How to detect traps when obtaining a credit

Sure you, like us, know many cases where the applicant ended up paying a huge amount at the end of the term of your credit, or worse, while running your loan things did not turn out as they seemed at first.

This is something to which we are all exposed, mainly due to a lack of culture and financial education, this to some extent is not anyone’s fault, however, it is also everyone’s fault.

At Credifiel we continually receive applicants who have previously had bad and very unpleasant experiences when they had the need to request a loan.

It is true that in most cases, this happens because of a lack of information but it also happens because they do not talk about all the “Details” that involve the credits.    Usually, when people apply for a loan, it is because there is a great need behind them and it really afflicts them, so all they want is to get the money to solve a situation.

That is why it usually happens that at the time of the request, they do not pay attention to the details and in the end, people do not know exactly what they hire. In Credifiel we are aware of all this, for which, it is important for us to talk about the seriousness of the credit institutions and also, give you the necessary tips so that you can detect the most common, and not so common, traps that exist at the moment of request a financing.

Do you want to know them?

Let’s see them below:

  • The institution is not registered in CONDUSEF: CONDUSEF is the body in charge of regulating and overseeing your finances. The way to do it is through the regulation of financial and credit institutions.
  • That is why, before approaching any of them, you must verify that this body actually endorses it. With this, you can be sure that the credit is 100% reliable and that your needs will be covered in the best way.
  • Otherwise, what could you expect from an unrecognized company? It is also important that you report on your success stories, all recognized and reliable credit companies must have enough and in addition, in a visible manner.
  • Try to search the news all the evidence and references that exist of this organization, always the recommendations and the ratings given by the clients are one of the values that you should see in your suppliers.
  • Excessive and harmful use of technical language: One of the most common pitfalls that financial advisors use when they wish to cheat is the excessive use of bombastic words and technical language.
  • The reason is obvious, when people do not know about the industry, to listen to all the explanations with a language that is not very understandable, it makes people not understand and then it is easier to “turn the matter around”.
  • Most likely, if the applicants ask for an explanation in a more “digestible” way, the advisors use other words or terms that sound convincing as long as people accept the loan product.

If you notice that the language with which they explain the details and the operation of the credit is not very understandable, then do not trust them.

Much less you do it if under any criteria they can speak to you in a clear way. Maybe all they want is to cheat you.

  • Fees, guarantees and commissions: This is a point that for any reason you can lose sight of during the explanation of the credit provided by the advisor, on the contrary, it will be necessary that you focus a large percentage of your attention on it.
  • Do the first years have a low quota? Do they offer you great credits without an endorsement? To avoid any kind of bad experience or surprise, ask about the numbers to pay throughout the term of the credit, only then you can have a bigger picture of the amount you are going to pay during all the time you have the money.
  • For example, if they tell you that during the first years you will pay a low-interest rate, you should ask what happens after that period of time. Do interests accumulate? Is the interest rate multiplied?

It is also important that you watch the type of endorsement they ask for, for example, if the credit is small and they ask you for a real estate guarantee it will be better if you do not even think about taking it and withdrawing it with your healthy and safe finances.

Remember that a loan is to satisfy your needs and help you start your projects, so you should avoid in the greatest amount any type of “Rare” situation that may arise.

Many of them do not notice but they do feel.

In Credifiel we have granted more than 285, 040 loans, with which, more than 324, 694 families have been satisfied and completely happy because they made their dreams and projects come true.

Do you already know which one is yours and those of your family? So if you are a worker of a government agency request your credit via payroll right now, remember that it is already July and the time to meet goals does not wait.

Be part of our more than 1, 018, 520 smiles that have happily been able to meet your needs.

At Credifiel we listen to you and understand your needs, that is why we provide loans to workers from different government agencies who often do not have ample access to financial products.

Thewritingblockonline process your loan immediately.

The process is very simple since we have agreements with the government companies and the validation of data is carried out very quickly.

All you have to do is contact us to become one of our success stories.

Once you provide us with some information, we will verify it and within no more than 48 business hours you will have news. The advantage that gives you working in a public education institution is that the payment of your credit can be done under the process of “Payroll Discount”, so the interest is reduced so you can take better advantage of your credit.