Credit contract: To read and then accept

Many people are elusive and reluctant to the word " credit " because they associate it with contracting debt that is difficult to pay, however none of this would happen if they read the contract before taking it.

When you are going to acquire a loan for the first time, there are many steps that are not fully complied with, the anxiety and desperation to see the application approved and, once granted, that of being able to dispose of the transferred money, are facts that play against borrowers. Among the serious mistakes that are made is not reading the terms of the credit agreement , the best manual that can explain under what conditions you receive the money, to which to return them and how to proceed in different situations.

A careful reading will provide knowledge on the subject

There are many things that the contract says and no matter how small print you have, make sure you read them all because, in each clause everything related to that money that can be had is detailed, you have to see the contract as a manual, it will not say on what to use credit or how to do it but if it will serve to keep the debtor attentive to each step they must take and how long they are expected to be taken.

Both credits and loans have a date for the cancellation of installments, with a loan the situation is easier to understand, since the same and exact amounts are set from the beginning, because the exact amount that is being transferred is known to the person. With credit, this is not usually the case, and the terms can be marked by monthly, bi-monthly cycles, or any other rhythm, and the defined amount that will end up being used by the person is not known either.

Hence, only the credit agreement will be able to clarify such important details as the time and amount in which the payments will be canceled.

Another aspect of great interest is the rates that the lender will charge, not all of them offer the same, nor will the amounts be the same according to the type of calculation that is made, since there are several systems and it is a matter of which one the lender works with. .

Finally, and in order to avoid misunderstandings, bad experiences due to non-compliance and not knowing everything agreed, you must know how the person should respond to them and how they should proceed in case of needing a new credit agreement. .

Of course, you can consent to the document

Only after the credit agreement has been read in its entirety can it be signed, any term with which you do not agree must be discussed before, after that there is no going back and it settled there will be taken as the only valid procedure for the duration of the credit and its return.

It is important, for a positive credit financing experience , to comply with this important requirement, which means reading the contract ... and then signing it.

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