Top installment loans for bad credit




With an installment loan, you therefore know in advance the duration of the credit and the amount to be repaid each month. If you only need a small amount, be aware that financial institutions generally apply a high rate on loans of less than 1,250 euros. In principle, you will be dealing with the maximum rate set by law, that is, the rate of wear.
To find out which loan is the most advantageous, base yourself in particular on the APR, that is to say the Annual Effective Annual Rate. All lenders are obliged to mention this on their offers in order to be as transparent as possible. Expressed as a percentage, the APR takes into account all costs (administration fees, management fees, insurance fees, etc.) as well as interest. It therefore corresponds to the interest rate that you will actually pay during the term of the loan.
Fortunately for consumers, the law has imposed maximum APRs that financial institutions cannot exceed. These limits vary depending on the amount of the credit.

In addition, also take note of the total costs linked to your credit. They will tell you the difference between the amount borrowed and what top installment loans for bad credit you will have repaid at the end of the contract. When granting your loan, remember to negotiate the application fees but also the prepayment penalties and of course, the interest rate!
You may find it difficult to repay the amount owed. In such a situation, do not allow yourself to be overwhelmed by the events and react by requesting payment facilities from the credit institution. If he does not comply with your request or refuses, you can contact the justice of the peace. The latter will grant you an adjustment to the repayment terms as soon as you prove to him that you are no longer able to honor your debts.
Once you have payment facilities, you can pay less every month. However, your credit is not deleted. You will still have to reimburse it, but over a longer period than initially planned.
Have you taken out credit with several creditors? If you also have trouble paying them, consider participating in debt mediation or collective debt settlement. Also, don't hesitate to get help. Organizations such as the CPAS are there to find solutions with you.
Note that if, on the contrary, you have enough money, you can repay your credit in whole or in part in advance. However, you must notify the lender of your intention at least 10 days before making the payment. In addition, an early repayment can give you the right to a reduction in the total cost of the credit, but it also generates an indemnity ( IRA ). Therefore, it is possible that paying off your monthly payments as provided for in the contract may be more attractive.

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