3 indicators that it is not a good time to apply for a loan
He has a goal to meet and does not reach cash, so he decides to go to the bank and request a free investment loan. Until that moment there is nothing wrong, right?
However, sometimes that is not the best decision you can make.
Contrary to what many believe, credits are not those enemies that seek to end our finances; On the contrary, they are tools that can help meet pending goals or objectives. What you should keep in mind is that it is not always a good time to go after those goals or in any case, to borrow.
How to know that it is not the ideal time to borrow money from the bank?
1. When you have outstanding debts and have not paid more than 50%
Since all he would do would be to accumulate more and more debts, especially if he has not yet paid half of the first debt.
2. When you have already exceeded your ability to pay
Regardless of whether you have debts or not, if the fortnight is too small and practically works wonders to cover your expenses, borrowing will not bring anything good to your finances, on the contrary, it could harm them.
3. You have no defined purpose for money
If you are going to apply for a free investment loan, you need to know what you will do with the money. As much as the bank does not ask, the responsible way to enter the credit world is to define a loan objective.
If you encounter one or more of these indicators, it may be better to think twice before asking for credit. On the other hand, if you passed the test and comply with everything, before requesting the money, the ideal is to inform yourself well about the financial entities and one way to do it is using web comparators such as Elliot family, so that you can Know how much they want to charge you interest, what benefits they offer, among others.