Credit History Tips. Part 2

In financial instability all market makers suffer. Today it is difficult enough to take the credit for acceptable conditions: many banks that feel lack in liquid means reduce credit portfolios, switching attention to foreign exchange transactions, review the bank products, toughen requirements to borrowers. In turn the borrower too sustains enormous financial losses because of delays of the salary or work place loss an begins incapable to repay indebtedness in time. The credit in bank appears to be for the barrowers too expensive. Experts say that the second and third quarters of 2010 will be the heaviest as “bottom” of financial crisis is not reached yet. Analysts name its year of credit crisis and formation at them the big financial liabilities before each other expect growth of “bad debts”, bankruptcies of many financial and legal organizations.

Today we observe increase of interest rates, increase in mortgage cost. Banks began to show consideration very much for crediting currency. To minimize exchange losses under the given out/received credits banks try by means of hedging of derivatives (purchasing of options, forwards). As to possibilities of the borrower to obtain the credit at bank its chances will be increased in many respects by faultless credit history. Scoring systems of banks turn the increasing attention to the credit history of the client.

Bankers even more often inquire credit bureaus to learn whether there was at the borrower some delay, the default on loans, and on the basis of this data is made the decision on issue of new credits. Influence of crisis on return of loans is negative. Today at the majority of the enterprises (especially in metallurgical industry, mechanical engineering, building) sales and a revenue that complicates repayment of credits fall or leads to defaults under obligations. Under our forecasts, the crisis phenomena in domestic and world economy will amplify that will cause growth of number of bankruptcies and delays on payment of loans. Credit history of the borrower defaults and delays under credits, bonds can impair a little, courts and criminal prosecution of proprietors on tax affairs.

So you see, it is necessary to risk with mind. You can take the credit under high percent, but whether there is sense to give yourself to credit servitude and to register in debtors and by that to spoil the credit history? We have such a wide experience in sphere of overcoming of financial crises and it is necessary to use it. While accepting the weighed decisions it is not necessary to forget about economy, ability to work with those resources which we have today and the most important thing is capability to see the new not involved resources. Crisis will mobilize, and it means that market economies of our countries will become even more perfect.

Do you still remember those good times when everybody could take a credit if one required funds? And just imagine the state of those who have to carry that burden nowadays when the world economy is facing tough times. And for those people having loans the issue of credit report monitoring is as crucial 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 problems. Those who are searching for a place where to learn about credit reports, are invited to check out this credit report monitoring site – there is much information about credit monitoring and how to order that service.

In addition we haven’t forget about possibilities provided to us by modern technologies. The Internet network provides us with a really unique chance to learn what we need or to obtain anything on the best terms which are available on the market.

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