Month: April 2020

I’m tired of paying debts and you?

Living with a debt causes a feeling of constant stress. The pressure of the collection calls and the anguish of not having money to liquidate, cause the person to suffer anxiety attacks that lead him to seek easy solutions.

Asking for a loan to pay debts, pawn goods and paying one card with another, are just some of the ideas that cross the head of those who live under financial stress.

“It’s like trauma that they are calling one to pay. I felt the death, I felt that I was dying ”This is how Walter describes his experience with a debt of almost $ 70,000 pesos” .

I’m tired of paying debts .

I

Walter’s story was complicated when he began to support his daughter financially. As described, at that time he did not work, so he saw the need to use his cards until he reached his credit limit.

This situation is quite common, in fact, the main reason for debt of the clients of Solve Your Debt is the bad administration of their resources , that is, they begin to occupy cards despite not having the money to pay them later, thus causing a ball of snow.

“I met Solve your Debt thanks to the recommendation of another of my daughters. When I arrived at Resolved, they advised me and made a calculation to see how I could settle my debts, I accepted because I was tired of paying debts. ”

The calculation Walter refers to is the personalized savings plan we offer to our customers. Thanks to this plan, the people who go to Solve your Debt can settle their debt with their own resources, without needing to request a single loan.

But how is this possible?

But how is this possible?

This is thanks to the fact that we negotiate with the banks, department stores or financial stores with which our clients present their debts. Our negotiation team obtains discounts of up to 70% on the payment of the debt, thus, from a debt of $ 100,000, our clients end up paying less than half.

Does solving your Debt is reliable?

Does solving your Debt is reliable?

Let the numbers answer for us: in 8 years we have helped thousands of people like Walter settle their debts. Thanks to the team work of advisors and negotiators, we have settled more than 120,000 debts not only in Mexico, but also in Colombia and Argentina.

There is no prayer to pay off debts and multiply money, but there are solutions such as Solve your Debt that help people solve their debt problem definitively.

“I thank Resolve very much. I advise you to approach, to know them and to enter the program. In my case, it is thanks to Solve your Debt that I am moving forward . ”

Credit without collateral

 

A loan without collateral is now rarely issued by the banks, since the risk of loss from a loan default does not justify the promised return in the long term. For this reason, it is increasingly difficult for a borrower to get a loan if it either cannot provide any collateral or the existing collateral is insufficient. The professional lenders base their lending on a few key points that the future borrower has to fulfill if the loan amount requested is to be approved.

The conventional collateral, which is usually queried by every bank and must also be provided by the borrower, includes the credit entry as well as the deposited creditworthiness, which must be proven by means of salary or wage statements together with account statements. Even a failure of just one of these securities can have a negative impact on creditworthiness, so that the application for a loan can result in a rejection.

Apply for a loan without collateral successfully

Apply for a loan without collateral successfully

If the collateral is not available, the borrower is dependent on the successful application for a loan without collateral, at least if one does not want to collect additional collateral or even want to move to the private level. If the usual collateral such as credit entry or proof of creditworthiness cannot be provided, a loan without collateral can be avoided by simply offering the bank or another credit institution additional security that tries to compensate for the missing one. In the best case, this can be a property that currently does not generate any income, for example because the condominium is not rented out, but can act as a seizure fund. A guarantee can also convince a bank to ignore the lack of collateral for the actual borrower as far as possible and still issue the loan amount.

Both ways represent effective and sometimes successful emergency solutions, but they do not serve as a long-term solution to the problem and leave the root of all evils completely untouched. Regardless of whether the application was successful with additional collateral or the loan without collateral was issued on the basis of good relationships with the house bank, the borrower should subsequently improve his financial situation. If, for example, the credit entry is positive again, the internal ranking of credit will of course also increase in reverse. This not only enables creditworthiness, but also increases the possible loan amount.

No loan entirely without collateral

No loan entirely without collateral

In any case, the borrower must be aware that a loan will never be issued completely without any security, as this would already contradict the basic economic idea behind the loans. The only way to get a smaller amount borrowed is on a private level through good relationships with parents or other family members who give loans on a sympathetic basis, but not on hard facts.

A loan without collateral does not have to be the end of the road in any case, especially if the loan is either vital or a promising investment for the borrower. This is also where independent advisors or intermediaries, or sometimes a quick credit comparison, help to get the situation under control. Such a serious loan is not possible without collateral, but you can increase your creditworthiness in the long term by keeping your collateral stable and intact.