Fresh Start Loans Online Thu, 01 Oct 2020 08:21:29 +0000 en-US hourly 1 Taxation of P2P loans – compact information sheet for investors Thu, 24 Sep 2020 03:32:03 +0000 Yes! P2P loans are interest gains and, like other investments, are therefore subject to capital gains tax. This is 25 percent plus solidarity surcharge. If necessary, you also have to pay church tax. The capital gains tax is also called the flat tax.

You benefit from the tax-free allowance of USD 801, which doubles for married couples to USD 1602. So you only have to pay taxes when you have reached your personal tax exemption limit. If your personal income tax rate is below the capital gains tax, If this is applied by the principle of the favorable assessment, it replaces the capital gains tax.

That means you have to tax your earnings at your lower personal tax rate and not pay the full 25 percent capital gains tax.

Both interest payments and default interest payments are relevant for the interest income. Default interest is penalty interest that borrowers must pay if they pay their installments too late. Secondary market earnings must also be taxed.


Can I have my taxes paid automatically, as with a share account?


No, unfortunately that will not work! Neither German nor foreign P2P platforms currently offer an exemption order. Unlike your stock portfolio, for example, you have to declare and pay your interest income from P2P loans yourself at the tax office.


Where can I get a tax certificate for my P2P system?

Where can I get a tax certificate for my P2P system?

This depends on the country of origin of the P2P credit marketplace. German P2P platforms such as Good Lenders Credit, Lite Lending or Credisure Finance send you a written certificate for the tax office once a year, which you can simply enclose with your annual tax return. Most of these tax certificates are issued in the first quarter.

You have to find out or look for your interest income yourself. More on the details later in another article. In principle, the tax certificates should be easily accessible via the menu.

Where do I have to enter my P2P profits in the tax return?


Can I offset losses?

Can I offset losses?

No. Losses cannot be offset in the current legal situation. Interest that is not paid cannot be claimed as lost income against the tax office. Accordingly, they cannot be deducted as lost revenue, loss or advertising costs. The same applies to the repayment portion of the repayment. Irrecoverable private loan claims are in most cases not taxable.

Taxing P2P loans is generally not difficult. The investment, like other investments, is normally charged with the capital gains tax. You should make sure that you register your P2P income with the tax office early and at the latest when you exceed the allowance of $ 801 per year. Note that you cannot offset losses for tax purposes.

Of course, you simply cannot tax your earnings and see if you can get away with it. I would never recommend this route to you! Karma always strikes back…


You need to remember the following about P2P loans and taxes:

You need to remember the following about P2P loans and taxes:

  • Capital gains tax and a solidarity surcharge apply to interest gains from P2P loans. For some investors, church tax still applies.
  • The allowance is currently USD 801 a year.
  • If your income tax rate is lower than the capital gains tax, you pay less tax. Instead of 25 percent withholding tax, you only have to earn interest on your personal tax rate. This saves you money. The principle is called an inexpensive test.
  • You cannot count your losses. This is a tax disadvantage of P2P loans.
  • German credit marketplaces usually send you a tax certificate annually
  • Foreign credit marketplaces don’t. You have to be active yourself.
How To Get A Payday Loan With Bad Credit Sun, 20 Sep 2020 03:55:27 +0000 When the economy is bad, getting a payday loan can be the way to save a family from a financial disaster. It might be just a few hundred dollars, but it can make all the difference when a person is running out of money and they need the money right away. But, if you do not have good credit or you have bad credit, you can still get a payday loan to get the cash you need.

Do you have a bad credit?

Do you have a bad credit?

Many people with bad credit do not have the ability to get a standard short term loan because of how they have run up debt in the past. Many people end up not only getting their car repossessed, but also being made to pay back a large amount of money. So, if they do not have a great credit score, they are still not able to get a short term loan that will get them the money they need when they need it. The only option they have is to get a payday loan to help them through the rough time.

Even though many people have bad credit, there are still ways for them to get a payday loan. There are many lenders that are willing to work with people with less than perfect credit. So, if you know that you will be applying for a payday loan that requires bad credit, there are ways for you to work it.

Apply for an online application

Apply for an online application

If you cannot find a lender who accepts your type of credit, then you can just make an online application with an online company that can work with those that have bad credit. This is a better alternative than making a phone call or going to the traditional lenders.

Look for the best rates

Look for the best rates

While not all of them will have a credit check, you can usually take advantage of a lower rate with a high credit score. A lot of lenders will give you a low rate if you pay your loan off as soon as possible. After all, the more money you have in your account, the more chances that you have to pay the loan off early.

Be careful of the fees and late charges that are associated with the short term loan. While you may think that you are paying a lower rate on the loan, you could be spending a lot more on fees than you thought. You will want to make sure that you know what the total cost of the loan will be.

You will want to be sure that you know the terms of the early termination fee. You may be charged a higher fee if you choose to not pay the loan off on time. There is no need to let an early termination fee stop you from getting a payday loan for someone in need.

Find out if there are any other fees that you will have to pay

Find out if there are any other fees that you will have to pay

You should be sure that you know what all of the fees are. Some will be fee based, while others will be interest based. Find out which ones are required by the lender and which ones you can skip.

Don’t forget to include late fees with the fees that you have already paid. Some lenders may charge late fees, if you fall behind on your payments. It would be a good idea to be sure that you are not taking the risk of being charged late fees when you do not even know that you will have to pay them.

You should also find out if you can get a reduced fee if you are going to be late on your payments. A lot of lenders will give you a fee reduction if you decide to pay your loans on time. Most of the time, they will be able to lower your payment to a discount. But, you will still have to pay the full amount of the loan before the fees are reduced.

It is possible to get a payday loan without collateral. However, the credit check does increase the risk to the lender, which will cause the fees to go up. That is why you want to make sure that you put as much money as possible down on the loan if you have no collateral.

Whether you have bad credit or not, getting a payday loan is a great way to get the money you need when you need it. Just keep these tips in mind to make sure that you do not waste your time, money and effort applying for a payday loan that will not help you.

How a small loan works? – Offered by more and more banks Tue, 01 Sep 2020 04:11:56 +0000 This former niche product has long since become an important one   Become part of the banking business. Below we answer the five most important questions about small loans.

A small loan is a loan with a comparatively low loan amount. Depending on the provider, the loan amount can be as low as 50 dollars. With other providers, the small loan can be 1,000 dollars or more. The loan with the small sum is becoming increasingly popular. In the past, banks often only gave loans of $ 5,000 or more. Anyone who needed a loan with a lower loan amount looked into the tube. Or had to borrow more than he actually needed and wanted.

Small loans have broken into this breach and offer borrowers the opportunity to take out loans with small sums. This only includes the amount that is actually needed. There is no overfunding, the borrower gets the amount he wants with the small loan.


How do you get a small loan?

How do you get a small loan?

Small loans are made possible by various providers. On the one hand, there are domestic banks that also offer loans with smaller loan amounts. On the other hand, these are providers from other European countries that only offer small and mini loans.

At the banks in Germany, the credit report query is generally required to take out a small loan. For small loan providers from abroad, this is not necessary for all providers.


How does a small loan work?

How does a small loan work?

How such a loan works with a small loan amount depends on the provider. If a small loan is taken out with a provider from other European countries, it is often much easier to apply for and receive the loan. The credit request including processing is often fully digital. This means that the identification is carried out via video chat. The way to the next post office for legitimation is no longer necessary. The specialized small loan providers offer various optional services for their loans that are subject to charges. For example, the loan can be paid out within 24 hours.

With a small loan through such a provider, however, this must be repaid in one installment. A two-rate option is also possible, but this in turn costs additional money. The terms are usually very short and, depending on the provider, the loan amounts correspond to what is commonly understood as a typical mini loan.

The banks in Germany that offer small loans offer these with different loan amounts and very different terms. Such a small loan is normally repaid in several monthly installments.


Advantages and disadvantages of small loans

small loans

The big advantage of a small loan is the possibility to take out a loan with a small loan amount. This eliminates the need to raise more money than is actually needed. With some small loan providers from abroad there is another advantage: the loan is often granted unbureaucratically and with little effort.

The disadvantage of a small loan can be the cost. If such a loan is taken out with a provider from other European countries, high costs can quickly arise. Interest rates are still within limits. The optional services, such as express transfer or the 2-installment option, can then really cost money. Such a small loan should then be carefully considered, however practical the quick money is.


What do you have to watch out for with a small loan?

What do you have to watch out for with a small loan?

The important thing with such a loan is the cost. These can vary depending on the provider. A small loan comparison can help you find the right loan for yourself.

A small loan is always an option if a large loan amount is not required. But it is important to read the terms and conditions of each provider carefully before taking out such a loan.

Debt Rescheduling – When It Is Worth It For You? Sun, 02 Aug 2020 04:12:31 +0000 A few years ago, interest rates on loans were even higher. Perhaps you are now like some borrowers and have made several loans over the years, each of which you pay off at a different interest rate? If you signed variable rate contracts, interest rates have most likely risen and not fallen, which can be a huge burden on any household. Basically, it shouldn’t be.


Debt restructuring as the only alternative

Debt restructuring as the only alternative

A debt rescheduling is suitable for everyone who either has a loan at high interest rates or several loans at different conditions with different banks at the same time. For example, if you pay off a car loan at 5% and an overdraft loan at 13%, it is worthwhile to combine these loans into a single low-interest loan with, for example, 3.5% interest. In the end, those with lower interest payments can significantly reduce their monthly burden.


These conditions must be met for debt restructuring

debt restructuring

The prerequisite for this is that your credit contract contains an option for early termination or redemption. In the case of contracts with variable interest rates, this is provided for by law. With fixed interest rates, it is not possible in all cases and is regulated individually in the contract. The best thing to do is to read this in your loan documents.

In the event of early termination, you still have to expect payment of a prepayment penalty to the bank, which will be charged as a fee for the lost interest. As a simple calculation, the total fee should then be lower than the other original interest payments and the savings you have with a new cheap loan, so that it ultimately pays off for you. In most cases this will be the case.


Find debt rescheduling loan and cancel contracts

debt loans

If you are able to terminate the existing contracts properly and on acceptable terms, you must find a provider for the individual debt rescheduling loan at the best conditions before rescheduling. To compare the loan rates with the existing ones and to offset all costs, it is best to use specialized comparison portals where you can get the offers available on the Internet with just a few clicks.

A popular and reliable provider is our partner Spin Lender, with whom you can make a comparison quickly and safely on the comparison portal with little effort and who can display debt rescheduling loans at the best conditions. The processing and subsequent conclusion of the contract can be regulated almost entirely online on the platform. You can find the Spin Lender portal right here.

You can also search for loan providers for debt rescheduling on our website using the integrated comparison calculator, which is also provided by our partner Spin Lender. You should be able to find the best offers in no time.

This is what you can win and lose if you have a credit card in your twenties Fri, 24 Jul 2020 03:27:12 +0000 Is being young and wanting a credit card crazy? Something that is not recommended? The worst decision in the midst of your twenties? Don’t worry, it’s not really a black or white matter.

The truth is that credit cards are a very attractive financial instrument for everyone, especially because they bring benefits that help us get even more out of them and achieve our goals. But it is also true that it is necessary to learn to manage them in order to use them well, because just as they bring us many joys, they can also be the cause of a great nightmare, especially for young people.


Starting work is synonymous with independence

payday loan

It also starting to pay your expenses, deciding about your money, among other factors that young people begin to live. And it also means that you can now buy a credit card and decide how you will use it.

If you are thinking that plastics are from the devil and you are a young man, you should not have them because they will lead you down the path of evil, calm down! We invite you to know what these instruments can bring to your life and to decide for yourself whether or not they are worth it.


It offers you benefit

loan offers

First of all, plastics bring benefits that can be exploited. These will depend on the type of card that one chooses. There are those that allow you to accumulate discounts in trendy bars and restaurants, these are designed mainly for young people, as they give them discounts in the places they usually frequent.

There are also cards designed for travelers, which allow them to accumulate miles, access to VIP lounges at airports, which include travel insurance, etc. Thus, each profile can find a card that suits their needs and the important thing is to choose the one that suits them best.


Free things

Free things

Free-free? Without paying anything for them? So is! Many of the cards allow you to accumulate points that can later be redeemed by consumer vouchers in supermarkets or in catalogs with different products such as perfumes, bags, travel accessories, household items, desktop accessories, among others.

By making good use of plastics, in the following months offers will begin to arrive not only to improve plastics with lower interest rates or cards with a more exclusive profile, but also offers of personal loans with preferential interest rates or convenient deals. This is because it shows that you are a good customer.


Financial institutions know you

financial loans

To have access to financial instruments it is necessary to develop a good credit history. If in the future you want to apply for a home or car loan, it will be important that there is a certain history and record of your behavior as a customer. Credit cards help you to show yourself to the world, and appear on the map of financial institutions, especially if you are a customer who has proven not to pose a risk to the bank.


What if they become a risk?

loan risk

Credit cards start to turn negative when you start to lose control. If you are a person who cannot control how you spend, it is better to try to be careful, step by step, since credit cards can be very tempting.

What can you do? First of all, don’t think of your card as additional money. Keep in mind that it is only borrowed money, which you must pay in a month. On the other hand, try not to abuse the fees, since you will end up paying additional money as interest. Here the important thing is to know that this financing is recommended when it comes to a large purchase, but even in these circumstances you must select a moderate number of installments.

Another point that may be convenient is to have a limit on the use of your line of credit. In order for you to continue to be well seen by financial institutions, try not to use more than 30% or 40% of your line monthly. This shows that the card is an accessory and not something you rely on to cover your expenses month after month.

Credit demand in Latvia Wed, 26 Feb 2020 14:05:22 +0000 Although the demand for credit in Latvia is lagging behind the growth trends of the USD area, in 2016, and more specifically in the first and second quarters of 2016, the volume of issued loans has resumed in Latvia.

Annual trends

Annual trends

Economist of the Agree Bank’s economic data analysis says that for the sixth consecutive month in August the banks’ loan portfolio has been growing for the sixth consecutive month.

“With every month of a slight but steady rise in the credit portfolio, confidence in the credit stagnation is coming to an end. Although the sentiment of borrowers has not improved significantly due to the external situation and cautious economic growth forecasts, banks’ assessment of future developments (for example, “SEB banka”) gives a positive outlook, “Reupsin writes.

This means that banks are starting to issue more loans after several years of “drought”. For example, in the first eight months of the year, consumer credit to households increased by 6.8%. The total loan portfolio of banks at the end of August 2016 was 3% or more than at the end of last year and 0.2% more than at the end of July. True, although banks are more active in granting consumer loans, this does not mean that household loans are growing – banks are less likely to issue mortgages, and overall, in August this year, banks had issued 1.8% or less than at the end of 2015, The Agree Bank.

On the one hand, banks are not giving as much credit as they have been asked to, because, for example, the volatility of the Russian economy has led to a significant decline in non-resident deposits. As a result, some banks do not have enough money to lend to make a profit. However, resident deposits are on the rise and the economic situation is good and will soon improve – and when people can afford to spend, they can also afford to borrow. On the other hand, a banking supervisor in Latvia has even shut down one bank serving non-residents this year. As a result of various risks, including geopolitical risks, banks may not be as burdensome in lending, even though demand for them exists.

Non-bank loans

Non-bank loans

According to the Latvian Alternative Financial Services Association, in April 2016, the largest non-bank lenders had a total loan portfolio of USD 88 million, while new loans had increased from USD 50 million to USD 55 million in April 2015. This means that demand in the non-bank credit sector has also increased. According to the above data, the quality of the loan portfolio has also increased, which means that the share of people who have borrowing problems is increasing. So people start to borrow more because they can afford it.