суббота, 15 ноября 2014 г.

What to look for in the loan agreement?

It's not a big problem to issue the credit, but his right to review and understand all points of the credit agreement can not in any way due to the lack of legal and financial literacy of our citizens. Taking into account the fact that the contract offered by banks constitute competent lawyer, you can rest assured that they have taken into account every detail to make the agreement more favorable to the bank.

What points should be especially careful:

Interest rate. Most borrowers are paying great attention to this point, stopping the choice on that loan, which implies a lower interest rate. How do different? It turns out that things are not so simple. Must be able to truly "count between the lines." Employees of banks like mask different "little things" that are gradually increased to the borrower on the loan. For example: bank fee for account maintenance can be considered as the size of the original loan, without reducing as debt repayment; one-time fee for a loan also increases the interest rate.

Property liability in case of delay in repayment of loan debt, the failure of other duties (specify exactly what is meant by "other duties" - for example, change of residence or work).

Fees and other commissions. Looking through the contract, many people do not reach or pass this point, but in vain. It is necessary to clarify what is included in these payments. Often this requirement for insurance, fees for the examination of documents, payment of loan repayment cashless payments; Penalty for early payment of the loan.

In summary, we note that the treaty should be read in its entirety, making it clear to all bank employee unclear points. If there is a suspicion that the deal will not work on their own, you can seek help from a professional counselor. It's better to pay once for a specialist service, than to feel cheated.

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