If you need to finance your studies, housing or investment with the help of a bank credit, investigate and choose the one that is most convenient considering the obligations and responsibilities that you will generate as a debtor.
Borrowing a loan from a bank is not only about obtaining a certain amount of money that has to be repaid, but also carries with it certain responsibilities and obligations . Below, we present a series of recommendations from the Financial Superintendency published in the portal finanzaspersonales.com.co that you must keep in mind when requesting a bank credit.
Before processing the loan, be sure to know all the general conditions of the management, the obligations and rights that implies to be able to determine if it adapts to your possibilities of payment and needs.
The credit agreement must cover all the conditions agreed upon and requested with the bank, the interest rate , the amount, the term, the values of the installments , the dates of payment and the sanctions for defaults. After you have signed, keep a copy of the contract.
Provide the bank with the information it requires so that the entity can perform updatable and verifiable studies of your credit.
Spend the money wisely and avoid giving third parties data that allow them to manage your credits. In the case of fraud or phishing, solve the problem and go to the bank to rectify the information.
If your credit is denied, ask that you return all the documents delivered for the application, thus certifying that these data are not used for different purposes.
Comply with the dates and amounts indicated for payment of fees. Be clear on what days to pay and do not back up on the statement as a reminder.
Failure to pay the fee on time, you will be awarded default interest and eventually you will be entered into the databases of the financial institution as a debtor. They can generate judicial proceedings against you for the repeated breach of payment obligations.
The bank will make a report that will be positive or negative depending on the fulfillment of the loan obligations, which may help or hurt you when applying for a new loan.
Find out about the time of permanence of the data in the risk centers. The positive information is perennial, while the negative information expires depending on the time of default, recurrence of non-compliance and the existence of legal proceedings.
Regularly consult personal information that is reported in risk centers and requests updates to renew, complete or correct the registration. We hope all the above information will helps you. If you need more details regarding bank like all branches and ATMS locations in America, heads names and addresses, etc then you can simply visit their website here at www.routingnumberusa.com