Sometimes, personal finances need a boost that allows us to make ends meet smoothly or continue our dreams without financial hardship – personal loans are for that. The steps to obtain a loan are very simple. Not only because you can order it online, but also because you don’t have to worry about anything else once requested.
Here are the five things you should bear in mind after taking a personal loan:
- You Can Request Credit Insurance
Credit life insurance will give you peace of mind that your loan will be paid off, especially if an unexpected accident occurs. If you do not have it, you can ask us for one when requesting your loan, although some banks also give you the freedom to get it separately.
In case of not complying with hiring, renewing or readjusting said insurance, they take the liberty of hiring it for you and including its cost in the installments of your loan.
Another point to keep in mind regarding credit life insurance is its terms and conditions. These must be equal or superior qualitatively and quantitatively to the insurance offered at Crawfort Finance, where the sum insured covers, at least, the amount of the bank loan that you have requested. And if the requested insurance is of a joint type, your partner must also order a life policy that has coverage and a similar or greater insured sum.
- Do Not Delay Your Loan Payments
You must avoid falling behind in the payment of your installments. Otherwise, in addition to the interest and extra charges that will be applied, your credit rating will deteriorate.
In other words, you will enter the credit bureaus with a negative classification, and you will have a history that will affect your future credit requests in the financial system. This is something that we cannot avoid because it is part of the Regulation for the evaluation and classification of the debtor and the SBS Provisions requirement.
- Always Keep The Financial Guarantee Informed
The person who was your guarantor must be aware of the current status of your personal loans at all times. This way you can request a proof of no debit at the right time, and you will have no problems with your credit history.
Once they cancel all your installments, they will have the right to request the delivery of the signed “title security” or proof of “cancellation of the obligation”. Only then can he charge you for the help provided.
- Having A Loan Does Not Mean Being Tied Hand And Foot
A personal loan is a relief that comes in the most difficult moments of our lives, even in those where the results are less desired. If this is the case, the beneficiaries must contact their banks within a stipulated time. And also, they must present the following documents:
- In Case of Death: Certified copies of departure and death certificate, police report, autopsy protocol, toxicological and alcohol analysis, and a copy of DNI of the deceased insured, in case of death by accident.
- In Case of Total Disability: Complete and detailed report of the treating physician that supports the condition of the patient and indicates the start date of his or her situation.
- You Can Make Your Payments On Time
You can program your card so that your fee can be collected automatically. Make sure that the account to which the collection will be charged is in the same currency as your loan, belongs to you and is not a CTS account, mutual funds or an installment account.
In addition, you can end the contract whenever you want. If you want to end your contract, you can do it whenever you want, but you must notify your bank in writing. However, you should neglect if you have an outstanding balance, as it will not be an impediment.