Payday loan and centralization of credits

When you take out a loan, it is better to be sufficiently informed. What are the conditions, what is the total cost…? At Lite Lending, we offer credit transparently. We protect the consumer and inform them in detail. As in this blog for example, where we discuss payday loans and centralization of credits. A summary is on http://www.dawnforgovernor.org/back-taxes-due-to-irs-now-gathered-by-private-debt-collectors/

The ” Consumer Credit Law “, which governs loans, mentions what is possible and what is not in terms of credits. Its objective is to guarantee transparency and protect the consumer when taking out a loan. As a credit broker, this is also our mission. If you take out credit at Lite Lending, you know what to expect.


What is a payday loan?

personal loan

With a payday loan or installment loan, you can borrow a fixed amount that is immediately available to finance your personal projects or purchases. This is usually a relatively small amount. Think for example of a budget for a trip, a party, a car, a smartphone, the cooling of your garden or your accommodation…

With a payday loan, you don’t have to pay everything all at once and you keep a clear overview of your expenses. So you know exactly what you are paying and when your loan is paid off. Each month, you repay a fixed amount (interest and monthly payment), at a fixed interest rate over a defined period. For a payday loan, you do not have to own property.


What are the conditions?

personal loan

To obtain a payday loan, you must have a fixed income, be a natural person, be at least 22 years old, and be able to demonstrate that you are the originator of the request. The capacity of your loan is also essential. Are your incomes in balance with the charges? In other words, are your means sufficient to be able to repay your loan? Please take into account all the total costs! Warning, borrowing money also costs money!

Please note: lenders are required to verify your credit history with the CCP. The government protects the consumer by setting a maximum interest rate.


Centralization of credits

personal loans

You can have several credits in progress and therefore pay several monthly payments. Ultimately, this can be heavy and confusing. And if the relationship between income and reimbursements is unbalanced, a centralization of credits can then be offered to you. All of your credits are then combined into one credit. You pay only one monthly amount, you have a fixed interest rate and you can lower your costs. Keep in mind that the duration is extended!

Think carefully when you take a new loan to combine several loans. Also check if your new credit is really better. Is the amount loaned the same, what is the duration, the amount to be reimbursed, costs included, is it feasible? Be aware that it is not enough to compare only the rates. Inform yourself well.


Understanding your credit with Lite Lending

Understanding your credit with Lite Lending

Correct support is important when you take out a loan. In this way you will find the right loan for your situation. Your Lite Lending credit broker helps you make your choice and also provides you with sufficient information regarding the interest rate, monthly charge, ideal duration, repayment capacity and additional costs. You thus have a clear vision of the situation and you avoid unpleasant surprises.

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