What is a National Debt Register? – Loan Consolidation

The National Register of Debtors is one of 3 databases of debtors, where all information about late payers is stored. Before taking a loan or credit, it is worth checking to see if you are on the blacklist of creditors.

The National Debt Register base is the so-called blacklist of debtors who, due to their negative credit history, are refused when they apply for payment in installments, a credit card or a loan or cash loan. It is here that banks and some loan companies check information about their potential customers.

National Debt Register is the largest platform for the exchange of economic information that collects and provides data on the financial situation of companies and individuals. What’s more, once every six months we have the right to free access and obtain a report.

How does the National Debt Register work?

How does the National Debt Register work?

The National Debt Register is a system of economic information exchange. The institution exists since 2003. Initially, its purpose was to collect data on economic entities. However, since 2010, natural persons have also been added to the list of debts.

First of all, the National Debt Register’s activity consists of receiving, storing and sharing economic information. Such data related to both debt and timely repayment of liabilities by consumers and companies. To National Debt Register you can usually get too long. Their source may be unpaid financial liabilities towards:

  • bank or loan institution;
  • mobile and internet providers;
  • insurance company;
  • suppliers of electricity, electricity, water and heating oil;
  • companies providing transport services, e.g. Public Transport Authority.

The main consequence of entering into the “black list” is the reduction of credibility in the eyes of current and potential contractors, financial institutions and service providers. Such an entry can, therefore, become a significant obstacle in establishing business cooperation, receiving a loan, and even making such a prosaic act as signing a contract with a mobile operator.

Can anyone check the debtor?

Can anyone check the debtor?

Each of us, have any doubts or wanting to prepare well for a loan application, has the opportunity to check ourselves in the National Register of Debtors. The head office of the office is located in Wrocław, however, the information flow is primarily via electronic means using a modern communication system made available on the National Debt Register internet platform.

Anyone can use the system. However, before we gain access to the database, and thus we can obtain the necessary information, we must register for the National Debt Register system. The account we receive depends on whether we are a company, institution or individual.

A person who wants to register in the customer panel must complete the form available on the National Debt Register website. It will be necessary to provide such data as name and surname, correspondence address, PESEL, and ID number and series as well as its expiry date. As well as a mobile phone and email.

When creating an account in the customer panel

bank

You must also provide the password that you will use later when logging in. The user’s login is his unique PESEL number. Then you will also need to check your identity. For this purpose, you will be asked to make a verification transfer or send a scanned ID document to the e-mail address provided.

We obtain information on the reliability of the entities we check after logging into the system. The data comes in the form of a report that contains both positive and negative entries.

Credit defaults and consequences

The repercussions of the crisis of financial institutions and the economic slowdown are reflected not only in the limited availability of financing for the purchase of real estate by banks, but also in the increase in the cost of loans already granted in previous years. Unfortunately, this is also the reason why a large number of people who bought flats earlier, i.e. potential sellers, are currently having problems paying back their loans.

This is due to several reasons

This is due to several reasons

First of all, the vast majority of loans granted were in Swiss francs, whose currency exchange rate has increased significantly, and therefore the amount of the loan in USD has also increased significantly. Secondly, real estate prices have fallen and the difference between the sale price of an apartment and the amount of the loan to be repaid has sometimes increased by several dozen percent.

And thirdly, some borrowers who had a good financial standing and stable job before the crisis lost some of their income or even lost a good job. The combination of all these activities leads to the situation that some people simply cannot afford to pay off the mortgage. What then can they expect and what will be the procedures of the banks granting loans to recover their money?

Seeking agreement with the bank

Seeking agreement with the bank

Of course, the bank will not immediately go to our apartment and will not start execution immediately. In the first place, these will be reminders to the borrower reminding about unpaid installments to be paid. You should not be offended at the bank and pretend that you did not receive them. It is then necessary to go to the bank and try to find an amicable solution.

For example, the bank may propose reducing loan installments by extending the loan period or introducing a grace period of several months in repayment of capital. This is not a significant reduction in installments but always something. In a really difficult situation, the bank can agree to postpone the repayment of several loan installments, although this is by way of a big exception.

Ultimately, if the above solutions do not solve the problem, the bank may agree that the debtor sells his own apartment in order to repay his total debt, which protects the debtor against additional costs of bailiffs.

However, amicable solutions are not always possible because the bank and the borrower cannot find an agreement or the borrower even avoids contact with the bank. In this case, the bank will use the attachment we signed to the loan agreement, which is a declaration of submission to us by execution.

It specifies the amount of debt

bank

For which the bank may issue a bank enforcement order and the date by which the bank may apply for an enforcement clause. Thanks to this, the bank will not have to refer the case to court and wait for the outcome of its proceedings in lengthy payment processes, but based on its books or other documents related to banking activities, it may issue its own documents called bank enforcement titles.

These titles, after providing them with court enforcement clauses, are already enforcement titles, which are the basis for the bailiff to initiate enforcement proceedings. The bank enforcement order significantly speeds up the enforcement process itself. The bank can execute in various ways. For example, from pay for work or from a pension. Can take a bank account with the debtor’s savings. He can commandeered his car, furniture or other valuable belongings. But above all, he will focus on recovering his money from the property that was credited.

Court
There are, however, a few cases in which a bank cannot easily issue a bank enforcement order. In this case, the borrower must bring a normal payment process in which he presents evidence of the borrower’s failure to pay his debts.

However, each of these paths leads to the initiation of a bailiff’s execution and, as a result, the entire debt collection process is initiated, which in the light of the law also uses the means of state coercion and the effect is identical as in the case of the commencement of the procedure by means of a bank enforcement order.

Real estate mortgage use

Real estate mortgage use

Above all, however, the loan is secured by a mortgage on the real estate being credited and it is from this real estate that the bank will want to recover its money. This mortgage is entered in the fourth section of the land and mortgage register. It is a right in rem, i.e. regardless of whose property becomes the property, the creditor may assert his claims from it. Therefore, the bank does not own the property and does not become the owner of the property, as many people think, but it can enforce its claims.

The owner of such a property can sell and get rid of trouble in this way, however, no buyers who consciously make choices will buy a mortgaged property. Unless some of the proceeds from its sale will be used to pay off debts to the bank. The owner cannot, however, lead to a situation in which the value of the property would significantly decrease and the bank may demand that the borrower give up.

The land, building, residential or commercial premises may become the subject of a mortgage. The mortgage can be secured by any ownership right, perpetual usufruct right and any cooperative ownership right. Therefore, the bank can satisfy its claims from secured property, regardless of whose property it is.

What is Mortgage Bank Change?

Can not pay anymore, has to talk to the bank. With our free online account change service, changing an account is as easy and fast as shopping in an online store! Change the financing bank and save money: This has the advantage for you that you do not have to change the banks. So you want to change the bank?

Self-determined customers – this is the optimal customer base for the direct bank: many consumers are still shy to switch to a branch bank? The skeptics, who are trusted primarily in the local bank, is the home loan, the doubters entrust themselves primarily to their house banks. a quiet …..

Independent financing consulting & mortgage lending

Independent financing consulting & mortgage lending

As a rule, new banks value their real estate much more strongly than the previous bank. This can have a positive effect on your service offer. Irrespective of the interest rate, such an interest can also make sense if the predecessor bank has additional collateral, such as life insurance, in addition to the subsidized property. Again and again, we have the experience that the bank does not want to release them.

A new bank is often more benevolent if it has the right creditworthiness. Compare if this takeover offer is in line with the market. If you find a cheaper takeover offer compared to the market, you still need to determine the bank bills (notary and court fees for the transfer of land charges). It is best to prepare all the important documents for the new bank:

List of your income and expenses, assets and liabilities, documents for the project to be financed. Decide if you change or if you stay.

Easy account change service

For the change of your current account, we take over all detours. Individual problem solutions, expert support and customer-oriented support in all financial matters are our self-image. Since 1917 we have taken care of Catholicism, dioceses and parishes, Caritas, religious communities, church institutions, and their employees as “service providers for the Church”.

Building loan with the bank for the property management

Building loan with the bank for the property management

Mortgage lending through your in-house bank – you need to know this if you co-finance your own bank. When taking out a construction loan through your in-house bank, this often makes sense. The interest rate is sometimes better, sometimes worse than the average and it is so cheap that you might think, “My bank is the best thing that ever happened to me”.

Often, your bank will offer you or propose to change insurance policies, and other bank products will be sold by the bank because you feel compelled to do so. The counselor’s argument may have convinced you to apply for a loan from your bank, not an independent intermediary. or on the intranet.

Experience has shown that there are difficulties if you do not get along so well after the loan agreement. Money worries caused by illness, unemployment or family problems can, after a few years, create problems for the bank at which you have your finances. Because then it can happen that your bank first uses incoming funds to make an overdue installment before you pay for your maintenance.

So you want to change the bank?

So you want to change the bank?

Often the new bank, which is to take over the follow-up financing, retrospectively checks on the basis of annual financial statements of the loan agreement whether you have always made your payments on time. If that’s not the case, the new bank does not want you. But even your bank knows that and could use it and you can not do anything about it.

Therefore we advise you: Pay attention to a building loan at another bank, not at the bank, where you maintain your paycheck, preferably not at your place of residence, and if possible maintain your paychecks with different banks so that in case of an individual case the availability of cash and cash equivalents to subsistence level is not affected by the in-house bank.

The first indication of how quickly you depend on a bank is always when there is a demand to maintain payroll accounts as part of the financing. In addition, you become more independent because your commercial bank seeks to offer you other financing products because it knows exactly what is going on in your bank accounts, whether positive or negative.

Even a bank where you have only one loan and no salary account will not get any insight there. What kind of problem could it have with the bank, what do our experiences tell us? What you should look for when financing the construction with your bank, what difficulties can arise and what experience you have.

Mortgage Loan for Finishing Real Estate

 

A mortgage is often identified only with a loan for the purchase of real estate: a house, flat or plot. Few people know that a mortgage can also be granted for finishing or renovating a property. Thanks to this, potential interested parties do not have to postpone decisions for many years because of the costs that should be incurred when realizing their dreams of changing the interior of their home. They do not have to use half measures or drag on indefinitely, engaging each set aside the proverbial dollar. Thanks to its features, the mortgage allows for relatively quick obtaining of cheap and long-term financing to meet your needs.

What property can be a collateral?

What property can be a collateral?

A renovation loan may be a standard mortgage secured by an entry in favor of the bank in the land and mortgage register. To think about such a solution, we must be the owner of a residential property with the land and mortgage register or having the option of establishing it. If the property is already mortgaged, funds for renovation can be obtained only at the home bank. Banks do not want to hedge on “second and subsequent places in the mortgage”.

In this situation, check the possibilities offered by the bank in which we have a loan to buy real estate. If for some reason it is not possible to take out an additional loan for renovation or finishing, we can get a refinancing loan + additional funds for renovation or finishing. I described the loan refinancing procedure in the following topic on the blog: How to properly refinance a mortgage.

The scope of work and materials can be credited

The scope of work and materials can be credited

Finishing mortgage is granted by banks for min. labor, changing the arrangement of rooms, painting, tiles, terracotta, floor, white assembly, changes in electrical, gas, hydraulic installations, replacement of windows but also for built-in wardrobes or kitchen furniture. Several banks have their restrictions in this matter. In several banks, min. Borrowers have the option of crediting built-in home appliances, eg fridge, dishwasher, oven, etc. Equipment that is not permanently attached to the property is not credited with a loan for renovation or finishing. The same applies to RTV, audio-video and computer equipment.

Maximum loan amount for renovation

Maximum loan amount for renovation

My clients often ask me what maximum amount can be obtained for finishing or renovating a property. This is a fairly problematic issue, because you cannot answer without submitting an application. On the one hand, some banks limit it by a percentage of the property value or transaction value. The most common range is 15% -25%. On the other hand, the projected value of the property must increase in direct proportion to the value of the work performed. In short, if we apply for renovation in the amount of USD 50,000 for an apartment worth USD 300,000, the bank will grant us a loan of USD 315,000 if the forecast value of the property is assessed at min. USD 350,000.

If the loan exceeds 25-30% of the property value, a problem may arise and some banks may not want to grant such a high loan. In such cases, I suggest creating an additional, detailed cost estimate that will explain why the relatively high loan amount is due. However, this does not mean that the exceedance will be accepted. Some banks strictly apply their rules and exceptions of this type are practically out of the question.

Many borrowers believe that by means of finishing it is a simple trick to obtain funds for any purpose or to consolidate current liabilities. To some extent it is probably possible (I do not encourage because it is illegal), but rather amounts of up to several thousand USD are at stake. Otherwise, the blown estimate can only mix up the entire process.

Debt restructuring loan online

Rescheduling installment loan comparison – January 2020

Rescheduling installment loan comparison - January 2020

Almost everyone has ever taken out a loan and quite a few consumers are even tied to several loans for which they pay different interest rates. The bottom line is that it all adds up, so it is advisable to carry out a comparison as to whether there is an online loan for the debt rescheduling.

Debt rescheduling can either convert an existing, expensive loan into a new, cheap loan, or several loans from different banks can be combined into one overall loan at one bank and at more convenient terms. This saves a lot of costs.

How does debt restructuring work and when is it worth it?

How does debt restructuring work and when is it worth it?

Example: You pay off a loan with a fixed interest rate of 8% pa, the remaining term is 6 years. The monthly burden increases due to changing living conditions and is almost no longer bearable. A debt rescheduling is advisable if there is a loan offer in which the bound interest rate is lower for a term of 6 months. Many “small” loans with high interest rates can also be combined to form a new loan, which also offers far better conditions through suitable offers and gives the borrower more breathing space. The debt rescheduling is worthwhile under favorable conditions for both high and low loan amounts, which is why an overdrafted overdraft account that is constantly in the red can be a case for the debt rescheduling. This can be achieved with the online loan for debt restructuring.

Conditions for rescheduling and any costs

Conditions for rescheduling and any costs

Getting out of a loan agreement is not that easy. If you want to terminate an existing loan contract prematurely, e.g. for a debt rescheduling, you are often faced with a problem if this is not explicitly stated as a possibility in the contract. The bank with which the credit agreement exists can meet the request for early loan repayment, but is not obliged to do so without further ado.

If she says yes, then the so-called prepayment penalty usually arises. This term defines the interest loss that the bank suffers from the premature termination of the contract. In the case of loans with a long remaining term and high loan interest, the borrower has a lot to do. These costs are then usually added to the loan for the debt rescheduling, which logically increases the loan amount.

Direct banks are waiting with favorable conditions for the debt rescheduling

Direct banks are waiting with favorable conditions for the debt rescheduling

Direct banks offer online loans for a wide variety of credit options. For example, there is a free-use installment loan that can be used as an online loan for debt restructuring. This online loan is available from numerous direct banks for amounts between USD 2,000 and USD 50,000, with terms between 12 and 96 months. With a fixed borrowing rate that is independent of creditworthiness and is far below the interest rate for the current loan, borrowers can save a lot of money and sleep through the night again. Because permanent money worries are incredibly burdensome and take away a lot of quality of life.

Conditions that the online debt rescheduling loan should contain

Conditions that the online debt rescheduling loan should contain

If you want to replace one or more old, current loans with a debt rescheduling, you should also pay attention to special conditions in the new loan offer:

  • Are special repayments possible to repay the loan early?
  • Is there a special right of termination?
  • Can the monthly rate be changed or adjusted in the event of changing living conditions?
  • Are rate breaks possible when things get really tight?

Compare the borrowing rate and the annual percentage rate, here too costs are noticeable.
The credit comparison helps you to find the best deal.

Here’s how to do it

Here

If you are considering debt rescheduling and have selected offers, first ask the banks with which there are ongoing loans whether they agree to the debt rescheduling / redemption and what the prepayment penalty is. Once you have done that, you can submit a loan application online to the preferred direct bank.

The application form also contains information on debt rescheduling loans from the relevant providers. Depending on the handling, the new bank will automatically replace the old loans by transferring the loan amount directly to the corresponding banks or you will receive the required amount and pay the creditor banks yourself.

Loans for foreigners without Polish citizenship – where to take?

 

In recent years, Poland has become increasingly attractive to foreigners looking for a new job and a new life. Ukrainians are the most numerous group, followed by Belarusians, Indians, Georgians and Vietnamese. Do they have a chance for a quick online loan in Poland in case of unforeseen problems? What requirements must they meet?

Foreigners are increasingly settling in Poland

Foreigners are increasingly settling in Poland

There are more and more foreigners in Poland – you can see it almost everywhere. Visitors from across the eastern border are particularly interested in staying in the country on the Vistula. According to the latest report of the Office for Foreigners in 2018, the number of people wanting to settle and legalize their stay in Poland increased by 47,000. Of course, many of them come illegally and on the basis of various documents or permits. That is why currently around 372,000 of them have valid documents that entitle them to stay legally. In 2018, the largest increase in residence permits concerned citizens:

  • Ukraine – 179 thousand people
  • Belarus – 20 thousand people
  • India – 8.8 thousand people
  • Georgia – 2.9 thousand people
  • Vietnam – 12.4 thousand people

Most permits came for temporary stay (up to a maximum of 3 years) – by 35.8 thousand, and permanent – by 9 thousand. However, the most common reason, and at the same time, the goal of living in Poland for most applicants is better earnings and a new job (73%). In addition, many people decide to stay in the country for family reasons (12%) or in connection with entering or continuing studies (10%). The above report did not include persons temporarily staying in Poland, including based on visas 1.

A loan in Poland for foreigners – for temporary problems. Is possible?

A loan in Poland for foreigners - for temporary problems. Is possible?

Along with the growing number of foreigners in Poland, the offer of financial services is also expanding. According to the PRNews report, which was prepared at the end of the fourth quarter of 2018, Polish banks served almost 700,000 foreigners, of which over 320,000 were Ukrainian citizens 3.

Many banking institutions are opening up to new arrivals. Banks introduce language versions on the hotline, have special sections with information in Ukrainian, or offer promotional terms for money transfers to our eastern neighbors. They even support mobile applications in Ukrainian and Russian. Interestingly, they also offer special offers to set up personal accounts and apply for a mortgage. From the point of view of foreigners, equally good news is the development of the domestic non-banking market.

Did you know that more and more lenders grant quick loans even to people without Polish citizenship? There are, however, some rules that clearly describe how a foreign payee takes a quick payday loan.

Loan payday loan for a foreigner – yes, but under certain conditions!

Loan payday loan for a foreigner - yes, but under certain conditions!

As a rule, loan companies verify client applications by following established rules. One of them is the applicant ‘s possession of Polish citizenship and permanent residence in Poland. On their part, this is mere pragmatism and the desire to avoid the risk of the borrower not returning money. Consumers who do not have a permanent residence in Poland – are not certain customers, because they can leave the country at any time. In addition, the lack of a Polish identity card, which is one of the most important factors verifying credibility, practically excludes a foreigner from taking any loan. In most cases you should also be between 18 and 65 years old (although each loan company has its own age limits in this respect).

However, Polish law does not discriminate against foreigners who care about financial support. There is no precise record saying that loans cannot be granted to persons without Polish citizenship. That is why lenders have a lot of freedom and they set their own criteria – regarding age, creditworthiness, debt or origin. There are only a few necessary requirements that every applicant, regardless of origin, must meet:

  • majority,
  • full capacity for civil law transactions,
  • living in Poland,
  • mobile phone, Polish bank account. Sometimes it is possible to loan for a GIRO check, for a phone call or even at the customer’s home,
  • creditworthiness. Although this is not always a necessary condition, because some loan companies do not examine the BIK, BIG or KRD databases.

When will a foreigner get a loan?

When will a foreigner get a loan?

Until recently, a problem with getting online payday loans for foreigners could be not having a Polish bank account. However, in the era of today’s banking offers, this problem has almost been eliminated. In fact, there are several reliable loan companies on the Polish market that grant loans to foreigners. For proper customer verification, you need:

  • current passport
  • legal residence and registration in Poland
  • legal employment and documented income
  • long-term resident status. The key parameter that gives the applicant the right to permanent residence in Poland and legal work. His tax residence is also located here,
  • temporary residence card when a foreigner does not yet have a permanent residence card,
  • PESEL number assigned. It is automatically assigned to every person who has permission to stay permanently in Poland. Others may submit an application for it to be sent to the commune office competent for the place of residence or, optionally, to the commune office competent for the employer’s seat. Interestingly, it is also given to other groups, e.g. refugees. However, the latter cannot apply for a loan,
  • creditworthiness – e.g. popular loans for Ukrainians are granted on the basis of cooperation between the Polish BIK and its Ukrainian counterparts: Ukrainian Bureau of Credit Histories (UBCH) and International Buerau of Credit Histories (IBCH). Thanks to this, financial institutions have access to the customer’s credit history even when he was living in his home country.

Who can become a long-term resident?

Who can become a long-term resident?

We already know that it is common practice for lenders to grant non-bank loans only to Polish citizens. Fortunately, they are increasingly abandoning this requirement and offer, for example, loans to Ukrainians, which are granted on the basis of long-term resident status. How can I get it?

A long-term resident is a person who is treated equally with a Polish citizen – in terms of education, employment, social assistance and social privileges. As a consequence, such a person cannot work in another country, even one who is in the EU. Therefore, to receive a resident card, in accordance with art. 211 of the Act on foreigners 4 :

  • stay legally in Poland for at least 5 years,
  • have regular income for at least 3 years,
  • have the right to housing in any form,
  • have a proven knowledge of Polish. For example, a school-leaving certificate in Poland or a university with Polish as a foreign language. It can also be an official confirmation of Polish language skills at least at level B1.

Which loan companies offer loans to foreigners?

Which loan companies offer loans to foreigners?

Which lenders offer online loans to foreigners?

  • Agree Bank – a loan with a surety. If the borrower does not have to be a Polish citizen, it is absolutely required from the guarantor,
  • Lite Lender Bank – the first loan from $ 100 to 5,000 $ with a maximum repayment period of 3 months,
  • MyCredit Lender – loans from 600 $ to 2300 $, loans – from 2 to 6 weeks,
  • Prida Cash Lender – from 100 to 5,000 $, loan period – from 10 to 30 days,
  • Instant Care Bank – has branches in Germany, Sweden, France and Denmark and there also offers the possibility of taking installment loans.

As a loan it is only for reliable customers!

A foreigner living in Poland for a long time has the opportunity to apply for both a mortgage and an online loan. In this respect, he is treated equally with a Polish citizen. However, this is not the case for people who have just come to the country or live in Poland and who profit from work abroad.

It is also possible for a foreigner to take out a loan with another person, e.g. a spouse with Polish citizenship. It is worth remembering, however, that having the status of a foreigner does not release you from the need to meet other criteria, e.g. having a Polish bank account, permanent employment or receiving regular income. Only if all specified conditions are met, the loan company is willing to provide funding.

Credit Self-employment online

Loan is for the private sector

Loan is for the private sector

As a self-employed person, you have to know every day how and where you get your salary. As a self-employed person you have to push back and forth a lot to be aware of the turn around. The credit institutes know this and are therefore very reluctant to lend to self-employment.

So, what to do if a self-employment loan is urgent, but you are not in a position to avail yourself of this loan? Only if you are looking for active support, a loan for self-employment works. If it is a job loan, then the guarantor who is needed urgently should come out of that position.

This avoids the guarantor having to stick to his private capital and his articles. On the other hand, if the loan is for the private sector, the guarantor can come from the private sector. Not only as a guarantor, but also as a true competitor. This allows to use both business partners at the same time and reduces the default risk.

Loan for self-employment is sought

Loan for self-employment is sought

If self-employment is still in its infancy and the loan for self-employment is sought, eg to become one’s own company founder, one can also rely on public funding. There are very special loans for business founders, which require less security and pave the way for self-employment.

For a self-employment loan as the founder of a new business, you must be able to present a business plan that presents the project in detail and shows the principal bank that you not only have your own ideas, but that they can be implemented. Otherwise, it can be assumed that you will hardly have any chance of a loan elsewhere.

If you do not get a loan in Germany, you’ll soon think that you can certainly find what you are looking for on the internet. If you work in a permanent position and receive a good and stable salary, such a loan is also possible. Unfortunately, as a self-employed person you can not avoid such a loan.

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