Credit History Of The Borrower Part 2

If the credit history has got to the black list it can be a basic reason of refusal of bank in any reception of credits and even to bring probability of reception of the credit to naught.

So let us find out what is good and what is bad for the credit history?

What borrower for banks good and what has already spoiled the credit history and at all without suspecting it?

Loan servicing under the credit can be recognized… Good, if:

Payments on the basic debt and percent are performed in due time and fully;

There is a single instance of late payments on the basic debt and (or) to percent during the last 180 calendar days, including: under the loans given to the legal body, about five calendar days inclusive, under the loans given to physical persons, till 30 calendar days inclusive.

… Bad, if:

Payments on the basic debt and (or) on percent are performed at the expense of money funds and (or) other property, given to the borrower the credit organization by a loaner directly or indirectly (through the third parties);

The credit organization-loaner expressly or by implication (through the third parties) has undertaken on risks (danger) of execution of losses in connection with granting to the borrower of money funds and (or) other property. Exceptions constitute cases when the loan is given by the credit organization with a view of debt acquittal under earlier given loan to the borrower which financial position throughout last complete and current year can be estimated bank as good;

The loan is re-structured, that is on the basis of agreements with the borrower essential conditions of the initial contract on the loan aside, more favorable for the borrower are changed. Including, if the specified agreements provide increase in terms of return of the basic debt, interest rate reduction, except for its change performed in accordance with the terms of the agreement. For example, in case of a floating interest rate if its change is performed in accordance with the terms the initial contract, including in connection with change of a base rate in bank.

The borrower spoils the credit history and in case of late payments on the basic debt and (or) on percent during the last 180 calendar days, including: under the loans given to legal persons, from six till 30 calendar days inclusive, under the loans given to physical persons, from 31 till 60 calendar days inclusive;

Minus for the borrower if the loan directly or indirectly (through the third parties) is given by the credit organization with a view of debt acquittal under earlier given loan or the credit organization expressly or by implication (through the third parties) has undertaken on risks (danger) of execution of losses in connection with granting to the borrower of money funds for present purposes.

Do you still remember those good times when practically anybody could take a credit if one required cash? And just imagine the situation of those who have to carry that burden nowadays when the economy is facing hard times. And for those people having loans the matter of credit monitoring is as urgent now as never before. It is not only about loan monitoring, this also helps save money, time, and nerves and be fast in solving loan related issues. Those who are looking for a spot where to find out about credit report with score, are invited to check out this credit report monitoring site – there is lots of information about credit monitoring and how to order that service.

Also we shouldn’t forget about possibilities given to us by modern technologies. The Web network gives a truly unique opportunity to discover what we require or to obtain anything at the best price on the market.

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