Died, This Is The Way That Credit Card Bills Can Be Erased – Cermati.com

Although the use of credit cards is very common in the community, it turns out that knowledge about the ins and outs of this card is not fully understood by customers. One of them is about the conditions during an emergency, for example, a cardholder’s customer dies. What about the card bill that still hasn’t been paid? Is it automatically considered paid off or is the responsibility of the heir?

As regulated in Article 833 paragraph (1) of the Civil Code (Civil Code) that the heirs of the deceased client get ownership rights to all goods, all rights and all receivables of the deceased person. This means that if the heirs are willing to accept the right of inheritance to eat legally must also be willing to be responsible for the liability of the deceased heir (customer) including the obligation to pay off credit card bills.

Credit card bills are optional insurance facilities


Credit card bills are insurance facilities that are optional, can be taken or not by the customer. This insurance protection is usually offered when applying for a credit card or when starting to pay bills. If you take insurance, then when there is a risk of death the bill will be covered by the insurance, and vice versa.

If you have not joined this insurance program, then it is better to contact the bank if you want to get protection. Premiums paid monthly are paid together with monthly bills or installments.

The amount of the premium is usually around 1% of the value of the monthly credit card bills (often below 1%), for example, at bank A the premium for insurance protection is 0.50% of the monthly bill, or at bank B at 0.60%. Not too expensive actually, rather than later burdening the heir when a risk of customer death.

Different insurance, different benefits

Different insurance, different benefits

Each bank has its own partnership with each insurance company to offer their credit card protection products. Customers should study each of the benefits of the bank and insurance collaboration product and adapt it to their needs.

For example, bank A offers an attractive product in the form of a 30% bonus from the bill if during participating in the insurance program, the customer has never made a claim for at least 3 years specifically for a monthly premium value of USD 50,000.

Different again with bank B customers who can get attractive offers in the form of credit card debt protection that protects customers from critical illness, meaning that if the customer experiences a critical illness risk that falls into that protection category, the insurance airline will pay all customer credit card bills.

Credit card insurance products usually include at least protection from the risk of death, permanent disability, and temporary disability.

If Done Right, the Process for Handling Credit Card Bills is Not Complicated

If Done Right, the Process for Handling Credit Card Bills is Not Complicated

As long as it follows the process correctly and the complete file, the credit card issuing bank will also process it quickly. They also understand the calamity experienced by these customers.

The key is to equip your credit card with the required insurance. You can buy through a card issuing bank (practical, one-stop service) or can also go directly to insurance companies (usual premiums are cheaper).

Debt Solution: 4 Strategies You Can Adopt

There are times when the situation tightens, the account does not close and the result is s one: debts begin to accumulate. But running after any loan is how debt solution can make things worse. The best to do is to stay calm and invest in realistic financial planning to restore the financial situation and stay away from further damage. If this your reality, this article will help you get out of trouble. Check out our list of 6 strategies to solve your doubts and return to live peacefully. 


Have a good financial organization

debt solution

Wait, want to get out of the red but you don’t even know how much you are owing ?. The first thing to do understand the dimension of the problem: how big is your debt, how many installments are still to be paid and obvious, your values and which one the interest rate. With this panorama, you are a realistic picture of your financial health and power draw up an action plan prioritizing debts and considering their real risks, avoiding further losses such as losing assets such as cars and houses, for example.


Make a debt management plan

Now that you do you know the real scenario of your debts, investing in a payment plan should be the first strategy to solve your problem. For that, you must observe your income and expenses: reduce everything that is unnecessary and allocate a part of your income to pay off debts. A good tip is to boost your income with Overtime and Jobs like freelancers. The extra income will help to leverage your plan. 


Renegotiate your debt

Renegotiate your debt

Renegotiate your debt it is a way to prevent interest from continuing to increase the amount in debt exponentially and, mainly, to try to reduce the amount due. From renegotiation, old life extinct and a new one open. So, if your name was negative, it may be a great way to clean it up. Get in touch with the lender and present your negotiation proposal within your real payment possibilities. Show firmness and willingness to pay what you owe, but remember: if you do not comply with the negotiated, the name returns to the default record.


Bet on debt consolidation

If you have many doubts, research the possibility of consolidating them in a single. That is, you acquire a loan with lower interest to pay the debts and is left with only a debt to be paid. The main advantage of this strategy the reduction of interest rates, which makes it one of the best solutions to save on the payment of debts.


Search for a refinance

loan refinance

Refinancing assets like an apartment or car as a solution to outstanding debts helps eliminate high-interest spending. The big advantage of this type of personal loan that has the assets as collateral the interest rate is very attractive in relation to other types of credit available, which allows to save in the long term and create up to even plans to pay off the refinancing more quickly. a good solution for those who are very indebted or with a dirty name in the square. It is necessary, however, to be careful with the installments, because if you do not pay them, the bank or financial institution can take your good and auction it Seeking a solution of doubts never easy. Often, staying in the red requires less discipline and commitment, but the path of effort, patience and great rewards towards organized financial health. 

Community Loans – Credits and investments between individuals

At Community, anyone with the appropriate level of solvency can apply for a loan, which will be financed by others like him who operate from the other side as investors. Thus, the profitability that a bank normally obtains for a personal loan is distributed by Community among the individuals who exercise this role.

Who can ask for a loan in Community

Who can ask for a loan in Community

Any natural person of legal age and resident in Spain can apply for a loan. Companies cannot take advantage of this service as a financing formula, although they can benefit from others, such as the promissory note discount, which Community also manages.

From these first basic requirements, there are others that must be fulfilled for the approval of the loan, which are summarized in presenting a set of labor and family-family circumstances that configure a low risk profile and that offer sufficient guarantees. This profile is the one that Community will study if the request is pre-approved, in which case you will be asked to send the supporting documentation that is needed to make the appropriate checks.

How much can be requested

How much can be requested

The minimum amount for a loan granted by Community is 600 USD, although this amount can go up to 8,000 USD, which is the credit limit that is offered. The term and interest are variable, but while the first factor is decided by the applicant among the possibilities offered (6, 12, 24, 36 and 48 months), the second is at the discretion of Community depending on the degree of solvency. What present. Typically, these interests range between 8 and 17 percent.

To establish this degree of solvency, Community requires the sending of certain documentation. In the case of being an employee, it will consist of a photocopy of the DNI on both sides, a copy of the income tax declaration (IRPF), a bank statement of the last 90 days of the account where usually They pay you the payroll and a copy of the last three payrolls received.

If you are self-employed, in addition to the DNI and the income statement, you must attach the last 3 supporting documents for installment payments (form 130/131) or VAT, copy of your working life (failing that, registration in the IAE and the last two receipts of the self-employed payment ) and a bank statement of the main account of your activity during the last three months.

With all this information, the application will be rejected or approved, and in the latter case, a risk level, A, B or C, will be assigned, which will affect the interest to be paid. The higher the risk, the higher interest you will have to pay for the loan. The approximate period of time to obtain a response from Community is two days.

The conditions to apply for a loan are demanding, since it is Community’s responsibility to guarantee that the individuals who decide to act as investors have the adequate level of guarantees for their money.

Credit approved

Credit approved

If after this exhaustive study your application is approved, there remains a second part of the process, getting investors to finance it. It should not be forgotten that the function of Community is, mainly, to carry out intermediation functions between investors and borrowers, establishing the necessary guarantees and mechanisms so that the entire process is conducted normally and smoothly. This means that some get the money they need and others the return they expect.

Precisely because of the demanding requirements and the depth of the previous study, obtaining the financing of the loans is not a difficult task. Investors usually diversify by investing in many different loans as a way to minimize risks, so the fact that a client has been considered level C (higher risk level) is not going to be an insurmountable problem.

Level C customers pay higher interest, which means a higher return for the investor. Therefore, according to the usual practice of diversifying investment in different loans, individuals usually establish a portfolio with investments in clients of all three types. Part of its investments are destined to loans with the maximum guarantees but less interest, another to those with a higher risk and a more profitable return, and a third to those who maintain a balance between both aspects.

Once the investors finance 80% of the requested credit, the client will be able to dispose of their money.
Once in possession of the cash, the client must make the corresponding payment on the 1st of each month

Advantages of requesting a loan from Community

Advantages of requesting a loan from Community

We have already seen how Community works. Is it the best option for a personal loan in your situation? Only you can answer that question, but what has become clear are the advantages of requesting it by this means.

The interest rate is similar to that which could be obtained through a bank, however the process is more agile and faster. This does not mean that the risk analysis is more lax, on the contrary. It should not be forgotten that Community is also made up of investors who from the other side finance the loans and who must also respond to them.

On the other hand, applying for a loan in Community does not entail notary fees, and in case of payment problems, you can always negotiate a new payment schedule adapted to the new situation. With all this in mind, Community can be a good way out for both those who need money and those who want to give theirs a good return. If yours is one of these cases, visit Community and find out more in depth.