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?
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
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
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
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
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!
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