“Hello! Unfortunately, we were unable to complete your purchase as there is not enough balance left in your account. ”How many times should you have received this type of message? In addition to embarrassing, the content warns that: yes, you are negative!
The good news is that today the market offers a range of possibilities for those in the red who want to rush to the nearest banking institution to get out of the stifle.
Low interest rate loans
The range of options is tempting, but there are a number of lines in the contract that need to be carefully considered before you leave with signed paper and a ‘stuffier’ wallet, and the main one is choosing the one that will fit your needs and take away. the rope around his neck, without causing the debt to become an endless snowball.
The warning from financial market experts is that before closing a deal, each type of loan should be analyzed, carefully evaluating the rates embedded in the total debt value. the necessities.
But you have to understand how each one works, taking into consideration the value of the loan installment, to choose which offer fits right in your pocket. Today, in the ranking of the most sought after are:
Aimed at meeting even the negatives, it is the leader among the most requested because it has the easiest approval. This form of loan is always one of the first choices of those in trouble because it is released faster. On the other hand, ease and agility can come at a very high price.
This is because interest rates can reach 7% per month – a percentage well above the average of other modalities;
Several national banking institutions already have this option for those who are in the red and, to make matters worse with the dirty name. Some release loans only to civil servants, military or retired INSS pensioners, because they are assured that this client receives monthly salary and / or direct benefit in the checking account.
Thus, the institution can withdraw the amount of the installment before it is debited into account, until the full payment of debt. Today this type of business is pointed by experts with one of the best options, because it has lower interest rates, around 2% per month;
Jewelry, cars and real estate emerge here as a guarantee of debt repayment. In this case, the interest rates average 3% per month and may vary slightly, depending on the institution chosen to obtain financial assistance. If the client does not repay the debt, the good left as security works as payment.
Experts explain that because it offers less risk to the financial institution, this method has been advantageous for borrowers with lower rates.
Full of offers for those who need extra money, the loan market moves millions every year
Little Help Online
Data from the National Association of Finance Executives indicate that in the last decade, the value of loans provided has exceeded the mark of USD 3.1 trillion. The wave of growth has sparked market interest and today there are a number of companies of all sizes offering financial services on networks.
Combining technology and finance, the boom of virtual establishments that offer credit alternatives is already a reality in the country. The number of fintechs offering online financial aid is already up to 400, and with lean staff and no need to spend on agencies, for example, these companies can afford to offer credit at lower rates as operating costs are lower. .
Another factor that contributes to the growth of this niche market is that in this mode online credit has become more accessible and anyone on the network, including negatives, can ask for help and have a faster return than in the traditional system. In this type of negotiation it is also essential to pay attention to the details of financial services, as interest rates can vary from 2.8% to 7.2% per month.
Credit lines can also be a way out
Not only loans live the financial market. Banks and service providers also offer, for example, overdraft, but in this case the indebted person must be aware that the interest rates are very high, reaching up to 15%, which is not an advantage for those already in the red .
Debt financing and refinancing are also on the list of options that can save the negative, but you need to look carefully at the financial institution on a case-by-case basis to assess the differentials of each offer and compare charges and taxes embedded in the value of the installments.
When hitting the hammer about hiring the business, pen and paper in hand help you calculate the risks and opt for the most advantageous offer.
Valuable tips for those considering a loan
1.Check the details of each fee charged;
2.Compare fees and payment terms of the agreed amount. In the paytable there is data stating, for example, whether the value decreases or increases, or whether the value can be readjusted or fixed;
3. Attention to contract payment conditions – including insurance, as in some cases they increase the value of the installment considerably;
4.All major national banks offer internet banking loans, but a chat with the account manager can be crucial when choosing the most advantageous deal;
5. If applying for a loan online, the guideline is to check the security of the site and not make any advance payments.