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Credit


 

The concept of credit comes from Latin credere “to believe” and creditum, which “is entrusted”. One can find, for example, a precise definition in a banking dictionary on line:

Credit: money placed at the disposal by a person, a company or a bank for one given period. N the other hand, the recipient must pay interests. In the majority of the cases, it must also provide a safety to the bank as a guarantee for the lent sum. This safety is called cover.

Why take a credit?

When you take a credit, you also pledge on the long term; in the case of the consumer credit, with confidence that the budget of your household will not worsen throughout credit. You pay a supplement which can reach 15% of interests per annum. Thus reflect with precision if you can take this risk and if you wish to reach this stage.

In certain situations, it can be useful to request services of credit. Especially in three cases:

- You envisage an important purchase that you cannot entirely finance and in once by your own means.

 

 

Principal example:

- The purchase of a house.

For an unforeseeable reason, you know one financially difficult period and require, to cross the course, that money is lent to you.
The least expensive, it is however that your close relations, your employer or one (E) of your friend (E) S can repair you.
There are two cases where it is certainly not recommended to take a consumer credit:

- If your budget, following the loan, would hardly have more margin for the unforeseen ones

- If it appears right now that your budget will worsen throughout credit, for example because you will have a child or that you will take your retirement

 

Guaranteed for appropriations:

- According to the credit, various safeties or covers are required. A possibility is that you deposit a pledge near the bank or of the institute of financing: a police force of life insurance, titles (like actions and obligations), jewels, etc If you do not honour your obligations with payment resulting from the credit, the bank can sell the pledge.

- In certain cases, the credit institution requires that a financially solid person stand as guarantor of the guarantee: it is declared ready to pay the credit in the event of urgency.

The interdependent agreement of responsibility is very widespread: the two recipients of the credit promise at the institute financing the complete payment of the debt. The bank pays the credit in once and receives in exchange two engagements of refunding (or more); of course, it has the right to box the refunding of the credit only only once.

- If these means are not enough or that no safety was agreed, it is the unpleasant alternative which occurs: the backer continues you and can trail to you in front of the courts, in order to recover his money.