Know 5 steps that must be followed when borrowing or applying a loan

Applying for a loan is a necessity that terrifies many Brazilians. However, this alternative has been very beneficial not only for those in an emergency situation. But also for those who want to exchange high-interest debts, such as credit card and overdraft debts, for a much less expensive cost.

Obviously, this does not mean that you should not be cautious when looking for this type of operation. Thinking about it, we will show you five steps that must be followed when applying for a loan. Thus, you will be able to pay the amount without major concerns, having a more than peaceful experience. Check out:

How much do I need?

How much do I need?

As obvious as it may seem, many people apply for a loan without knowing how much they need, which often delays the payment of the debt or even compromises the payment of the installments.

Thus, initially assess whether you really need the loan and what your goal is from it. Thus, you identify the amount needed and avoid taking a step higher than your legs.

Watch out for scams

Watch out for scams

Online lending has become one of the most coveted modalities on the market, especially due to the ease of obtaining credit without leaving home. We know that several reliable financial institutions work with this modality, but unfortunately it is also a full plate for scams that still deceive many people in the online environment.

Therefore, assess the reliability of the institution that you apply for the loan. If you do not know the company, check the CNPJ registration status or look for online evaluations on sites like Lite Lender.

Organize your finances

Organize your finances

 

Applying for a loan to pay off debts is always a good alternative, but it is useless if you do not comb your finances. So plan your budget once and for all.

An always important trick is to classify your expenses into three categories: essential expenses (rent, electricity, water, etc.), payment of debts and superfluous expenses. Thus, you can establish a percentage of your income for each of these categories, which creates a more detailed view of how much you can / should spend on loans per month.

Analyze the cost of the operation

Analyze the cost of the operation

Here, the secret is to analyze the Total Effective Cost of the loan, which includes the charges, taxes, fees and expenses of the operation.

Each institution works with its own interest rate, so it is advisable to run simulations on each of them to identify which one offers the most advantageous conditions for you. The good news is that virtually all of them make these rates available online, making comparison easy.

Beware of documentation

Beware of documentation

Loan institutions typically request personal documents for credit analysis, such as CPF, RG, proof of residence and proof of income. So, have them all in hand.

By following all these steps, you will get a secured loan that will not give you any headaches!

Did you like the tips? Our platform works with private payroll loans, the modality with the lowest interest rates on the market! Contact us for more information.

Retirement loan or mini pension: what possible solutions to exodus?

 

Even today, in 2016, the current government is trying to find a solution, carrying out the seventh safeguard (the other six occurred with previous governments) and promising to activate, in the next 2017 Stability Law, the so-called Ape plan or retirement loan. Here’s who are the exodus and what are the Social Institute facilities dedicated to them in case of a pension loan.

The problem of exodates

The problem of exodates

The exodus, in fact, are those subjects who at the time of the facts, in the process of retiring, chose early retirement in exchange for a bonus that would accompany them to retirement. Then there was a retroactive change in the retirement age (a process that continues today), with a mess that causes total confusion in the category.

The exodus have therefore found themselves suddenly without a salary because they are no longer workers, without a pension because they are not yet of retirement age (the category most affected was that of the over 55) and without being able to relocate to the labor market because they are too “old” “!

This absolute social drama meant that the exodus could not even apply for loans, precisely because they did not have guarantees. Over the years, however, and in particular in recent times, there have been many proposals (including the one carried out by the former Minister of Labor Giovannini in 2014) on the possibility of resorting to the subsidized pension loan for exodus. Type of proposal that, which has come back into the limelight in recent times, could see implementation in the coming months and in any case within the year. Let’s see how it works.

Mechanism similar to a loan of honor

Mechanism similar to a loan of honor

The subsidized loan for exoduses works as a loan of honor, a type of financing widely used, for example, by young university students: therefore it is not a real mini pension, even if it performs an economic livelihood function (see also Loans for students without guarantees).

Rates are very advantageous and return times are interesting, especially when compared to traditional financing plans. In practice, an amount of up to 15,500 USD can also be disbursed with 50% non-refundable, with a repayment plan envisaged in quarterly installments and reversals starting from the first pension received. The monthly allowance would amount to around 700 USD per month. This form of financing would guarantee a sort of advance on retirement: part of the loan would in fact be repaid by the state, while only the other by the exodus once the retirement age is reached.

However, certain requirements, such as age, would also be required to access this type of financing, which obviously must be close to retirement. The other guarantees are offered by the State, and in this specific case, by Social Institute.