Car Insurance for Car Loan
Posted on Oct 24, 2000 08:15:27 AM
When you register auto loan banks require customers to insure the car. And it is quite understandable. The car is the collateral, it can be stolen or broken, then the client has lost motivation to return to the bank loan and pay interest.
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Basic mistakes and errors when taking a mortgage
Posted on Oct 5, 2000 08:15:27 AM
Deciding to take the credit for the purchase of real estate mortgage lending program, not in a hurry. Before you put a signature under the statement must be carefully ponder and review all the conditions imposed by the bank or mortgage lending agency, to verify that all necessary papers and documents as may be required for credit. Often ignorance of the law and “illiteracy” borrowers in mortgage lending issues lead to errors whose consequences are very significant to the borrower.
Credit cards – the future of consumer lending
Posted on Sep 18, 2000 08:15:27 AM
Credit cards for today is one of the fastest growing segments of retail lending. The special distribution of credit received by banks after the introduction of many so-called grace period interest payments (grace period). Advantages of a credit card with a consumer perspective are clear: to raise funds not required additional paperwork and pay card can be used at any retail outlet, equipped with the appropriate terminal. In addition, the client has the opportunity to choose a payment schedule on the loan.
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Pawnshop – fast way to get money
Posted on Sep 11, 2000 08:15:27 AM
Obtaining bank loans due to the need to design a large number of certificates and other documents and the terms of the application for a loan can stretch out for weeks! In addition, even after collecting all the information can be denied access to credit.
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Forms of credit
Posted on Sep 10, 2000 08:15:27 AM
All loans are classified according ¬ STI from someone who is a creditor, and which provided the loan. Distinguish five forms of credit.
Commercial credit. This is the earliest form of the loan. It is based on the now-deferred seller payment of goods and provision of business-customer bills as a debt obligation to pay the cost of goods purchased after a certain period of time.
For commercial loan are two types of bills.
1. Promissory note – contains the obligation of the borrower to pay a specific amount directly to the lender.
2. A bill of exchange (draft) – contains a written order to the lender to the borrower to pay a fixed sum to a third person or to bearer instrument.
In the Russian practice of using three types of commercial loans:
1) with a fixed maturity date;
2) returning after the actual implementation of the received goods on credit;
3) on an open account – secondary supply of goods under a commercial loan made only after repayment of the previous delivery. Bank loan. This is the most common form of credit in Russia. Creditor is usually the bank and the borrower – legal entity. Confirmation of the credit transaction is a loan agreement. Income of the bank loan interest is paid by loan ¬ schikom. Credit is usually given in cash.
Consumer credit. Acts then ¬ Varna or cash at the target lending to individuals. Lenders may make traders (retail sale of goods on credit) or credit organizations (providing cash loans to people for different purposes).
State credit. Its main feature – it’s part of the credit transaction state as a lender or borrower. Addressing the creditor, the state makes loans of regional or local authorities, the priority sectors of the economy, commercial banks and other lending institutions.
International credit. This form of credit occurred when economic relations of went beyond national borders. Participants in international credit transactions can be separate legal entities, the right ¬ governments of States, international financial and credit institutions.
Separately identifiable form of usurious loan. This credit was widespread in the past, along with commercial loans. Its members are the individuals in the provision of funds in the loan.
In most countries, usurious loan is prohibited in Russia has a limited distribution.