Healthy finances are those that are in black numbers and that could withstand a contingency for at least three months.
That is the definition that experts give to rate your personal figures, beyond the money you earn monthly. Planning your income and expenses also means keeping payments covered before the deadline.
Late payment affects your entire history and may break down future plans or projects. When a user is late with the minimum payment he has to make from a debt, the institution to which he owes can apply penalties from economic to legal.
According to the World Trade Organization a loan that is not covered on time can be more expensive by up to 300% due to late fees and collection costs that include from the issuance of a letter or payment reminder to the fees of a legal office to recover the debt.
The increase in the line of credit without prior analysis or notice may result in an over-indebtedness. This occurs more frequently with credit cards. If the client asks for or obtains more credit than he can afford, he will surely fall behind.
How to avoid late payment?
Any we can fall into unpunctuality, but with some measures we can conjure this status.
In principle, do not consider credit as an extension of your income, but as something you must return sooner or later.
Do not accept credit extension unless you request it and when you do, make sure it is in proportion to what you can cover each month.
Find out about the loan conditions even if you finish paying before. Most institutions are open to receiving your advance payments, but there are some others that can charge penalties.
Always keep up with your payments
Use a method with a calendar so you know exactly when you should cover your commitments and preferably do it a couple of days in advance to avoid any inconvenience.
As far as possible, advance at least one monthly payment, because if you run out of income temporarily, you will have at least that month and another 30 days to get up to date without unbalancing your file.
And finally, when you hire a loan, review the contract and compare it with the offers that are in the market. It never hurts to consider more options, but above all do not stay with any doubt before signing.
With Be-Easy loans, from Banco Industrial, you have the best options to finance your projects: from consolidating debts, studying a master’s degree, starting your own business or making the trip of your dreams, Be-Easy makes your goals possible today .