Credit Information: Things You Must Know About

Many people know that banks and lenders dislike credit information, but fewer know why. Those who apply for loans in several places for a short period of time can reduce the chances of a good interest rate and, in the worst case, risk not having their loan application approved.

Your credit rating can deteriorate if a lot of credit information is taken on you for a short time. Here we list 6 things that you need to keep in mind to prevent credit information from damaging your credit rating.

Let’s start by clarifying the most important things first:

What is a credit report?

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A lender needs good evidence to determine the risk of lending and granting of credit. According to the Consumer Credit Act, banks and lenders must take a careful and careful credit check before granting a loan. A credit report is used to make a risk assessment if you have financial prerequisites to pay interest and repayment on a possible loan, which is based on your personal financial history and current situation.

A credit report is registered for 12 months and contains information about your:

  • Loans and active credits
  • Payment notes and debt balances
  • Previous credit information (last 12 months)
  • Personal information such as name, address, income, property holdings and marriage regulations.

This takes us to the list of the 6 things you need to know about credit information:

Two types of credit information

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For private individuals, there are two different types of credit information; Micro information (UC13) and Personal information (UC3). These contain different amounts of information and affect creditworthiness to varying degrees. Below you can see what each contains:

Personal Information (UC3):

  • Name and address
  • Income data two years back
  • Marriage
  • property Holdings
  • payment Notes
  • credit inquiries
  • Debt balance at Kronofogden
  • Active credit

Micro Information (UC13):

  • Name and address
  • payment Notes
  • Debt balance at Kronofogden

A personal information (UC3) is apparently a more comprehensive information that is always registered on you and thus affects your creditworthiness, especially if a lot of personal information is done on you within a short period. This type of information is always standard in, for example, the loan application when the lender needs all the information they can get to make an adequate risk assessment of you.

The less detailed Micro Information (UC13) is a milder variant that is not recorded and therefore does not affect your credit rating . If your future landlord says that he or she wants to take a credit report on you, then you can then ask if the information contained in a micro-information is sufficient.

So the tip here is to try to avoid personal information and prioritize micro information to the extent possible. Good to know then is that different parties have the right to / can see different information (for example, lenders can see more than one mobile operator).

There must be a legitimate reason

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The actor who is interested in taking a credit report on you must, by law, have a legitimate reason, which limits who can do credit information on you. In addition, you must always approve a request that credit information is taken on you before it is executed, which you should only do if there are legitimate reasons.

A legitimate reason could be, for example, if you make a loan application from a bank, rent an apartment or be employed in a higher position with financial responsibility (eg financial manager).

Do you credit or Good Finance? Which one I choose? Opinion of a professional

When we are presented with an unexpected expense and we do not have enough money, the first thing we think about is asking for a quick loan. Among so many options, it sometimes becomes difficult. The best in these cases is to make a comparison among the best. Here we are going to contrast two offers of fast credit companies that stand out: Good Credit and Good Finance.

Do you credit or Good Finance? Which one I choose? Opinion of a professional.

Why choose Good Credit

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We can get a credit instantly for any eventuality . You can opt for a minimum amount of $ 500 and a maximum line of credit up to $ 5,000. They do not charge management fees or commissions for loan approval. The repayment term is 61 days up to a maximum of 36 months.

We have the possibility of making the return flexibly in 36 months, without paying commission for early repayment. The requirements and conditions for applying for fast credits are the same for both Good Credit and Good Finance : being of legal age, having an address in Spain and having a valid identification document (DNI or NIE).

No endorsement is necessary or obtain another bank account. It is also not necessary to collect by payroll, only to have verifiable monthly income, regardless of whether the money is obtained by payroll, unemployment benefit, pension or self-employment. Neither Good Credit nor Good Finance accept files from delinquents such as ASNEF or any other similar.

The application process of both companies is completely online

The application process of both companies is completely online

From the application process to its approval. It is not necessary to leave the house or make long lines, much less perform bureaucratic procedures. Just having the Internet, a computer or a mobile, the rest is easy.

In both companies, the approval response is obtained in a few minutes . The company offers the client the income of the money in only 15 minutes, if the loan is approved. With regard to fast credit reimbursement, it offers us flexible payments: between 2 months and 36 monthly payments.

If we make an advance payment, whether full or partial, we do not pay any commission. If we find it difficult to pay a fee, Good Credit gives a “month of respite,” that is, deferring the monthly payment. It is feasible to anticipate or postpone the return time, when we request the modification. This service carries a minimum additional cost.

Finally, in terms of interest rates, it offers a considerable range of financing for those who apply, from loans with a minimum APR of 24.90% to loans with an APR of 381.28% maximum reserved for higher risk profiles.

Advantages of choosing Good Finance

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Good Finance has a direct credit line that allows financing any emergency. The amount that allows us to get varies between $ 500 and $ 4,000. They do not charge maintenance fees or commissions for loan approval. Nor is it essential to change banks. The repayment term of this company is longer than that of Good Credit.

The return terms range from 12 to 42 months. They do not charge commissions for partial or total cancellation. The final term can change in a month according to the days of financing. The credit approval response is immediate. Although the income of the money is made in 24 hours maximum, if the loan is approved.

Good Finance fast credit reimbursement offers us flexibility in the amount of fees : between 12 months and 42 monthly payments, as well as the fee we prefer to pay. They do not charge any commission for early repayment. The interest is the same for all credits and terms. Minimum and maximum APR: 24.51%, TIN: 22.12%.

In short, both companies have their similarities and differences. The truth is that both companies offer financial products that represent an effective solution for those who at some point we face a money problem. Because they are personal loans online, all management is agile, fast and secure.

If you have been interested in this comparison, you are probably also interested in this one between E-Money or Good Finance, where we explain in which cases one or the other is convenient.

How Much Does a Money Problem Solve – Repay Loans

Nowadays, many people are facing huge financial problems due to unforeseen circumstances. Loss of work, delay in wages, decrease in income, increase in expenses, inability to repay loans and other unforeseen expenses … All this brings us to a situation when it is difficult to survive a month in a plus and get rid of all expenses and debts.

Money is not immune to those who make good money. Everyone sometimes gets into a situation where they do not see a way out and still find themselves in a vicious cycle of costs and debts.

At the beginning, most ignore the problems because they think that the money situation will be solved by itself. But over time, because of this thinking, we come to a hopeless situation from which we no longer see a way out of money problems.

How much is a monetary problem worth solving when we find ourselves in a situation where there is no way out, from which we must act now and here, take matters into our own hands and finally get rid of money problems? Everyone would then give their all just to get away and live unburdened and free again.

 

The solution to all monetary problems is free!

money problem

But the solution to the monetary problem does not have to be expensive , it does not even have to cost a single lime, or a single banking fee or fee. The solution to all monetary problems lies in cash loans. These are free online loans that will get you out of any situation and support you in all, at first glance, out-of-the-box situations.

All new users of Welma Florence Bank who choose online loans from 300 to 3000 dollars and with a repayment period of up to 30 days can get the money to solve the money problem on the same day and will repay exactly as much as they have borrowed – not even a penny more.

If you want to solve your financial situation in the same day, with no surprises and hidden costs, you can request cash loans anywhere. Just fill out the online form and the money is yours in 15 minutes.

 

How to Live the Plus?

How to Live the Plus?

Before making a loan, make a plan and evaluate your financial situation well. It is also important to include the lowest cost in your financial plan, because only in the end you will be able to evaluate what you can give up and how to save.

It’s not unusual for many to live on credit cards today . Be careful, because then you never dollars exactly how much money you currently have available, you can easily lose money in repayments and the additional costs that result from them.

Namely, the membership fee is usually free during the first year, and later it is charged. If you have two, three credit cards, these costs could go up to over $ 500 a year . Get rid of credit card debt, because the solution to money problems lies in free online loans . At no charge, as much as you borrow, you will pay back as much.

 

Minus bills are also a big budget trap that many easily fall into

Minus bills are also a big budget trap that many easily fall into

Did you dollarsow that your approved minus in your account can cost over 1000 kuna a year? Close the minuses with free cash- only cashbacks. In addition to finally getting rid of the minus, you will save the amount you give annually as compensation for the approved minus.

Withdraw all money from your account every month and schedule it well . You need to dollars exactly how much money you need for overheads and food, and put some of that money into savings. Make a plan and spend only what you have left over after calculating the difference between income and expenses.

Good Finance Credit benefits

In moments of real urgency, the need arises to get certain sums of money to solve unforeseen situations . On the other hand, many entrepreneurs yearn to change their future by making investments of different categories that generate a greater number of income.

Whatever the reason, it is always a real challenge to have financial resources immediately , especially when dealing with banks, the large number of requirements discourage anyone. However, there are quick and immediate alternatives that modify this fact , we talk about Good Finance Credit.

Unsurpassed online loans

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Good Finance Credit is a direct platform with which it is possible to process loan applications immediately and without intermediaries. Making an appearance in a certain office and waiting for long periods of time is part of the past.

Good Finance Credit benefits

The advantages it offers perfectly exceed other lenders, given its track record in the financial field. Here are some:

  • Through the official website, users can perform simulations of loan offers by simply selecting the reason that motivates the request and the expected amount, the system will issue an offer that will be sent in a personalized way to the email.
  • The rates are low compared to other financing entities .
  • Interest is distributed equally among investors .
  • The response capacity on loan approval does not exceed 48 hours .
  • It has an international presence.
  • Monthly fees are fixed and convenient to pay .
  • The deadlines are defined by the applicant according to their needs and capabilities.
  • The procedure is presented with transparency to the parties involved .
  • The platform maintains constant communication with the users, with the purpose of indicating any novelty regarding the loan, as well as, previous reminders about the dates of cancellation of quotas or others .
  • The maximum term to pay will depend on the type of request .

Steps to make credit applications

It is very easy to process any request , the first thing you should do is enter the page and register, then the user selects the type of credit that is required.

As these are fast loans, once the petition is formalized, the system will issue an immediate response that will allow it to continue with the next phase: annex of documents and endorsement of the contract. Two days later, the amount is deposited in your bank account and you can now have your money.

With respect to the documents, it is very important that they comply with the indicated parameters , so that they are not discarded by the system and the immediate rejection occurs. While to formalize the contract, it is only necessary to enter the code received via SMS.

Loan selection according to each need

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There are many reasons that drive the need to request financing. Loans related to reforms include general or specific arrangements of some internal or external areas of the home. In the case of the acquisition of vehicles , whether new or used, the lapses for the return of the money amount up to six years.

If you have several loans open simultaneously there is a viable alternative that facilitates the unification of them, now is the time to settle all these applications and integrate them into one. This option offers the possibility to control the disbursement of fees more optimally .

Thousands of scenarios arise day after day, unforeseen events occur constantly and usually the solution to certain situations are associated with the availability of money , such as: accidents, health problems, funeral services, surgeries or others.

Over the years, both young people and adults aspire to conclude certain significant achievements that increase the quality of life . Travel, wedding, masters and training, the acquisition of new technologies and more. Other minor projects have been of interest to many, such as investments in small businesses. The reasons are so wide that they do not fit in the imagination.

Opinions and references to evaluate

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The most important thing on this page is that it is absolutely reliable and secure , which has been certified by thousands of users who have had the opportunity to receive Good Finance Credit credits. Some of the impressions that stand out are:

  • A high percentage of users agree that the care received is of high quality .
  • If the system rejects any request, it usually has to do with a problem with the documentation presented, once the procedure is corrected it concludes satisfactorily .
  • Fast and efficient experience .
  • The documents can be sent by various means of electronic communication.
  • The requested amounts were deposited without problem in the indicated bank accounts.

Many online pages are characterized by announcing how advantageous and easy it is to ask for some type of credit virtually. It is very easy to be a victim of scammers when you are in the middle of a pressing situation and to glimpse completely “possible exits”.

It is essential to review the trajectory of the company that offers the loan service , verify its presence on the internet, profiles on social networks, comments and user opinions. Registration and certification before the corresponding government authorities are a key factor.

Taking extreme caution regarding the transfer of personal data, especially debit or credit cards and making comparisons between the various alternatives, is also a mechanism to assess the advantages and disadvantages of each option.

Tips for requesting a microcredit

Microcredits are in fashion. Its ease of access, the convenience of return and the pressing need for liquidity by some clients have meant that requesting a microcredit has become commonplace throughout the year. And along with demand, supply has grown exponentially.

Ask for a microcredit, impossible task?

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More and more financial institutions, many traditional such as banks and banks, and many modern thanks to the Internet, which offer such services.

Such is the range of possibilities that we have that many customers are overwhelmed by so many options. We make it easy for you and give you some practical advice to request a microcredit.

Requesting a microcredit is an emergency solution for equally urgent situations.

The basic tips to request a microcredit

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Keep it real. That you need money does not mean that you have to jump quickly and quickly to the first contract that will put you ahead. You should value very well how much money exactly you need, in what term and how you will be able to return it. You should never request money for less or more, adjust yourself as much as possible.

Set deadlines. It’s the next big question once you’ve answered how much. When? And we do not mean when you will need your money, because practically all the credits in just 48 hours but when you will be able to return it. The entities that offer this type of services trust their customers and give them without the need for endorsement, payroll or even if your name is in delinquent files, but they also establish their return deadlines, which vary from 30 to 90 days and usually Be strict with these times.

Get informed That there are many companies that offer microcredits does not mean that they are all reliable. Browse the web to consult the opinions about which you have known, see if they comment on the small print of their contracts and do not hesitate to ask them all the questions you deem necessary. Transparency is always a sign of trust.

Study the options

The conditions of microcredits do not usually differ much, but it is important that we read in detail those that make up our contract, especially those related to hypothetical commissions, surcharges for non-payment and the fine print of the contract.

Microcredits are a type of financial product that are usually granted at a minimum interest, in many cases non-existent, because what the company wants is to gain customer trust for future operations. Even so, inform yourself very well and remember that microcredits should be a solution for urgent cases and not a constant in your economy.

What is the credit? Financial aspects

All this implies that the mortgage loan has lost its appeal and its popularity has been displaced by other means or credits, such as consumer credit . However, the recent and growing recovery of the economy has once again put interest in mortgage credit , even though the costs of the mortgages granted before the crisis have not yet been covered.

From Ramsay family Unpaid today we will reveal the answer of what the credit is , we will explain the different types of credits that exist and we will guide you, in case you need to ask for one, you have lent money that has not been returned to you or you are a victim of other financial aspects Like the ground clause.

What is the credit?

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To understand the concept of credit, we must start by defining what credit is. The credit is characterized as a financial procedure in which we receive a certain monetary amount, for a certain time and up to a set limit.

Generally, loans are usually granted by financial institutions in accordance with stipulated and agreed clauses. Although there are other types of credits that we will mention later. To dispose of that money, commissions subject to interest on the capital we use must be paid.

Once the loan has been finalized and after its termination period, an extension or renewal can be negotiated again.

That is, the purpose of a loan is to cover expenses in specific situations where there is a lack of liquidity. Normally, it involves the creation of a checking account and a credit card .

Credit accounts

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Credit accounts are all those bank accounts in which an amount of capital is available, previously agreed with the financial entity. This sum of money will be available to carry with the expenses that we have agreed upon. The most common is to pay annual fees for maintaining it.

Credit cards

Credit cards arise after the need to facilitate payments to consumers. It is a line of credit, which allows the holder to make purchases or withdraw cash from an ATM or bank branch. Among the advantages, we reflect that they can be used worldwide. In this way, we will have money, even without being in cash from the local currency. In addition, it allows flexibility when making purchases, since they can be paid at the beginning or end of the month, as well as split payments.

Depending on the conditions of the contract subject to the credit card we acquire, we can find several types of credit cards , such as classic, silver, gold etc. Support interest is usually charged, as is the credit account .

What is a loan?

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According to article 1740 of the civil code , the loan consists of a contract whereby the bank identity makes available to us the amount of money agreed upon. In this case, the money lent to us must be returned during the agreed time period, in addition to paying the corresponding interest and commissions. The most usual is to return that amount in monthly installments to make it more enjoyable.

It is called a lender to that person or financial body which lends us a good or money under a loan . The person who receives the money under a loan is known as a borrower.

Differences between credit and loan

It is likely that the vast majority of us do not know how to differentiate between a loan and a loan. In fact, it is usual for both terms to be confused, even if they are believed to have the same meaning. Actually, these are two very different concepts. Those with financial knowledge may know what I mean. We can differentiate them more easily knowing the following characteristics:

  • The loan is usually used to acquire assets of a large sum of money, such as a vehicle or a home. They tend to have a long duration and the most normal thing is to know exactly the price. On the other hand, the credit is usually used on specific occasions, when it is necessary to have an amount of money at a precise moment. The latter is the most used by freelancers and businessmen, who need liquidity without being knowledgeable about the amount they will need.
  • Normally loans are usually personal, therefore, guarantees or collateral (such as the mortgage) will be required as a backup. In loans , however, no guarantee is generally required, since interest is paid based on the capital spent.
  • When a loan is terminated, a renewal is not allowed, so a new loan agreement will have to be initiated. The credit , in contrast, can be extended and renewed as many times as appropriate, as long as it is within the maximum available.

Get the first loan at no cost >> Loans easy with NemID

You can easily get a loan up to 12,000 dollars. How much you want to make use of the credit is up to yourself.

Previously, you could borrow small amounts for periods from 5 days to 30 days. If you needed a new loan, you should make a new application.

These loans have Kend now replaced with a credit. You can freely raise this credit when you wish. Thus, you do not have to make new applications every time you need a new amount. For example, are you missing often 500-1000 KR? at the end of the month, you do not have to make applications every month, but you can only raise the amount of your credit and pay the credit back when your salary goes into the account.

The best solution for short loans

Since Kend has become a credit instead of the very short micro-loan, the loan is in fact infinite. However, this does not change the fact that Kend is still the best solution for short-term loans.

You can still borrow for example $ 6,000 and payback after 30 days. Before, you should finish your existing loan before you could get a new loan. At the same time, you should make an application to get the new loan. With the new credit, you can always adjust how much you want to borrow.

Do you need to borrow small amounts for the things you are missing right now and here, just raise the amount on the credit? If you can pay back already at next month’s salary, which may only be a couple of days, you can do this electronically. You only pay interest for the actual loan period.

The new loan form with credit is thus still the best solution for short loans. At the same time, the solution is much more flexible and gives you exactly the options you need.

Free loan

Previously, at Kend, you could get your first microphone without charge and interest. You could thus get a loan of 6,000 KR. At no cost for 30 days.

This option has continued with the new credit. Once your credit has been created, you can raise up to $ 6,000 on the credit and repay the credit within 30 days. If you do this, it will remain completely free of cost.

If you raise your credit later, you will pay regular prices. Just the same way you did before your future loans.

Increase your credit over time

In order to reduce the risk that customers will not pay back, Kend always has limits on the amount of the loan in your age and how many times you have previously borrowed. If you were over 23 years old and should you borrow your first loan, you could borrow a maximum of 6,000 KR. The second time you borrowed you could borrow 6,000 KR. And at the 4th time, you could borrow 10,000 KR. At a time.

Today Kend does not offer loans, but instead credit. You choose how much you raise your credit. Ie how much amount you actually borrow at a time and for how long. However, the limits for how much credit you can get are the old loan rates. This means that as a new customer over the age of 23 you can get a credit of 6,000 KR. Over time, you can increase your credit so that you eventually get a credit of 12,000 KR. However, before you can raise the credit to 12,00KRkr. you must have proved that you are able to pay off on the part of the credit you have used.

Note that you can already get credit at Kend as a 20-year-old. However, at the age of 20, credit limits are slightly lower. As a 20-year-old you can reach a maximum credit limit of 6,000 KR.

To be eligible for credit at Kend, you must also be a Danish citizen, and you must not previously be registered as a bad payer, such as in RKI. Last but not least, you need NemID to receive your loan on your NemKonto. If you meet these requirements, your way is cleared to take your first loan/credit at Kend with super favorable terms.

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The bank always wins. This very popular expression can make sense if we analyze the political and financial agreement adopted by the Summit of heads of state and government to provide a solution to the debt crisis that the European Union suffers.

The banking sector has agreed to recapitalize and “forgive” 50% of the debt owed by Greece. But this acceptance is not done for free since in economics there is nothing that is adopted for anything in return.

The bill that European companies and families will have to assume in the coming months, especially during 2012, will mean that banks will put more conditions to grant credits and make them more expensive, while the entities will increase their promotions to attract the popular savings with the objective of facing part of the resources it will need to recapitalize.

Since Spanish banks say they will not want to go to state aid, which is more expensive to repay in the long term, there will be a series of actions that private individuals and companies that want to access private financing will notice.

The recapitalization will mean, among others, less access to bank loans and in this in a country like Spain where consumption does not quite take off, families are running out of savings, activity, and consumption is still not rebounding and small and medium-sized companies need the credit to continue paying suppliers and maintain their business.

As the bank will have to allocate to provisions in its balance sheets loans granted to municipalities and autonomous communities, public administrations will also see the private funding they need to pay their payroll and suppliers, which can have a consequence on jobs current and in the creation of new public jobs to have fewer financial resources.

All these situations are derived from the political meeting yesterday in Brussels. Banks have been discreet guests, but very present in the ten hours that have lasted the negotiations between the International Institute of Finance (IIF) and Europe to resolve the crisis of debt and confidence that the Union suffers.

The bankers, or rather, the representatives of the major European entities – especially French and German – were waiting last night in an annex building in Brussels for the solutions that the political representatives of the Union had to agree to tackle in the medium and long-term the current crisis of debt and define the new conditions to rescue a Greece in a state of “hidden” bankruptcy.

Finally, it was the banks themselves that assumed an effort to “forgive” 50% of the debt that Greece owes them, and, on the other hand, to accept recapitalization, which will put more pressure on them, to attract resources from their own and others’ clients. future episodes of war of the liability, increase the credit conditions offered to individuals and companies …

In short, the banks are those that have assumed to make concessions to save the euro and return the lost credibility in Europe among investors.

French President Nicolas Sarkozy made it clear yesterday: “The banks have agreed to make an effort of 100,000 million euros to help the euro”, in his press conference after receiving in an office along with the German Chancellor Angela Merkel those responsible for the banks integrated into the IIF.

But at what price have financial institutions agreed to get involved in Europe, save the euro and forgive 50% of the debt owed to them by the Greek state?

The agreements adopted last night left no doubt that banks will receive compensation, while at the same time recapitalizing their account and risk without, in principle, the public finances of the member states (citizens) taking on this risk.

Germany was determined to impose a very severe restructuring of the Greek debt to save the interests of its banks, which are along with the French, the main creditors of Greek debt, which would have led to officially declare Greece as a bankrupt country.

This possibility meant that the Union and the European financial system entered into an uncertain spiral and that it could infect other intervened economies such as the Irish or the Portuguese, as well as severe risks to other indebted economies such as those in Italy and Spain.

Having ruled out the official declaration of technical bankruptcy of Greece, the solution was to increase the rescue fund and recapitalize European banks, as well as to summon the European Central Bank (ECB) and its future governor, the Italian Mario Draghi, to continue with their policy of injecting liquidity into the financial system.

According to the agreement signed last night, Europe has convinced banks to forgive 100 billion euros of the 210,000 million Greek financial debt that are pending collection.

Europe will continue to lend money to Greece in exchange for hard adjustments and social cuts to reduce the public deficit, but these loans https://www.paydayloanhelpers.com/ will be made long-term with lower interest rates precisely so that the Greek economy can return the loan without having to mortgage future generations.

European banks that lend money to Athens will receive paper guarantees provided by the Member States of the European Union for an amount of 30,000 million euros. In addition, the EU and the International Monetary Fund (IMF) will help Greece with credits amounting to 100 billion euros. All this aid must be reimbursed in the long term by the Greek authorities.

As regards the recapitalization of European banks, imposed by the countries of the Union and demanded in recent weeks by investors to avoid the paralysis of credit and liquidity that banks contribute to the system, it has been set at a certain amount of 106,000 million euros.

A figure that results from having examined the balance sheets and income statements of the banks and savings banks of the euro area after taking into account their loss of value at the end of September with respect to the sovereign debts held by these bond entities and Letters from the Greek, Irish, Spanish, Portuguese and Italian economies and compared to the accumulated earnings with respect to the equivalent debts of the United Kingdom and Germany.

On this basis, the community regulators have evaluated for each bank the path they must take to achieve the 9% percentage of the capital ratio (core tier 1, in banking terminology). This objective should be achieved as the deadline on June 30, 2012.

It is for this reason that today Spanish banks and savings banks have begun to communicate to the CNMV the capital needs of some 26,000 million euros in order to comply with the requirements of the European Union.
Apart from the requirement of 9% of basic capital, Brussels has indicated that European banks will have to value their sovereign debt portfolio at market prices and not issue prices.

This bill is especially hard for the Greek banks, which are very exposed to the debt of their country for having bought in bulk Greek sovereign debt, which will have a need for recapitalization that will add 30,000 million euros. The Italian banks will have to recapitalize in 14,800 million euros, the French bank, in 8,800 million euros and the German, in 5,100 million.

Fewer dividends for shareholders

To avoid resorting to state loans, or what is the same ask for public assistance that they must return with interest in the short and medium term, banks that are healthy can compute their benefits as own reserves.

This will mean that the shareholders of the banks will see a considerable reduction in the dividends they should receive in 2012. Or what is the same, the shareholders (owners) of the banks must make sacrifices to stop receiving these dividends.

Increase the rescue fund

European leaders decided together with the bank to rise to 50% the reduction of Greek debt, while the capacity of the permanent Rescue Fund will be extended to close to 1 trillion euros.

Another of the master lines designed by the EU to strengthen European banking will be the possibility that the sector will have to capture liquidity in the markets with EU guarantees, which will allow entities to finance themselves at better prices. In addition, you can account for your convertible bond issues as the capital of the highest quality, as claimed by Spanish banks.

On the other hand, a draft of the summit obtained by Reuters ensures that the Eurozone Rescue Fund, valued at 440,000 million euros, “will have the capacity to leverage several times”, but the details will not be agreed until November.

The document contemplates two ways to leverage the fund: by issuing risk insurance, by investing in a special investment vehicle or both at the same time. According to this information, the rescue fund would probably have a base of between 250,000 and 275,000 million to leverage. Therefore, the size of the European rescue fund after leverage would reach 1 trillion euros.

In addition, the draft urges Spain to take additional measures to balance its budget, especially with regard to the labor market and its competitiveness. Another paragraph on the measures to be adopted by Italy was still blank but will be completed during the night, according to the news agency.

The agreement on the cancellation of the Greek debt has gone ahead after intense negotiation between the countries of the eurozone and the banking. Finally, it has been decided, that the withdrawal is 50%, as it had already leaked during the summit. According to EU sources, the objective “is to reach a level of Greek debt of 120% of GDP in 2020”.

More social cuts and tax increases in Italy

The Italian government of Prime Minister Silvio Berlusconi has promised his European partners that he will take the necessary measures to improve his control and growth of public debt before November 15.

The Italian government is committed to carrying out labor and pension reforms, with the retirement age up to 67 years by 2026, according to a letter sent to the EU summit in Brussels.

In addition, the transalpine country has also promised to raise 5,000 million a year through the sale and valuation of state property for the next three years.

The European Union opens up to the capital of emerging countries

To get out of the debt crisis, the European Union can no longer do it alone but will need external capital. The countries interested are the emerging economies, such as China, Russia, Brazil and also Japan. “European countries should welcome investments from emerging countries such as China and actively help us,” Fu Ying, deputy foreign minister at the delegation of this country in Brussels, assured this week.

In exchange for receiving the capital of the Asian country, China demands the support of the European Union to facilitate its entry into the World Trade Organization (WTO), which would eliminate certain tariffs on Chinese products and facilitate their import into the European Union.

The Chinese are not the only ones interested in buying sovereign debt from European countries. Japan has already allocated 2,228 million euros after attending three broadcasts launched in Europe and is willing to go to more. It also adds to the interest of Japan, the economies of Russia and Brazil.

China could also support Europe by ensuring that it will contribute to the rescue of the eurozone by investing in the European Financial Stability Fund (EFSF), as reported by AFP, citing European diplomatic sources.

French President Nicolas Sarkozy hopes to meet today with his Chinese counterpart, Hu Jintao, to negotiate on the Asian country’s participation in the EFSF. “China is in favor” of contributing to the EFSF and will do so through an autonomous investment entity, according to this information.

Experts say that the Asian giant would already have about 500,000 million dollars in European debt.

Klaus Regling, director of the EFSF, is scheduled to meet Friday with Chinese officials in Beijing to discuss China’s investment in the rescue fund.

Related The Spanish banking will not need the State to capture 26,161 million The German Constitutional rejects the parliamentary mode to rescue the euro Sarkozy says that without the agreement of the EU “everyone would have gone to catastrophe”

Marketing — Making It As Effective As You Possibly Can

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Forex Education: Follow Your Gut Or Even Your Broker

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