Click Let’s Lend Money Without Promissory Notes

Nowadays, it is seen that many people have trouble with cash from time to time. This situation has a negative effect on morale and motivation for both the person and the people around him.

In this regard, the fact that every person finds a way of interest depends on the correct functioning of a natural process. Any reason for the person may cause it to be in need of cash. For cash needs, an attempt can be made to borrow money in order to meet the need that is there.

The lender or institutions aim to make a secured trade

The lender or institutions aim to make a secured trade

While borrowing money, the lender or institutions aim to make a secured trade by filling in some documents so that both the person and the lender do not become victimized. Choosing the right person or institution to borrow money is of great importance for the person in need of cash.

Although banks are generally preferred to meet their cash needs today, in the light of a number of legal procedures, legal persons are now lending money. For people in need of cash, finding a loan with the deed is one of the ways to be applied in case of any cash need arising.

With the promissory note, it is aimed to choose the easiest way to repay the cash that the person has received, based on a certain payment period between the person in need of debt and cash and the person who will meet the cash need. The type of periodic payment that the banks have made with the applicants to take out loans from them, is like buying and paying back.

The features of a contract regarding the interests of the borrower

The features of a contract regarding the interests of the borrower

When the debt is to be borrowed, the deed, which has the feature of a contract regarding the interests of the borrower and the creditor, and a deed debtor for each paid amount and installment is provided to him and followed up.

This is one of the most frequently used ways of obtaining debt money through legal entities without applying to any institution. When you are stuck with cash or when a need to be met with cash appears, you can borrow money with the promissory note method and easily meet your cash needs.

You do not need to apply to an institution for your cash needs. There are many people around us that provide this opportunity. One of the different options you will consider for all your cash needs.

How do banks determine their credit rating?

To get credit, of course, you need to meet some criteria. Do you have any information about the credit rating, a sweat we have heard in recent years? How to determine the credit score, who keeps the record, what are the criteria.

The Central Bank monitors and records the financial information of all citizens for use in determining both statistics and financial strategies. These data Treasury, Ministry of Economy, Ministry of Finance and Turkey Statistical Institute is committed to the database.

You can think of this data as a National indebtedness database

You can think of this data as a National indebtedness database

Of course, the provision and recording of the data are under serious control within the scope of the protection of personal data. It is not accessible to everyone. Also, person-based information can be displayed anonymously, even by unauthorized institution officials. In other words, when viewing statistical data, contact information is not accessed.

Another institution that has direct access to this database is the Credit Registration Bureau, which records all the laws of citizens regarding banks. In fact, KKB data is provided by banks, not by the state. Because the credit registry office is a private enterprise where data traffic is processed between banks.

Credit Registry Office was established in 1995 as a joint venture of banks. The aim is to provide accurate and fast credit intelligence when citizens apply for loans. Nowadays, with the developing technology, access to the data has accelerated, and the credit research processes of the banks have been significantly shortened.

Credit registry office contacts cannot access every information

Like the Central Bank and other public institutions, it cannot access all financial transactions. It is only possible for individuals to access any data other than their relationship with banks within the scope of the protocols implemented with the relevant public institution.

KKB credit rating is also one of the many credit allocation decision factors determined only through the relations with banks. In addition to this factor, the banker must have access to a number of different data while allocating credit. While credit allocation is made, besides KKB status information, debt inquiries are made through the Ministry of Finance.

With the evolving digital age, access to a lot of data is now very easy. Until 10 years ago, people’s debt inquiries could hardly be made on a judicial scale, and some mistakes could be made in loan allocations. Especially since the debts transferred to the judicial justice could not be questioned, credit allocations were made to individuals with debts that were not visible in the bank records, and serious problems occurred in credit returns.

Thanks to the new generation of information technology, this problem has been eliminated, and thanks to the serious supervision of the credit purchasing process supported by the state within the scope of national economic strategies, the state is now able to access almost any data based on the authority to be granted by individuals who want to take credit.

The minimum conditions set for obtaining credit are actually very clear

The minimum conditions set for obtaining credit are actually very clear

First of all, your credit or credit card accounts in any bank should not be in a state of delay. Also, delays to be displayed in your last 6 months payment order will cause your credit rating to decrease.

The credit rating is based on a system in which the order of the financial relations of the individuals with the banks is followed. Your grade increases or decreases depending on your payment habits. Banks or other organizations cannot know your income because your income status is information that is not available from any source. Only documents containing income information that you will transmit to banks are effective.

In this context, if you are going to make credit transactions with banks for the first time, you may not get high amounts because your credit rating is undefined. However, the regular payments you make after the first credit or credit card you will receive will make your grade increase systematically.

Follow These 4 Steps to Get Rid of Your Credit Card Debt

How can I make a new start? –And how can you remain without debt?

Consumer Loans Independent Advisory Agencies Association President Jonas Dunes said, “The focus of getting rid of your debts lies in making a budget.” says.

 

Get organized

credit loan

For this, you can start by first matching your monthly income and expenses, and you can add the minimum payments that you have to pay on a monthly basis. To help you get organized, you can also consider using the bank’s online and automated bill payment services for your recurring payments every month. Then, check out what your regular expenses are, such as cable TV or eating out.

Then, see how much money you have every month after your monthly recurring payments with the highest interest rate on your credit card statement. For example; If your card has a debt balance of 6,000 USD, which applies an interest rate of 18 percent, instead of paying 200 USD per month, pay 300 dollars and thereby close your debt in a faster period of 17 months, and you will save over 800 USD from interest.

 

Consolidate your debts

Consolidate your debts

Consider transferring all your debts to a card with the lowest interest rate, rather than running around and stopping between a few cards. For this you will have to pay a transfer fee – usually 3 percent – but in this way you will reduce your total interest burden. Meanwhile, it will be easier for you to manage your debts, and because you also have a single card, you will reduce your risk of skipping any payments.

 

Claim a lower interest rate

Claim a lower interest rate

You might be surprised when you see how flexible card companies can be. You have a very high chance of turning off your phone with a significantly lower interest rate with a single phone call. This will save you hundreds or even thousands of USD – and help you end your debt faster.

 

Once you see your debt balance at zero, always try to keep it at zero

Promise yourself to cover all of your credit card debt every month. Keep keeping your budget, so you won’t spend more than you earn. Also, keep an amount of money to cover your few months’ expenses easily, keep it separate, so that when you encounter an emergency or dismissal, this will prevent you from returning to the debt swamp.