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Beautiful twenty-year-olds in the clutches of payday loans, or why young people are indebted

The Credit Information Bureau has just summarized the trends in the loan industry for the period from October 2017 to September 2018. When reading this list, it is impossible not to notice one extremely clear trend: mass familiarization with the payday loans of 20-year- olds.

Why is this happening? I will try to explain this phenomenon of debt in payday loans from people who can barely drink beer legally.


Why do young people choose payday loans instead of bank loans?

Why do young people choose payday loans instead of bank loans?

There are several reasons. In addition, they mix with each other, creating a good environment for young people to enter the world of non-bank loans. The first reason is prosaic

1. It is easier to get instant cash than a loan

money loan

It is true. To get a loan from a bank, you must have a credit history or, in the absence of a loan, stable employment and regular remuneration transfers to your account (by the way for young people having trouble getting their first loan – a way to quickly build creditworthiness). Additionally – many young people can count on the junk contract at the first job. Which banks will not accept. And parabanks – by all means.

After all, it is not easy in a bank. Banks, as a rule, are afraid of young people, because they have their statistics, and they leave no illusions. Repayment and liability among the youngest customers is poor.

That is why a young person needs to get a little bit hard before he gets the first loan from the bank. And in the parabank? All you need is a proof, a smartphone and money lands on your account in 15 minutes. Which in addition – in the case of many companies – are borrowed for free (you have heard about payday loans for USD 0).

This one-time promotion is aimed at attracting new customers, but in many cases it ends with something that can be called straight


2. Addiction to payday loans, or why young people are indebted

payday loans

When the first payday is due, it turns out that the wallet is empty. After all, the borrowed USD 1500 spread quickly (young people have a light hand for money) and the term is chasing. What is being done then? He uses the simplest solution – he takes another free loan and pays the previous one.

Such a scheme is possible for a long period. Until there are no free loans on the market. There are several scenarios for the borrower’s future, one of them – which I will explain below – is falling into a loop of payday loans and a desperate cry: how to get out of non-bank debts?


Why is youth indebted?

teens debt

Hot young blood means hot needs and an even greater desire to meet them immediately. A new gadget, weekend outings, buying a car (a 20-year-old on a tram will not impress any girl in his opinion) – all this requires money. Of course, you can – just like in the days of your parents – go to work and postpone. But why? If you can have it all right away. Just take out your phone and apply for a loan. Somehow it pays off …


Parabanks use the lack of knowledge of young people

student loan

The average of the largest activity in taking the first non-bank loan is 21 years. If the subject of Personal Finance existed in high school, then even the biggest stuff would have the chance to code that a person without basic knowledge about the functioning of parabanks will be quickly shaven by, He would know what the APRC means and that taking a loan under which you get 10,000 and repays 23,000 is throwing away 13,000 dollars. And this donation is enshrined in the contract, after which you cannot say: the parabank has deceived me.

He did not cheat. He just shaved another loser.

APRC or Real Annual Interest Rate – in simple terms, the loan parameter acts as the officially determined measure of the cost of the loan. It allows direct and immediate comparison of offers from various banks, credit unions and non-bank loan institutions.

How many of the 27,000 young people who will be shaved in the last year – this BIK will not tell us. But judging by how many come for help for those in debt – this will not be a low percentage.

Student Loans: What They Are and How to Get Them

It is known that studying at university costs a lot. Italian families spend an average of 1345 dollars per year on taxes. Considering also accommodation, transport and books, it is possible to reach an outlay of almost 10 thousand dollars in the case of an off-site student. High figures, prohibitive for many families. Furthermore, scholarships are few: in Italy only 12% of students benefit from them. It is not surprising, therefore, that our country is in last place in Europe in the rate of transition from high school to university and first in terms of dropout rate.


Loans of honor for students: Features and Benefits

Loans of honor for students: Features and Benefits

Concrete help to finance our or our children’s university education can come from credit institutions. In fact, numerous banks have activated ad hoc “honor loans” for young people who want to study but do not have the means. These personal loans – usable for university fees, post-graduate masters, mobility, residence and training periods abroad – present advantageous conditions compared to other types of credit, in particular:

  • low interest rates and even very long time for repayment;
  • they do not require personal or third party property guarantees;
  • possibility to wait up to 2 years from the end of the studies, without further interest, before starting to repay.

Some of these honor loans are granted by merit, therefore a certain rate of studies must be maintained to avoid the interruption of the credit line.


The fund for the study

The fund for the study

Among the specific funding opportunities for university studies, we highlight the one offered by the “Study Fund” established at the Prime Minister’s Office – Department of Youth. It is a loan guaranteed by the state (in the measure of 70%) for a maximum amount of 25 thousand euro, for enrollment in the university, to attend post-graduate specialization courses or to deepen the knowledge of foreign languages.

Students aged between 18 and 40 who are in one of these conditions can apply for access to the fund:

  • be enrolled in a three-year or single-cycle degree course, in good standing with the payment of university fees and in possession of a high school diploma with a mark of at least 75/100;
  • be enrolled in a master’s degree program, in good standing with the payment of university fees and in possession of a three-year degree with a mark equal to at least 100/110;
  • be enrolled in a first or second level university Master’s Degree, in compliance with the payment of university fees and in possession of a bachelor’s or three-year degree, respectively, with a mark of at least 100/110;
  • be enrolled in a specialization course following the attainment of the single cycle master’s degree in medicine and surgery with a mark equal to at least 100/110 and in good standing with the payment of university fees;
  • be enrolled in a research doctorate abroad which, for recognition purposes in Italy, must have a three-year legal duration;
  • be enrolled in a language course lasting no less than six months, recognized by a “Certifying Body”.

The sums are paid in annual installments provided that at least half of the exams required by the study plan of the previous year have been passed. It is possible to repay the loan in a period varying between three and fifteen years and the repayment begins the thirtieth month after the disbursement of the last installment.

The way to fast financing with instant credit – Here’s how!

Financial bottlenecks due to unforeseen events or the desire for a larger car, new furniture sometimes come faster than you would like in life. You should try to solve these situations in a reasonable and uncomplicated manner. The behavior of lenders and borrowers has also changed in the course of economic and thus also financial change. In many cases, the earlier route to the bank branch can be omitted today.

Consumers rely on online loans

Consumers rely on online loans

Today, there are various online loans for individual consumer requests with immediate approval at attractive conditions. The advantage of these loans is their handling and service. Loans with instant approval can be calculated around the clock on seven days and taken out online.

Instant loans are offered in different variants, with fixed or flexible interest rates. Depending on the financial possibilities, the monthly rates of the borrower can be adjusted so that the credit rates correspond to the budget in order to minimize the risk of non-payment. Such credit inquiries are usually processed automatically. In the event of ambiguities, additional questions or ambiguities, the problems are resolved quickly and easily on the phone or by email.

Favorable conditions through cost savings

Favorable conditions through cost savings

Online sales not only bring benefits in terms of service, but also credit terms. The online institutes can also grant loans with an immediate commitment at attractive conditions so cheaply because they do not need a branch network in online trading, which can be very expensive to maintain. As a result, many online loans are granted at lower interest rates.

The instant loans have variable terms and are freely available, so there is no special purpose, and apart from the age of majority, proof of income and possibly a credit check, no further collateral is required. As a rule, there are also options for special repayments and repayment risk protection.

The borrower has no disadvantages at all in using the loans with an instant commitment on attractive terms. It is generally recommended: Compare loans online. The best possible loan offer can be determined quickly and easily by means of a loan comparison.


A definitive solution for all your unsecured loan needs

Consider a home equity loan that is worth $ 30,000. This amount is set based on the value of the home property. In addition, the interest is deductible, or may be made up of excess funds. If you take home equity loan, you pay around 0 per month until the loan is due.


How can we recognize loans that are cheap?

secured loan

As per the concept, the financial support of charging less interest rate is called cheap. But then the next question arises; do there exists a stable and basic rate, on the basis of which the speed can be measured. In fact, since there is no scale of a measure to check whether the loan is cheap or not, the term of cheap loans is in itself something based on imagination. But one thing is possible here. The opting client for loans or such monetary helps can analyze various loans available on the financial market.

Another disadvantage is that almost all home loans require advance payments, such as title, insurance, tuition fees, origination fees, interest and so on. Therefore, it pays to ask for information and shop around before taking another loan to repair or build your credit. Fannie Mae Home Keeper Mortgage programs are one of many that offer a Home Mortgage Loan Reverse.


Credit cards are another way of living beyond your means

Credit cards are another way of living beyond your means

At first, it is easy to fall victim to the thought that you can buy today and pay another tomorrow. However, such tomorrow become rare. Now there is another debt accumulated with the rest and everything was well understood. After all, you never say get overextended. You just wanted to please your family.
Even better – the relationship ends with an exclusive invitation to work directly with Alex on a project he has taken on. It shows in detail how you can work with Alex (and the incredibly talented and successful team of marketing experts he has assembled to help with the project) without directly uploading him for all the help.

It is a fact that debt consolidation has become a popular choice for most Americans, but things were not the same. In fact, the ability to consolidate credit card debt hasn’t always been around. Most people were totally unaware of credit card debt consolidation before the mid-1900s.

Secondly, you need to prioritize your bills. You should first worry about secured debt, such as mortgage and auto payments because if you get too far behind, you can lose your property. As for unsecured debts, such as credit cards and medical bills, pay those with the highest interest rates first.

Borrowing money without risk ┬╗safely, quickly & easily from private customers.

100% risk-free borrowing money from private individuals

100% risk-free borrowing money from private individuals

Would you like to borrow money without taking out a bank loan? You can also immediately borrow money from private donors. Fast, easy and without risk.

Private lenders decide for themselves who they lend money to, how much and on what terms. For borrowers, this can mean that they get a loan at low interest rates and also have a greater chance of lending. At banks, some groups of people with borrowing problems may experience problems. Lending money privately therefore offers more flexible options.

Find a private lender!

Find a private lender!

In order to find a private lender who can lend you money, you do not have to place an advertisement in the newspaper or the like. We bring prospective creditors and private investors together.

Even frustrated bank customers will find a good alternative on our platform. Classic forms of investment have long ceased to offer the desired returns. By granting a loan, you can invest your money profitably and help another consumer.

We bring borrowers and lenders together according to established rules. Every consumer can apply for a loan, be it an employee, pensioner, student or self-employed. Investors and borrowers must be at least 18 years old, have a permanent residence in Germany and have their own checking account with a German bank.

Borrow money cheaply from private investors!

Borrow money cheaply from private investors!

So that you can borrow money privately, you have to put your personal loan request online. Important information, in addition to the desired loan amount and term, is also information about yourself (age, profession, address, monthly income, etc.).

When lending money from private providers, the general conditions must be right and the lender must be secured. In addition to the identity, the creditworthiness of the potential borrower is also checked to ensure that it is creditworthy. Pay slips, tax assessments and other income documents can be used to check creditworthiness. If the borrower gives his consent, the Credit bureau data can also be queried. It is advisable to give such approval, because a Credit bureau query increases the chance of a loan.

Express your personal loan request!

Express your personal loan request!

The description of your loan request is a kind of application, because you want to draw investors’ attention to themselves and their loan request. It is particularly important to convince investors that you are able to service the loan.

In addition, many lenders want to know what the loan amount is needed for. You should therefore always state the intended use.

As a borrower, you must also specify the lending rate that you are willing to pay. The interest rate should be based on the default risk. That means: the better your credit rating, the lower the interest rate can be. However, if you have a low income, it is advisable to accommodate investors and offset the increased risk with a higher interest rate. The final interest rate will then be determined in consultation with the investor.

A loan approval can only be given if an investor agrees to lend the entire loan amount or if several are willing to fulfill the loan request. With several investors who fulfill a loan request, the advantage is not only that they share the loan amount, but also the risk. So it is also possible for people to borrow money who would have no chance at a bank.

What are the requirements?

What are the requirements?

In addition to the age of majority (at least 18 years old), the borrower should also have their own bank account. Depending on the lender, cash payments are also possible, but the majority of investors prefer a traditional bank transfer by bank transfer.

What documents are needed?

What documents are needed?

The required documents differ depending on the credit volume and the investor. In principle, you should have the following documents ready for all cases:

Your ID card or passport
Current bank statements with salary receipt
The last 3 payslips

Under certain circumstances, private investors may require documents such as:

Copy of the employment contract
Credit information (Credit bureau, credit score or similar)

When can the money be paid out?

When can the money be paid out?

After you have started your individual loan application online, we will immediately start to find the right lender or lender for you. Ideally, payment is possible on the same day. Of course, this largely depends on the loan amount as well as the term and your personal requirements.

What is a line of credit?

It is an amount of money that the bank or the financial institution puts at our disposal for a certain time. During the period in which you have that extra amount, you can use the one you need when you need it.

How does it work?

How does it work?

Its operation is like that of a current checking account, for which we can have an extra balance. Bank and client will set the balance limit which will be available.

In this way, we will receive the agreed amount of money and we can use it when we need it and pay interest for only for what we have used.

Although you also have to pay a small interest to have the account open and have that extra balance, but that depends on conditions and entity.

When the agreed period is over, the balance at the beginning should be restored.

Where to request a line of credit?

How does it work?

You can request it and get a balance of up to USD 5,000 for a maximum of 36 months, to use it whenever you want and whatever you want. In addition, it has no opening or maintenance fees.

Advantages of a line of credit

Advantages of a line of credit

  • Get immediate liquidity to use when you need it
  • You pay interest only for what you have spent
  • Convenience of balance management, use it whenever you want and for whatever you want

How is a credit line different from a loan?

How is a credit line different from a loan?

Although a loan and a line of credit are two ways to obtain financing for expenses or projects, they are not the same and have some differences:

  • In a loan, the bank provides you with a total amount in which you have to pay back in monthly installments, where the amount borrowed plus interest and commissions is returned, instead on the credit line you have a total balance that you use when you need until the agreed period ends, when you will have to replenish the amount of balance that was initially.
  • When the term of the credit line ends, you have the option of being able to renew, but in a personal loan it is not possible, it ends once the debt is settled within the agreed term.
  • Regarding the payment of interest: on the credit line you pay a small interest for having that total balance, and a smaller interest for the amount you use. But interest on the total amount is paid on the personal loan.

What are home equity loans?

Applying for a home equity loan will provide us with the credit we need for our economy, either to invest in a hopeful project or to cover a series of needs. However, we must add that such a loan will only be possible if we have a property in our name to be able, thus, to qualify for these loans.

What are they?

What are they?

When we talk about mortgage guarantee, we refer to the guarantee that assures the financial institution that it will not lose the amount borrowed in case of default or breach of the conditions previously established in the contract. That said, we must be aware at all times that in case of default, we will lose our property.

Therefore, an entity provides us with credit in exchange for ensuring that the loan is repaid with a property free of economic charges or with few charges.


Home equity loans are easy to apply for and have advantages such as:

  • They offer larger amounts than a personal loan.
  • Home equity loans do not take into account delinquent lists.
  • They have flexible repayment terms, adapted to the applicant’s economic situation
  • It is possible to use the dwelling used as collateral while enjoying the loan and paying the fees.


In order to enjoy these home equity loans, we must meet minimum requirements demanded by the financial institution:

  • Be of legal age
  • Owning a property that we can use as collateral, provided it is not mortgaged.
  • The property must be free of economic charges or with few charges, depending on the entity with which we requested the loan.

How does it work?

How does it work?

In Lite lending company they offer a fast, flexible and uncompromising service. A financing which does not take into account delinquent listings, but does require having a property in our name free of charge or with few.

You have to follow these steps to apply for credit with Lite lending company:

  1. Fill out this little questionnaire

  2. We study your profile

  3. We advise you for free and without obligation

  4. Enjoy your home equity loan

Its operation is very simple. The first is to answer a small questionnaire through which to carry out an exhaustive subsequent study analyzing your profile in order to offer you the service that best suits your needs. And finally, offer the credit up to 60% of the value of your home with the best conditions.

Loan for your new dream home

You are dreaming of buying your dream home that you have just found on the market, or you may want to invest a greater amount in something that you will enjoy for many years to come. But that may be easier said than done, as it is the few people who have all the money to spend on a new apartment or house.

Therefore, the vast majority of all the banks in the market offer that you can take out a profitable loan so that you do not have to give up the dream house. That way, you can make your dreams come true by investing in something that you will enjoy many years into the future.

However, there are some things that you need to be aware of before making the final deal with your bank. Here we have compiled a brief overview to give you an overview of what the various loans require from you and your current finances.

Which loan is right for you?

Which loan is right for you?

Mortgages are also called a mortgage loan. In this case, you typically only have to put up a loan amount yourself, which corresponds to around 5 percent of the amount you want to invest in. In addition, you can get 15 percent financed through various types of loans that you can take either through your own bank or through another credit union.

Basically, there are two different types of loan when you go out and buy your new home: a variable rate loan where the interest rate is only fixed for the next years or a fixed rate loan where the interest rate is fixed for the entire loan period.

The right interest rate for you


The advantage of having a fixed interest rate for the entire term of the loan is that the interest rate cannot suddenly increase, and you are thus guaranteed a stable repayment where there are no sudden surprises. However, it should also be mentioned that the amount you pay each quarter may vary, as you will have to pay a surcharge to take out a loan, which may well vary over time.

The advantage of a variable interest rate lies with you, which has air in your economy for fluctuations, whether the interest rate goes up or down. With such a loan type, the interest rate is fixed for a couple of years or more at a time, and then the interest rate can vary accordingly. So with this type of loan you do not know for sure what the next payment will sound like and you must be sure that your finances will be able to withstand recovery or downturn in the future.



It is a good idea to go to the relevant credit union or your own bank and get advice on which solution is ideal for you just before making a decision yourself. In this way, you are assured that you can make the decision to borrow money on a solid basis where you have knowledge of your many different options.

This means that with good conscience you can take out a loan and invest in something that you will enjoy for many years to come. By choosing the right loan type as well as through counseling, you can thus become completely confident in your choice and enjoy your new dream home with your family for many years to come.

Search the web for loans

Whether you are looking for “loan offers” or “loan offers” is secondary – you will get a lot of hits on your search. There are a lot of companies in Denmark that are allowed to lend money, and competition is not a bad thing for you. You can get the opportunity to borrow money cheaper than usual if you choose to strike.

It is a great opportunity to research the market and to find that it is a good and easy way to borrow money. There are benefits on the web that you will not find in the bank. Especially that you get the money quickly and that you are not asked what you need them for.

Compare the deals you find


Finding a good offer on a loan is like looking in advertisements for good deals, for example, on meat and vegetables. You always choose to shop where it is cheapest. And you should do the same with a loan. There is no reason to pay too much for a product that could easily be cheaper elsewhere.

If you look for loans online like all other offers, then you can find really good options for loans that will not cost you the world. You can do it all from home in peace and quiet. Just search the web, and then you get started. With deal hunting, the point is to research it all so you know where to turn. It gives you all the benefits and those you might as well bring, now that you know you have to borrow money.

By comparing the offers you have found, you can also get an overview of the fees that may be and the interest payable for your particular loan. You can tailor your loan in many places to get the right amount and the right maturity. Then you can spend the money you want and you know how much it costs you each month.

The best deal is also the cheapest


If you find a loan that has a really low interest rate, it does not mean that it is the cheapest loan for you. The cheapest loan is the most affordable one overall. The low-interest loan may have to be repaid faster than you are comfortable with.

Then you are going to sit really hard in it financially for a period of time and then a possible saving is to overlook. Otherwise, the loan may have to be paid over a very long period and cannot be redeemed by you along the way, then it is a bit the same. Therefore, find a loan that costs you the least overall.

Not only the loan itself, but also in your everyday life


That way, you have found a loan offer that is the best deal for you. You can borrow whatever you want and you can arrange your everyday life so that it is still comfortable. Even if you pay back. You can’t find better deals than this.

Therefore, you need to research several pages and also apply for loans in several places. You will be pleasantly surprised that you can find such good deals on loans. When it’s so easy and you can do it so cheaply for you, there’s no reason not to borrow when there’s something you need here and now. You get the money really fast so that the dreams don’t burst while you wait to access the money.

Effective Ways to Submit and Make Online Credit Cards

What is a powerful way to apply for credit cards online? At the moment, it turns out there are some practical anti-complicated ways to apply for credit cards online.


Submit and Make Online Credit Cards

online credit cards

Credit cards are one of the most preferred choices for non-cash transactions because they are practical and provide many easy transactions as well as benefits such as rewards points, shopping discounts, vouchers, cashback, and so on.

However, because these non-cash transactions are money-based loans from banks or card issuers, the use of credit cards also requires extra caution because the interest is expensive.

Especially for penalties for late payment of bills, and other costs.

So, if you intend to have a credit card, make sure you understand the best way to use a credit card and don’t even become a source of financial disaster.

Many people are caught up in credit card debt problems because they consider this non-cash transaction tool to be an additional income.

Even though the limit provided by credit cards is loan money from banks with expensive interest.

If you understand the best way to use a credit card, you can consider applying for a credit card. Now how to make a credit card is not difficult even you can make it online .


Effective Ways to Submit and Make Online Credit Cards

Effective Ways to <a href=Submit and Make Online Credit Cards” />

For those of you who are shopaholic, credit cards are objects that are highly recommended for you to have.

In fact, for those who like to travel, vacation, and shop, having a credit card will also be an advantage because it provides many features and benefits .

The following are the steps that must be taken in applying for an online credit card for the first time.


Visit the Official Website

Search the website first, then search in the top right corner to find out the credit card you’re looking for.

Find the best credit card that best suits your needs and lifestyle, from reward, cashback, business, travel, to lifestyle credit cards. You can also enjoy the convenience of finding various credit card information from each credit card issuing bank in Indonesia.

After finding a recommendation from the chosen credit card, compare each credit card to get the best choice for you. Click the “Submit Now” button to directly apply for credit cards online .


Take advantage of the Comparison Feature

Take advantage of the Comparison Feature

If you don’t know which card you will choose, you can take advantage of the comparison features provided by select cards.

Choosing a credit card is easy. You must be careful to make sure the choice falls on the right credit card.

Look for a credit card that offers many benefits and broad access, as well as features that you might need.

Pay attention to things like rewards, free annual fees, and interest charged clearly before you determine your credit card choice.

You can also contact customer service directly from the credit card issuing bank that you are looking for. From there, you can ask everything about the bank’s credit card issuance.

Ask about the terms and benefits that you can get from the credit card issued by that party. Or you can also ask friends who already have a credit card to give a reference to you.


Submit a Credit Card

If you have found the right credit card that suits you, then you only need to click to go to the credit card details page.

This means you have agreed to apply for the credit card.


Online Registration and Prepare Files

Online Registration and Prepare Files

Then you will be asked to register online and prepare and complete the required documents, such as photocopies of ID cards / passports, photocopies of NPWP, salary slips, account mutations of the last 3 months, and others.


Document Delivery

After registering and completing the related documents, you can send documents by e-mail or post office, depending on the policy of the bank where you apply for a credit card.

So suppose you apply to BCA, BNI or Mandiri Bank, then you will usually be asked to send a copy of the document to the address of the nearest central bank in your area.


Your Credit Card Approval Wait

Submission of Credit Accepted Cards

You will be contacted by the bank concerned for the next process. You just have to wait whether your submission is accepted or not.

Usually the bank will provide the news (via telephone or SMS) or it can be by email and direct interview, depending on the policy of the bank.

At this stage there is a bank verification process, where this is one of the most important steps that should not be underestimated.

You must be available to pick up the phone so that the bank can make sure that the number is really your telephone number.

Then you have to be able to answer questions correctly, such as where your home or office address, and other data.


Submission of Credit Accepted Cards

After all the processes for applying for a credit card have been completed, you are now waiting for good news from the bank.

As long as you have met the requirements and can answer questions during verification, you are sure that your submission will be approved.


Calculating Debt Repayment Plans Using the Wolfdietrich Application

Calculating Debt Repayment Plans Using the Wolfdietrich Application

Calculating the debt repayment plan manually by estimating assumptions is indeed quite troublesome and you need to do bookkeeping every period, so that no data is lost.

If you feel that the manual method is too complicated, you can try it in a practical way and automatically use the Wolfdietrich Application.

First download the Wolfdietrich Application first on the Google Play Store for free.

Then open the application and select the “Financial Plan” feature to plan your debt repayment process in the future.