Personal credits
The personal credits or credits to the consumption are quantities of money that are requested to the credit companies to be able to finance expenses of high quantities difficult to take up office with the personal savings or needs or new desires for which there had not been foreseen any type of financing or saving previously. This includes the buy of a motorcar or a motorbike, reforms of the hearth, buy of domestic appliances, cats of studies or financing of the holidays.
The personal credits will demand the personal guarantee of the borrower or petitioner of the loan, and normally that of someone who should practise like guarantor (personal guarantee). In contrast to a mortgage loan in that mortgage guarantee always exists on the proper building (the building is a guarantee of the loan and if the quotas are not paid the mortgage guarantee is executed losing the debtor the housing) a personal loan it does not have real guarantees, that is to say, the goods acquired with the money of the loan do not endorse to the carried away loan. In the personal loans the credit current and the guarantees or guarantees go separately. In case there do not subscribe the quotas of the personal loan what will happen is that the guarantees will have to be executed, that is to say, to receive the quotas from the person or persons who endorsed the credit to us.
The most frequent personal credits are the credits for the buy of a motorcar or motorcycle and the credit of studies. In case of the “credit car” (or credit motorbike) normally if the vehicle is new the best conditions they are offered usually by the financier associated with the concessionaire or with the mark since they already have his risks very well studied and his clients can perfect and do better offers. The principal interested parties in achieving a good financing are the proper concessionaires since this way they are guaranteed good and many sales. The studies credits are credits to finance the amount of the registrations that usually have period and amounts shorter than other loans. They even can have periods of lack (there are not paid quotas of return of the alone principal one interests subscribe).
The banks and boxes can use the credits as tool of marketing offering personal credits to 0 % TAE if you fulfill his requisites: to take them the payroll, to domicile receipts, etc. An example there are the ‘Credit It nominates 0 %’ of the BBVA or the ‘Credit birth 0 %’, for newborn babies.
In the cases in which one has not paid any quota of a personal credit we would finish in the records of bad debts (RAI, ASNEF) with the discomfort that this can cause, for example at the time of that another credit is granted to us.