Debt Consolidation-How to make the transfer of debts?

Take the rope off your neck: learn to do a debt transfer now!

In recent years, many Brazilians have taken advantage of the easy credit offered by banks to materialize the dream of the zero-car or the home. After the euphoria of a boom period, what is observed in the market is a very different scenario, with higher interest rates, restrictions on the granting of financing and an exponential increase in the default rate.

Are you one of those in the network? Look at your spending spreadsheet and no longer know how to get rid of debt? Do not let your problem become snowball! Often, financial rebalancing can come in much simpler than you imagine, for example through a simple debt transfer!

What, after all, is a debt transfer?

What, after all, is a debt transfer?

Called “portability of financing”, debt transfer is the change of your debts, from one bank to another, maintaining the same basic conditions of the previous contract but with the advantage of obtaining lower interest rates. This possibility has existed since 2006; however, has never been stimulated by the Central Bank, nor is it disclosed by the banks.

If you’ve screwed up and no longer know if you’ll be able to pay installments, refinancing vehicles or moving your property financing to another institution could be the start of a turnaround in your year!

Criteria for transferring debts: what can I transfer?

Anyone can transfer their car financing debt or real estate financing (however, in the latter case, the property must be ready.

How do I identify if I need to transfer debts?

How do I identify if I need to transfer debts?

The high competitiveness among banks means that the rates practiced in the market vary greatly from institution to institution. The constant oscillations in the Selic rate (referential interest rate in the country) also stimulate frequent changes in the rules and interest rates practiced by the largest banks in Brazil. This requires borrowed commonplace research on what indexes are being used. But a lot of attention: not always the public banks have the lowest rates.

In a strategy to attract customers, many private banks reduce their rates to near market indices (such as Caixa, which holds 70% of real estate financing in the country). The objective is to bring to the institutional clients capable of acquiring diverse banking products (such as credit cards, investment funds, and capitalization bonds).

The rule, therefore, is to always search! If you have found a lower rate, this is the time to change the lender! Remember that we are compound interest (that is, any small difference can be a huge saving!).

Step by step to exchange financing

  1. The first recommendation is to have total attention with Total Effective Cost – CET! This is the benchmark that will indicate the weight of your financing since it includes the nominal rate, administration fees and insurance!
  2. Central Bank Resolution No. 4,292 / 2013 (which provides for the portability of credit rules) does not allow any IOF charge on the change of creditor. Attention redoubled to be deceived!
  3. The whole procedure of transfer of debt is carried out by the bank in which the financing was initiated, not by you.
  4. Beware of the “married sale” costs: Many banks offer lower rates, but instead impose on the customer the purchase of a range of products or services that may invalidate the benefits of switching institutions. This strategy is illegal.
  5. The bank that will “lose” the debt can not retaliate against it for its option: if there is a sanction imposed by the home bank (such as a credit card lock or reduction by special check), report the institution to the Central Bank Ombudsman, through the website.
  6. Just remembering, once again: only the interest rate changes. Deadlines and outstanding balance remain the same!
  7. Banks have only 1 business day to provide the information requested by the client in relation to their debts.

Why not opt ​​for a verbal debt transfer?


These are the so-called “drawer contracts”, more common when the debtor wants to pass on his debt to another person, without, however, notifying the most interested party: the bank. Recall that this practice (verbal agreement of assignment of rights and obligations) has been illegal since 1964 and the indebted person who insists on this can be punished with the loss of good, in order to anticipate the payment of installments to be overcome, in addition to the complete restriction credit for 5 years.

In the case of the transfer of creditor, this practice does not apply, given the extreme control of banks in relation to their loan and financing agreements.

Do the transfer conditions change from bank to bank?

Do the transfer conditions change from bank to bank?

Yes and no! The terms of transfer are regulated by the Resolution of the Central Bank and may not vary from one institution to another. For example, if a bank charges you with IOF to make the change, report it because it is an illegal practice.

What changes is the rate applied from bank to bank, which makes this kind of feasible procedure. As an example, currently the CET of real estate financing at Debt-Loan Economic circulates at around 9.80% per annum. By making a simulation under the same conditions as those used at Caixa’s website at Santander, we reached an impressive 14.28% pa (go to 2 sites and compare yourself)!

See how you can make your pocket happy with a little research? No laziness, your financial health thanks!

Which bank to choose to make the debt transfer?

Finally, after understanding what, the conditions and advantages, now lack to know which banks make the transfer of debts.

The Central Bank mandates that all banks carry out the portability procedure, should the customer request it. However, the target bank is not obliged to accept the debt (although the interest gain means that virtually all financial institutions now receive funding from other banks).

Bank of Brazil, for example, has a simulator on its special page on debt transfer, through which the client can compare his car or home financing with that offered by BB. From there, just look for a local agency and receive all the necessary support to make this viable procedure. Debt-Loan Economic , Tatoloan and Pastenloan also have similar systems.

The sale of the debt to another bank may be viable for many Brazilians who have the rope around their necks. However, it is worth remembering that just changing the lender is not enough. Learning to make a strict financial control, having personal spending spreadsheet always updated, and not spending more than what you receive (savings culture) are key elements to get the rope around your neck for once!

Mortgage lending test 2017: cost differences of around 30,000 euros

Test has searched in its current construction financing test 2017 for providers with top conditions for home builders and buyers. The result: In the test winners, they can save tens of thousands of euros depending on the loan amount. But borrowers should not rely on the investigation alone. Also in 2017, only an individual comparison shows the best mortgage lending.

Test has reviewed a total of 76 banks, insurers and credit intermediaries with regard to their conditions in the past twelve months for various model cases for the current Building Finance Test 2017 (Financial Test 1/2017). The experts’ thoughts: If a bank was one of the lowest-priced providers in 2016, then the excellent conditions in 2017 are unlikely to change . A striking feature of the study is that the regional mortgage lenders can barely keep up with the supraregional ones. Only with a fixed interest rate of 20 years will Freie Financier München land as a regional provider behind Hypovereinsbank in the front seats.

Mortgage lending test 2017: High cost differences between the offers

In order not to achieve a one-sided result, Test not only calculated a model case in the Baufinanzierung 2017 test, but also used three loan sums (150,000 euros, 200,000 euros and 225,000 euros) and three different fixed interest periods (10, 15 and 20 years). The test results impressively illustrate why future homeowners should not waive a comparison in real estate financing. Between the best and most expensive offers, it can come to interest rate differences of 100 percent – or around 30,000 euros – especially with a long interest rate. Those who need an even larger amount of credit for their dream home, as considered in the test, pay by choosing the wrong mortgage lender even more at superfluous interest rates.

The Test experts used the interest rates of the banks over the past twelve months for their mortgage lending test. The providers with the most top rankings in this period reach the highest rating.

Best mortgage lending in 2017 compared to ten years fixed interest rate:

  • Enderlein
  • Planethyp
  • HypoVereinsbank
  • Santander Direct Bank
  • Targobank

Mortgage lending in 2017: interest rates could rise again in the medium term

Buying a house is not an acquisition that you can prefer or postpone. However, currently speaks for a lot, not to wait too long with your own property , if the possibility exists. On the one hand, real estate prices continue to rise in many places, whereas in some regions they are now stagnating. Increases in value of the house are no longer a guarantee. On the other hand, there is the possibility that interest rates could rise again soon . This will make house financing again more expensive. Therefore, it makes sense to start buying a house or apartment now.

The Steps To Recovery Using A Credit Repair Company

Obtaining a loan isn’t as easy as this used to be

It takes a lot of procedure for getting into the home of your desires. But the good news is that in case you make the right moves, you are able to own a gorgeous home to get a fraction of what it could have cost you several years ago.

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Set two hrs a day for working on your finances. Speak to the bank and let them know your situation. As they know about to catch a crook, and had not really intention to take their cash, and they know your credit history, nearly they want you to have a great future, they want to get their money back! So it’s in their interest to become understanding. They will give you a period so that you won’t have to proceed bankrupt. This could be the end of the debt trauma. Bankruptcy is really a certificate that will always keep borrowers away from you.

If the debtor will be put in a Chapter thirteen bankruptcy they are required to preserve a household budget during the 3-5 year repayment plan

Some individuals decide that Chapter thirteen bankruptcy would work best for their particular situation to protect assets. Whilst filing a Chapter thirteen, the court will find a trustee to monitor the particular finances of the debtor because they relate to the bankruptcy situation. The court requires these filing to be responsible for carrying out a plan to get out of debt within no more than five years. For a lot of, this makes Chapter seven sound like a jewel. Initially, Chapter 7 sounds like the no-brainer if you qualify. Even though, everything is not always just like it seems.

A person is said to be bankrupt when he is not really in a situation to pay back their debts and liabilities even with reaching the last consequences. This particular declaration is discharged with the court. Bankruptcy is a very deteriorating situation and remains regarding ten long years on this credit report. Here is a solution to the bankruptcy credit repair. With this, you require counseling sessions simply by government registered consultants prior to six months of filing personal bankruptcy relief. After you get respite from your bankruptcy credit restoration, you should work o brand new beginning for building a great reputation in the market. Creditors usually require credit scoring of the person to know whether she or he is trustworthy enough to provide credit or not. You should always keep your credit score in such a way that always increase credit score.

I believe credit counseling is worthless. If their main benefit would be to negotiate with your creditors to lessen your rates, then perhaps you should do it yourself? Why adversely have an effect on your credit unnecessarily?

Otherwise, for the small amount required, you have the option of the unsecured type that is a little bit difficult to obtain, but not impossible. You need to display to your lender that you can repay the loan amount promptly. The lender gives you small amount right here.

How To Rebuild Your Credit

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Payday Loans Online Online Cash Advance Online Payday Advance Money – The Good Messenger

Nowadays, payday loans are accessible inside of the financial market persons. If you are salaried persons and looking for the right financial solution you should prefer payday loans no credit confirm. This loan comes with no no checks on your credit score procedure. Thus, conveniently having poor credit history, it may be possible for you to avail such loan with ease. Also, it is quite flexible to be able to avail such loans via online progress.

Finding financing to have a business to the next level can be hard in these less than robust financial times. Now you ask, just where to take into account desperately need money? The venture capital market is on the ropes, so most want to angel market players. The question you should have is when are these angel investor deals placed?
One particular benefit about each one of these lenders stepping in to fill monetary needs in the average American is that borrowers have the opportunity to select among your crooks to find necessarily the most effective interest rates and repayment plans. Let’s consider five simple measures you should take to get yourself a lender of choice for payday loans who is willing provide legitimate, unsecured personal borrowing.

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If we take the $1 trillion in deposits out for this M1 amount shown inside of chart above, the money supply drops to below the GDP (red line), just all of them has been for slimming 10 quite a few years.

Several pioneering efforts have already been executed by both the NSE of India and BSE of India, elevating the position of the Indian capital market you can buy a map.



What If There Weren’t Any Mortgage Agencies?

Be sure the payday lender physical training has a healthy standing. There are shady cash advance businesses who use unethical collection methods, intimidation, more importantly, threats your truck or car does not repay your loan on the era. The reputable payday loan companies will just charge you more money if rather than settle your bank account on the due deadline.

The Mission Federal Credit Union, the second largest credit union in San Diego County, has set up a program for taking and encouraging donations for the Zoological Society of The San Diego area for the endangered group.

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If you’ve got social security number, can easily own a Savings Bond, if you: are a resident among the United States; are a citizen of the US living abroad, but possess a US address; are a civilian employee of America. Minors may also own savings bonds.

Green Coffee Bean Extract peruvian coffee origins

Most coffee “addicts” come in research of an ideal cup of coffee. Stores are searched for the many variety of beans to try out, different practices of roasting are employed in addition to a variety of brewing methods, all with a watch to make coffee’s perfect cup. Eventually you’ve identified precisely what you looked for.

Coffee Ganoderma iss organized using Reishi mushrooms. Reishi is really a mushroom that develops within the Eastern Asian countries’ woods. This mushroom has been considered as the wonder drug for hundreds of years while in the countries like Japan and China. The Chinese and Western emperors used-to eat the components of this mushroom using their tea to be able to get energy and longlife. It obtained it by surprise and has recently entered the medical world of the West. Ganoderma Lucidum is unhealthy to taste. These are first soaked dried, boiled and powdered in order to make sure they are helpful for human consumption. It’s subsequently that thorough planning helps to deliver the coffee and nutrition sides together.

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Another of the incredible caffeine benefits is the fact that it will help maintain the risk of gallstones, diabetes, Parkinson ‘s, some cancers and also heart problems. It’s been proved that coffee-can reduce cavities and ease the stress of asthma. Are you aware that caffeine can be perfect for muscle stimulation ? This means that for it frequently, you will have lesser danger of constipation because you caffeine can also be going to make the digestive system muscles energetic, hence making bowel movement easier .

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