I delayed the installments of the loan, now what?

When making a loan with some financial institution or bank a contract is signed that has all the necessary information, one of them being the consequences in case the delay of the payment of the loan occurs.

Therefore it is indispensable to read this document and also to analyze if the interest rates charged will fit in your budget.

If it does not fit, what happens when you delay the loan repayment?

If it does not fit, what happens when you delay the loan repayment?

Although only the contract signed with the company determines, it is possible to know the risks that this delay brings. In a loan as well as collateral, for example, it may be that the good is taken away borrower. On the other hand, in other types of loans this delay can generate a negative CPF, in which the customer gets the “dirty name”.

There are also cases of agencies that offer contract discounts to customers who take their installments on schedule, and this benefit can be lost in late payment situations.

In real estate financing, the loss can be even more severe when fiduciary alienation takes place, where the delay of more than three installments of the loan leads to the acquisition of the property by the bank branch.

Can not afford it? See what to do

Can not afford it? See what to do

You made the decision to make a loan or financing, but did you find it difficult to pay the installments on time? In this situation it is necessary to reflect and discover the available alternatives. Renegotiating debt may be a good option, but there are cases, such as the financing of assets, that perhaps the sale of this asset is the most ideal alternative.

What to do if you have money left over?

What to do if you have money left over?

On the other hand, if your budget is well organized and you have managed to save enough to anticipate the installments, ask for a discount calculation with the financial one and analyze if you consider the advance payment to be favorable.

It is important to remember that you have to think hard before taking any kind of credit, because in this type of commitment there is nowhere to run. Plan well this decision and make sure to be with your finances organized; additionally, examine whether the loan such as interest will fit in your budget when making a simulation.

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