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Thursday, April 18, 2024

What Benefits Can We Have From Credit Advisor

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Who is a credit advisor?

In developed countries, it is quite normal and natural that most people have their own credit advisor. When a person needs a loan, will address to this person for advice and help, as we speak in financial services in order to set and achieve our financial goals or pay real estate agent when buying a property.


The question is: what credit consultants can do for me? Is it the person that will charge expensive his services only to sell a certain product regardless satisfy my needs or not?

We live in a time when it becomes easier to obtain credit debt. A large number of people have loans, some them keep paying while others not so much. Although the conditions for obtaining loans increasingly favorable and advantageous, most people when deciding to take a loan has a great confusion of the issues:

1. Which bank has the best conditions and interest rates for the loan that meets my needs?

2. Will I be able to satisfy the conditions of the bank and my credit rating undermined by past debts?

3. My company cannot reach a favorable long-term loan, although short-term loans back regularly for a long time. It’s choking my business and hinders me further develop the market, although I have a great potential. How to get a long-term loan?

4. I am employed and work abroad, and I do not know whether these benefits have an impact on my credit rating in the home country?

To all these questions the answers can be given by credit advisor. Also one of the most useful services is that he knows which bank offers the best loan terms for certain purposes, because each bank has certain advantages in some areas.

The credit advisors who are more educated, and have more expertise, also have information on the required documentation and conditions, as well as presentation skills presenting the business project.

The problem that arises when we give our paperwork for the credit demand, is that this requirement is usually left on the desk for about ten days, after which we receive the answer about what is missing.

So time goes day by day, and we become emotionally exhausted and frustrated. This problem is solved by credit advisor, because practically he knows all the details regarding the conditions and paperwork that must be met, as well as documentation that is required.

Sincerity to credit counselors

It is very important at the very beginning, be achieved open and honest communication, before the credit advisor forwards the paperwork for this loan. Specifically, if the credit advisor knows all debts of potential client immediately, then he can better take care in front of the bank loan committee. Otherwise, this can cause serious problems and loss of time, if his client withhold something, then he loses credibility in front of the clerk at the bank. So it is useful prior meeting with our credit advisor, to list in detail all our financial situation, credit, and debit as well to clear up our intentions and needs.

We know that every quality service costs money, and it is very important what kind of people we have in our environment, because it depends on our personal success. A good credit advisor has the knowledge and skills necessary for easy operation, he knows how to handle a bank, knows where to go and how to create our business plan, and how to explain to the bank why do we need a loan. As in any other market, appearing of people who are unprofessional, and charge their services is omitted.

Here are a few tips when choosing a credit advisor:

1. Charges of 0.5% to 1% are acceptable, whereas those of 2% to 4% or more are too high.

2.Fair approach is to pre-approved credit, advisor agree with the client about the method and amount of payment and the fee to be paid upon approval of the loan. Otherwise, it may happen that a client pays a fee for the realization of the loan, after which the loan may be disapproved and then there can be big problems.

3. At the time the loan was obtained in principle, it is recommended advisor and client to sign a contract in which will be specified the amount of the advisor commissions, and that the customer has given reliable data.

4. If the loan is not approved by any chance, an adviser is required to compensate his client incurred expenses, but only if the client was honest and upright in the description of his property situation.

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