Loans and online loans are an indispensable element of any modern financial system. Increasingly, they meet the needs of people in a fast and personalized way, which is why there are many users who acquire them without the reserves of yesteryear. The elements that make them so attractive are: the flexibility to request and receive them, in addition one of the most valued aspects are the facilities in the return of the loan, partially or totally.
HOW ARE THE CONDITIONS FOR RETURNING ONLINE LOAN ESTABLISHED?
Although the most typical, well-known and popular product of online banking is microcredit , there are many online loans that carry thousands of euros, just like any traditional banking institution. What all online banking has in common is the method and conditions.
If you browse through the main offers that we include on our website , you will find that these are the methods to establish the conditions for the return of online loans.
The client chooses the date of payment, either the total (if it is a microcredit ), or the monthly payment and the number of monthly payments for loans of higher amounts.
Likewise, the customer chooses the exact amount of money requested.
Interest rates are established according to the term and amount in a simulator.
And this is all that happens. The customer receives the contract via email together with the date of repayment of the loan in a summarized form. All the clauses and commitments acquired by the clients will be included in the contract.
WHAT ASPECTS CAN BE NEGOTIATED AND AT WHAT COST
Negotiate online loan repayment is something very simple and accessible, since the same companies have mechanisms to do it from the client’s account in a few clicks. Now, under what conditions?
The online loans are really attractive, the most important thing to consider is that almost all the conditions to re-negotiate have a price in the form of commission.
In the same way, and although everything has a commission, these are usually transparent and the client must know them in advance to avoid any surprise.
THE DATE OF RETURN OF THE ONLINE LOAN
If the date of the monthly payment changes, you can review it in your account within your user area, the process being as simple as the client associates it with any email, social network or online forum.
Of course, you must notify at least one month in advance and with a small fee, which can be from 5 to 20 euros.
OBTAIN EXTRA TIME FOR PAYMENT
Imagine that a month you can not pay the monthly payment of your loan , or, if it is a microcredit , you need another extra month to return the requested money. In a traditional bank it would be practically impossible to do so and you would face fines for unpaid amounts, more out-of-date payments and other items.
IN A ONLINE LOAN YOU CAN DO IT, MORE SIMPLY
You must notify the bank in advance; the bank establishes that term. And to access that extra time, you’ll have to pay in advance the interest generated. If a month the interest generated by your loan is, for example, € 50 – even if the total of your monthly payment is € 300 – to get that extra month or leave, you must pay those € 50.
Thus the company guarantees that your interests do not increase, even if the debt remains intact. In summary: you can negotiate the return of your loan online , but always with a price.
WHAT TO DO IF WE HAVE NOT FULFILLED THE RETURN DATES?
We can always return the money, even if we are out of time. The majority of financial institutions of online loans allow us to settle the debt with payments by card , through transfer , or any other method of payment accepted. Of course, we must also address the interest for late payment, provided that the entity applies, although contractually can apply, not always apply and in some cases leave a small margin for the return even being “out of time “
If the delay in the return period is greater and we do not have all the outstanding amount we can call the banking entities and try to negotiate a personalized payment plan taking into account our personal circumstances. Entities are sensitive to our economic situation and can make adaptations. For companies it will always be better to receive the money later instead of not receiving any amount.
To get an adequate negotiation we have to be aware that we have not fulfilled the payment commitment and be realistic with the new economic conditions and new deadlines that we are going to face and the new commitments acquired.