An advance credit offer must be given to you and include the following documents:

  • The name and address of the lender;
  • Your name and address (possibly those of the deposit);
  • The good or service purchased and its cash price;
  • The conditions of the loan, that is to say: the amount, the interest rate, the duration, the number and the amount of the installments (monthly payments), the total cost.

Simulation of your credit consumption using our calculators

  • What is your borrowing capacity?
  • If you know the monthly payment, which loan can you claim?
  • How much will your loan cost you?

A credit offer is valid for 15 days from the date of writing. From the moment you sign the loan offer, you have 7 days to retract .

For this you just need to return the withdrawal slip. If the 7th day is a Saturday, a Sunday or a holiday, you can still send your mail on Monday or the day after the holiday.

Sending must be by registered mail with acknowledgment of receipt.

The LAGARDE reform

The LAGARDE reform

The LAGARDE reform on consumer credit aims primarily to improve information to borrowers. With regard to revolving or permanent loans, the lending organization is now obliged to propose an alternative with a depreciable loan .

A preliminary offer of loan is presented in these terms.

Auto loan offer at the Annual Fixed Annual Effective Rate (APR) of 6.22% with optional insurance of € 3 per month, for a borrowed amount of € 12,000 over a 36-month repayment period and a monthly payment of 362, € 35 excluding insurance, for a total cost of € 1152.63 including € 108 insurance .

It is also interesting to know the evolution of the value of the good that one acquires and to verify that its possible resale is enough to pay the consumer credit.

The different consumer credits

Immediate credit

Bank offers and other comparators offer immediate credit without proof, often available online in 24 hours. But whether you want to satisfy a compulsive purchase or that your financial situation requires urgent action, follow our advice to avoid the many pitfalls that await you.

  • All about immediate credit

Borrow between individuals

Until now the offers of loans between individuals presented a fairly significant risk in view of the many traps set by crooks of all kinds, facilitated by the arrival of the Internet. Recently with the arrival of Prêt-d’Union, the loan between individuals has secured. It is the only body authorized by the Prudential Supervisory Authority. The praise given by the financial press and the solid shareholders (Crédit Mutuel, AG2R la Mondiale …) make it a serious interlocutor.

Our pages on the same theme

  • The revolving credit
  • The pitfalls of permanent credit
  • Ready for senior

 

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Enter the Case of Refusal of Loan http://www.hallsnostalgia.com/enter-the-case-of-refusal-of-loan/ http://www.hallsnostalgia.com/enter-the-case-of-refusal-of-loan/#respond Fri, 08 Mar 2019 11:07:13 +0000 http://www.hallsnostalgia.com/enter-the-case-of-refusal-of-loan/

 

Know first that banks are free to grant or refuse to lend money and they have no obligation to provide explanations and notify the CNIL in case of refusal of loan will not allow therefore to know the reason that motivated the decision of the bank .

 

How to obtain the grounds for refusal?

The decision must be based on an objective risk analysis that scrutinizes all elements of the file: financial, heritage and professional. The result is in principle in the form of a score that motivates the decision and allows the bank analyst to say or not.

Ask your bank advisor

Ask your bank advisor

Before going to the CNIL, start by asking your banker and ask him in detail the reasons for his refusal . If you think your case deserves a different outcome, ask for an appointment and see if the problematic item can be improved.

If your application has been scored or rated, ask for the results obtained on your file.

The law gives you a right of access . Exercise it by writing to the bank to send you in writing the notes obtained in the study of your credit report as well as any comments that have been annotated.

If you have been FICP listed and the Bank of France has just deleted your name, it is possible that your banker has not yet received the information. Indeed, it is transmitted to all credit organizations once a month. In this case, ask the Banque de France to provide proof of your cancellation .

Good to know: in the event of a refusal of a guarantee by Crédit Logement, you must contact your banker, the agreements between the bank and the surety company do not authorize the latter to explain to you the reasons for the refusal of guarantee .

Get help

 

That it is clear, the CNIL will not intervene to settle a dispute with your banker or even to assist you to obtain compensation. Its role is limited to requiring the bank to inform you about your risk score or score (1) when they have been established and to interview the Bank of France to verify if you are registered.

For this you must send a letter to the complaints department of the CNIL at the following address: 8, rue Vivienne CS 30223 75083 Paris Cedex 02 or directly on the site (see the link at the end of the article).

A few words on the CNIL

A few words on the CNIL

It is the Law of January 6, 1978, which established the National Commission for Computing and Freedoms in order to allow consumers to protect themselves against the misuse of computer files .

Every company has the obligation to declare all computer files containing personal data of its customers.

Its control mission allows it to intervene at the request of a borrower from a bank that refuses to provide the required information on the scores or scores awarded during the analysis of the file.

What are the grounds for refusal?

What are the grounds for refusal?

There are many reasons for a bank to refuse a loan and each case is unique. On the other hand, know that the risk analysis is global. Sometimes there is no specific reason , but rather a general situation that leads the bank to consider that your application carries a credit risk too high.

For example, despite a debt ratio of less than 33%, a stable situation and good bank accounts, the bank refuses on the grounds that your remaining income is insufficient to cover other household expenses.

 

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Professional Microcredit: Definition and Functioning http://www.hallsnostalgia.com/professional-microcredit-definition-and-functioning/ http://www.hallsnostalgia.com/professional-microcredit-definition-and-functioning/#respond Mon, 11 Feb 2019 10:56:42 +0000 http://www.hallsnostalgia.com/professional-microcredit-definition-and-functioning/

 

 

 

The microcredit activity is part of the broader microfinance framework that includes other financial services such as insurance or savings. It allows a population excluded from the banking system to benefit from loans of generally small amounts .

In addition to operations intended to finance the creation of a business, social microcredit, as proposed by the Red Cross, is mainly used to help people in situations of great precariousness.

The reasons for the bank exclusion

The reasons for the bank exclusion

While many microentrepreneurs find it difficult to finance their professional activity with the traditional banking network and too often face funding refusals, it is primarily because the latter considers that the risk is too great .

On the one hand, the bank considers that business contingencies are more important for a new company and, on the other hand, that at the start-up stage, it lacks visibility on the sustainability of the business.

 

This situation is even more glaring in poor countries where the means of control are sometimes non-existent and there is often no accounting register to assess the risk.

Historical

For those who do not know the origins of microcredit, the story of MUHAMMAD YUNNUS deserves to be told. In the sixties, this young Pakistani student in the United States. Back in Bangladesh in 1972, he first taught economics at a university in the country.

It was then that he met a woman whose business was to make bamboo chairs. It was forced every day to borrow from a usurer the amount needed to buy the raw material it needed. The chairs were then resold to his lender for a profit of barely two cents a day. Muhammad Yunnus then realizes that the whole economy of the village lives in this way.

He then decides to lend all the women of the village the necessary sum, without interest . The result was immediate. The daily profit finally allows them to live with dignity. Thanks on the one hand to the economy realized on the interests that they do not have anymore to pay to their lender, but mainly because they are free to sell their production on the markets at a cheaper price than they do not sold it to the usurer. The microcredit was born.

The Grameen Bank

In 1977, with the help of a banker friend and his students. MUHAM® YUNNUS then decides to create a bank in his village. The Grameen Bank will soon spread to the whole region and then to the whole country. Today it has 7 million customers, employs 24,000 people and its model has spread to all emerging countries of the planet.

In May 2011, 70-year-old Muhammad Yunnus, in conflict with the Bangladeshi government’s 25 percent stake in the bank, was forced to resign.

The United Nations has declared 2005 the international year of microcredit , proving that the activity is now an instrument to fight against exclusions.

 

The Role of Associations

 

Microcredit associations are at the heart of the system. These are most often non-governmental organizations (NGOs) that rely on partnerships with the traditional banking network, but also public authorities across the state and local communities.

Banks benefit from a network of analysis and monitoring of loan applications that allow them to make significant savings and better understand the risk.

To date, there are about 10,000 institutions serving 120 million customers worldwide. In France, the number and importance of the associations involved in this type of financing show how dynamic this activity is, but also that it has finally found its social and economic benchmarks.

ADIE

Maria NOWAK, who initiated micro-credit in France, founded ADIE in 1989. The association currently handles between 10,000 and 13,000 cases per year through 130 agencies. It has been recognized as a public utility since 2005 and supports micro-entrepreneurs excluded from the traditional banking network.

But the work of the 450 employees of the association and 1700 volunteers is not limited to analyzing the file and to transmit it to the bank. It also involves providing advice and monitoring micro-entrepreneurs. This role is essential to give maximum chance to the success of projects. It is part of the European Microfinance Network.

France Active

Created a little over twenty years ago, the France Active association is chaired by Christian SAUTTER. It works with people in difficulty, wanting to create their own business and usually excluded from the banking network.

But, like ADIE, its role is not limited to transmitting loan files. It offers support and follow-up capable of giving every opportunity to the project of the entrepreneur. It operates through a network of about forty “territorial funds” with 500 advisers and more than 2000 volunteers. It benefits from the support of the State and the local authorities, but also from the Caisse de Dépôts et Consignations.

 

The nave

Created in 1988, La Nef presents itself as a solidarity finance cooperative. It also develops a solidarity savings activity and benefits from the approval of the Banque de France, which allows it to directly grant loans to micro-entrepreneurs and associations. With its 31,000 members, La Nef plays a important role in microfinance in France. It is part of the European Federation of Finance and Ethical Banks and Alternatives and participates in the establishment of an Ethical Bank at European level.

France Initiative

The France Initiative association is present throughout France through 230 structures. With a very large network of volunteers (more than 14,000), she brings her expertise and support to entrepreneurs who are excluded from the banking system. Chaired by Louis SCHWEITZER, she has forged strong partnerships with local communities . Each local platform enjoys a real independence and is federated within the association.

Some organizations, such as the Red Cross, offer a social microcredit, that is to say a personal loan, of up to 3,000 euros. It is mainly intended to help people in precarious situations.

 

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