Fulfilling the payment of the loan installments you have will help you obtain more favorable conditions for a next loan, such as better interest rates, a higher amount loan or a more adequate term to your payment possibilities.
All these benefits will make banks see you as a low-risk customer. However, there are some advantages that are more important than the ones mentioned above. The MiBanco Financial Office explains what they are.
- There are many tools, habits, and applications that can help you be punctual in the payment of your credits.
- You can schedule the automatic payment of fees. Enter a savings account from which a specific amount is debited monthly and keep track of the payments made in case of any inconvenience.
- Finally, it is advisable to have an extra amount of money with which it is possible to meet your obligations and payments in a timely manner if unforeseen expenses arise.
Keep a timeline: One way to keep your accounts in an orderly manner is to choose a payment date and have a schedule or payment schedule to be always alert. Put it in plain sight and mark it on your calendar.
KEEP IN MIND
Ability to pay: One of the main reasons why the payment of credits of wonga loan is not fulfilled is because customers overestimate their ability to pay. Never get into debt for amounts higher than your monthly income
.Beware of penalties: Penalties for paying out of time loans or loans are high, your debt and interest will increase and may lead to over-indebtedness. The rates vary according to the financial institution.
Likewise, being a good payer will help you to continue growing both personally (buying a home or car) and in the labor field. If you are independent and responsible for your payments, when you want to rent a commercial space, buy some kind of machinery for your business, etc., the banking entities will give you more facilities