A household that actually wants to obtain additional money from retail banks or loan companies should be thoroughly prepared to meet specific requirements related primarily to creditworthiness testing.
What conditions must be met to get into debt without major problems, and quite economically? About this a few words in the article below.
What determines the efficiency of debt on the domestic market?
Good debt depends primarily on the stable income situation of the household. A stable situation usually means having an employment contract of indefinite duration. With other forms of contracts is really different when considering creditworthiness.
Different credit standards
Remember that different credit standards apply to individual clients and other business owners. An individual customer with a stable contract often has the chance to negotiate much better cash loan interest rates. The credit advisor, after receiving the application from the potential borrower, immediately places it in the risk range in accordance with the policy of the financial institution. If you are in positive standards, then you have negotiation opportunities.
However, be careful not to reject all offers after submitting the loan application, because you will lose points in GFI. Each credit application submitted goes to the GFI database, and then other credit advisors have access to these activities. This shows more or less your approach in the credit market.
The history of repayment of existing liabilities is also important
To obtain a solid debt, you also need a proper history of repayment of existing liabilities and it is not only about cash loans, but also about fines or current bills. The credit advisor reviews the base in the Good Credit Information Bureau regarding liabilities in banks and parabanks, as well as the base in the Economic Information Bureau.
This base, however, concerns the rest of the liabilities. Work on positive creditworthiness is an important long-term investment. Thanks to good credit standing, you increase the negotiating chances with retail banks and loan companies. Quick access to credit also saves from the crisis.