With so much news about people with debts afraid to borrow one, right? What happens is that it depends on which is the purpose of this debt and as soon as is possible we’ll be able to pay being realistic. Below we share some advice:
- Make sure you need the loan. Please have a clear objective to apply or accept an offer from the famous cards with pre-approved lines.
- Make sure you can afford. The monthly payment for all your debts should not exceed 25% of your net income. If you exceed it, you will have problems to cover your fees.
- Choose the currency in which you should ask. The rule is: get into debt in the currency in which you perceive your income.
- Determines the term financial institution fees and what is appropriate. In the longer term, the rate of pay is lower.
- If you have debts on other institutions is not a bad idea to apply for additional credit to cancel. You could get a lower rate (although not always the case). The goal is to have a higher order in finances, paying less commission to relieve the pain when it comes to pay.
- If you use your credit card to buy, do not use those purchases in installments. Best is to ask for a personal loan, since the differences in rates are significant. In a card will charge on average 42% annually in soles and a personal loan will be roughly 25%.
- If you see you begins to make the world pay for your debts, assumes a proactive attitude. Go to the bank or other institution that gave you the loan and expose your situation. Requests explore the options together in order to comply with your obligations without major problems.
- Before signing, read the papers and the small letters and ask them to explain what you sign.