Private Loan vs. Payday Loan

Image result for Private Loan vs. Payday LoanIf, for one reason or another, you find yourself in a dead end on the financial side but you need a large amount of money to acquire a property or to make a payment, you will surely fall on option to apply for a private loan or for a payday loan. But what is the good option?

If you are tinkering with a loan until you get back to its ground state, you will notice that a loan is essentially made up of a few factors: the size of the loan, the loan term, and the cost of borrowing. Another noteworthy method is the method of payment required to repay the loan, as this is important when considering payday loans. In the same vein, ask yourself the following questions:

1. How much money do you need?
2. When do you need it?
3. How much can you afford to repay each month? (This concerns the cost of borrowing, for example the interest rate)
4. How long can you afford to make these payments?

So, let’s look at a few different scenarios to determine the type of loan that works best for you.

If time is a factor, and the amount of money you need is less than $ 1500, then a payday loan would be the right choice. Payday loans are fast and convenient, and it works in a very simple way: you get the loan for which you applied and the day you are paid, a certain amount of money will be withdrawn from your bank account to repay your loan. It is a quick and convenient approach because you can get the loan you want very quickly and without having a headache, as long as you meet the loan qualification requirements.

Payday loans are known to be very expensive, but this cost is justified by the infallible automation offered by most lenders.

If you need a larger loan, your first option may be to opt for an unsecured private loan. Once again small (usually below $ 5000), this type of loan is not as “automatic” as a payday loan would be but quick enough to get (especially if you compare to something like a home equity loan). The method of repayment varies from lender to lender. The cost of an unsecured private loan is only a fraction of that of a payday loan.

If the cost (the interest rate) of a loan is important to you, then the unsecured loan may not be what you are looking for. For a loan to be negligible, the lender will want to have some kind of collateral in order to reduce the risk and the loss that would come with the event of a default. The usual assets that are used to obtain a loan are the vehicles or the goods. Individuals who are looking for smaller loans often avoid refinancing their home (the cost of breaking a mortgage loan may not be worth it) but rather opt for a better alternative: that of refinancing their mortgage. vehicle . This is a fairly easy thing to do if you own your vehicle or if your vehicle has a high value (if you have paid a large portion of the financing for your vehicle). If you have any questions about payday loans, private loans or car loans, do not hesitate to contact us by clicking here . What is the best option, do you think? Let us know by leaving a comment below.


  • The subsidy item is increased by 227 million euros

  • The debt with CERN, which is being carried over from 2010, will be settled

Image result for Carmen VelaThe proposal of General State Budgets 2016 allocates 1.765 million euros of non-financial expenditure to the Secretary of State for R + D + i, belonging to the Ministry of Economy and Competitiveness. The department led by Carmen Vela will have 227 million euros more for direct aid to R & D & i -including subsidies and transfers -15% more than the 1.511 million in 2015.

In the section of financial expense, the Secretary of State will have 2,446 million euros, 9% less than the previous year, (twittealo) amount allocated mostly to loans for companies, which are not sued in full.

Much of the increase in direct aid to R & D & I will go to regions with greater needs for development in science and technology. The Autonomous Communities that may have more funds for R + D + i activities in 2016 are Andalusia, Extremadura, Canary Islands, Castilla La Mancha, Murcia, Galicia and Asturias. Among the actions to be undertaken in these regions is the boost that the Bioeconomy Strategy will receive, which includes the agri-food sector, biomass, bioenergy and bioproducts, or the marine and maritime sector.

The commitment of the Ministry of Economy and Competitiveness for international organizations is reinforced, with the third consecutive budget increase for this item. In total, more than 158 million euros will be allocated, 10 more than the previous year. In recent years Spain is increasing its presence in the main international organizations, such as the European Organization for Nuclear Research (CERN), the European Southern Observatory (ESO), the European Molecular Biology Laboratory (EMBL) or the European Synchrotron Radiation Facility (ESRF). ). In 2016, the debt with CERN, which will be carried over from 2010, will be practically paid, since of the 158 million, 103 are destined to their quota.

Transfers from the State Secretariat of R + D + i for the operation of Public Research Bodies (OPIs) have increased by 20 million euros compared to 2015, to 828 million euros. Highlights the 467 million to the Higher Council for Scientific Research (CSIC), 1.9% more than in 2015; 165 million for the Carlos III Health Institute (ISCIII), or 78 million to the Center for Energy, Environmental and Technological Research (CIEMAT), 10.5% more than in this year. In addition, transfers to the Instituto Astrofísico de Canarias have increased by 17.6% for 2016, which translates into 10.7 million euros.

As for the Center for Industrial Technological Development (CDTI), the main driver of innovation in Spain, will have 30 million euros for direct aid, 35.7% more than the previous year.

Spring Cleaning: Bring Your Apartment on Front Man

Image result for spring homeAfter we in the first blog post, “spring cleaning: create space for new and save money,” our spring cleaning blog series have given some helpful tips for general spring cleaning, we explain in the second blog post, how to bring fresh wind through a change of scenery in your home.

Spring is approaching and many are already beginning to renovate their home. The winter often leaves traces on the houses, which must be removed. A simple spring cleaning on the balcony, terrace and in the garden is often no longer sufficient. When winter is over, renovation is not only needed outdoors. Especially when it is determined in the lease that the apartment must be maintained regularly, a renovation is also necessary indoors. But the change of scenery does wonders and, above all, it has a liberating effect. Walls must be painted, wallpapers applied and frames painted. A craftsman is usually required for these and other craft activities. But it costs a lot of money. If you want to save money, buy your own wallpaper and wall paint and just go. The necessary money for the materials you lend you quite comfortable with the Xpresscredit.


Borrowing money and canceling it as part of the renovation of the apartment in the spring

The apartment renovation in the spring can be very expensive. You save money, however, if you paint yourself, wallpaper and carry out a pending repair independently. Garden, terrace or balcony can also be revamped by yourself. Also for the spring cleaning in the apartment and other craft activities you do not necessarily need a specialist. You can, for example, put on the balcony itself the decoration that you wish. Just inform yourself on the Internet about the latest trends. For repair or decoration you get all the essentials in the hardware store.

Many are worried about the change of scenery in their home. However, you save a lot of money, if you inform yourself a little bit. Get the necessary knowledge and wallpaper the whole apartment on your own. With the right wallpaper from the hardware store you also have a nice decoration. Scratch and paper yourself and save a lot of money. If you need money for wall paint and wallpapers or you should hire a professional for these and other craft activities, you can borrow money through a microcredit on Xpresscredit.

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Borrow money comfortably in the spring with the small credit from Xpresscredit

Paint walls, carry out a repair or do other manual activities: these are the cost drivers in the spring. You will save money if you do the change of wallpaper or the spring cleaning yourself and do without a pro. Nevertheless, you need money for the materials. In the spring, however, you will save a lot of money if you use the small credit of Xpresscredit: Compared to other types of credit, the small loan from Xpresscredit is easy to pay with the next salary. Borrowing money has never been easier, because the application is just as uncomplicated and can be conveniently done online. New customers can borrow up to 600 € and existing customers even receive up to 1,500 €. With the small loan from Xpresscredit renovation and change of wallet are easily financed.


Renovate cost-effectively with Xpresscredit

The renovation of your apartment is associated with high costs. If you do the work yourself and do without a craftsman, you will save money. However, you also save money if you finance all costs with a microcredit. For this you have the Xpresscredit available. With the Xpresscredit you finance wall paint as well as wallpapers and carry out the due wallpaper change yourself. Just paint walls, floors, chairs and tables with self-purchased paint. The money for that you get straightforward at Xpresscredit. Start today with the Xpresscredit cost-effective in the renovation.Image result for renovate

Will I have to make excess income payments if I go bankrupt?

During your bankruptcy process, you may have to make excess income payments. These payments are intended to pay creditors as much as possible without ruining the bankrupt person. Surplus income payments depend on your income. The more money you make during your bankruptcy, the bigger your surplus income payments will be.

How much would I have to pay?

Image result for how much The Government of Canada regulates the bankruptcy process at all levels, including the amount of surplus income payments that a bankrupt person is expected to pay. The government is not trying to take away the entire income of a bankrupt person. They have created income thresholds that allow people in bankruptcy to maintain a reasonable standard of living while contributing to the repayment of debts.

Each year the Superintendent of Bankruptcy establishes new income thresholds based on Statistics Canada’s income statistics.

Size of the family Surplus income threshold
1 member $ 2,089
2 members $ 2,601
3 members $ 3.197
4 members $ 3,882
5 members $ 4,403
6 members $ 4.965
7 members $ 5,528

If your family income exceeds the income thresholds set by the government, you will have to make excess income payments.

During your bankruptcy

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During your bankruptcy, you will be required to file a monthly income and expense return with your licensed insolvency trustee (or trustee in bankruptcy). This statement is simply a list of all the money coming into your household over a period of one month, including:

  • Your paychecks
  • Any support payments you receive (eg, support to children)
  • Tax benefits for children
  • Any other money / income (eg rental of tenants)

You will also be required to submit a list that details how this income was spent during the month. This information will be used by your licensed insolvency trustee to calculate whether or not you will need to make excess income payments during your bankruptcy.

How to calculate your excess income payments for 2016

Image result for calculate In order to know if you will have to make excess income payments, you will need to include your income in the following equation:

Net income (for 1 month) – Threshold (based on the number of family members) = Surplus x 50% = Your payment

Here is an example of calculating excess income payments, which should clear the equation for you.

Example of an excess income payment

Marc is single, his net income (the amount he brings home after taxes) for one month is $ 2500. With the equation given above, the calculation of Marc’s excess income is:

$ 2500 – $ 2089 = $ 411 x 0.5 = $ 205.50

Based on this calculation, Marc will have to make an excess income payment of $ 205.50 to his trustee in insolvency for a period of 21 months. The total amount he will have to pay is $ 4,315.50.

Once the 21 month period is over:

There was no change in the amount of money he makes

There was no change in the size of his family

He made his 21 payments

There was no objection to his debts being paid

Marc will automatically be acquitted of his bankruptcy

Period of bankruptcy payments

In the example above, we explain that Mark will have to make excess income payments for a period of 21 months, but this is not the case for all bankrupt people. The total amount of excess income you make will determine the duration of your bankruptcy.

If your monthly excess income is over $ 200 (which means you are currently paying your insolvency trustee half of that each month in excess income payments) your bankruptcy will be extended for a total of 21 months.

Remember, if this is not your first bankruptcy, the total amount of your excess income payments you may have to make will be different. Consult your licensed insolvency trustee to find out more about a second bankruptcy.

Find the right trustee

Working in conjunction with the right trustee will allow you to go through the bankruptcy process as smoothly as possible. If you are looking for an experienced and trusted Insolvency Trustee, Prêts Québec can put you in touch with someone in your area.

If you are a teacher, you have a spoiled place in Credifiel

Steps to transform a debt into extra moneyOne of your dreams is to have a business of your own? You, like me, surely you also dreamed about this. In my case, my father was a taxi driver for many years and although it was not a business of those that have an establishment, of course it became the family business, which we could support for many years.

I was 13 when my father bought the car. I witnessed the effort he made to have all the money and I also accompanied him to the agency when he bought it. Joy and satisfaction could see them in his eyes. From that moment, I knew that I also wanted to experience, at least once in my life, the fact of being in the same situation, fulfilling one of my biggest dreams.

As I grew older, that idea persisted in my head. Of course, times change and the situation became more complicated. Every time the salaries reached for less and later, I had my children. I have always known that my vocation was in teaching, so for several years now I have been teaching elementary school children in a public institution.

It is always very motivating to see how, year after year, new generations come and go and we have the opportunity to see them grow. In addition, it is also gratifying to receive the comments of mothers who are aware of the growth and learning of their children. Without a doubt, I have always been very clear that being in this industry is one of the things that I love the most, however, we all have some other skills that are important to apply for life.

Being a teacher is something that has left me many satisfactions and I also want to continue having them. In my yearnings to withdraw from an educational institution, I want to continue teaching but it is also true that the salary we receive from public education teachers is not high. Actually many of us hardly and we have enough to live.

One of the most recurrent thoughts I have had in recent days is that in a few years my dream to start a business as my father did, would be to be truncated. Even though I am not an older person, I do not think I can save much to start my business. This considering that my children are growing and soon the university will come, besides, I have to pay all the expenses of the house and everything that a family needs.

When I was young, I once participated in an electricity and electronics workshop where I learned to use many tools and, above all, to carry out one of the most necessary activities in daily life. For several years, before my children were born, my free time occupied them in doing work inside the houses, it was like a home service in which I could get my clients who, in turn, helped me get more work. With the passage of time this became more than a hobby.

Although at some point in life this was a good business option, today I could not resume it. Although it is a very recurring and above all, very requested work, it is also necessary to dedicate a lot of time to each of the visits that must be done to check the damaged places. Nowadays this is quite complicated because I have children and also, I have to prepare the materials for my school.

So, what business would be the one that could start? For many days I’ve been thinking about this. Sometimes I get a little sad of not finding an answer that makes me feel satisfied. During the last months I have been wanting to learn about cars and the tools necessary to fix them, however, the classes, the materials and besides seeing this activity as a business, it is too expensive and I could not save to start a workshop in a short time.

In this moment of my life, besides wanting the business as a dream of my own, I also want it to be able to have extra income. I need to start thinking about the future of my children and also what I will do when I retire from class. One of the mothers of the school, she is also my friend and one day while talking with her she advised me to request a loan that would allow me to learn mechanics and at the same time, put my own workshop.

She told me that this is a very lucrative business and that in a short time I could get a great return on investment so that little by little the loan would be paid practically alone. After much thinking I decided to investigate about the credits although the truth, I was a bit afraid to ask a loan to the bank.

My friend also told me to ask at the institution where I work if they could give me some kind of credit because generally the government has agreements with some credit institutions and the whole process becomes simpler. Trying to flee the bank, sincerely what my friend told me was what I took as the first option.

Indeed, Credifiel and my institution of public education have agreements that allow them to grant credits for government teachers and with the advantage that they are via payroll, in this way, interest is reduced considerably and you will not have to pay two or even three times the amount you requested.

This news was wonderful for me since the procedures were very simple and I did not need more than a few hours to decide to get the loan. From that moment on, I only had to start investing the money. I already knew what I wanted so I just needed to do it.

Mechanics and business classes began to take shape. In a short time, my workshop was positioned within the colony and I was also able to hire a couple of other workers to help me while I continued teaching and teaching the children of the future of Mexico.

Meta description: At Credifiel we support public education teachers to fulfill each of their dreams through credits for government workers. That is why if you are a teacher you have a place allowed in Credifiel.

4 tactics to get a better job

1. Create an attractive curriculumImage result for artistic cv

A CV is a very important cover letter that will speak for you. Leave the outdated models and try to maximize your skills and experience. There are several tools on the internet that will help you to give a great design and format to your CV; however, that does not mean that you create an informal curriculum.

Laszlo Bock, former head of human resources at Google, only selected the best CVs in the recruitment process for Google employees. He focused on the fact that a CV should have an extension of maximum one page. “One page of curriculum for every 10 years of experience”. So do not put the primary school in which you studied, nor the address of your house, because those are not relevant aspects. In addition, the curricula with errors of spelling and with lies completely discarded them.

Another important quality that your curriculum must have are your achievements and abilities. Emphasize what you have done well in your work or academic experiences and provide measurable results.

2. Search in your university’s job bank

Do not make the big mistake of being a graduate and not create a profile in your university’s job bank. There you can find various opportunities and agreements that your university has with different companies or organizations. In addition, many companies search the university job boards because they are more inclined towards the profile of the students of certain universities.

3. Search on recognized job search platforms

Currently there are so many job platforms that it is difficult to decide on one and know in which to put our CV. Platforms that were once very large and to which many people flocked, have now become of little value to users.

It is necessary to make sure that you are on the correct platform, because otherwise looking for a good job will be a complicated and even disappointing task. According to your area there are already specialized and reliable sites that only allow prestigious companies to publish there. We recommend using sites like Fric Martinez , Indeed and Jooble.

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4. Maintain a wide network of contacts

The best option to find a job are the people we know throughout our lives. The contacts that we are forming can come from friends, family, colleagues, meetings, etc. Do not underestimate your interpersonal relationships and ask your acquaintances if they know of any job offer or if there is a vacancy in your company.

4 reasons why you need Life Insurance

Image result for life insuranceWe have all raised the possibility of hiring a life insurance , but in many cases it is associated with the signing of a mortgage with a financial institution. But, what other reasons can lead us to hire this type of service? We tell you!

4 reasons to have life insurance

  1. Family economy

A Life Insurance is very important for your family . Although the possibilities are small, in case of death your family will have an economic support that will compensate the loss of the deceased’s salary.

  1. Study of your children

As in the family economy, a loss can affect the future of those you love most. That they do not remain without studies. With a Life Insurance you will guarantee the future of the little ones in the house.

  1. Mortgage

Mortgage Life Insurance has always been related. If at home you have a loan with a bank, do not doubt that a solution to ensure the payment of housing in a Life Insurance. In Aegon, in addition, at an unbeatable price.

  1. Medical expenses

In unlikely cases of disability after an accident you will ensure the best medical or special care you may need.

What does a Life Insurance cover and how is its price calculated?

What does a Life Insurance cover and how is its price calculated?

A Life Insurance basically covers death and absolute permanent disability . It also includes:

  • Double capital due to death in accident
  • Advance payment of € 3,000 for inheritance tax
  • Psychological care for you or your family
  • Payment facilities and discounts
  • Legal advice
  • Optional coverage for Cancer.

Its price is calculated based on various factors (age, profession, state of health, among others …). The monthly payment is usually not very high, it will depend on the capital you want to insure.

For example, a 34-year-old man could secure up to € 51,000 in capital from just € 8.25 per month.

Why choose Aegon Full Life Insurance?

Because we have created a product designed for you and your family, with full coverage and that guarantees 100% of the insured capital.

Infographics: 4 reasons to have a Life Insurance – Aegon Seguros

Statistics of R + D + i Activities

Yesterday the National Institute of Statistics published the final results of the Statistics of R & D & I Activities. Among the main conclusions:

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Financing of R & D activities

In 2013, R & D activities were financed mainly by the Business sector (46.3%) and the Public Administration (41.6%).

The funds coming from the Foreigner (7.4%), the Higher Education (4.1%) and the Non-Profit Private Institutions (0.6%) completed the financing.

Staff employed in R & D

A total of 203,302 people were engaged in R & D activities, in full-time equivalent in 2013, which represented 11.9 per thousand of the total employed population.

The group of researchers reached the figure of 123,224.7 people in full-time equivalence, which was 7.2 per thousand of the total employed population.

40.2% of R & D personnel in full-time equivalence were women.

Expenditure and personnel in R & D by autonomous communities

The Autonomous Communities with the highest percentage of spending on R & D activities on GDP in 2013 were País Vasco (2.09% of GDP), Comunidad Foral de Navarra (1.79%), Comunidad de Madrid (1.75%) ) and Catalonia (1.50%).

The two Autonomous Communities that presented growth rates in R & D expenditure over the previous year were Extremadura (0.9) and Comunidad de Madrid (0.0)

Breaking a mortgage contract in Canada

Image result for breaking mortgage contractOne of the most stressful details associated with signing a mortgage contract is to make sure you understand all the penalties, especially with regard to prepayments and termination of the contract. If you do not bother to ask the right questions or have the protection policy explained to you, you may have to spend a lot more than you expect. By signing a mortgage agreement, you agree to make payments for a given period, a so-called term, which usually lasts 5 years (not to be confused with the amortization period). Once these 5 years have passed, you go back to your mortgage lender and review a new contract with him. When you break your mortgage agreement earlier than expected, it means that you want to stop making your scheduled regular payments before the end of your term. In general, people break their mortgage contract for a variety of reasons:

  • They found a better interest rate elsewhere
  • They need to sell their house
  • They want to refinance their mortgage

When you break a mortgage contract, you must pay a penalty to your lender. The amount you will pay depends on a few factors.

What type of mortgage do you have?

Whether you have a fixed rate mortgage or a variable rate mortgage is the factor that will most affect the penalty you will have to pay by breaking your mortgage.

Fixed rate

Unfortunately, trying to understand the penalty of breaking a fixed rate mortgage contract can be difficult and lead to bad calculations on your part. That’s why we recommend discussing with your lender before breaking your contract if you have a fixed rate mortgage. That said, here’s what you should expect. You will be charged what is called the IDF or en ais differential interest. This penalty covers the interest your lender loses when you break the contract. As mentioned above, this penalty is complicated to calculate but in general, the FDI you will have to pay is the difference between your current interest rate and the interest rate your lender can now charge with the same amount mortgage. Interest rates fluctuate; so the interest rate you have since signing your mortgage agreement may be different from the rate your lender could charge you now.

Floating rate

The penalty you will have in breaking your variable rate mortgage contract is much lower and easier to calculate. Your penalty will be worth 3 months of interest. Remember that all mortgage lenders calculate their penalties with their own equations; while you pay only 3 months of interest, expect some cost variations.

Preparing to break your mortgage contract

Image result for preparing While most people do not even think of breaking their mortgage contract before they even have a mortgage, it is very important to understand the consequences of breaking a mortgage contract before sealing your signature. Life is unpredictable and you may have to break your mortgage contract before the end of your term.

Here are the 5 most important questions about breaking a mortgage contract to ask your lender before your transaction is finalized.

1. Can I break my fixed rate mortgage before the end of the contract?

This question is important to ask as there are more and more “uncomplicated” mortgages that appear. Lenders are beginning to offer mortgages that allow borrowers to break their contracts under certain conditions, and it is important for you to know what mortgage you will acquire before signing your contract.

2. Is it possible to increase my mortgage (borrow more) without receiving a penalty?

You may decide to renovate your house along the way or simply add money to cover unexpected costs.

3. If I decide to break my mortgage contract but want to keep the same lender, do you offer a discount on the penalty?

Not all lenders offer this kind of encouragement, but some are willing to forgive the contract break or reduce your penalty if you break it but stay with them.

4. Should I pay an FDI if I break the contract of my floating rate mortgage?

As mentioned above, the penalty for breach of contract of a floating rate mortgage is generally the equivalent of 3 months of interest, but there are unconventional lenders who charge the FDI, the penalty of a breach of a fixed rate contract.

5. After a break in the fixed rate contract, will you give me a proportional penalty and if so for how long?

If you try to break a fixed rate mortgage while interest rates go down, your penalty will be affected, having a quote will allow you to weigh your options and make an appropriate budget.

Looking for more information on mortgages and mortgage rates?

 Looking for more information on mortgages and mortgage rates?

Signing a mortgage contract is often the first and biggest decision the average Canadian will make; understanding all the details and conditions is one of the biggest steps you can take to make sure there are no hidden issues that will come up later.

Feel free to contact us if you feel confused about mortgages and mortgage interest rates in Canada. One of our mortgage specialists will answer all your questions.