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The consolidation of debts allows, in agreement with the bank and under certain conditions, to bring the various debts into a single loan, with less heavy installments over a longer period. Then we will see in detail what are the different contracts that allow access to debt consolidation. First, an important reflection on the control of family management, without which any positive effect of consolidation could be nullified, sometimes without leaving alternatives.
Every family, from an economic point of view, is comparable to a small company with fixed costs and variable costs. It will only be in relation to a clear vision of your budget, your expenses, your projects, which you can determine if consolidation is the effective solution.
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Are you looking for a good way to put things right? Have you accumulated several small loans without making a case for yourself and now you arrive without breath and without resources at the end of the month? The payday loan consolidation at https://www.paydayloanhelpers.com/ is a good way to go to bring order, to fix situations that you can no longer manage, plan for the future.
Online there are also several free and downloadable programs to keep track of home accounts, but it is always useful to follow some basic rules.
First of all, we advise you to mark, just like in a company balance sheet, on the one hand:
- costs that can not be eliminated (rent, condominium expenses, installments, taxes, taxes, bills)
- variable costs (food, clothing, bars, cigarettes, travel expenses, books, courses, travel, holidays)
and on the other the income (salaries, rents, professional fees and so on).
As for the variable expenses, take a test. Few succeed: keep for a month all receipts and notes related to expenses incurred by all members of the family unit. It is an important analysis because it indicates how much is spent on things are not always so necessary: bars, newspapers, travel, restaurants, clothing. These are expenses that could be cut.
He often of ‘ incredible ‘ s total amount of expenses that can be avoided or contained.
Secondly, project the monthly expense-revenue framework on an annual basis and you will realize what your budget is, and if the expenses outweigh the revenue, perhaps the time has come to redefine your budget and your goals.
According to the criteria of good administration, in your budget, the loan should never exceed 20/30 percent of the income. You should also be able to set aside at least 10 percent of the monthly revenue to cover unforeseen expenses and to build up a small reserve.
The number of loans should never exceed 20/30 percent of revenue
Let’s take a concrete example. If the monthly revenue calculated on an annual basis corresponds to 1800 euros, the monthly payment to pay a debt should not exceed 540 euros.
There are 1260 euros left:
- 600 for rent
- 400 for shopping
- 260 for everything else
Impossible! It means that either you cut on rent and food or you have to downsize the debt installment and bring it to 20 percent, in this case to 360 euros. Or reduce it again by extending the loan and allowing at least a small provision. Naturally, it is just an example, every family nucleus and each consolidation constitutes separate cases. But it is with this lens that the rate of consolidation of debts is evaluated very rigorously, so as not to run the risk of passing, as they say, “from the pan to the embers”. In other words, a careful examination of the family budget in the medium and long term, and consequent planning of the management will allow agreeing with the bank an adequate installment payment accompanied at the same time by constant monthly monitoring of expenses within the family budget.
We come finally to the forms of consolidation of debts which are basically two:
- the assignment of a fifth of the salary
- consolidation loan (see our video )
In short, we simply remember that for the transfer of a fifth of the salary you must be in possession of a permanent employment contract with seniority of not less than 12 or 24 months; in the case of consolidation loan, it is necessary to be the owner of at least one property.
Other unavoidable conditions are the absence of protests, mortgages, foreclosures or registrations to the risk centers.
The choice of the interlocutor will also be fundamental. Only rely on transparent operators in the conditions, flexible in the structure and in the provision of services, close to the customer on and offline, and especially in possession of the certifications established by law to perform these important and delicate financial transactions.