Friday, September 12, 2014

Before give you a credit, the establishment in particular ensures that:
The regulation allows
Certain categories of loans, for example, are reserved for persons whose income does not exceed a certain amount. Similarly, a minor may borrow only a credit.
Your financial situation is compatible with the amount that you want to borrow and with repayments you have to do.
The jurisprudence is clear that the Bank has a duty to warn the borrower not notified in writing on a credit operation risks taking into account its financial capacity and debt which results from the operation.
Your interlocutor will check also that you have not known incident of payment in the past, but this type of verification to the national file of the reimbursement of individual incidents (see why is it registered to the FICP on the website of the Bank of France shall however not prevent to grant credit. It allows to know people still have an unresolved credit payment incident or who have a record of current indebtedness (within the limits of the legal time limit). Above all, are enrolled in the FICP that people who have had incidents of payment. The notion of positive, widely discussed file on the occasion of discussions on "credit consumption" law, would allow the bankers to know, for all customers, including those who have not yet known incident of payment - the State of debt - at least in France.
Some basic before borrowing tips
Avoid a too heavy commitment
Before you take out a loan, make sure you do not take a too heavy commitment. Do simulations with the calculators on our site and do not hesitate to ask simulations to your institution. They will show you precisely the refunds you'll have to perform according to the amount borrowed and the life of the loan. Do not forget that without exception, the monthly payments continue to be due even if your income declined.
Read the prior loan offer
Whether it is for obtaining a mortgage or a credit for consumption, the establishment you address a prior loan offer that describes the characteristics and conditions of the loan. Following the receipt of this prior offer, whose period of validity is 15 days for a credit, consumption and 30 days for a mortgage you have a period of retraction or reflection. Remember to use this time to reflect on the mastery of your future commitments, prior to the actual signing.
Compare offers
When you compare the different offers that you are made, take into account all the elements. Make your comparisons from the TEG (percentage rate) proposed. Mandatory in all offers and all acts of loan, as well as in advertisements, it allows you to have a vision of the overall cost of your financing and compare to competing offers of credit. TEG incorporates all of the costs required for the realization of your funding: nominal interest fees, cost of compulsory insurance. Also take a look at the other selection criteria that insurance, guarantees are taken by the institution, the early repayment conditions described in the contract of loan etc...Of course other advice tailored to the type of subscribed (real estate or consumer) credit you are given in the corresponding topics
The rate of wear

When you purchase a credit, the rate that you are granted cannot be higher than the rate of wear. This rate is calculated every three months for each class of loan from the average rates charged by banks during the quarter. It is published in the Official Journal at the end of each calendar quarter and can be consulted on the website of the Bank of France.

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