Consumer credit is a repayable loan whose amount is between € 200 and € 75,000. The ASF, the French Association of Financial Companies has identified 4 types of consumer credit, which include, the loan assigned, revolving credit, lease with option to purchase and personal loan. Fast consumer credit does not correspond to one type of consumer credit in particular. This name is used to support the urgent nature of consumer credit for the customer. When the need for financing is urgent, the consumer has the choice between different options to get a quick consumer credit.
To obtain a fast consumer credit, the consumer has every interest in wanting financing worth less than € 3,000. When the credit is less than € 3,000, legally, the credit institution is not required to require supporting documents. Whereas when the loan is higher than 3 000 €, the lender has the obligation to require a certain number of justifications to the consumer, it is the proofs of residence, and income.
However, regardless of the type of rapid consumer credit, the borrower will have to wait for the 14-day withdrawal period to dispose of the funds. The consumer may shorten this period by requesting the release of funds before the end of the withdrawal period and waive, therefore, the withdrawal period. But he will still have to wait at least seven days.
The client and his banker
First, faced with a financial emergency, the borrower can contact his banker first. The banker knows his client, has his financial history, so he can bring him more easily the quick response he expects. Indeed, the banker can try to find the best financial solution for his client, by offering him the consumer credit best suited to his needs. In order to retain his client, his banker may be required to grant him more favorable credit terms. Indeed, banks offer their customers all the different consumer credits. However, if the consumer was dissatisfied with the proposal made, his desire for speed should not prevent him from negotiating the terms of his quick consumer credit.
Then, the best way to get a consumer credit fast for the consumer when he decides to do without his banker is to apply for credit online. Today, no credit organization can do without the internet. For the consumer, the internet is a valuable tool that allows him to make simulations online, to compare the different proposals on the market. Once he has chosen the financial institution, he can directly apply for credit online. At the end of the information of the credit application, the consumer will be able to obtain an answer in principle from the credit agency. All he has to do is print the application and send it to the credit agency. As a result, the consumer who needs quick consumer credit will be well advised to apply for online consumer credit.
Quick consumer credit for the purchase of a property
The consumer may wish to obtain quick consumer credit, but the need of the customer will determine the notion of speed. If, for example, it is a question of buying a good, the sign-in which the good is sold could bring a quick consumer credit solution to the consumer. Indeed, many large brands offer their customers to subscribe directly to the credit assigned to the point of sale.
In this case, the regulations prohibit the seller from differentiating the selling price of the good, with or without credit. In other words, the price of the property will remain the same, with or without credit. The consumer will have quickly obtained a credit affected. It should be noted that despite the financing of the purchase by an appropriated credit, the customer can request to benefit from an immediate delivery of the financed property.
By choosing this credit allocated as fast consumer credit, the consumer is a little more protected, so if the good was not delivered, the consumer would not have to repay the loan in question. Under an assigned credit, the consumer enters into two contracts, a contract with the bank, and another contract with the sign. Only after the delivery of the goods will the consumer be able to start repaying his credit maturities.
The revolving credit
In the case where the consumer would have previously obtained a revolving credit that he would not have consumed in part, or in full, he would have the opportunity to use it to quickly have the line of credit he needs. That is, if in the two years preceding this urgent need, the consumer had obtained a revolving credit, he has two years to use the capital. At the end of these two years, the revolving credit will be terminated automatically. The revolving credit is expressed in two ways, either by a line of credit directly linked to his bank account or by a credit card. In this context, the consumer will no longer be subject to the legal deadline, and the funds will be all the faster.
When the rapid consumer credit is materialized by a line of credit, the consumer can draw on this line of credit by making transfers or checks. In this case, the delay is only related to the processing time of the check or transfer by the financial institutions. When he has a credit card, the consumer can use it to directly finance his purchases. Indeed, with revolving credit, capital is always available to the consumer, it only pays interest on the capital it has consumed. While credit is easily accessible, however, revolving consumer credit is the most expensive consumer credit. Interest rates are the highest, but on the other hand, with this credit, the consumer can obtain relatively low monthly payments. The low monthly payments are explained by the fact that the borrower pays mainly interest, in fact, the capital repaid in the terms of the borrower is quite low, which lengthens the duration of the loan. But the borrower with a revolving consumer credit can decide to proceed at any time to an early repayment of his loan. With repayments, the consumer restores the capital of the revolving credit. The consumer using this method of financing must be vigilant, fees may be required for any transfer of funds, the credit card may be charged …
The personal loan
Anyone who wants quick consumer credit can go for a personal loan. Indeed, financial institutions often tend to direct clients wishing a quick consumer loan to the personal loan. The personal loan allows the borrower who requests it to obtain a line of credit without having to justify the allocation of funds. Unlike the revolving credit, this line of credit can not be renewed as and when repayments. But, interest rates are much more affordable for the borrower.
While for revolving credit, the APR is not known, with the personal loan, all the conditions are known, the consumer knows precisely what will be the cost of his loan, the APR applied, the amount of drafts, the date of maturity of its loan. This consumer credit is even faster that the consumer will not have to provide the estimate of property to finance, and therefore, can not be imposed a contribution by the lender. Therefore, the procedure is all lightened.
In addition, the borrower is more likely to obtain a rapid consumer credit if the amount of the consumer credit is less than € 3,000.
Finally, even in the face of an urgent situation, the consumer must remain vigilant when applying for a credit to a financial institution. Indeed, depending on the need, and the credit to which he has subscribed, for the same amount, the duration and cost may be different. Regardless of the credit chosen, the borrower must carefully consider the terms of this consumer credit, be it the costs for the opening of the credit line, the terms of early repayment, the extension of the due date. , payment delay payment.
Despite the urgency for the applicant, the credit professional must comply with the legislation in force, in particular by ensuring that the consumer is not registered in the FICP file.
For all consumer loans, professionals must comply with the legislation in force, so, on all advertisements the legal notice must appear: “A credit commits you and must be repaid. Check your repayment capacity before you commit “.