Why is it not worth taking a loan on Black Friday?

What is Black Friday?

What is Black Friday?

Black Friday is an annual holiday of discounts, promotions and discounts. Discounts can sometimes reach as much as 80% or more. There is also an increase in consumer activity on this day. In 2017, this increase amounted to as much as 624% in relation to average consumer habits. This custom originated in the United States, but in the era of globalization quickly spread to other continents. Today, more and more companies are offering the biggest discounts of the year on this day. It falls every year the following Friday after American Thanksgiving and is considered the start of the Christmas shopping season. In 2018 it falls on November 23.

This is an extremely interesting holiday. Many holidays such as Valentine’s Day or Halloween also encourage spending, although they do so in a slightly more subtle way. Black Friday does not hide that it is even a caricaturedly consumer holiday. This is not an opportunity to feast together with loved ones, but to get the best opportunities and prepare for the exchange of gifts on the occasion of Christmas.

Be careful with promotions

Be careful with promotions

Especially in the current state of the world economy, it is increasingly difficult to maintain a stable income of money at home. Achieving high income and maintaining it at a high level has become much more demanding than it was a few decades ago. This means that many families can not afford to fill the space under the Christmas tree with boxes with nice bows. For some, just preparing a hearty Christmas dinner can be a financial challenge. However, we are almost programmed to buy as much as possible during this period. The more difficult it is to come to our senses when all stores offer us promotions that only once a year are so encouraging.

It is important not to be carried away by shopping madness caused by discounts. We are tempted by the low prices of flat-screen TVs and elegant shoes, but you have to remember that although it may be smaller than usual, it is still an expense. We should seriously think about whether we can afford such a purchase.

At present, it is very easy to apply to one of thousands of banking institutions for a personal loan in order to make Christmas purchases. Shopping frenzy on the occasion of Black Friday can do a lot of damage to your home budget, if we spend money that we will have to return in even more than we borrowed. If we do not have cash during this period, the spending of which on pleasure would not harm our budget, then do not decide to shop.

Experts advise you not to be fooled by quick loans especially during the pre-Christmas shopping craze. This is a very easy way to fall into a spiral of debt, from which it can be extremely difficult to get out. Although many people pay their debts on time, experts almost unanimously advise against applying for a loan. The most popular and reasonable rule is simply to see if we have that amount in our current account. Even if we have the right amount of money there, but we know that we expect bills to be paid, we should also refuse purchases.

Debt for the holidays

Debt for the holidays

Holidays are a special time for many people. The end of the year is approaching, the moment of summary and reflection is coming. It is especially important for our psyche and persistence in decisions that we do not deepen the holes in which we can be. Despite the encouraging posters from everywhere, which are screaming about big discounts, one has to consider whether entering into further debts is what we really want. I think we all want to enter the new year with the cleanest and most favorable bank account balance and the least amount of debts and liabilities.

Let’s also remember that the main goal of Christmas is not to throw your loved ones as many presents as possible, despite the fact that often department store ads show us this picture. We will not be able to buy the most valuable items for the holidays, no matter what discount we would not find or what loan we would not take. Probably everyone much more than a glowing watch or a new console will appreciate the opportunity to see their loved ones, share a meal and have a pleasant conversation.

We are currently in debt at an increasingly alarming rate. For many people, drowning in debt has almost become the norm. Let it not be our natural state of affairs.

Good debts and bad debts

Good debts and bad debts

“Debt” has become a very negative term, although it may not always be associated with negative things. Of course, if we spend money that we do not have on items that we do not need, then there are few cases where it will be considered good. However, some financiers argue that debt in itself may not necessarily be bad. Some of our financial commitments are almost a necessity and should not be seen as something 100% bad.

Such a “positive” debt can be, for example, business or housing credit. Taking such a loan often means that we have an adult approach to life and are ready to make new commitments, both mentally and financially. Another example of good debt can be a student loan that we finance your education or other type of professional development.

Incurring debts that we can’t pay is always irresponsible and unreasonable. Such consumer behavior has led to economic crises in the past. All the more so if these debts are incurred for whims and whims.

Many banking institutions offer “quick and convenient” loans that can be taken online. At a time when borrowing money has become so easy, we should beware of it all the more. It is becoming increasingly common for companies to create loans specifically dedicated to the Black Friday occasion. Some of them even allow you to take advantage of further promotions in given stores.

Increasing credit card debt is also incredibly easy. That doesn’t mean it’s a good idea. The most important thing is to take a sober look at our financial situation and think about whether we can afford the purchase.

Let’s be responsible


Black Friday is a really good opportunity to save money on shopping. The most important, however, is not to exceed the limits we impose. If we do not have enough cash, and it could be problematic to return a loan taken for the occasion, let’s be modest and save ourselves worries. Remembering that Black Friday takes place every year, we can prepare for the next one. All you need to do is set aside some money in advance (here are some tips) and prepare a list of things you would like to buy to survive Black Friday without compromising your home budget.

Problems that may arise as a result of ill-considered loans can also negatively affect our creditworthiness or even block our credit card. If our debts still have arrears 180 days after the repayment deadline, the bank assumes in advance that they will not be repaid. Our account will be closed and the bank will sell the debt to a debt collection and enforcement company. It is possible that our phones will be flooded with a wave of calls from this company that can be annoying. Although there are restrictions when it comes to harassing the debtor, the debt remains legally valid and must be repaid. By delaying long enough, we may be sued.

It also means a significant reduction in our credit standing. In this situation, we will no longer be able to take out a loan in the event of an emergency. The consequences of ill-considered Christmas shopping may be greater than we expect. So always remember to have your finances carefully and responsibly.

About Bonds – Loans Finance and Money

A bond (of Latin obligare: oblige) is a promissory note.

Most often, the term bond is used for one of the more homogeneous debts. Bonds are often negotiable instruments, namely that the borrower has no influence on what the lenders are that bonds can be traded and who are the owner of a bond at any time, have a right to, described in the bond’s circumstances.

The name of a group of bonds with identical terms


It is a condition that conditions can be listed, that they are freely transferable.
In Norway, Norges Bank issues government bonds.

A bond series is usually the name of a group of bonds with identical terms and, if listed, they have a unique code. But with the help of the mortgage banks also known as bond series for a collection of bonds, where some, but not all, conditions are identical, and subdivides a bond series into branches and interest rates, where the series can hold more fund codes.

This term is also sometimes used for bonds

This term is also sometimes used for bonds

Bonds convertible into equities, known as convertible bonds. This term is also sometimes used for bonds, where the problem before ordinary bonds has the opportunity to meet them face to face, but to distinguish between these two forms are many, therefore the latter are convertible bonds.

Bonds are loans characterized by their most important (coupon) rate and repayment profile.

Bonds also divided by the nature of the problem:
Government bonds issued by sovereign states
Mortgage bonds issued by mortgages
Corporate bonds issued by companies and other companies

Bonds are split according to security


In addition, bonds are split according to security:
Bonds, as a priority according to the other unsecured claims, known as subordinate, junior or responsible
Bonds, which are equal in priority to other unsecured claims, called non-subordinated or higher.

Debt forgiveness for socially disadvantaged citizens

It is in the government’s interest to reach an agreement with the principal creditors

The state cannot write off citizens’ debts to creditors (eg banks, tele-operators, utilities, etc.), creditors can do it themselves.

Considering that in the last few years the debt of the citizens towards the mentioned creditors has doubled and came closer to the amount of HRK 30 billion, it is necessary to adopt a legal solution to help the citizens.

What does the agreement bring to creditors?


The biggest problem is the fact that the stated debts of citizens in the financial books of creditors (listed companies and banks) are recorded as their income.

The Government, by virtue of the Income Tax Regulations, makes available to the executors a reduced base for taxation by the amount of debt written off.


In order to qualify for a debt relief as a tax deduction, the bank must prove that it has taken absolutely all legal steps to collect the debt.

By simplifying state tax regulations, banks would reduce legal costs.

In addition to tax breaks, the main incentive for the debtor to meet debtors is the fact that this is a category of socially most vulnerable citizens (eg, they have lost their jobs, have no roof, are ill, etc.), of which the executors will not be able to be paid anyway.

Penalty for bailiffs who oppose the agreement


Finance Minister Boris Lalovac has therefore decided to reward creditors who agree to write off debts to the socially most vulnerable tax deductible expense.

Creditors who do not agree to debt forgiveness have been threatened with a legal moratorium on foreclosure.

For example, during the moratorium no further activities (collection, foreclosure, interest on arrears, sale of real estate, evictions, etc.) could be carried out against these citizens.

Given that the negotiations have been going on for a year now, the question is why did the Government not introduce a legal moratorium on foreclosure until the end of the negotiations? Namely, all year round, citizens are charged default interest, charged court costs, enforced foreclosures, etc.

Skeptical creditors


Putting the social component aside, the key question is how the Government will motivate private companies to forgive millions of kunas. Namely, it is about profiteers, not volunteer companies.

An overview of the share of citizens’ debts to leading creditors in June 2014, when the total debt of citizens amounted to almost HRK 28 billion:

Tele-operators are still considering the Government’s proposal for an agreement. More specifically, the main ambiguity is the limit of the amount of debt forgiveness which amounts to HRK 10,000.00.

Specifically, citizens’ debts of up to HRK 10,000.00 to banks represent smaller debts in their total debt, and mostly include debts on credit cards and current accounts.

On the other hand, the amount of debt up to HRK 10,000.00 in the case of tele-operators covers a large part of the total debt of citizens towards them, namely HRK 141 million and 55,000 citizens.

Do I need a girrant taking a loan in the UK?

Many of us think about taking a loan in the UK. Sometimes these are small amounts for everyday expenses, sometimes much larger. We often think about taking a mortgage. Do we need a giraff when taking a loan in the UK? Or maybe someone asks us to guarantee a loan? mercador24.com has more details

Probably each of us met a situation where we immediately needed some amount of money. We usually borrow small amounts, we use overdraft or credit card. At other times, we are planning a purchase and we do not intend to save a few months or years. It’s hard to put down for example for a new car, because we would have to wait quite a long time for its purchase. If you take a loan, we have the money to buy it right away.

Of course, the cost should be added to the price of the loan. If we do it wisely, nothing bad. However, sometimes we face a kind of necessity. If we are tired of renting an apartment and want to settle permanently in the UK, we must buy it. In this case, however, saving is probably not an option. Usually we would have to do it for at least a dozen years or more than twenty. And so few people want to wait. During this time, we still have to pay for rent, because we have to live somewhere. The installment amount is comparable to the rental price, except that we invest in our property. In the case of renting, we lose money irretrievably. Then the solution seems to be to take out a mortgage. However, in each of these cases the question arises. Do I need a giraff when taking a loan in the UK?

A resident increases our creditworthiness

A resident increases our creditworthiness

The answer is not clear. It all depends on the individual case. Several factors affect this. First of all, the amount we want to borrow. The smaller the number of requirements the bank will have. However, the basis is our history and creditworthiness. If we don’t have it, we won’t borrow anything. For smaller amounts, you generally do not need a giraff. The bank will check our creditworthiness and make a decision based on this. However, if it is poor, we will meet with a negative decision. Then we can go to one of the non-bank companies offering loans in the UK. Their characteristic feature is that they give higher interest rates, but they have much lower requirements. Usually, you can borrow smaller amounts, in the order of several hundred to several thousand pounds. And for shorter than longer.

A resident will increase your chances of getting a mortgage

A resident will increase your chances of getting a mortgage

So generally in banks, the answer to the question of whether I need a girrant is simple. No, if you have sufficient creditworthiness. If you are poor, this may unfortunately be necessary. A resident can effectively increase it. There are various reasons why you may not get a mortgage. First of all, the bank may not like that you have spent all your life as much money as you had. This is a very reasonable life strategy, but from the perspective of financial institutions, you are someone unproven.

The bank much more rewards people who have already borrowed and paid their debts on time. Sometimes you don’t have to do much to have a credit history. All you have to do is take a credit card which, if paid off monthly, does not incur any costs. Needless to say, if in the past you had a problem repaying a loan, it may also cross your chances. The reason can also be too short a stay in the UK, too much money you want to borrow, or the wrong type of employment. In this situation, you can either wait some time and work on your credit score, or find the so-called mortgage guarantor. In other words, a giraffe.

Who is the mortgage guarantor?

Who is the mortgage guarantor?

Mortgage Guarantor is a person who must have full confidence in you, because he risks a lot. It usually doesn’t matter what kind of relationship you have with this person. It does not have to be a member of your family, unless the bank reserves otherwise. However, it must meet certain conditions. First, he must have a sufficiently high income. It is obvious. We will not write how big, because it depends on the individual case and the bank’s requirements. Secondly, it must have its own real estate, a car, which is something that the bank could take to repay if you did not. And of course he should also have high creditworthiness and good credit history. If you find such a person, you have a chance to get a loan for an apartment even with no own contribution. Although, of course, on worse conditions. You don’t have to worry about additional costs. Mortgage Guarantor does not increase the loan price.

Guarantor mortgage – think three times

Guarantor mortgage - think three times

However, remember to think about this step well. It is taking a huge responsibility for someone’s life. Mortgage Guarantor risks a lot. If you run into financial trouble, the bank will have no qualms. It may even take his house and your resident will land on the pavement. Things are different with smaller amounts. When buying a flat, however, we are talking about money for which most of us work half a life. It is therefore worth considering whether there really is no other option? Maybe you can borrow from someone for your own contribution? This is a much better option for this person than being a resident. In the worst case, he will lose the deposit amount. If he devours a loan from you, the bank will take him ten times as much. Maybe it is worth stopping with the loan? You can always wait a little bit. After some time your credit standing will increase. Especially if you work on it. There are many ways to improve it. You can always wait for a raise or find a better job.

You better rely on yourself

You better rely on yourself

As you can see, sometimes a resident can improve our situation. Sometimes it is even necessary to take a loan, especially high. However, it is worth considering other options. I guess no one wants to have their conscience taken away from saving their life or even home. Therefore, we do not encourage you to use the trust of your loved ones. Whether friends or family or even further friends. Well, unless the potential resident is a multimillionaire and he will not feel much repayment of our loan in the event of an accident. However, if you need a smaller sum and you have a certain prospect of paying it back, use a loan in the UK. You won’t need any resident.

Debt consolidation mortgage lending – yes, you can break free of debt

Debt consolidation mortgages can be a great way to help you clear your debt quickly and efficiently. First of all, if you find yourself in the situation of having more debt to pay, don’t despair.

The average millionaire has gone bankrupt at least once in their lifetime, and sometimes several times. Therefore, you are actually in some pretty good company. Don’t look up to the past; just learn from it and move on.

Debt consolidation mortgage loan

Debt consolidation mortgage loan

If you have a number of loans and debt servicing, a debt consolidation mortgage loan is what you should ideally be looking at. Debt consolidation as a financial product is easy and effective to implement. When you take out a loan, you have to service it through repayment of principal and payment of interest.

The higher the interest cost, the higher the burden on you. This is where debt consolidation mortgages can come to your financial rescue and reduce your service costs. Interested? Read on. You will not be disappointed.

Homeowners who also service a number of loans need to take a look at these loans seriously. This is on the one hand their other loans are eating into their resources and on the other their home is not giving any return.

Debt consolidation mortgage technique

Debt consolidation mortgage technique

By using the debt consolidation mortgage technique, they can refinance their loans and create mortgages at a significantly lower interest rate. Debt consolidation is designed to help tide over the high cost loans and in the process take on low interest-bearing mortgages.

Debt consolidation also helps you plan ahead and plan well. You can refinance your existing loan payment note without collateral loans through these mortgages. If you are a tax payer then the strategy may work much better for you.

This is because interest payments are tax deductible. Thus, through debt consolidation mortgages, you not only save interest money, you also save taxes. The overall benefits of these loans can far exceed your expectations if you do your homework well.

Seek professional advice on the issue of debt consolidation. Get hold of companies that offer mortgage lending. There are plenty of them across every state in America. Choose the one that best meets your requirements. Debt consolidation mortgages can never go wrong for you if you are serious about gaining control of your finances.

Good Finance fund – do you know what it is?

A Good Finance fund is a collective term for many different types of special funds. Common to them is that they are freer rules for their investments than mutual funds, for example. They can use loans, short sales and investments in various types of derivatives to raise interest rates.

The fact that the business idea is based on the fund

The fact that the business idea is based on the fund

The name suggests that funds are based on hedging, but despite the fact that the business idea is based on the fund will always give a positive return regardless of what happens on the stock exchange, so in practice it is very possible that the fund is at a loss.

A common form of compensation is that the management fee

A common form of compensation is that the management fee

Common to Good Finance funds is that they aim for absolute returns, ie returns that are independent of how the stock market is performing. They usually have a performance fee.

A common form of compensation is that the management fee is 20% of the return that exceeds the state’s lending rate per year. Some Good Finance funds use so-called watermarks, which means that the fund, after falling, does not charge a performance fee until the value returns above its previous value.

Good Finance funds is that these are high risk


A traditional and 1990s common view of Good Finance funds is that these are high risk and should be avoided by ordinary people. 

This was a result of the LTCM (Long-Term Capital Management) Good Finance fund lost $ 4.6 billion and went bankrupt in 1998, despite the fact that Nobel laureates are part of the fund’s board. Today, 2006 is a different approach – it is both Good Finance funds that take high risk and those with a significantly lower risk than equity funds.

Credit unions in the European Union

In Europe, credit unions operate in the United Kingdom, Ireland, Poland and Lithuania. In addition to these countries, credit unions in the EU also operate in Latvia, Romania and Estonia, however, the laws of these countries do not provide for a specific act regulating their business, but operate in accordance with other laws governing the business of credit and financial institutions.

The work of credit unions is supervised by the Central Bank, the institution responsible for the regulation of the financial sector, the Ministry of Finance, or another statutory institution, with mandatory independent audit of business by the auditor designated by the Credit Union Assembly.

Savings Deposit Insurance

Savings Deposit Insurance

In most European countries, savings deposits in credit unions are secured in the same way and in the same amount as savings deposits with banks. In the wake of the financial crisis, most countries have raised their savings deposit limit to restore their confidence in the financial system, and so are world-wide examples of the United States (the limit is

temporarily raised from $ 100,000 to $ 250,000), Germany (limit is completely lifted and full savings guarantee is guaranteed), Australia (no insurance at all, up to AUD 1 million was introduced). In Poland, the limit has been raised twice, from € 22,500 to € 50,000 to € 100,000, as in the UK to the current level of GBP 85,000, and in the EU as a whole, from € 20,000 to € 50,000 and more recently to € 100,000.

Examples of developed markets in Europe are, first and foremost, the United Kingdom and Ireland, not only because of their importance in the market, but also because of quality legislation involving all stakeholders: credit unions, the Ministry of Finance, the regulator and the legislator. Also, in these countries, public debates aimed at amending the law have been conducted or are ongoing, or the amendments have recently entered into force after a systematic analysis of all the features relevant for the further development of credit unions.
Great Britain

The UK began reforming the legislation of the cooperatives and credit unions sector in 2007, a comprehensive survey conducted by the Ministry of Finance on over 200 individuals and organizations surveyed. The result of the initiative is the Amendments to the Credit Unions Act, which came into force on January 8, 2012.

The basic changes to the Act are as follows


  • Credit unions are allowed to extend membership to more than one group of people, no matter where they live or work. The territorial principle has been extended in such a way that the maximum number of potential members who can join the credit union under this principle must not exceed 2 million.
  • The number of so-called “non-qualifying members”, ie members who no longer satisfy one of the principles because they have changed their place of residence or place of work, is limited solely by the credit union statute, ie the rules that credit unions determine independently.
  • Membership is not limited solely to natural persons, but also to legal entities that satisfy one of the principles, with the limitation that legal entities may account for a maximum of 10% of the total membership and 25% of the total ownership shares.
  • As credit unions are regulated by the FSA, savings in credit unions are secured up to £ 85,000.
  • There is a restriction that credit unions cannot charge interest rates higher than 2% per month, or EIRs of 26.8%.

Republic of Ireland

There are more than four hundred credit unions on the market

There are more than four hundred credit unions on the market

In the Republic of Ireland with around three million and savings of over thirteen million.

In March 2012, Ireland published the final Report of the Credit Unions Commission, a body established on 31 May 2011 at the initiative of the Government of the Republic of Ireland, composed of representatives of credit unions, the Ministry of Finance, the Registry of Credit Unions and independent experts in the field of finance and law.

In its work, the Commission had the support of occasional members, ie a five-member Secretariat of the Ministry of Finance, as well as a three-member working group made up of employees of the Central Bank. The report also contained a preliminary report from the Commission of September 2011, which made recommendations in relation to regulatory requirements, defined the powers of the Irish Central Bank, as well as the rights and obligations of credit unions in relation to a deposit insurance scheme.

How To Get The Fastest Online Credit Online

Thinking of a new kitchen? Clothes in the closet can no longer be worn at home? Your friend still decided that she would get married this year? – In these situations, you are certainly asked how to raise enough money as soon as possible and how quickly to get a loan.

With the average Croatian salary not enough for basic living, there is hardly anything to save on the side. Any, even the smallest bill you didn’t plan to spend can completely squeeze your home budget. How to get the fastest loan – is a question that arises in such situations when you want to resolve things as soon as possible. It is simply better to try to remedy the financial problems as soon as possible so that they do not turn into more serious difficulties.

Getting the Loan Fastest – Good Gold Information Worth It


As soon as you see the possible costs that could seriously damage your day-to-day life, try to inform the banks and lenders about the best possible solutions. Collect several deals on both sides to see which sum, repayment plan and interest rate are best for you. Keep in mind that you will have to pay off your daily living expenses while making a loan, so before you decide on one option, make sure you can repay it.

Put your income and expenses on paper and it will be much easier to keep track of where your money is going. And when you do, it will be easier to decide which things to eliminate and which ones are worth spending the money on. This type of service is the same as online bank lending.

Banks are only partially operating online


Listening to the market, banks have introduced the so-called so-called “product” into their product range. fast loans that can be reached online. Borrowing is as easy as surfing social networks. The client chooses a fast loan and the conditions that best suit him and within 24 hours he receives an answer to his e-mail if he fulfills all the conditions for the desired loan. If all is well, documentation is sent.

However, not all banks have this option, and part of them that have moved their businesses to the internet do not have an online credit facility that can be done completely over the wire. Part of the business still requires going to the bank and waiting in lines, which is what clients do not want to spend their time on. As soon as something spends too much time, it is not the most desirable answer to the question of how fast to get credit .

How To Get The Fastest Way To Credit Through A Credit House

How To Get The Fastest Way To Credit Through A Credit House

Unlike banks, credit houses have adapted their operations to the modern age. All their services are offered exclusively online, which means that every potential customer can submit their loan application online. When entering “how fast to get a loan” in the search engine, make sure that the credit institution has a license approved by the Croatian National Bank.
Documentation to be submitted when applying for a loan is a contract that a customer removes from the credit home page, ID card, current account card, and a copy of a bank statement or payroll. A bank statement or payroll is only required for amounts greater than HRK 3,000.
Customers seeking credit through this route should be aware that the account must not be protected or blocked or subject to foreclosure. Although creditworthiness is not verified and the HROK report is not monitored, the client should have regular pay or retirement benefits and regularly settle his or her debts.