Employee’s application for a cash loan

Legal issues related to employment are regulated under Polish legislation – the Labor Code. It is this legal act whose regulation covers only issues related to the establishment of an employment relationship, remuneration, working time and, in general, legal protection of the position of both the employee and the employer.

The Labor Code does not apply in any way to, for example, legal relationships or any legal events arising from the conclusion of a specific work contract or mandate contract. According to the content of art. 22 par 1 of the Labor Code, “by entering into an employment relationship, the employee undertakes to perform work of a specific type for the employer and under his leadership, and at the place and time designated by the employer, and the employer – to employ an employee for remuneration.

Employee’s application for a cash loan

” The above legal provision is the statutory definition of an employment relationship. The employment relationship is based on the employment contract between the employee and the employer. Remuneration issues always remain the most important issues.

First of all, it should be pointed out that an employee holding a valid employment contract based on the Code enjoys legal protection. The employee receives remuneration for work rendered, is subject to social insurance. If an employee decides to apply to a bank or possibly a non-bank institution for a cash loan, it is necessary for him to meet the legal requirements. What are we talking about?

Presentation of a certificate of earnings from the workplace

Presentation of a certificate of earnings from the workplace

When an employee applies for a cash loan directly to the bank, it usually requires the submission of an appropriate certificate of earnings from the workplace in which the employee is employed (provides work). Then, at the employee’s request (oral or written), the employer prepares (immediately) an appropriate certificate.

In such a document, the following should primarily be presented: employee identification data, workplace identification data (the tax identification number number or number assigned in the national court register must be obligatory), under which contract the employee is employed in the workplace (permanent contract) , a fixed-term contract or a trial contract), from when the employee is employed, in what time (shift work, full-time or part-time work), the amount of remuneration (gross or net, from for example, backwards for the last three months).

The above should also be stamped with the company stamp, marked with the date and signature of the employer (or a person authorized by the employer, for example, the chief accountant, specialist in human resources and payroll). Then such a certificate is a document that the employee can submit to the bank.

Credits and scams: watch out for scams!

Whether it is unsolicited emails or visible messages on social networks, scams of private credit of the “scams” ​​type are very present on the internet. How to recognize and protect them? We offer an analysis of a scam received recently.

What is a scam?

What is a scam?

It is a widely used English term (like the word “spam”) which designates a scam or scam. The principle is then to send e-mails to individuals in order to extort money from them. A scam linked to consumer credit then designates a message promising the granting of a loan at a particularly advantageous rate and for any amount. In the end, the person who replies to the email will be asked to pay fees (file fees, account opening fees, or any other example), and will never receive any money. If scams generally circulate by e-mail, many copies are also present on social networks.

How to recognize a scam?

Generally, this type of scam is fairly easy to recognize. In particular, the following signs do not mislead:

  • Spelling: if the message contains many spelling mistakes, it is certainly a scam.
  • Address of the sender: if the sender of the message seems to be an individual (and not a company) with a private e-mail address, and it is not possible to link it to a known company it is also probably a scam.
  • Services offered: if the offer seems “too good to be true”, there is certainly eel under the rocks. In Switzerland, private credit is highly regulated. Thus, loans in the event of lawsuits are not possible. In terms of conditions, rates below 4% do not exist.
  • Contact only by e-mail: if the message does not indicate any address or contact telephone number, the offer is all the more suspect.

An example of scam

An example of scam

For the example, we will take a scam received recently in the form of an e-mail with the following content (spelling mistakes included, which we have put in red here):

Hello, I turn to all individuals in need for their announces that I grant loans of money from $ 3000 to $ 9.500.000 to all people able to repay it with an interest rate of 2% year and a time of 1 to 15 years, depending on the amount requested. I do it in the following areas: – Financial Loan – Real Estate Loan – Investment Loan – Car Loan – Consolidation Debt – Credit Repurchase – Personal Loan – You are on file If you are really in need, please write to me for more information. Please contact me by email: xxxxxxxxxx@gmail.com

If we observe the message and take up the criteria set out above:

  • Spelling: the message contains many spelling and punctuation errors, capital letters – capital letters inappropriate.
  • Sender address: this is an @ gmail.com address, which can be created by anyone. So this clearly does not refer to any company.
  • Services offered: in addition to the rate at 2%, the person also offers a loan to people on file, which is very vague. The duration of 1 to 15 years is also unrealistic.
  • Contact: only an address at Gmail is offered here. No real address or telephone number is offered.
  • Other clues: here, the person offers a loan in dollars ($) and not in USD. The turn of the phrase is in a very unusual style and the message uses terms that are little used in Switzerland. Thus, in Switzerland, we are not talking about consolidation debt but rather about credit repurchase.

How to ensure the seriousness of an offer?

How to ensure the seriousness of an offer?

If you receive advertising or come across such messages on social networks, the best way to ensure the seriousness of the offer is to check the existence of a company attached to the offer: check the existence a website in Switzerland, with contact address and telephone number. Finally, if you receive this message from one of your relatives (by e-mail or via a social network), also beware: their account could have been hacked and used to spread this type of scams. In general, this kind of scam is fairly easy to spot. In any case, it is best to ignore the message.

How Much Can You Really Save With a Credit Buyout?

Many companies boast savings of -40% or even -60% thanks to the repurchase of credit. Does this solution which consists in grouping its commitments really allow such savings on its monthly invoices? How much can we really hope to save? Our explanations and advice.

 

The promise

credit loan

On the internet, there are many websites that boast substantial savings thanks to this solution. Thus, HiMax Credit promises savings up to -60% with the repurchase of credit, while other sites such as Superfund Credit advance a reduction of -40% of the monthly payments with this same method.

 

How much can we really save?

piggy bank

Everything will depend on the initial situation of the borrower, and the contract offered to him. Indeed, the potential for monthly savings depends on several factors: amount to be grouped, new rates proposed, and new proposed repayment duration. If the borrowers mainly focus on the rate, it is really the fact of being able to reschedule their loan over a longer period which allows the main savings in terms of monthly cost. By playing over time, it is very easy to make considerable monthly savings, and figures of -40% or -60% are quite realistic.

 

An example of savings: -65% on monthly payments

savings loan

A borrower took a loan of 20,000 dollars over 2 years with a rate of 8.9%. He still has around 10,000 dollars to reimburse for 1 year, with a monthly payment of 872 dollars. He wishes to reduce the latter and therefore requests an offer to buy back credit from a specialized agency.

The agency offered him a new contract with a rate cut to 6.9% instead of 8.9%, and a repayment duration re-spread over 36 months instead of 12. The monthly payment then dropped to 307 dollars! more than almost 65%! By increasing the repayment term to 48 months or more, it would even be possible to further reduce the monthly payment! The savings potential is therefore real.

 

Which address?

credit save

In terms of procedures, requesting a loan repurchase is similar to applying for “normal” private credit. It is therefore better to avoid making too many requests and to focus on a single specialized service provider. The latter will be able to advise you and negotiate for you the best possible offer. If necessary, Superfund Credit offers redemption / grouping credits and can take charge of any request intended to redeem or group commitments such as a private loan, a leasing or the unpaid balance of a Visa / Mastercard card.

When Choosing Quality Online Payday Loan

When choosing any product, we usually pay attention to the price tag. Designation defining general use, aesthetic values, durability is a set of features that clearly affect the quality of the goods. Similarly, when we choose products online. An online market with products allows us to compare prices, features and aesthetics of each product.

There is nothing to pick up and check for yourself. However, in the case of online goods this possibility is unfortunately missing. The issue of Good Finance / instant / financial products that can be purchased online is completely different. By choosing financial offers from the online portfolio we can efficiently compare which offer is more advantageous and which one to choose.

The best place where we find a multitude of loan offers

The best place where we find a multitude of loan offers

Are comparison websites. It is in such places that the best segregation of offers available on the market takes place. As a rule, in a transparent form we have all the most important information about products on the tray. Financial offers are classified according to the same factors as the loan amount, repayment date, penalty interest and interest rate.

Today, on the Internet, we can also check how cooperation with a company looks in practice by browsing various internet forums. However, so we can not focus on online reviews because they can be written by the competition which is on the market a lot. I will add that there are many companies that specialize in online PR. And nothing shapes the image about the company like its opinion from the other person.

Opinions and Online Payday Loans

Opinions and Online Payday Loans

Opinions about Online Payday Loans are very different. As a rule, people who should not take them speak negatively about them. If you can’t afford a loan, you shouldn’t take it because you won’t pay it back. Like a simple maxim, but many customers are assuming “maybe it will be somehow”. And it usually happens that it ends with a bailiff’s execution when a person taking Online Payday Loans or a loan is unable to pay them back. If it is a bank, there are definitely fewer such cases.

This is due to the fact that banks use scoring based on BIK guidelines. And in the non-banking industry there are many companies that grant pay without pay. The customer receives a higher cost of the loan but can receive it. This is the price for not being able to take out a loan from the bank. You can read the Online Payday Loans without bikes in practice and who can use them in the next article.

Fast online loans: what’s true?

It is appropriate, immediately, to reassure the reader: fast loans exist and really make liquidity available to the applicant in a short time. So what do you need to know and what to defend yourself before getting ready to apply for a so-called fast online loan? On many occasions the need for immediate liquidity pushes the applicant to underestimate some aspects: let’s try to put some order in place.

What is a fast online loan?

What is a fast online loan?

By immediate or fast loan we mean a form of financing paid on the same day or in the days immediately following the request. This presupposes that the interested party goes to the credit institution or financial intermediation company already equipped with all the documents required to start an assessment on the granting of the loan.

Thanks to the previous transfer of the quinto and the online customer chats, it is possible to shorten the preparation process of these documents which, once presented and properly validated, give access to advance payments of up to 70% even in the 24 hours following the request itself. Fast loans are, therefore, to be considered safe and available also for forms of loan such as the transfer of the fifth to pensioners, public, state and private employee loans.

What is required to access fast financing?

What is required to access fast financing?

To access a loan, the following documentation is typically required: tax code, valid identity document and a contractor’s income document (which can be a CUD, paycheck, pension). The possession of the aforementioned documents is not, however, the only discriminant for access to the loan itself for which it is requested: – attestation of a demonstrable income – the absence of reporting as a bad payer – the absence of other ongoing loans that could hinder the repayment of the credit

How long can liquidity be accessed? In most cases with a fast loan you can access a large advance (up to 70%) in the 24 working hours following the request. These times are necessary for the formal validation of the documentation by the brokerage firm and the lender.

The advice, therefore, once you have chosen the company to apply for the loan, is to immediately request an online quote or rely on a consultant to evaluate the possibility of receiving the requested financing and quickly prepare all the necessary documentation. In the case of a Contact, click here to access the estimate or contact one of our consultants using the chat form on the right on all pages.

How to calculate interest on the loan?

 

Interest is a kind of remuneration for banks or non-bank companies for granting a loan. The principal interest on the loan should be included in the contract. And how do you calculate them and what does interest based on? What is the maximum interest on the loan?

Interest on the loan – what are they?

Interest on the loan - what are they?

Banks as well as non-bank companies grant loans to their clients to achieve a certain profit. Therefore, regardless of whether we decide on a standard payday loan, a loan without certificates or a loan, we will most likely have to pay extra for them. An exception is special offers, e.g. free loans for new customers, where the APRC is 0% .

The cost of such a loan consists of several elements: commission, additional costs, as well as interest, i.e. the interest we will pay on the borrowed amount. The interest rate is determined on an annual basis, while the installments are repaid every month. And what does capital interest depend on? Their amount is mainly influenced by the interest rate, the amount of capital and the time for which we borrow money.

How to calculate interest on the loan?

How to calculate interest on the loan?

Special interest formulas are used to calculate interest on a loan, but the simplest and fastest way to find out how much interest you pay on your loan is to use the online loan interest calculator . Using this tool, you can estimate the amount of annual and monthly interest-related expenses. However, it is worth remembering that the loan interest calculator will only show us the cost of interest, and not all fees associated with taking out the loan.

Maximum interest on the loan

Maximum interest on the loan

Capital interest should be included in the loan agreement. Therefore, before signing it, we should check that they do not exceed the maximum amount of interest. And what is the maximum amount of capital interest? Each year, the Minister of Justice announces the amount of statutory interest. He usually calculates them by adding up the current reference rate set by the National Bank and 3.5 percentage points. The maximum interest cannot be higher than twice the statutory interest, which is currently 10%.

Knowing the maximum capital interest is very important because many dishonest non-bank companies require too high interest on the loan. Knowing the amount of maximum interest, we can protect ourselves from excessive expenditure.

Maximum interest for delay

Maximum interest for delay

The situation is similar in the case of maximum interest for delay, which is a kind of penalty for the borrower who failed to meet the repayment date. Currently, the statutory interest rate for delay is 7% per annum. They are calculated by adding together the reference rate and 5.5 percentage points. And what are the maximum interest for delay? The maximum interest is twice the statutory interest for delay, i.e. 14% per annum.

Loan from the workplace

Each of us can experience an emergency situation, such as a pipe bursting and flooding the room, which requires expensive renovation.

The question then is – where is the best fund raised? In a bank with a high interest rate, can it opt ​​for another solution? In this article we will present you the offer of loans granted by workplaces – enjoy reading!

A loan from a workplace – what can you do to get it?

A loan from a workplace - what can you do to get it?

The requirements to get a loan from a workplace are usually simple. The most important thing that decides whether to grant a loan is seniority. In such a situation, the employer imposes a minimum period of employment for the person who can apply for a loan. Usually it is 6 months.

A special application must be submitted to receive it. It is usually dealt with quickly. The largest amount we can receive depends on factors such as the company’s financial resources and the number of people working in it.

Repayment installments are deducted from the remuneration received, but usually employers allow independent selection of the number of installments, which allows you to choose the most advantageous solution.

What can the loans from the workplace be used for?

What can the loans from the workplace be used for?

The loan from the workplace can only be granted for housing purposes, such as:

  • buying a house or a flat,
  • building a house,
  • extension or extension of a residential premises,
  • renovation or modernization of a residential building,
  • purchase of a residential premises,
  • adaptation of the building to the needs of the disabled person,
  • reconstruction of the selected room for residential purposes,

Advantages of a workplace loan

Nowadays, loan companies present us with many offers. So why instead of taking a loan from a bank, should we ask the employer about the loan? First of all, the terms of the contract are much more convenient then. Employee loans are free of interest or are really low.

The contract is valid for a long time, which allows you to pay your debt in more frequent and lower installments. In addition, when the employee’s financial situation is severe, there is an option to extend the repayment period. It is also worth remembering that if the loan is granted for housing purposes as repayable assistance, it is not included in income and is not taxable (unless part of it is written off).

When and how often is my credit score and credit report updated?

Credit scores and credit reports are extremely important in securing loans throughout your life. While it is certainly possible to live without having to borrow money all the time, there will likely be a time when you will need a loan. Whether you need a mortgage, car loan, or just a little bit of cash to handle an emergency, getting a loan can be life-saving and can help you avoid disasters.

One of the best things you can do to prepare for the best interest rate on your loan is to have a high credit score and an impressive credit report. This will help you save money on each loan you get, as companies and lenders will have proof that you can manage your debts and that you are able to make payments on time. This article will look at all the things related to your credit score and your credit history. It will also answer some important questions regarding the frequency (and when) of your credit score and your updated credit report.

 

What is a credit score?

What is a credit score?

Before answering these important questions, it is obviously best to understand what a credit score is and what a credit report is. These are two tools that help you and your lenders find out about your credit reputation. If these things did not exist, it would take lenders a lot of time and investigation before they can really judge whether you are a creditworthy person or not. Instead, a credit score and credit report provide a quick and easy snapshot of your credit.

A credit score is a number assigned to you that reflects the status of your credit profile. In Canada, credit scores can range from 300 to 900. The higher your credit score, the better your chances of getting approved for a loan and the better interest rate you will get on that loan. Generally anything above 650 will qualify you for a standard loan, but don’t worry, there are many loan options available for people with a low score. Each lender will be different in terms of what they look for in their borrower’s scores and profiles.

 

How is a credit score calculated?

How is a credit score calculated?

So how exactly is your credit score determined? Well, there are a number of different things that go into this magic number that you see. Numerical weights are assigned to the different parts of your file. Then a formula is used to calculate your three-digit score. The score takes into account elements such as your payment history, your age, your share of available credit, your frequency of requesting credit, etc. Your payment and credit history is the most important, but it’s also essential to take everything into account so that your credit score is as high as possible.Basically, your credit score gives lenders a quick and unbiased view of the overall condition of your credit report and can help them make decisions faster than leafing through your entire file, page by page.

 

How is a credit score calculated?

credit score

So how exactly is your credit score determined? Well, there are a number of different things that go into this magic number that you see. Numerical weights are assigned to the different parts of your file. Then a formula is used to calculate your three-digit score. The score takes into account elements such as your payment history, your age, your share of available credit, your frequency of requesting credit, etc. Your payment and credit history is the most important, but it’s also essential to take everything into account so that your credit score is as high as possible.Basically, your credit score gives lenders a quick and unbiased view of the overall condition of your credit report and can help them make decisions faster than leafing through your entire file, page by page.

 

What is a credit report?

credit report?

Essentially, a credit report is a very detailed overview of your credit history and of yourself as a borrower. Information is collected by the two Canadian credit reporting agencies, WiseUnion and Equiflex, where all credit reports are created. Lenders use these reports to examine the credit worthiness of an individual.

So what exactly goes into a credit report? Well, the answer is a little bit of valuable information. The reports include personal information (such as your name, address, social insurance number, work history) and a detailed summary of your credit history.

This includes the number of accounts you have, as well as all of the necessary information about those accounts, including their credit limit and age. These reports generally only keep negative information for 7 years. Therefore, if your report is not as good at the moment, it will eventually backfire as long as you pay your bills on time, use your credit wisely and don’t ask for new credit too often.

While a credit score can give you an instant overview of a person’s credit history, a credit report is a detailed and in-depth overview of your history. If lenders want to deepen your history and make sure you are a borrower who can lend money, they will probably want to take a look at your credit report, not just your credit score. Credit reports and credit scores are usually updated when credit card companies and other lenders communicate new information (such as balances, payments, and any new / canceled credit accounts) to the credit bureaus. credit. Most often, lenders work with one of the two main Canadian offices. These offices will then share information about a borrower’s credit at the request of each lender.

 

How often their credit report and score are updated?

credit score

There are different reasons why a person may want to know how and when a credit score or credit report will change. One of the most common reasons is that they expect significant changes in the report or score. For example, if they just paid their bills in full and got their credit and finances in check. In either case, the borrower will likely see an increase in their score, which will make it easier for them to get loans. Therefore, they might be interested in knowing when their score was updated so that they know when to start applying for a loan again.

In addition, some people prefer to just keep up with their finances in general. Although most people are not interested in their credit score or report, it is still helpful to know how often their score is updated. All this can reassure those who are often worried about this kind of thing.

 

In conclusion

Hopefully this article has shed some light on credit scores and credit reports, as these topics can be quite confusing for some people. Even if your credit score or report is bad, it’s never too late to start making better changes. With a little time and hard work before you know it, your score will improve, bringing you closer to the credit products and great interest rates you need.