Consumer credit report: how to build it?
The particular mounting of the file to get your consumer credit is structured around 4 points: building, the state of your personal circumstance, your borrowing capacity as well as the required documents to provide.
How to best create your file to prepare your application for the loan?
The nature of your project depends on the type of credit you choose:
- You curently have a clear idea of the residence you want to buy or the prepared service: the credit allotted is an option to consider. This allows you to unlock an amount of cash intended for a specific use, specific in the loan agreement. Should you have already spotted a car or maybe the trip of your dreams, this kind of credit is for you.
- You need a more versatile financing solution:
- The personal loan: with this credit score, no proof of expense is going to be required, you can spend the particular loaned sum as you want.
- The spinning credit: again you will not be requested proof of use of the amount lent. More flexible still, this particular loan puts at your disposal the reserve of money which you can invest totally or partially, based on your needs and desires.
Your personal situation
To create your file, credit institutions will even study your personal situation:
- Your causes of income: what are the salaries or even profits of co-borrowers? Would you get real estate income (rents for example)? etc .
- Your professional scenario: what type of work contract are you experiencing? How old are you within your company? etc .
- Your current expenses: how much would you allocate to your current expenditures? Do you already have one or more various other loans in repayment? and so forth
- Your finances: do you have unpaid or postponed repayments in the 3 months previous your loan application?
- The composition of your taxes home: how many people are you experiencing in your household? This information can play on the quantity of your stay-to-live.
Your borrowing capability
Your borrowing capability will also be a key element of your own loan record. Borrowing capability allows you to know the maximum quantity that can be borrowed based on your earnings and expenses.
To calculate it, it is crucial to be based on:
- your debt ratio: it really is generally accepted that this tolerance should not exceed 33%;
- the amount of your personal share, if you have one: for a credit, the contribution is optionally available;
- the rate from the credit: take as time frame of calculation the APR (Global Annual Effective Rate), which usually takes into account all the expenses associated with the credit;
- the ideal amount you can set aside to the monthly payments of this brand new loan;
- the particular expected repayment period: for instance , if you use this credit to get a car, it is advisable not to pay it for more than five years, which corresponds towards the average life of the automobile.
A certain amount of pieces must be sent to the particular lending institution to finalize mount of your file:
- a copy of the valid ID;
- proof of address less than three months old
- evidence of resources (payrolls, tax sees, etc . );
- your last statements associated with account;
- the RIB or IBAN from the account from which the monthly obligations will be taken.