Common loan: what to watch out for?

You do not always take out a loan yourself. This particularly applies to people in marital relationships, but very often also in partnerships. At the same time, many financial companies also now offer financial products in the form of loans that can be taken by parents and their adult children or by siblings.

Borrowing joint loans, however, involves a certain risk, which is similar to the one of mortgage lenders.

Taking out a joint loan most often allows you to obtain much more favorable financial conditions. This is due to the fact that two or more people have a significantly higher creditworthiness as well as significantly higher incomes. The lower the risk for a loan company, the better it is to borrow money. More favorable terms of borrowing refer to borrowing costs. Lower interest rates, lower additional costs as commissions allow for limiting monthly installments, which will be repaid regularly when the loan is repaid during the term of the contract.

Offers for joint loans are increasingly popular

Offers for joint loans are increasingly popular

Financial companies wanting to increase the base of clients who can take advantage of loans are more and more willing to present offers that allow you to borrow money together. Initially, these were offers targeted at even siblings, parents and adult children.

Such financial products mainly concerned mortgage loans, whose installments are high and the repayment period is very long. Acquiring such a loan required, above all, a high income as well as excellent creditworthiness. However, nowadays loans can be found more and more often, which may even be taken by non-relatives.

Greater responsibility

When borrowing a loan jointly, one must take into account that the liability for loan repayment spreads evenly among the borrowers. At the same time, common loans are often made to one person who will repay the loan . Very often parents and adult children decided on such solutions when obtaining mortgage loans.

It should be taken into account that if the loan is not repaid by one person, the financial company will start to demand repayment from other persons who have jointly joined the loan agreement. This also applies to situations in which the main borrower and co-borrowers are entered on the loan agreement.

Confidence to the co-borrower

When you borrow together, it is necessary to have trust in other people with whom such a loan is taken. It should be taken into account that even the marriages that decide to divorce during the repayment of long-term loans meet with difficulties in joint financial commitments in the form of loans or credits. It is worth considering taking out a joint loan, especially with people who are not related.

If such a loan is only used to support the main borrower in order to increase the creditworthiness, it is worth choosing additional collateral as a pledge.


Quick money loan without proof of salary

Online loan approval in minutes

Online loan approval in minutes

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  • Amortization of payments over 10 years (120 months)
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As a new client, you can apply for a personal loan through this page. Our online services are open 24 hours a day, 7 days a week. In addition, your request will only require a few minutes of your time and the response time is unbeatable.

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Online services between $ 20,000 and $ 25,000

Online services between $ 20,000 and $ 25,000

Online loan

If you are human, leave this field blank. Choose an amount * $ 20,000 $ 22,500 $ 25,000 Amortization period * 3 years Four years 5 years 6 years 7 years 8 years 9 years 10 years Frequency of payment * Every week In two weeks Once a month What is your financial situation * salaried Self-employed worker CSST Welfare Unemployed Without income Other Explain in detail why you need a loan of money.

Our loans are 98% approved

Our loans are 98% approved

If your loan application without a credit check is approved, you electronically sign your loan agreement online. We then transfer your funds directly into your account. The minimum loan amount you can claim on this page is $ 20,000 and the maximum loan amount is $ 25,000. To request an amount over $ 20,000, you can still apply online in minutes and one of our advisors will call you back to discuss your request.

Criteria for approval

  • Be 18 years old.
  • Have a bank account.
  • Have an income of more than $ 550 a month.
  • The account from which you wish to repay your loan must be a permanent account.
  • To be a Canadian citizen.
  • Have 2 pieces of ID with photo.

Loan of money for unemployed people in Quebec

If you have bad credit or are unemployed, we can make a quick loan today!

There are times in life when we need a little help to pay our debts. The banks and the majority of private money lenders do some checking on your credit report, which does not benefit you much. We offer personal loans without investigation and income proof 7 days a week! Let us take care of your debts, we offer easy and simple deleveraging solutions. Do not worry, we are here to help you.

Our quick money solution

quick money

If you have no income, social assistance, CSST, etc. Our money loan solution for unemployed people is for you. Get quickly, a loan without investigation and verification, get in less than 24h between $ 500 and $ 5000 in cash, deposited in your account by bank transfer.

Henry offers money lending solutions for people without income and looking for quick additional financial help.

Our Financial Solutions

  • Cash advance
  • Quick money loan
  • Redo his credit
  • Ready for bad credits
  • Debt consolidation
  • Loan without a credit check

Whether you are without income by choice or not, or without work, you can still apply and reap the benefits we offer.
There are some prerequisites that you will need to meet to qualify for this fast money loan. You will need to confirm that you are a Canadian citizen. You must be 18 years old and have a valid bank account.

How to ask for quick money

 How to ask for quick money

It is easy to apply for our personal loan services. All you need to do is fill out a short application form with the necessary details and submit it. Our online loan application is absolutely free and does not pose any obligation to the applicants.

What are the Rules for Granting the First Loan for Free?

With calmness, you browse through various websites, and on them successively appear information about free cash loans. Of course, you do not have to wait too long for your response. Usually, you quickly close such an advertisement with quite a bit of irritation, as they can show such things to people. The only problem is that this type of advertising, which is more and more often appearing lately, is indeed real. A summay is on

Loan for free – false or myth?

Loan for free - false or myth?

Do you now look at what you are reading with slight disbelief? A product like a free loan does exist! Just do not imagine too much again. Because it does not mean that you get money and you do not have to give it away at all. None of these things. A free internet loan is that you borrow and give exactly the same amount. No interest charged!

This proposal also seems tempting. But are there any hooks? Hooks are gone, but there are conditions that must be met absolutely. First of all, you must be a customer who uses the company’s payday for the first time. Regular customers, unfortunately, can not count on these types of promotions. Another condition to be fulfilled in order not to pay interest is the payment of receivables within the prescribed period, which is usually 30 days.

People who are late at least one day with the payment of a payday, unfortunately will have to bear the consequences in the form of considerable interest.

Who is the free loan for?

Who is the free loan for?

In exchanging these people, we omit all those who do not meet the first basic condition, that is, the regular clients of the institution offering this type of promotional solutions. However, all those who have had the intention to take out a short-term loan are willing to use free-of-charge tickets. Here with the additional opportunity to save quite an attractive amount of money.

Investors who want to multiply borrowed capital also hunt for free loans. Of course, they only have 30 days for it. That is why there is a certain risk that the intended investment will fail and you will have to cover the payment from your own pocket. Free-of-charge loans are also willingly used by entrepreneurs who need liquidity. They know very well that their contractor will pay a valid invoice within a month. And during this time, they can take advantage of a free loan. As it turns out, you can draw a lot more from each promotion than it just shows in advertising.

You Have Debts? Check How You Can Overcome Them! – Debt Consolidation

The rush of life, the availability of goods and services and the requirements of the modern world make it easy to stray from a safe road and fall into a financial hole from which it is sometimes difficult to get out. In extreme cases, consumer bankruptcy is announced. The data about the growing scale of this phenomenon are: since 2015, courts have issued more than twenty times more decisions on consumer bankruptcy than in previous years (data published by the Central Economic Information Research Center)! has more notes

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However, the announcement of consumer bankruptcy is not a simple solution. What is more, it involves additional costs (including a contribution to the remuneration for the trustee) and an estate of the indebted person. This is not always beneficial to the debtor. Is there another way to get out of the financial hole?

By far the best (and often the only) option is to pay all debts. Sometimes it seems unrealistic – there are a lot of debts, interest is increasing, the creditors do not stop calling. All it takes is a bit of self-denial, internal discipline and a good plan. Below, we suggest how to go about it.

1. Do not deepen your debt 

1. Do not deepen your debt 

In order to get out of the financial collapse, one should first stick to the basic principle: no new debts. It is impossible to get out of debt when we still add more to the debt pool.

2. Set the total amount due

2. Set the total amount due

It may be hard to believe, but very often we do not know exactly how much our debt is. We do not remember when and with whom we signed loan or loan agreements, especially if we often used this form of financial support. We have no idea whether the liabilities were included with the insurance contract, what is the amount of interest, etc. To effectively get rid of debts, collect all current agreements on loans and loans, arrange them in chronological order (from the earliest taken to the latter) and determine the exact amount of the debt.

Record the most important data from each of the collected documents:
– the name of the creditor, the number of the contract and the date of its signature
– type of contract (eg mortgage, cash loan)
– the total amount of the loan / loan
– installment amount and payment dates (repayment schedule)
– information whether the obligation is covered by insurance (if yes, write down the amount)
– what is the delay in repayment (if you are losing it)

After writing out the data from all documents, calculate the total monthly installments, then compare it to the amount of income you receive.

3. Think about a consolidation loan

3. Think about a consolidation loan

If you can not deal with the repayment of individual loans or loans, consider taking a consolidation loan. What will you gain by deciding on this form of credit?

– you pay one installment per month – lower than the sum of installments from individual liabilities
– you pay interest accrued only on one consolidated loan
– if individual liabilities are insured, you can get a refund of the insurance you have not used. The money obtained in this way can be used to repay the consolidation loan
– it’s easier to pay off your debt because you can not miss a small loan. One loan is one repayment, instead of several or several dozen others

4. Make negotiations with your creditors 

4. Make negotiations with your creditors 

If for some reason you can not take out a consolidation loan (eg you do not have sufficient creditworthiness), and at the same time you are unable to pay your loans or if your debts were taken over by a bailiff, try to negotiate with your creditors.

The situation is particularly urgent if your debt goes to the bailiff. It must be remembered that court costs are high, and the bailiff does not work for free. It often happens that the money taken from the account by the bailiff is enough to cover the enforcement costs, and therefore does not reduce our proper debt at all. The situation becomes stalemate, because despite the decrease in revenues by the amount taken by the bailiff, the entire debt is in place. At that moment, you should apply to the creditor as soon as possible with a proposal to reach a settlement.

How to go about it?

Find the creditor’s name and correspondence details in the credit documentation prepared earlier. Prepare an application for a settlement regarding the restructuring of your liability. Depending on the situation, you can apply for:

– suspension of repayment for a specified period of time, e.g. for several months
– reducing the amount of installments (keep in mind that this will extend the total time needed to pay off all your debt)
– redemption of part of the debt (it is most often used when the bailiff’s execution does not bring the expected results and only small amounts are transferred to the bank)
– insurance refund (will reduce the amount of debt, but in its place the bank often demands another form of security, eg a guarantor)

Write a justification in which you will present all the arguments that may affect the positive consideration of your application. Refer to specific situations and support them with appropriate evidence, eg if you have lost your job, attach a Labor Office certificate to your application if you have reduced your salary, attach a current income certificate, if you have a sick child, add a hospital treatment card, medicine bills etc. if the debt is delayed by the death of a loved one, attach a copy of the death certificate, if a fortuitous accident, attach a relevant letter from the insurer. Prepare the application prepared in this way and send it to the addressee by registered mail.

5. Act multi-way

5. Act multi-way

Do not wait for the creditor’s decision to restructure your debt. Work!

At the beginning, find a guarantor – a trustworthy person who has the creditworthiness and if necessary will be able to guarantee your liability (eg if you do not have sufficient creditworthiness to take out a consolidation loan). For your safety, you can sign a civil law contract under which you commit to repay the loan, so that the person who guarantees the loan does not have to do it for you.

Find additional sources of income – sometimes even working on a full-time basis, we can make time for an additional order. Look for tasks that you are able to do, systematically browse job advertisements posted on the internet – you will surely find something for yourself! In some situations, it is also a good idea to work abroad, especially if we already have someone there who will help us to take our first steps in exile.

Create your own home budget – note profits and expenses. Check what you spend the most money on and see if you can not limit some of the costs. An efficient home budget management will help you get out of debt and protect you from falling into another financial trouble.

Save money – do not spend on things that are not really necessary. Remember that every small amount brings you closer to getting out of debt and achieving financial stability.