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Glossary of Credit Redemption

ACCESSION TO THE PROPERTY

ACCESSION TO THE PROPERTY

Home ownership defined when an individual becomes a borrower following the acquisition of real estate by using the mortgage. During the entire amortization period of the home loan, the purchaser is an owner of the property, and once the outstanding credit outstanding is completed, he becomes the owner. AFIB AFIB is the French Association of Banking Intermediaries. The credit restructuring brokerage activity is part of the BIC category. AGIO These are the bank fees for the rejection of withdrawals or interest paid when you use your overdraft. AMORTIZATION This is the planning of the repayment of your credit over a fixed period. ANNUITY Periodic amount that the borrower agrees to pay to repay a credit LOAN INSURANCE It is a contract that supports the repayment of the credit in case of death, disability, etc. It guarantees the bank to be repaid in full and it guarantees the borrowers to be covered in case of unforeseen circumstances. Thanks to loan insurance, the insured’s assets are preserved. DISABILITY INSURANCE The death and disability insurance guarantees that the loan will be taken over by an insured borrower in the event of disability or death. NOTICE TO THIRD PARTY It is a procedure similar to the seizure that allows the Public Treasury to apprehend immediately all or part of the sums due to it, for taxes, penalties and ancillary costs whose recovery is guaranteed by the Treasury privilege. Thus, if you have not paid your taxes, the Treasury can issue a notice to third party on your bank accounts.

BALANCE BANKING

BALANCE BANKING

The bank balance is a method used by banks and financial institutions to determine the profile of the borrower. The result of a bank balance makes it possible to define whether the debtor will be eligible or not to accept his file with the lender. A negative balance means that the borrower spends more than he earns, conversely a positive balance means that the borrower’s income is sufficient to cover all of his expenses. So if the different financial ratios are eligible for the bank’s standard then the credit consolidation will bring him serenity in the management of his budget thanks to the cash released with the reduction upstream of the expense of the deadlines. BALES III Adopted by the Centrum banks of the Euro zone on 12/09/2010, the Basel III agreements propose new prudential rules applicable to all banks. Banks must, of course, respect a capital ratio. BANK The bank is an institution that allows monetary transactions between different economic agents. Banks manage deposits of individuals, businesses and other institutions. Thanks to the economic markets (monetary, financial, exchange…) the deposits can be remunerated by means of interests. In addition the banks can grant loans, which means that the economic agents of by borrowing. BANK OF FRANCE In accordance with the Maastricht Treaty, its statutes were amended in 1993 to make it independent of public authorities. Today the Bank of France is working in consultation with the European Centrum Bank to implement the monetary policy decided by the ECB. BORDEREAU OF TAX SITUATION It is a document from the Public Treasury certifying the sum of the tax debt of a taxpayer.

REIMBURSEMENT CAPACITY

REIMBURSEMENT CAPACITY

We talk about repayment capacity when we want to defeat the amount a borrower can borrow. The charge is a monthly payment that increases its debt ratio. If an individual contracts a loan when he has exceeded his repayment capacity, then he runs the risk of being over-indebted. REMAINING CAPITAL The outstanding capital (CRD) is the sum remaining due by the borrower. This sum is reimbursed by monthly installments which consist of a share of interest and of capital. In the event of early redemption, the lending institution may require early redemption payments (ARIs) in accordance with the terms of the contract. BAIL Act by which a person called surety undertakes with respect to a creditor to perform the obligation of his debtor in case he does not perform it himself. The deposit can be a bank guarantee or insurance fund. CERTIFICATE OF CONFORMITY The certificate of conformity is an administrative document intended for the owner or the owner, certifying that the work carried out during the construction of their building was carried out in accordance with the stipulations stipulated in the building permit. The certificate of conformity is issued by the Mayor, the President of a delegated Public Planning Institution or by the Prefect. ASSIGNMENT ON SALARY The pay assignment is a method of deduction that allows the lender to be paid directly on the salary of the client. Thus the bank receives the settlement of the monthly payment via the employer of the borrower. This is a payment method that reduces the risk of unpaid debts to the debtor and the creditor. Financial organizations apply the pay assignment for weak profiles. For example, in the case of a redemption of credits, it will ask for the assignment for a tenant and conversely the owner will not be forced to do so. To be put in place, the client must go to court with his or her prior credit consolidation offer, income documents and proof of address. As soon as the bank is informed of the proper implementation of the transfer, the funds can be released. DEPOSIT ACCOUNT Account opened by an individual for the daily management of his money. Payment methods (credit card, checkbook, debits) can be linked to this account. It is also used to house incoming flows (third party payments). AERAS CONVENTION Since the 06/01/2007 the AERAS convention aims to find solutions adapted to the largest number of people with a health problem in order to access Clarissa Harlowement on credit. SAVINGS ACCOUNT The savings account allows individuals to capitalize without any special conditions. It is therefore characterized by its flexibility of use. Indeed, economic agents can open multiple savings accounts (no limit in number). In addition the savings account is not capped and there is no obligation to pay. However, the interest paid is subject to social security contributions (15.5% in 2013) and income taxation. COST OF CREDIT This is the overall cost borne by the borrower. It includes the amount of interest over the entire term of the loan, but also all ancillary costs such as fees, brokerage fees if a broker is solicited, or the cost of insurance or mortgage fees if it’s about mortgage credit… CRD/KRD (Capital/Kapital remaining due) This is the remaining balance owing on the amount of the original loan on a given date. This amount is necessary to be able to settle the creditors in case of repurchase of loans. DEBT Right to demand a sum of money. CREDIT AMORRESSIBLE The amortizable loan is a Clarissa Harlowement which is amortized as the name suggests. Spread by a depreciation plan, expressed through a schedule, it has a start date and an end date according to specific and general conditions defined in the credit offer. Its operation is the opposite of the revolving credit which is reconstituted as and when repayments. RENEWABLE CREDIT It is a type of consumer credit granted by banks or financial institutions that distribute it via major retailers or online on the web, but also in an agency. Monthly payments may vary depending on usage. Ausi known as the reserve of money, it is a revolving rate credit with an interest rate that can be around 20%. Uncontrolled use of this type of borrowing can lead to excessive debt and lead to over-indebtedness.

DEATH FROM THE TERM

DEATH FROM THE TERM

Forfeiture of the term applies when a debtor does not honor or more correctly his claim through the dates of the monthly installments to be paid. The lender expressly requests the full repayment of the remaining principal due to the borrower. The bank has no interest in asking for the forfeiture of the term, it prefers that his client honors the good repayment of his loan in order to cash his margin in full (the interest of borrowing), it pronounces the forfeiture of the term when his client is no longer facing his repayments to anticipate the end of the credit agreement. In case of redemption of credits if the forfeiture of the term has been pronounced on one of the loans taken over then the file will be refused as this leaves running a risk of doubtful client. OVERDRAFT The overdraft authorized is the debit amount of the bank account that the bank authorizes to its client, usually it is about a salary. It makes it possible to obtain a working capital for the difficult months. OVERDRAFT Debiting situation. A bank overdraft is a debit balance vis-à-vis the bank. The overdraft consists of making a purchase without having the funds in the immediate future. DISCOVERED NOT AUTHORIZED The term unauthorized overdraft is used when a bank account is debiting beyond its authorized limit. the customer must as soon as possible restore his financial situation to remit the balance of his credit account. TIME OF REFLECTION This is the time that the customer has to think about the proposal that has been made by the bank or financial institution via the credit offer issued. Depending on the type of operation, the duration of the reflection period varies. For the real estate type credit, the cooling off period is 10 days from receipt of the acceptance slip. For consumer credit, the customer has a period of 14 days from the acceptance of the offer of credit. DELEGATION OF INSURANCE Principle to cover the customers with the guarantees requested by the bank, via an insurer external to the bank. disinflation Lower interest rate. The decline in inflation is leading to lower interest rates. The slowdown in price increases, or disinflation, should not be confused with deflation, which is not desirable. DEBT Amount of money a debtor must pay to his creditor. DELAYED Period preceding the beginning of the repayment of the capital of a loan, only the interest being due. If the deferral is the total loan term, it is a credit in fine.

DEADLINE Term.

DEADLINE Term.

Future date, fixed by contract, for the repayment of a loan. Amount of periodic repayment of a loan. BORROWING When a bank or financial institution is solicited by a natural person or a legal entity to obtain cash, the person borrows from the bank, so it is a debt that must repay the borrower to his creditor. Also known under the name of credit, it must be repaid in full. To avoid the risk of over-indebtedness, the debtor must always check his repayment capacity before committing himself. CREDIT ENCOURAGES Outstanding credit is the amount remaining due to the borrower to repay on a set date. EURIBOR Rate offered on the interbank market in euros, from one to twelve months, Frenchized under the name of TIBEUR or European interbank rate. There are twelve EURIBOR staggered from one to twelve months. The three-month EURIBOR is the Centrum reference for the market and serves as a support for a large number of operations and indexations. The calculation is done daily at 11 am on the basis of indications provided by a panel of fifty-seven banks and particularly active on the interbank market of the euro. It corresponds to an arithmetical average of the rates communicated after elimination of extremes. DEBT Indebtedness is the value of what is owed by a particular borrower. Indebtedness of individuals can lead to difficult financial situations for households, in other words situations of over-indebtedness.

GUARANTEE

GUARANTEE

The guarantee serves to minimize the risk of unpaid debts that may come from the loan. For example, it can be in the form of a payday assignment or a mortgage or a joint and several guarantee. MORTGAGE GUARANTEE This is an additional guarantee that asks when it considers that it is necessary to control more the risk of unpaid bills. In repurchase of credit the mortgage registration applies for the Clarissa Harlowements whose amount of the operation is high. The property is mortgaged up to the amount of. Only people who own one or more properties can claim a guaranteed credit surrender.

REIMBURSEMENT ALLOWANCES

REIMBURSEMENT ALLOWANCES

Upon early repayment of a loan, the lending institution may require the borrower, in addition to the outstanding capital, an additional sum to compensate the borrower for not having collected all the interest on the money lent. INDIVISION Ownership of several persons other than husband and wife (except married couple under the separation of property regime). INSOLVENCY We are talking about insolvency when a person no longer has the ability to pay his debts. Its purchasing power no longer allows it to make purchases, it becomes insolvent. INTERMEDIARY IN BANK OPERATION (BIO) It is sort of the transmission belt between the customer who needs a bank that can grant it. His role is to defend the interests of the client. Mandated by several banking organizations specializing in the redemption of credit, he submits your file to negotiate the best offer of credit consolidation of the moment. ALIENER OR HYPOTHEQUER PROHIBITION It is the prohibition to alienate or mortgage real estate during a donation. The donor prohibits the donee from being able to give the property as collateral. For a mortgage surrender if the sellout prohibition is in existence, then the applicant will not be able to finalize the transaction without the authorization of the donor (s). BANKING PROHIBITION When the customer of a bank or a financial institution does not fulfill any more of its debts, these can alert the Bank of France of the bad behavior of the debtor to register it in the file of the bad payers of the banking incidents and credits. Thus, the latter can no longer use the credit service and some payment services until the file is removed. BORROWING INTERESTS This is the cost of money borrowed from a banking institution. This is the remuneration and it is expressed as a percentage. The borrower repays a monthly payment consisting of a share of capital and a share of interest.

EXCESSIVE PLAYERS

EXCESSIVE PLAYERS

Banks define as excessive gamblers any person having a gambling addiction. This can result in a massive indebtedness of the individual if he spends all his money playing games but does not pay his credits.

 

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