MonthDecember 2019

How to adapt to a sudden loss of income? – Apply for a loan now!

 Causes of loss of income

Causes of loss of income

Whether you are an employee on a permanent contract, an employee with a fixed-term contract (CDD) or that you multiply more precarious contracts (such as temporary work), no one is immune to loss of income sudden.

Because of an economic layoff, an accident or even, in a less dark register, a professional retraining, your income can suddenly change. Whatever the reason, the result is as follows: you will have to deal with a reduced budget in the coming months. Don’t panic, take a look at your finances and study together the solutions to reduce the impact of this loss.

What methods are available to you to compensate for a loss of income?

What methods are available to you to compensate for a loss of income?

First step, faced with a loss of income, learn about your rights. Depending on the source of the loss, you may be able to benefit from state aid. If you are sick, it will be Social Security benefits, if you are dismissed, unemployment benefit…

The only downside of these aids: like any administrative process, they require the creation of files. They can therefore take up to several months to be processed. Be aware that in most cases, the date of the first filing will be taken. You will therefore be reimbursed the amounts due to you during the processing period.

How to reduce expenses to a minimum?

How to reduce expenses to a minimum?

Besides aid, it is expenditure that must be tackled. It is important to reduce them, in order to adapt them to your new income. Many organizations have programs designed to accommodate clients in financial difficulty.

Contact your creditors. With a certificate proving your situation, EDF offers, for example, a First Necessity rate. Even if you do not think you can get a reduction in your charges, it is always good to keep creditors informed during financial difficulties.

They will be all the more inclined to grant you payment terms if you do not put them before the fait accompli. Here are some expense items that you can easily reduce:

  • Credit monthly payments. If you have a loan in the process of being repaid, you can renegotiate it and reduce your monthly payments. You can also consider consolidating credits and completely reschedule your repayment. Certain contracts allow the repayment to be paused and to be shifted accordingly for one month or several months;
  • Reduce your daily expenses. You will not be able to stop eating, of course, but you can for example consider stopping a satellite TV subscription, or reduce your consumption of video games, or even music or cinema offers. A good opportunity to find offers at lower prices, sometimes with better value for money;
  • Talk to your banker. Your financial advisor can suggest specific solutions to make up for your lack of income. He can increase your overdraft or offer you a bank card suited to your needs.

How to anticipate a possible loss of income?

How to anticipate a possible loss of income?

We have seen the solutions to act after a loss of income. It is also possible to anticipate these difficulties. If you cannot foresee an illness or a job loss, you can however take some security measures today as far as your finances are concerned.

Establishing a budget for each of its monthly expenses and recording its expenses is therefore a step in the right direction. This eliminates any unnecessary purchases and takes stock of its resources.

Thanks to this clear vision of your budget, you will be able to reserve part of your income to place it on a savings product and avoid overdrafts. Even if you manage to save only a few USD every month, they will be available in the event of a hard blow. Finally, limit your debt and for each of your credits remember to check the extent of your insurance. There are no small savings.

Student Loan – Get cheap loan now

Schoolchildren will also have consumer preferences, regardless of whether an iPhone, branded clothes or a scooter is required. But how should the student finance? There are loans that are given without proof of income. For example, the instant loan, see here:

If you are a student, there is a requirement. You should have reached the age of eighteen. Otherwise, the law does not authorize student credit. The possibilities that an 18 year old student has are still limited. The creditworthiness is low, the loan amount will not exceed a certain level and the refinancing measures are slowed down. Nevertheless, there are simple options here. For example, a guarantee. In this way, the parents can act as guarantors for the pupil and thus offer sufficient security for the banking institution. In addition, students who have reached the age of 18 can provide a small income through part-time jobs or, if necessary, leave saved money as a deposit. Many banking institutions are not averse to passing on smaller loans on the basis of these requirements.

Which loan option is suitable?

Which loan option is suitable?

Since it is a smaller loan amount, only two loan options are possible. On the one hand the small loan and of course the instant loan. The small loan amounts to a small loan amount, which is also possible with an instant loan. If it is a larger sum, for example, 3000 USD, then an immediate loan for students is necessary. In the case of an instant loan, it should always be ensured that a cheap financing concept is used. This means that the expenditure can be compared with income. It is also important to look for simple financing models that can provide a good overview. So a profitability forecast that can adapt to the rate model with the potential income of the student, for example through newspaper delivery or pocket money. This enables students to learn very quickly what it means to take out a student loan.

Find a cheap loan

Find a cheap loan

Finding a suitable loan is not always easy. There are countless loan providers and everyone has different interest rates. A comparison helps to filter out the cheapest provider from a larger portfolio. Since comparisons can be carried out independently, free of charge and without obligation, comparisons are the simplest, fastest and most effective option. A prerequisite that is extremely important and valuable for finding high-performing tariffs.

We are here to help. Let us hear from you about any financial needs.

Want Bank Car Loans Without Usury?

 

Want to buy a car by installments, but unwilling to use flowers?

Want to buy a car by installments, but unwilling to use flowers?

If so, just pay using Islamic car loans. Guaranteed, you are only asked to pay the principal without interest.

Especially now, banks which from the beginning offered conventional services, now many have provided sharia services. Starting from Islamic savings, Islamic deposits, gold pawns, gold installments, to Islamic financing, where one of them is Islamic car loan services.

In Cream Bank, financing motor vehicles or car loans using the Good Finance system. For information, Good Finance is a sale and purchase agreement between an Cream Bank and a customer.

In the contract, the types and quantity of goods will be explained later. There continues to be details regarding the profit margins that banks take in exchange for interest.

For example, a bank buys a car that you want for USD 300 million. Then the car was handed over to you for USD 310 million. That means the bank took a profit margin of Rp 10 million. At this point, you understand how Cream Bank can profit?

Just like car loans in general, Islamic car loans also apply the repayment tenor. The maximum tenor is up to 5 years.

Interested in buying a new car with Islamic car loans? Here are some credit options you can take.

1. Motorized Vehicle Financing

1. BSM Motorized Vehicle Financing

Bank Mandiri Syariah (BSM) claims that they are ready to provide lightweight car loan installments and are supported by more than 3,000 dealers.

BSM Motorized Vehicle Financing is intended for the purchase of new cars. The maximum repayment period of this Islamic car loan is 60 months or 5 years.

The requirements for applying for BSM Motorized Vehicle Financing, namely:

  • The applicant has a regular income each month.
  • Minimum age of 21 years and a maximum of 55 years.
  • Apart from submitting themselves, they can also be submitted collectively.

These are the documents that must be submitted when applying for this car loan.

  • Photocopy of identification in the form of KTP or SIM.
  • Photocopy of family card.
  • A certificate from the workplace signed by an authorized official.
  • Salary slip.
  • The description of the vehicle purchased includes the type of vehicle, the year of manufacture, and the price of the vehicle.
  • Photocopy of special marriage certificate already married.
  • Letter of approval from wife or husband.

2. SRB Al Salaam Islamic car loan

If the Islamic car loan at BPRS Al Salaam, you will be able to offer installments that are not volatile and various promos.

Just like Bank Mandiri sharia car loans, BPRS Al Salaam Car Loans also provide a maximum tenor of up to 60 months or 5 years. In addition to financing for new cars, BPRS Al Salaam also serves financing for used cars.

The requirements for applying for an Al Salaam Car Loan SRB, namely:

  • Status as an Indonesian citizen and have a source of income.
  • Business entities may apply for this credit.

Here are the documents that you must submit to get this car loan.

  • Complete the application letter for credit application.
  • Photocopy of KTP.
  • Photocopy of husband / wife’s KTP (personal).
  • Photocopy of family card (personal).
  • Photocopy of marriage certificate or divorce (personal).
  • Photocopy of salary slip for the past 3 months or certificate of income (personal).
  • Bank account in the last 3 months.
  • Photocopy of business statement (business entity)
  • Proof of home ownership such as land certificate / land certificate / girik / AJB / SPPT PBB.
  • Photocopy of STNK, BPKB and KTP of old car owners.
  • Photocopy of SIM A.

3. BNI Oto iB Hasanah

Good Bank provides sharia car loan services with a number of advantages. Starting from financing from USD 5 million to USD 1 billion, a mild down payment, to the selling price that does not change until paid off.

Good Bank car loans also provide a tenor of up to 60 months or 5 years. What are the conditions for applying for BNI Oto iB Hasanah?

  • Status as citizen.
  • Have a steady income with a minimum service period of 2 years.
  • Complete the form that must be submitted.

4. What are the conditions for applying for Islamic car loans?

  • Indonesian citizen status.
  • Minimum age of 21 years and a maximum of 55 years.
  • Already worked for 2 years.

These documents must be prepared to take care of car loans.

  • Photocopy of KTP.
  • Photocopy of husband / wife’s KTP.
  • Photocopy of family card.
  • Photocopy of marriage certificate / divorce.
  • Photocopy of NPWP or SPT.
  • Photocopy of SIUP (entrepreneur).
  • Photocopy of Company Registration Certificate (TDP) (entrepreneur).
  • Photocopy of practice license (profession).
  • Photocopy of deed of establishment (entrepreneur).
  • Salary slip or income statement (employee).
  • Photocopy of account for the last 3 months.
  • Original employment certificate (employee).

That was the choice of Islamic car loans that you can submit. Feel the information above is incomplete? You can find out directly by calling the bank call center numbers above. Hopefully the information above helps!