Small Business Loans Online -Incms.Cz

What happens to your debt after death

What about borrowing and dying money? Little is written about this topic. So it’s time to change that. On this page you will find out what about a loan if you or your partner dies. The question what happens to a loan when you or your partner dies is a question few people ask. We assume that you do not want to burden your relatives with a debt and therefore want to know more about this subject. You will also find more information about this subject here. For example, there is the option to insure the debt separately so that it is canceled in the event of an emergency. But there are also several providers who have already included this as standard when providing a loan. A number of conditions must then be met, you can read more about this in this article.

 

Remission or debt acceptance

Remission or debt acceptance

The bank or lender will always recover the outstanding amount of a loan from the surviving relatives. The surviving relatives are obliged to take on the loan if they accept the inheritance. Do they not accept an inheritance? Then they are also not obliged to take over the outstanding loan. The bank or lender will then cancel the debt. For a complete overview of the outstanding debts you can request an extract from the BKR, which shows all the loans that the deceased took out in the Netherlands. On this overview you will find not only any loans, but also debts on credit card, mail order company, customer card (s) and bank overdraft.

 

Reject legacy

If you are afraid that the number of debts exceeds the assets, you can consider rejecting the inheritance. You then do not have to pay any of the outstanding debts, but you can also no longer claim any money that remains after the installment. If the deceased appears to be wealthy, then you cannot undo this choice. So think carefully about this before you make this decision. If you still want to reject the legacy, you have to go to court. You have to do this within 3 months after the death and the costs are around 120 euros. Note: This cannot be undone later.

Certificate of inheritance

Certificate of inheritance

You will probably need a certificate of inheritance in order to request an overview from the BKR. You can get this at a notary. There are costs associated with this that can still run nicely, so compare a number of notaries by price. This is all you have to pay attention to, because the same paper is handed over to all notaries. Since the costs for a certificate of inheritance can go up to 1000 euros, it seems a good idea not to take the first one randomly.

Accept less risk with beneficiary

If you are not sure about the number of debts that can be in the legacy, then a good second solution is the so-called beneficiary accepting the legacy. All assets of the deceased are first sold, then all outstanding debts are paid with this capital. The money that remains then will be paid to the beneficiaries. The advantage is that if the assets do not yield enough to pay off all debts, this will not be passed on to the heirs. These remaining debts will then be canceled.

What about study debt

What about study debt

In the Netherlands, everything that has to do with finance and studying is arranged by DUO (Education Implementation Service). They adopt a lenient approach in the event of death where there is still a debt outstanding. All outstanding debts are canceled. If the deceased lived in the Netherlands, you do not have to take any action, the municipality handles this and reports this to DUO. 

Whether or not a will

Of course important to determine whether or not you are heir. If a will is made, this is immediately clear and the notary will indicate who may call himself an heir. If there is no will, you can easily determine this yourself, as there is a sequence in 5 steps.
1. Spouse, registered partnership, children.
2. Parents, brothers and sisters.
3. Grandparents
4. Great-grandparents
5. Dutch state
As you can see in the overview above, nephews, nieces, aunts and uncles are not included in this list. So when there is no will, they cannot claim anything. Here you can read how you can ask if there is a will. This must always be done by a notary or a candidate civil-law notary, who then requests this in the Central Testament Register, where all testaments made in the Netherlands are registered. There are costs involved.

Prevent better than cure

Prevent better than cure

Do you want to prevent your relatives from being burdened with a debt? Then you can take out insurance on most loans. With this you insure a loan in the event of death. How it works? This special life insurance policy will pay out a sum of money in the event of death with which the loan can be repaid. So no debt remains open. If you have taken out a loan of 50,000 euros a few years ago and if you suddenly die, 25,000 euros of this is still outstanding, the remainder (ie 25,000 euros) will be repaid in full with this insurance.

What does such insurance cost with a loan?

What does such insurance cost with a loan?

What are the costs of a term life insurance that you can take out with a loan? This of course differs per bank and lender. You pay a monthly premium for this, but you may also pay a one-off brokerage fee if you arrange for this to be arranged by the bank or lender. Remember that it is not mandatory to take out such insurance! And perhaps you have already taken out a life insurance policy, for example together with your mortgage. In that case, ask the insurer whether you can also have the new loan insured with them on the same policy.

Loan is automatically insured

Loan is automatically insured

In certain cases, loans from banks and lenders are insured as standard in the event of death. In that case, you pay slightly more interest because these costs are added to the loan. The loan contract always clearly states how a loan is structured and what you are going to pay for.

Take out individual life insurance?

You cannot insure yourself against death at certain banks / lenders. In that case, we recommend that you simply take out a separate term life insurance policy. With many insurance companies you can take out such insurance with a loan. Often, with a separate insurance policy you are also a bit cheaper. With a separate life insurance policy the surviving relatives receive an amount in the event of death. This amount has been agreed in advance. You cannot link the amount of money to a loan, but you can of course pay off the remaining debt with the payment of the insurance that you receive in the event of your death.

Steps to be taken in the event of the death of a loved one

Finally, an annoying subject, but for the sake of clarity in this article, the steps to be taken in the event of the death of someone dear to you. This way, this is done in a way that takes a lot of thought and puzzle off your hands. Below the checklist.
✓ Request the death certificate
✓ Request the deed of inheritance
✓ Request data from BKR
✓ Consult with notary about the inheritance
✓ Check whether there is a life insurance policy
✓ Arrange funeral and possible financing

Cheapest revolving credit

Where can you find the cheapest revolving credit is a common question. Of all money loans, revolving credit is the most popular form of borrowing. This is because you have maximum flexibility because you can withdraw the already repaid money as long as your revolving credit is active.

 

Cheapest revolving credit

money

With a revolving credit you agree with the lender on the amount you want to have available and in what period you want to pay it back. Furthermore, it is of course agreed how much interest you will pay. But what is the cheapest revolving credit?

 

Expensive insurance

First of all you have to be careful that you are not obliged to take out expensive insurance, this often seems to be the cheapest revolving credit, but if you add the compulsory insurance to it, it becomes a lot more expensive.

 

Interest from the revolving credit

Interest from the revolving credit

Nowadays, bodies that lend money are required to show how much interest you will pay in total, plus any closing costs to be paid. This story is correct if you do not withdraw the repaid money. This makes the revolving credit somewhat unclear. But it must at least be stated what interest you are going to pay.

 

Variable interest

interest rate

The interest rate for a revolving credit is variable and rises and falls with the interest rate. Although it is annoying and boring, it is important to read the fine print especially well. All features for a revolving credit in a row.

 

The duration is variable.

Cheapest revolving credit has a relatively low interest rate.

The interest is variable, so also your repayment.

Interim repayment without penalty is possible.

Amounts already repaid can be withdrawn

Revolving credit popular

 

The revolving credit is also popular because the borrowed money is not deposited into your account as with personal credit, but the borrowed money is made available to you. In other words, you will only pay interest when you start using the revolving credit. If you do not need money at that time, it also costs nothing.

Borrow money quickly

You probably know it. You will always be confronted with an unexpected and usually large expense when you are short of cash. Usually it is the washing machine that often manages to stop it at the financially most unfavorable moment. For a few days you can still do without, but longer is actually no longer possible. Your savings balance is zero and you have not yet received your salary, help !! Fortunately, there is the possibility to borrow money quickly for a new washing machine if you meet the conditions. You can then borrow an amount that is sufficient to purchase a new washing machine.

Borrow money quickly for new washing machine

Borrow money

Of course a washing machine costs the necessary money, but is it worthwhile to request a loan from your bank? No, because there is a much easier and faster way to arrange some (extra) financial scope for a short time. At a bank they often work by appointment, you are buried under a barrage of questions and you are also tested by the Credit Registration Office  in Tiel. A mini-loan offers a solution, because you can borrow money without credit check and the great thing is that you don’t even have to leave the house.

How does it work?

money

Arranging, because that’s just everything, a mini loan works easily. A mini loan offers you the possibility to borrow relatively small amounts for a short period of time. You should think of amounts from € 300 to a maximum of € 1000. In most cases you have to repay the mini loan within 30 to 45 days. A great solution for our example of the washing machine, because you have already received your salary during this period. You can easily choose a mini-loan provider via the internet. You enter your details and usually the amount you need is in your account within 24 hours! And all this without in-depth questions and without testing at the credit check. How easy do you want it to be?

Mini loan great solution

Mini loan great solution

A mini loan is a nice and excellent solution if you are short of cash at a time when this is just not convenient. You quickly have the financial room you need, without questions. It will probably not surprise you that a mini loan, also called a flash loan, will cost you money in the end. You pay an amount in interest, but in practice the costs are not too bad, because the duration of a mini loan is only short. Maybe the solution for you too!

What is a Home Loan?

Obtaining housing loans is one of the most difficult tasks in modern society. Both the increasing unemployment problem, low salaries, and the fact that life became much more expensive have made it a dream for people to become homeowners. However, there are some solutions for this situation. For example, the housing loan option offered by banks as a result of people realizing this situation has paved the way for many low-income homeowners.

With the emergence of these loans and the fact that they became legal in 2007 under the name of mortgage – mortgage loan , banks became a glimmer of hope for owning housing on behalf of people with low income. Especially with the legalization of this loan, many different options in housing loans were offered to bank customers. This situation has increased the citizen to a more advantageous position than before. Loan applications made to banks for the purpose of owning housing have naturally increased parallel to this.

 

Is There a Precautionary Procedure Followed by Banks?

bank loan

Banks conduct a highly detailed review of their customers applying for mortgage – mortgage loans . This is because housing credit generally means very high sums, and banks must establish a full trust relationship with their customers in order to offer these sums. In addition, if the loan application is approved, it is checked whether the house that is planned to be purchased is eligible for the loan.

If the house is not eligible for a loan, the bank will not make any mortgage payment. This is due to the fact that banks keep the house under mortgage until the end of the payment of the loan. It will not be wrong to say that the person who owns the loan does not have a 100 percent right on the house until he / she pays his debt. If the debt is not paid, the house purchased by credit will be confiscated by the bank. After the loan is paid in full, the person who applies for the loan will be the owner of the house and the mortgage on the house will be completely removed.

 

Is there a condition of guarantor for housing loans?

housing loans

As a rule, there is no requirement to show any guarantor when obtaining a housing loan. After the loan is taken home mortgage will be taken. However, it should be remembered that although there is no guarantor requirement in the housing loan, the credit rating of the borrower will be very attractive and it will be difficult to obtain credit if the credit rating is mediocre.

 

Which types of houses are eligible for housing loans?

Which types of houses are eligible for housing loans?

First, check whether the house has been completed. If the house to be purchased is not completed yet, it is necessary to have the easement deed. If the house is completed and the resettlement is taken, the bank will request the ownership of the title deed. If the house does not have a condominium, an additional fee must be paid for the ownership. However, in order to acquire this property, the resettlement must be present.

The age of the house is one of the most prominent issues about eligibility for housing loan. For banks, the age of the house may not make any sense at all times. In fact, the most important thing for the bank is to guarantee its receivables and to be able to cash the house. On the other hand, if there is no housing project with which the bank is contracted, at least eighty percent of the house to be purchased is completed in terms of accepting mortgage – housing loan application.

 

What is required to apply for housing loan?

In order to apply for a housing loan, first of all it is necessary to reach the age of 18. Anyone who has completed the age of 18 and can document their income can apply for a housing loan. Of course, it will be necessary to document income status and to present official identification documents.

Ten tips for borrowing money

 You don’t just borrow money, but do you have to borrow money for everything you want? Of course you have to take out a loan before buying a house or buying a car, because most people do not have this amount in their bank account. Nowadays a lot is borrowed for luxury items that are not really essential, is this wise? With the ten tips for borrowing money you can see what you should pay attention to.

Purchase by installment

Purchase by installment

You can also buy a new installment television, but you can also buy a holiday or a new couch on ‘the bar’. Many people do not realize that this way of borrowing is very expensive. Where you usually pay around 7% interest at the bank or other lending institution, you will soon pay around 25% interest on goods you buy on installment, it is easy, but a very expensive way of borrowing, see the ten tips for borrowing money for explanation.

Pay with credit card

Pay with credit card

Every credit card also has a high interest rate, which will only start to accrue interest if you opt for the spread payment option, which is also the only way that credit card companies can earn money. If at the end of the month you simply pay everything you have spent in that month, you will not pay any interest at all. With the ten tips for borrowing money you can see how you can prevent this.

Prepaid cards

Prepaid cards

Nowadays you also see many so-called credit cards where you can only use the amount that you set up there yourself. These are not actually credit cards, but prepaid or debit cards. So safe because you can use what you have put on the map yourself. The disadvantage of such a prepaid card is that when renting a car or booking a hotel room an amount is often reserved until the end of the agreement. With credit cards you do not notice this, but with debit cards you have lost this reserved amount and you have to keep a close eye on the fact that the amount is also refunded.

Ten tips for borrowing money

Ten tips for borrowing money

With the ten tips for borrowing money you can see what you should pay attention to when taking out a loan. Compare the providers and not only choose the cheapest, but also pay attention to the best conditions.

1. Compare the interest to be paid, even a half percent interest can already be a nice amount.

2. Buying with installments, standing in red at the bank, and paying in installments with a credit card means that you are always the most expensive, this can sometimes save tens of percent.

3. Be careful with an offer with a low interest rate, it may be that this low interest rate is for a short period only and that you will then pay a much higher interest rate.

4. Check carefully whether a provider has a license from the AFM, you can check this on the website of the AFM.

5. Compare different providers, note that not all providers are reliable.

6. Is the amount higher than what you have requested? Then you have to be on your guard because the institution has also talked to you about insurance.

7. Pay attention to the interest rate, is it fixed for the entire period, or variable, with a variable interest rate you may have to pay more during the term.

8. Also look at the fines that must be paid if you pay too late, how high are these fines and when exactly are they charged.

9. Can you pay off earlier than agreed, or do you have to pay a fine, certainly something to keep an eye on.

10. Previously mentioned. Pay attention to which insurance policies you need to take out to get the loan, this increases the amount to be repaid considerably. It is also called tying and it seems that you MUST take certain insurance policies to get the loan.