Contracts of bank and financial loans
 As all financial activity, the loans must be endorsed by a contract signed on all the parts involved in the same one. It is important that we bear in mind that the loan contract possesses certain clauses to which, so much the part that grants the loan as the part that receives it, they must become attached. One of the principal ones alludes to the plan of payment granted by the financial company; in this part of the contract there is stated the money-market rate that will be applied in the above mentioned loan, the term of the same one, and the way in which the quotas will be distributed, monthly, quarterly, half-yearly or annually. Based on this we can say that the consumer (whom receives the loan) must fulfill with each of the obligations that are detailed in the contract of loan, which alludes not only to the entire return of the obtained amount but also to him the corresponding interests must add.
Also we must bear in mind that all the financial and bank institutions protect his investments, and that's why the person whom the loan is granted has the obligation to inform the same one, the current economic state, his goods, or any type of effect that could turn out to be useful like guarantee or guarantee of the contract of loan; in turn it is necessary to inform if there are possessed debts to some another entity and a detail that is not minor, it is that it results from big utility to be provided with some type of insurance that could endorse us in case we could not continue with the payments of the carried away debt. Generally, the contracts of loan that present all the financial institutions, are endorsed and registered in the central bank corresponding to every country, since the financial company realizes the investigation corresponding to the credit bureau of the person interested by the loan by means of the information system that the central bank possesses. Nevertheless, it is important that we clarify that no financial institution has right to consult on the credit and financial record of a person, if it is not provided with a legalized permission of the same one and is important that in case the financial company that will formalize the préstams contract realizes the investigation without his assent, then you will be in all his right to realize a demand in his against.
Also it is fundamental that once closed and signed the contract of loan, it is necessary to be supremely careful with the non-payment and the arrears in the quotas corresponding to the return of the loan since at the moment when a minimal non-payment situation is created, the financial institution immediately raises the information of this person to the byline of credit corresponding to defaulting clients.
And bearing in mind that this type of information is consulted constantly by all the financial and bank institutions, it is important that before the request of another credit, the record cleans completely credit, that is to say that all the carried away debts must be cancelled, otherwise it will be impossible to gain access to some another financing service to us, independently of that it is by means of the same company or different other one. Anyway we must point out that the debt refinancing is usually a clause appellant in the loan contract, but we must think that the same one will have an aggregate value, also, so that the efectué same one in case of quotas non-payment, the debtor will have to present the corresponding documents that endorse his payment impossibility.
There do not exist the cases in which a financial or bank institution formalizes a loan contract with a prestario whose monthly income does not overcome the minimum wage established by the government corresponding to every country, since if you perceive a minor salary to the established minimum wage, the same one will not be able to be impeded and as well we know, the salary receipt is one of the principal guarantees requested in the loan contract, neither on the other hand will be granted loans superior to 50 % of the income that perceives the prestario. Finally we do not want to allow mentioning that one of the key points that raises the loan contract is precisely the consequences for the non-payment of the quotas; generally the entity lender resorts to a judicial process which will serve so that the goods that are stipulated in the loan contract like guarantees of the same one are impeded by it and it is important that we bear in mind that if they are not fulfilled by the obligations in the sequestration period, the same goods will be complete. |
