Monthly Archive: December 2019

Loans for extinguishing debts or for extinguishing other loans

Loan to extinguish other loans and various debts or to extinguish a transfer of the fifth or a mortgage etc.

Apply for a loan to pay off another or loan to pay off another loan: what phenomenon do we refer to when we talk about a loan to pay off other pre-existing loans and various debts? For all those who do not “chew” the technical-financial language, we can say that every time any form of credit is requested and obtained which is instrumental to the extinction of a pre-existing debt, we are faced with what in jargon comes called as debt consolidation. We have already dealt with the latter with three distinct pages and to which we will refer at the end of the post those wishing to deepen the institute in question beyond the indication on how to calculate the new and single installment.

Financing to pay off other financing?

Financing to pay off other financing?

Why that question mark at the end of the sentence? Well, considering that we have already dealt with this matter, on this page we want to deepen an aspect that we have not studied in other pages: not all forms of credit to be subscribed and paid off are the same, so the need arises to indicate which form of credit we must use to extinguish another! For example, we have a mortgage, should we pay it off with a personal loan? Or viseversa? Ultimately, this post was created to identify which is the new form of credit to be turned on in relation to the old one that we want to extinguish. A hand in this sense will also give us this article that we recommend on debt repayment loans.

Mortgage to pay off another mortgage:

it could be the best solution, but only if the old residual mortgage has a large amount because otherwise, that is, in the presence of small-medium amounts, the expenses of another mortgage would make the operation not convenient. Mortgage to pay off a personal loan: a similar consideration must be made in this case too! It is inconvenient to pay off a personal loan through a mortgage because of the costs, however, it is the ideal solution for those who want particularly low and sustainable installments. Loan to extinguish the transfer of the fifth: the extinction of a transfer or even of the double fifth through the common personal loan is usually convenient because the average rates applied in the personal loan are lower than those of the transfer.

Loan to extinguish Lite Bank: or the former Lite Bank, now known as Capital Bank. Well, the repayment of the debts of Lite Bank and tax in general depends on the sum: for large sums a mortgage is convenient, for smaller sums a (personal) loan. Revolving card debt settlement: we talk about the installments deriving from purchases made by credit card. For these, a personal loan will do.

Financing to pay off multiple debts:

Financing to pay off multiple debts:

this is the last hypothesis which, if well known, uses the singular for the word “financing” and the plural for that “debts”. This is the hypothesis that occurs most often, that is, when with a new and single loan, we want to extinguish more pre-existing loans. In this case, let’s talk about the classic financial scheme in which in the face of older installments we will create one and single.

The installments to be unified can be of the most disparate: for example, we can combine an installment of a loan aimed at a personal one or with an assignment and again with that of a credit card etc. Not only that: we can also request additional liquidity, always to be paid with the new and unique installment. Also in this case we have to look at the total sum of all the installments subject to extinction and determine how to proceed: with a mortgage for high figures, with a loan with medium-high figures. Below are the detailed links and the calculation utility: loans for debt consolidation, loans for debt consolidation and debt restructuring for private individuals.

The characteristics of a perfect personal payday loan

In this website, we compare the different products and alternatives of the market in terms of various loan categories: fast, microcredits and much more. One of the star products is, however, personal payday loans.

Today we want to dig a little deeper and evaluate what makes a perfect loan ideal and what to look for in order to detect it among the wide range of current offers.



An ideal loan would be one that did not have commissions or interest, at 0% APR. However, this does not usually occur for personal payday loans of medium or high amounts. That said, there are many entities that lower interest and offer competitive loans , through promotions, specific offers at different times of the year or sales.

Since interest represents the main cost of financing that we are going to hire, we want it to be as low as possible. The market average ranges from a TIN of 5% to 8%, also depending on financial trends and the guidelines of the bank.

The commissions

Many online personal payday loans do not include commissions, because their paperless application makes them easy to process and at a very low cost for the entity. Other banks, however, charge an opening or study fee, which is usually a small percentage of the total amount (approximately 1% to 2%).

The commissions that we are interested in knowing are also those of early payment or cancellation : we have spoken on other occasions of the advantages of canceling loans in advance even if there is a cost in the form of commission. Many entities allow you to pay off the loan before the term expires at no cost, you just have to find them.

Additional services

For example, some banks reduce 1% in percentage if the client, in addition to contracting a loan, opens an account. The best personal payday loans are characterized by simplicity , since sometimes the cost of these associated products ends up exceeding the savings that they apparently promise in exchange for hiring them. This also applies to insurance, a classic of loans and credits, which is neither mandatory nor, in many cases, recommended.

In addition, hiring additional services also implies one or more extra bureaucratic procedures, with the corresponding delays in the contract and receiving the money that is needed.

In conclusion

Who meets these requirements? Which entities offer loans at low or competitive interest, with hardly any commissions, and without the obligation to contract additional products?

The answer is good news: many! Once you know your profile and the type of personal payday loan you need, compare and use a financial alternative that fits perfectly and makes you feel as if you had chosen the perfect personal payday loan.

Loans for bad credit online -Get a quick and easy online loan for bad credit

Get a quick and easy online loan for bad credit

Loans for bad credit on the Internet can be applied relatively quickly. This could be particularly useful if you need money for unexpected purposes: some purchase or paying bills, or another option when you need cash urgently. Fast credits can be applied online within 15-30 minutes, depending on the lender’s ability to process credit applications.

Online loans for bad credit also offer longer repayment periods, for example, from 62 days to 3 years. If there is an opportunity to repay the loan early, fast loans offer such an option without paying penalty interest.

To apply for a quick and easy online loan for bad credit you need to visit Purple website. You need to fill out an application form. The process is not complicated.

Fast loans offer relatively small amounts of money to borrow. When borrowing for the first time, the amount of money is limited, however with a 0% commission or first payment starting from the 3rd month. A certificate of employment or a guarantee for quick loans is not required for loans up to $ 215.

Quick loans are available to residents of Latvia who are at least 18 years of age (subject to the lender’s regulations) and have a regular monthly income. Negative credit history is not available to clients with a negative credit history, but each client is assessed individually by lenders.

Loan applications are processed and, upon receipt of a positive response, money is transferred only during the lender’s business hours. Since many fast credit lenders work 7 days a week, we can say that fast credit is available at any time if you need to borrow money.

Consumer credit

Consumer credit

Want to get a loan of up to 10,000 USD cheap and fast? We know lenders who lend consumer loans online. Consumer credit information is available on the website and may help you to choose the fastest and best lender!

With a consumer credit, a customer can buy goods or services today, but pay later, paying monthly. It is an opportunity for the customer to buy a better quality product or service. There are a number of lenders of consumer loans in Latvia, with different loan amounts, repayment terms, and interest rates.

Compare and choose a lender that offers the best consumer credit on the internet!

Why choose a consumer loan?

Why choose a consumer loan?

A consumer loan is a long-term loan, which means it is a great solution if you want to borrow more money and repay it each month. Consumer loans offer a repayment term of up to 6 years. The consumer credit can be repaid early without penalty. Detailed information on each lender’s website.

A consumer credit can be drawn up relatively quickly, on average, within one business day. It depends on the lender’s ability to evaluate loan applications.

What is a car loan, car leasing?

What is a car loan, car leasing?

A way to buy a car or get cash against it. Financing is determined by the market value of the car, low interest rates up to 7% per annum.

Using a car lease or car loan, you can buy a car and pay later. Lenders may require the borrower to pay down a down payment of an average of 10% of the market value of the car. Occasionally, car dealers offer to take the old car as a down payment.

Monthly payments are made when you opt for a financial car lease, which pays the amount of the purchased car, resulting in the purchase of the car.
Operating car leasing is a long-term car rental with the option to purchase a car after the lease term for the residual value.

A car loan is an opportunity to buy a car by borrowing money from a credit company. The maximum loan amount is determined by the lender based on the market value of the car. There are several loan companies in Latvia that lend money for the purchase of new and used cars.

Car credit in one day

There are a relatively large number of lenders in Latvia offering to buy a car loan or get money against a car collateral. It is not possible to apply for a loan if the car is already on loan or leasing. However, if the loan or lease is low, it is possible to get a new loan that can be used to pay off the remaining loan or lease.

An auto loan is mainly available up to 90% of the car market value. Maturity up to 72 months.

There are no restrictions on a car loan, car make, color, etc., but the car cannot be more than 20 years old (see lender terms).

Choose the most convenient type of credit and fill out an application online or by visiting a lender. In case of a positive answer, a loan agreement must be signed.
It can take several hours to process a car loan, but the money is transferred on the same day as the credit agreement is signed.

Who can get a car loan?

To apply for a car loan, you must be at least 18 years old with a valid Latvian citizen’s or non-citizen’s passport, a permanent job and a regular monthly income. However, not all lenders provide loans to individuals over the age of 18, more information on each lender’s website.

Credit consolidation

When I borrow a quick loan, I think I’ll be able to repay it in a month. However, everyday things are different, and in most cases, they choose to extend the repayment term. Most lenders offer to extend the repayment term as many times as you want.

And the situation is that it is easier to extend the repayment term as the loans are repaid. The result is not a pleasant one, so combining credits is one way to pay off several quick loans.

Combining credits is easy!

Combining credits is easy!

When applying for a loan, you need to fill out an application and provide all the information required by the lender, including any quick loans taken and their amounts.
Upon receipt of a loan application, you will be contacted by a credit specialist to clarify the information required (additional bank account statements and workplace statements may be required).

You will receive a response within one business day. If the answer is yes, you will need to sign the contract. Only after signing the contract will the lender transfer the money to the fast loans.
What else is important to know? The lender may charge you a lump sum for issuing the loan. Its amount is determined by the loan amount.

Finally, there is the opportunity to pay off the quick loans

Finally, there is the opportunity to pay off the quick loans

Credit consolidation is a successful solution, so that you do not have to extend the loan repayment term every month. Now you can pay only one monthly payment!

The process of receiving loans

The process of receiving loans

The online application process allows you to get paid fast, even on the go or home.

  1. The offer.
  2. Application.
  3. Testing.
  4. Credit received.

Borrow responsibly

Borrow responsibly

Before you borrow a loan, compare lenders at annual interest rates that cover all of the total cost of the loan, including interest and other amounts. Only evaluate and apply for credit if you can afford it!


Penalties or penalties

Online loans for late payment can require a penalty ranging from 0.1% to 1% of the total amount of late payments for each day of delay. Some lenders charge money for a reminder letter and / or a one-time penalty payment in addition to the penalty payment if the credit is overdue. The exact cost of the delay can be found on each lender’s website, in the terms of the contract and / or by contacting the lender personally. Failure to make payments can cause serious problems and affect your credit history, making it difficult to obtain new credit. In the event of default, the lender may institute debt recovery proceedings or assign the claims to third parties.

What is the annual interest rate

What is the annual interest rate

The annual percentage rate of charge or APRC is the total cost of the loan expressed as a percentage, including all costs up to the date of receipt of the loan, calculated in accordance with the Cabinet Regulation of the Republic of Latvia of 28.12.2010. Regulation No. 1219. GPL does not include any charges payable for defaulting on a credit agreement. More information can be found in the Special Regulations of the Cabinet of Ministers of the Republic of Latvia “Consumer Credit Regulations” or on the website of the creditor.

Example: When borrowing $ 300 for 90 days with a credit extension, the commission is $ 71.41, the APR is 269%, the total repayment is $ 371.41.

The minimum APR is 8.9% and the maximum APR is 429.46%. Loans from $ 50 to $ 15,000 for a period of 62 days to 72 months.

Maternity Leave Loan

The maternity leave loan may not be unreachable, applications are assessed individually.

When you have a maternity break, these are the happiest moments in your life. Several years spent at home with children, constant care for them, the joy of growing like water and having a good time. But it is also a time when the family budget is relatively tight and each dollar must be counted. In some cases, a short-term loan is even needed. And don’t worry, nothing is ruled out beforehand. We consider each application entirely individually.

Money within a quarter hour, you can immediately to an ATM

An internet loan is very convenient for women on maternity leave. They do not have to go anywhere from children, take care of babysitters, or take them with them to a branch where they will not be able to entertain themselves meaningfully and will be more angry. This way, you only have to have a mobile phone or tablet at hand, even in this way the online loan can be easily handled. No later than fifteen minutes after the application is approved, money will be credited to your account, so you only need to log into your internet banking or walk to the nearest ATM. Nothing will be delayed, only a small amount of personal data will be sufficient, it will certainly be processed today …

The loan approval is completely individual here

The loan approval is completely individual here

A loan for women on maternity leave is, of course, a matter for discussion. We at SOS Credit provide a similar loan entirely individually, depending on the family relationship and, of course, the applicant’s income. In practice, this means a single, too small family budget income that would entail a ticket to a debt trap actually means that the loan will not be approved. It is in the full interest of the applicant, who will not get into trouble and will have enough time to obtain the money in another way. For example, family or acquaintances can help, but a non-bank loan in these cases will not be the happiest solution.

There is no need to explain the reason

maternity loan

Whether it is the purchase of food or hygiene products, or the payment of half-forgotten money orders, it does not matter at all. In the non-banking sector, it is practically indifferent to what you borrow, the important thing is that everything is repaid in order. Of course, it is absolutely appropriate to calculate everything thoroughly, with the money you have to go out and have a sufficient margin of payment for other unexpected expenses. Alternatively, the partner with whom you live in the same household may apply for a loan. If he has a well-paid job, he has a high chance of approving the application without the slightest delay and delays. A hand loan is also a solution.

The benefits of an internet loan are clear

There’s no need to walk anywhere, no phone calls. You don’t have to be nervous, because a quick loan will come to you – and never the other way around! Of course, mothers on maternity leave have free time, but they spend most of the day looking after children and cannot afford to go to the nearest county town to apply for a loan. That is why it is much easier to apply via the short contact form via the Internet. And what needs to be demonstrated?

  • First and last name, permanent address. We lend to Czech citizens as well as persons who have permanent residence permits in the Czech Republic. So it can really reach every applicant.
  • Receipt confirmation. In this case, therefore, the parent’s acreage or bank statement to confirm receipt. If necessary, we will also assess the income of the whole household.
  • Own bank account. Anywhere in the Czech Republic, or a proven right of disposal to the bank account of a third adult.
  • Debtlessness. In any case, we only lend to those who can afford it. This means that if you already have debts and are a step away from the debt trap, unfortunately we will not be able to satisfy you.