In the previous article, we put forward the thesis that the majority of Poles are unaware of the total costs of loans that they will have to incur as a result of contracting a financial commitment in banking institutions. We discussed the role of promotion in interest rates and explained why it is not worth submitting too many loan applications. What else should be remembered? We invite you to read on.
Take care of your BIK
It should be remembered that in the case of BIK, it is impossible to remove negative entries from our credit history. Even – seemingly – a small delay can ruin our reputation for the next five years. It is worth knowing, however, that BIK contains more positive information than information that can harm us and should be skilfully used. In a situation in which we agree to the processing of our data by BIK (also after repayment of the obligation) our – after all – exemplary behavior will be visible in the system and will effectively increase the chance of getting another loan.
Don’t get caught up in the debt spiral
Let’s be honest: cash loans are not only helpful but also a logical way out of a difficult financial situation. The problem begins, however, when we do not use the calculator and misjudge our capabilities. If we make a financial commitment knowing that we will not be able to pay it back, unfortunately, but we will whip ourselves over our heads. You should think carefully about every decision to take a loan. About 4 percent of Poles admit that they are taking a new loan to pay off the old one.
Most often, loans are repaid using the so-called equal installments. It should be remembered, however, that they are equal only in the case of a fixed interest rate and at a constant exchange rate of the foreign currency chalk, and as it is well known, the interest rate and the exchange rate are variable. Installments decreasing, in turn, should decrease with each subsequent month, but they may note a temporary increase depending on the current interest rate or exchange rate.