Economy and Business Info

Archive for the ‘Credit Tips’ Category

Traditionally, there is talk that the bank concerned to the “five C: character, capacity, capital, collateral, conditions. Credit Reports. The Bank will assess whether you are “paying off debt” through your credit history. With the economic crisis, banks are much more demanding this and demanding payment history should be almost free of late payments and debts.

References and credentials. Banks may want more information about who you can get general information via a personal or professional reference, beliefs, etc…

Do you have enough money to pay debts?

Money available. This is important for banks – and for you! -Be sure to have enough money to pay back the loan. Get front of the bank and do the analysis includes not only your income, but especially your spending.

Income stability. Do you have a stable income? If you have a job, more stable industry that works better. Remember that the financial industry is one of the most at risk are present.
Other concepts

CAPITAL: How much money you could generate if you have a need?

Assets. If you sell all the property and will pay for and collect all your debts, how much you have left at the end? The Bank will provide crucial to this because it is an indicator of how much money can you get if you’re in trouble. During the economic crisis, many people have lost their capital. If you have your capital intact, it will help a lot in the application.

Capital invested in a company. If you are applying for business loans, capital you have invested personally in the business is an indicator of how much risk you put on your part. The banks prefer to share the risk!

What can you offer as collateral for your loan?

Persons signing as collateral. A good alternative is to find someone to sign their loan guarantee. That is, one who undertakes to repay the loan if it is a case that cannot pay you?

How the economic crisis affecting you?

Economic climate. In the current economic climate, one of the bank’s concerns is that you lose your job or your business. If people lose their homes, their businesses and jobs, the bank will take into account the risks that might exist among those affected. For example, if the industry’s most affected by the financial crisis, consumers and banks will be more sensitive to the risk if you work in these areas.

The activities related to reform and rehabilitation is an important source of activity and employment generation in the construction sector, and increasingly has more relevance in the future. Therefore, the employer’s property in the province, FEPECO, wants to facilitate the development of these activities promoted by the Federation to launch a new service, the Register of Enterprises Reform and Rehabilitation, “as a point of meeting professionals, businesses and consumers.

This initiative aims to encourage employment in the construction sector, the legal economy, the professionalization and better-qualified workers and job security. It is an action aimed at some 1,500 companies and over 8,000 workers.

In addition, FEPECO aims to help find jobs for the tens of new businesses and micro enterprises that are being formed in recent months by workers and technicians. FEPECO not only made available to these new companies all its services, and specialized information in the extensive and complex legislation regards the construction sector, but also training and handling the construction professional card, TPC, compulsory for next year in all activities of the sector.

This Business Registration Reform and Rehabilitation is to articulate a professional group, allowing FEPECO inform companies of any sector, residents and consumers, offer specialized and certified in this kind of activity present in all islands of the province and help the survival of new firms, and to provide greater legal certainty and professional customers who want reform.

Start new stages in our life has something special: they are unique experiences that account for our growth and personal or professional development.

But all this comes with new responsibilities that are not always analyzed with the attention it deserves while giving firm steps forward, for example, to order our first loan. Something big, right?

A good start in your financial life will open doors to future, while a negative one you could restrict credit. Before you sign on your first credit card, take into account:

Your income. Need verifiable income that will give you access to different types of credit such as personal, commercial or mortgage and other financial products. The income you get from the hands of your parents, uncles or grandparents how to “Sunday” do not count for this purpose.

Your expenses. Analyze what you really need and separate it from what you have to prioritize and organize your expenses. Remember also to save a portion of your income will help cover emergencies or needs more but you stay in bankruptcy.

Your borrowing capacity. This is the level of debt that you can get without falling into arrears. In proportion, procuraque your debt does not exceed 30 percent of your income. Also, as you get your debts by liquidating previous increase your ability to pay. Read the rest of this entry »