A loan is a way to spend today what will be earned tomorrow and the day after tomorrow, or will not be earned at all. But if it is necessary, a properly taken loan will allow you not to go bankrupt after it is paid and not to sell property in order to pay off the debt to banks.
Instructions
Step 1
First of all, think carefully about whether you need what you are going to buy. If you don't need it here and now, you can just save up for a purchase. If it is a luxury item, it is quite possible to do without it. A loan is beneficial only to financial organizations, for ordinary citizens it is always an overpayment and unnecessary worries. Soberly assess your financial ability to repay the loan. Consider whether you can make payments if a crisis strikes, if you lose your job, or if there is any other trouble. As a rule, these troubles come unexpectedly and do not depend at all on the wishes of the borrower. When purchasing something on credit, be sure to have some kind of financial reserves - money savings "for a rainy day" or additional sources of income.
Step 2
Do not take a loan from the first bank you come across. Study the proposals of all organizations thoroughly. Immediately dismiss offers from banks that are too far from home or work. Pay attention to the work schedule of the institution, the number of branches in the city, the availability and remoteness of places where you can make the next payment. Find out in what ways you can make payments without commission - the more, the better. Many banks have a standard loan agreement on their website. Read it until every letter of this document is clear. Find out the meaning of all dubious and incomprehensible phrases from a loan officer. Better yet, take this agreement to a lawyer and ask him to point out all the pitfalls and ambiguities.
Step 3
Be sure to find out what will happen in the event of a delay in payment and in the event that it will no longer be possible to pay. This issue can be clarified both at the bank itself and on the Internet, according to the debtors' reviews. Keep and never lose all documents related to the loan: agreement, all its attachments, payment receipts. Do not take out a loan in foreign currency for anything, even if the interest rates on them are very low. Never give bank employees the phone numbers of your boss and relatives. Even in the event of a delay in payment, they will be bothered, and you can quickly lose your job and ruin your relationship with your family.
Step 4
If there is an opportunity to repay the loan ahead of schedule, use it. After repayment of the loan, make sure that the loan account is closed. Better still ask for a document stating that there are no debts to the bank, and he has no claims. Until you pay off, always have in your stash an amount equal to two monthly payments, on a mortgage equal to six payments. In the event of force majeure, this will save you from problems. In the case of a credit card, connect to all remote services - Internet Banking and Mobile Banking.
