The financial difficulties of Portuguese families and the restriction in the availability of credit by financial institutions have led to the increase of opportunists and online scams, especially with online credit applications. In reality, more and more offers and solutions of personal credit that sit easy, appealing and simple appear that there are only advantages and no inconveniences.
Before deciding on a credit proposal we suggest that you always take into account:
Do not Pay Evaluation Fees
There are many non-financial companies (consultants) that charge an advanced amount to make simulations and pre-approvals of credit applications. In fact, only financial institutions are credible to demand such payments (not that we agree with them) and only banks can approve or disapprove credit applications (even pre-approvals). Do not make down payments. The more likely you will be to never see your money back and not having the credit you need.
Name in the Black List of DP Bank
If you have the name on the blacklist of DP Bank you will not be able to access credit, even if there is some company that promises to do so. The financial institutions do not give credit to those who have the name on the black list of the Bank of Portugal so it is essential to clear their name so we suggest you read how to get off the blacklist of the bank of Portugal.
Evaluate Institution Credibility
You should never compromise with people and institutions that may cause you some discomfort or mistrust. It should seek to assess the credibility of the institution which is increasingly easier in these days. Search on the Internet. Look at the reviews and look for complaints on the various portals. Look for information from friends and visit the DP Bank website. Do not be fooled. When signing the contract with the consultant, be careful and read the contract carefully. If the address of the consultant is a section… probably will be mocked.
Search for Various Alternatives
In our market economy, there is always some room for negotiation because despite all this competition between institutions still exists. If you are a good customer, you have room to negotiate commissions and fees. However, do not forget that easier credit may have associated higher fees and commissions.
Seek Credible Counseling
In any case, we always suggest that you seek counseling with which you most perceive these matters. If in health matters you visit a doctor, in financial matters you can seek the help of an independent consultant who will only have a remuneration in case of financing. The interests are perfectly aligned.
We have left some alerts that will surely prevent you from having a bad experience with your online credit application. We always suggest that you try to analyze different proposals in order to obtain the cheapest and most adequate personal credit for your specific case.