The Risks of Major Investments – Improve Your Financial Health


The risk is never just the investment, but the use you make of it. But in general, we have, at least as risky:

Treasury Direct

 Treasury Direct

Credit risk. The Treasury Direct is the least risky investment in the market, as it is guaranteed by the federal government. If the federal government defaults Treasury bonds, the economy becomes chaos, as much of the country’s money-including banks-is in those bonds.

If you sell a treasury bill before maturity you will be subject to the market risk of the bond price varying but not usually the largest in the market.



Credit Risk, again. It would be the risk of the bank to break, but you are guaranteed by the FGC up to $ 250,000 (including interest).

In addition, there is a risk of losing good opportunities, as Treasury Direct always pays more than savings. Then there is no need to continue saving!

Federal Precepts

Federal Precepts

Credit risk. It is the same idea of ​​the Direct Treasury: the chance of the federal government to default on a debt bond is very low.

Fixed Income protected by FGC


Credit risk. Most fixed income securities (CDB, LCA, LCI, LC, LI, LH, savings) are guaranteed by the FGC. It guarantees you up to R $ 250,000, per CPF and bank. You can find out more on the FGC website .

It’s a little less secure than the Treasury Direct.



Here begins the Market Risk. ETF is the acronym for “Exchange Traded Funds”. They are funds traded on the stock exchange. They put multiple stocks together into one package, so you can invest in multiple stocks at the same time, even if you have little money. This is a very interesting way to start investing in stocks.

Consolidated corporate actions


Market Risk, mainly. Consolidated companies are less risky because they are more predictable. It’s much harder for Ambev (one of the biggest beer companies in the world) to do unpredictable things and give unexpectedly bad results than an unknown and novice company do the same.

Investing in Startups

 Investing in Startups

The word is fashionable, so it’s good to talk about it. Startups are startups generally based on the lean startup method. That is, always make tests and quickly validate your hypotheses in the market. Like any start-up project, the risk of going wrong is much greater than a company already consolidated.

And for this reason, investing in them can give investors far greater returns (which is the case with angel investors).

Shares of companies that are not yet operating

 Shares of companies that are not yet operating

The risk here is even greater than that of start-ups. The most emblematic case was that of OGX, oil company of Eike Batista. Without having even drawn a drop of oil, the entrepreneur conquered all the investors in the chat.

A lot of people relied on his propaganda, and ignored that his project had a huge risk of not working out.

Result? The operation failed and the company was unable to extract oil. A company that started out worth more than $ 1000 per share ended quoted at $ 0.05.

Invest in your own business

 Invest in your own business

Risk of the operation going wrong. If you are a first-time mariner, the risk of things just does not work out and you lose money is great. It is therefore important to have a good reserve of money or other sources of income before devoting yourself to your own project.

Invest without fear!


Now we are talking about the risks, and you can walk more firmly in the investment world. Let’s go to the part that interests you: know the best investments for you.


How to Apply For A Credit Loan: 11 Steps | Loans



The Fovissste loan is aimed at Mexican state workers, ideal for obtaining housing at affordable cost and with monthly installments and low interest rates. So, if you’re employed by the state, take advantage of this benefit and get yourself an estate for yourself and your family. The process is simple, you just need patience because it takes months.




Start the process 1 Search works in some government agencies. Only if you work for the state will you have this benefit, so go to a delegation or municipality and revise job offers in your workplace. Also, if you have government notices, ask them to let you know about vacancies in their dependency.

  • Graduating in a bachelor’s degree gives you greater opportunities to work in government.
  • If you study, a social program or professional practice goes into any government agency so you can do a career and get a job as an employee base or trust.
  • It is important that you appoint a minimum of 18 months to be a Fovissest Credit Card.
  •  2 Identify the type of credit that suits your possibilities. If you are active as a worker’s credit depends on your income, and if you have retired and never use this benefit, then go ahead and even benefit. Fortunately, Fovisste has a fairly wide range of options.
  • Traditional credit is the most common and is given to active employees.
  • There is the modality of credit with subsidy for those who have an income of more than 5 minimum wages. This adds an extra amount of money that is not needed to pay it.
  • For pensioners, there is also a special option, only applicable in cases where the credit was never used.
  • Combined modes that allow you to add your Fovissste credit to Infonavit, or combine it with your partner’s credit.
  •  3 Check the call. Given the high demand for this benefit, there are specific periods to apply for the mortgage loan. Traditionally, the call opened in October and the publication of results was done in November. The exact dates change year after year.
  • On the official website of Fovissste you can check the days of the call – so when you see October in the area, the batteries will be charged.

Part 2

Part 2


Process your credit 1 Enter your request In order to take this step, make sure you have at least 18 months of purging for the state, so you can enter your request for a random process done in November. It’s also important to have any other Fovisste active credit. Based on the following:

    • Voter or passport password.
    • CURP.
    • If you request a joint credit, you must collect the documentation of your partner.
    • Personal data, which coincides with the CURP, in addition to your address, home and mobile, email and marriage status.
    • Work information such as the official name of the agency for which you work, your bi-weekly base salary and your appointment, whether you are a basic employee or a reliable employee.
    • Submit the application in any of Fovissste’s reception offices.
    • You can complete the form and submit it from the Fovissste website.
    •  2 Check the random procedure list. The so-called random procedure works in the following way: there is a limited number of credits per year, the amount is about 30 000, but varies in each call. Persons entering their application during the registration process dated in October and doing so within the 30,000 available cards are entitled to the credit. If you’re out of the number, you’ll be on a waiting list.
    • Go to the general list of results on the indicated day of November, where the approved requests appear. Go to the official website of Fovissste and go to the “Consult the Results of the Random Procedure” section.
    •  3 Choose your home Remember that your credit is used to acquire new or used housing, you can also build if you already have land and make improvements if you already have a home.
    • Know the amount of credit you are entitled to with the calculator that makes Fovissste available to you. In this way, you get a base to choose your property.
    •  4 Protect Your Credit If you are one of the lucky ones in the general list of results, it is to go to a financial entity authorized by Fovisste. Deliver the necessary documents, they are responsible for the rest. You can consult a list of financial entities on the Fovissste website.
    • Delivery copy of an official identification with photo and signature, as well as a copy of your CURP and the application for registration with the financial institution, take the original for comparison.
    • Subscribe to the Integral Origin System (SIO) within the “Housing Assignment” phase.
    • Make an evaluation of the house you are planning to buy, considering that it should be at least 30 years of useful life for conventional housing. Avoid attacks from incomplete homes.
    • Obtain your Unique Housing Code (CUV). This process is being processed by the financial institution if the house is used, when new, the key is assigned by the construction company.
    • You have 45 calendar days to complete the process, after this period you will lose the credit.
    •  5 Quit the process and record the actions. The final stage of the loan lasts about 4 months, be patient and meet established requirements. During this period, the financial institution must enter your credit at the Final Verification of Charge Phase. Upon completion, you must receive the date of the financial institution and the notary for signing the deeds.
    • The day you sign must be the financial institution and a representative of the property.
    • Make a copy and original of your official identification, receipt of your last two weeks and proof of address. Remember that if the credit is pooled, you need to take your partner’s documents.
    • The expenses of writing are on your own.
    • The notary fees are covered between you and the Fovissste, each paying half.

Part 3

Part 3

      Work a credit for pensioners


      1 Meets the requirements. You must be pension and between 47 and 74 years old. You did not use your Fovissste credit during your time as an active worker and would like to purchase a new home. This mode is simpler, but you still need to be patient.

      • Choose your home, remember it’s new or usable.
      • Calculate the amount of your credit with the Fovissste tools.
    •  2 Go to a financial institution. Unlike traditional credit, for this method you can register at any time of the year, the only difference is that you will enter a waiting list according to demand. You will need the following documentation:
    • credit application completed by hand.
    • pay pension from your pension.
    • Official photo identification.
    • Proof of address and CURP.
    • CUV, which is only applicable to new housing and provided by the broker.
    •  3 Draw the works of your home. The financial institution is responsible for formalizing your credit after you have the documentation, it is important that you stay tuned to do so according to the deadlines, their date for signing the notary will be given.
    • You will need an evaluation of the house you intend to obtain.
    • Prepare official identification in copy and original, CURP and proof of address to attend the appointment of the deeds.




        • The selectors must be registered with the Federal Mortgage Association, otherwise they will not accept your assessment.
        • The Fovissste loan process is completely free
        • The CUV is processed by the financial institution when you use housing, it has a cost that varies according to the amount of your credit. In this case, you have to pay the fees for this concept.


End of Year is the Right Time to Be Free of Credit Card Problems


The accumulation of credit card problems that you have faced in recent times, especially during 2017 is not without a way out. These problems, especially debts that are in arrears and are not able to be repaid are indeed often a barrier to starting new beginnings, for example to start owning a new home, starting a new business, applying for new motorized vehicles, etc. How come? Credit card problems that are in arrears often have an impact on the Historical IDI, where any arrears you make will still be recorded in the Bank Indonesia system, and poor credit collectability can make your name badly tarnished and deemed less credible for loans.


Quick Ways to Pay Off Debt


Quick Ways to Pay Off Debt


There are several ways to quickly pay off debt, the main key is to take part in a relief program. The relief program or commonly referred to as credit restructuring is an improvement effort made by the Bank in credit activities to debtors who have difficulties in fulfilling their obligations. The results of this credit restructuring can usually alleviate customers so that they can better afford to pay. There are several ways that can usually be done, for example by decreasing credit card interest rates, extending the loan tenure, reducing loan interest arrears, reducing loan principal arrears, adding credit facilities, and converting credit into temporary capital participation.

These methods are usually formed in several types of relief programs which generally can be obtained, for example: obtaining a discount on credit, deductions with extended installments, or a combination of both. Here is the third explanation   type of relief program from the bank :

One-time discount / discount

This type of lightening program makes customers able to get a discount with a nominal that is usually quite lightening.   As the name implies, even though the customer gets a discount in his debt (generally 20-50%), they must pay directly in one payment. In some cases, this one relief program can give cardholders a discount of up to 70%. It’s just that you have to have financial readiness so you can pay immediately. This type is certainly not suitable for those of you who do not have enough savings, which can be directly allocated to pay the remaining arrears that have been discounted in one payment. The main advantage that can be directly felt is free from the disruption of debt collectors and feel more calm because the debt has disappeared, because in one payment all payments can be completed.

Extended Installments with Low Interest

The second is to pay more lightly. Usually with this program customers can pay in installments at a much lower interest rate. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%. As with the installment tenure, you can pay in installments over a longer period of time. In some cases, you can repay up to 60 months (5 years).   Funds that need to be prepared to join this program are at least funds to pay DP (minimum 10% of total debt for a credit card or one month installments for KTA) or depending on the policy of the bank. The advantage of this program is that you can pay little by little without directly dredging savings. Unfortunately, high payment consistency is required. Once you miss a payment, the program will be considered a failure, and the total arrears will return to normal as if they didn’t get any relief at all.

Installment Discounts

For installment discount programs, you can usually benefit from the two types of programs above. But because of its combined nature, of course you cannot pay in installments throughout the installment program, generally as much as 6x payments. Likewise at discounts, you do not get a discount for a one-time discount program. This type of program is only available in some banks. In addition, the bank will also see the conditions experienced by the customer first. If the customer has supporting conditions that make it more difficult to pay off the debt, then it is likely that they can get this program (provided that the bank has the program).

End of Year is the Right Time to Be Free of Credit Card Problems


End of Year is the Right Time to Be Free of Credit Card Problems


After knowing the various quick debt-paying solutions you can take to welcome 2018 with a fresh start, this is a good time to take that step. Why at the end of the year or December is the right time to be free from credit card problems? There are several reasons behind it all:

Reason # 1: In order to be able to start a new beginning in 2018 more positively

Even though it is already at the end of the year, starting a strategy in paying off debt in the following year is the right step. At least, you already know how to deal with debt repayments in 2018. This can certainly make you more positive and can get ready from now on in seeing opportunities to seek additional income. For example, by becoming a freelancer or seeing opportunities to start an online business.

Reason # 2: Can Use the End of Year Bonus Well

In some companies, usually there will be a year-end bonus that can be obtained. Take advantage of this year’s end bonus as a way to get rid of bank debt. You can allocate bonuses to directly pay debts, so that it is not already spent on other expenses which are not priorities or even consumptive. That way, you can be wiser in managing monthly or year-end finances.

Reason # 3: Many Special Programs from the Bank

Some banks usually issue special programs that are more attractive and relieve you in paying off the remaining arrears. In addition, relief programs issued by banks are usually more special and may not necessarily appear in the usual months, because the year-end moments are often identified with the annual bonus. This is what usually makes the program more attractive, so that it can be adapted to the conditions of your debt. These forms of relief programs also vary. This offer is exclusive to Arsene Lupine international customers. Our experienced team is ready to help you free from credit card debt or KTA. If you want to find out what lightening programs are offered, you can contact Arsène Lupine so that you can consult your issues with us at once .

Arsène Lupine international   is the first technology-based professional services company in Indonesia, which provides a debt management program. This program is designed so that consumers who are in debt, have the ability to control their finances again. Arsène Lupine Indonesia helps clients through debt management programs, specifically designed to suit different needs for each client. This program is a combination of education on various opportunities to increase income and reduce expenditure, as well as conduct negotiation processes on existing bank debt requirements to reach the amount of payment that is in accordance with the ability. The head office of Arsène Lupine Indonesia was established in Jakarta in 2015 by a founding team that has collective experience in finance including debt settlement for more than two decades. Arsène Lupine makes Indonesia the center of operations and is also a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Arsène Lupine Indonesia has become the first company in Asia to be accredited by the International Association of Professional Debt Arbitrators ( IAPDA ).

The Risks of Investing in Peer-to-Peer Loan


Lending sites and Peer-to-Peer (Lending P2P) platforms can give people the most affordable personal and business loans, as well as provide lenders with more rewarding means of investment with more decent returns. But let’s not forget that this comes with a small risk that you need to be willing to submit to.


How to Invest in Peer-to-Peer Loan?


 How to Invest in Peer-to-Peer Loan?


I like the idea of ​​having access to Peer-to-Peer (P2P) loan sites, such as online Biva, Nexoos P2P Lending, Kavod Lending, TuTu Digital among others that allow ordinary people to lend to others and micro, small and medium-sized enterprises.

Borrowers generally get a better rate than the bad interest rates offered by banks and street financiers. While borrowers can access personal loans that are not available by being (denied or dirty-named) or are prohibitive in other places.

Many people, when they hear the word “risk,” automatically think about the chance of being defrauded, losing all their money, or getting a return. This “capital risk” is important, but it is not the only thing to think about.

Other types of risk involve uncertainty and unpredictability. When you make an investment, it can be hard to say for sure what you will receive when you finally redeem it. Stock prices fluctuate, interest rates vary and inflation is also a risk.

Just focus on capital risk and ignore all other risk factors as well, it may mean you take a less cautious approach. The Risks Of Investing In Loan Between People Peer-to-Peer.

Understanding risk means identifying your own attitude and identifying different types of risk. So you can get tips to minimize the chances of things going wrong.

However, it is not as straightforward as it relates to “Peer-to-Peer peer lending”, this lack of public discussion about the risks involved in this modality is not of concern. But, everyone should know that in any type of investment there are a lot of risks, some bigger ones smaller.

Borrow or break

 Borrow or break

The good news is that if a commercial loan or personal Peer-to-Peer Lending site is interrupted or broken, it is likely that another company will step in to manage the receipt of existing loans. A loan granted to a person or small company has in the P2P site only an intermediary acting between the parties.

However, it may be a totally different story if you are an investor. As times become more difficult for many, unemployment increases and wages are reduced and frozen, it is likely that the number of defaulting borrowers in their loan repayments will increase, this reduces the return from which they invested their savings.

In fact, if you lend to riskier people, you may be putting not only your returns, but also part of your capital at risk.

Investing in Peer-to-Peer is not like saving

 Investing in Peer-to-Peer is not like saving

And that’s the problem with sites with loan alternatives like Peer-to-Peer. I used the words “savings” above, but this is inappropriate – lending your money to other people certainly you are not saving – you are investing.

And just as you can get higher returns by putting your money in corporate bonds and private bonds (ie, corporate loans), you too must accept that you are or are going to take a much greater risk.

Many more cautious citizens have had regrettable returns leaving their money stuck in savings rather than investing in Peer-to-Peer social loans. However, you need to understand the risk they will take.

If you do not mind the higher risk, Peer-to-Peer collective loans can offer you an investment route with higher returns than savings, but only as part of a balanced portfolio. And only if you know what and how much you want to invest.

How to Apply For a Loan – Bank and Credit Loans


A loan of money is something that can be very useful in our lives, either because we want to start a new business, make a desired trip or settle any important debt we have. However, loans are not granted as easily because you have to meet a number of essential requirements to receive one. So if you want to request a monetary loan from a financial institution in Peru, we will show you how to obtain it.


Part 1
Prepare to ask for the loan

 Part 1  Prepare to ask for the loan


 1 Determine if you need a loan. The best way to know how much you need is to balance your income and expenses. If your debt is greater than your monetary income, you probably need a loan. In this case, making a budget will be your best alternative.

  • If the loan is for a special event (for example, marriage, travel, device purchase), it is best to know how much you plan to spend so you don’t ask more than needed.
  • Talk to other people. Talking about it with other people can give you a better perspective on whether a loan may actually be needed. People who have previously requested a loan can give you better advice on this aspect.
  •  2 Access your credit history. Being clear about your debt and your credit history is an important step in the approval of a loan. To know this report, visit the Sentinel Peru website and follow the instructions to access the free consultation and find all the details.
  • Another method you can use is the “SBS Debt Report”. Complete the Superintendence of Banking, Insurance and AFP (SMT) website to obtain more information.
  • Be careful if you hire a person to carry out this process as you can be a victim of fraud.
  •  3 Have a savings account. Regardless of whether you are an independent or dependent worker, a responsible savings account can make the financial institution for which you have requested the loan more easily, as you would have good savings. In Peru, all banking institutions offer you the opportunity to create a savings account called “Cuenta Cero”, which does not charge a monthly card maintenance fee.
  • Every time you receive an amount of money for your work, an amount is saved in a savings account to have good savings.
  • With a savings account you can have responsibility for the various financial institutions that you can offer a loan.
  •  4 Evaluate your payment options. Before asking for a loan, make sure you need the solvency and job security to pay it off in due time. If the loan will be one more debt in the long run and it will not solve your financial problems, you can have serious legal problems.
  • The best thing would be for you to make a chart where you have to pay your gross income and debt to know exactly whether you can pay the amount borrowed within the set limit.
  • Keep in mind that loans are always long-term loans, which means you are willing to accept a debt of many months or years.
  •  5 Make sure you have all your accounts up to date. You may have an outstanding debt – but if you want the borrower to ensure that you have sufficient funds to pay off the loan, you need to be aware of your basic needs such as water, electricity, etc.
  • Depending on the province where you live, financial institutions will request proof of payment for basic services as well as for annual properties.
  • Remember that paying these services is the first step in approving the credit, as it is essential.

Part 2
Start the loan process

Part 2  Start the loan process


 1 Find out about the different loan institutions. In Peru, there are numerous entities to which you can request a loan, ranging from savings banks, municipal savings banks, cooperatives, banks and pawn shops. In Peru, the main entities to which people go are banks because of their reliability and solvency, although most interest rates are too high.

  • Some of the banking entities characterized by low interest rates are Interbank and Scotiabank. In addition, they provide fairly convenient payment methods compared to other banks.
  • Before applying for the loan, look for more information on the entity on your website.
  • Find out the TCEA (Annual Cost Effective Rate) to get an idea of ​​how much you will pay over the long term. With this rate you will know what the total cost you will have to pay for the loan and you will know which credit is best for you.
  •  2 Analyze the different benefits they offer you. Each financial institution offers different benefits so you can request a loan. It is advisable to analyze each one and see which one is best for you.
  • Among the benefits offered are the time it will take to pay the amount, the terms of payment, the ease of payment, among other benefits.
  •  3 Deliver all the requirements they ask you. Once you have chosen the best borrower, go to your nearest branch and submit all the documents you request. Generally, you need to raise a specific gross income that falls between 1,000 and 1,200 soles, in addition to presenting your age IDs, receipts and endorsements.
  • Remember to accumulate all the documents before approaching the borrower.
  • Make sure you ask for the amount you need. After submitting all the papers, you must sign the papers and complete the details so that you receive the quantity you requested.
  •  4 Caring for your money After receiving a large amount of money, it is best to be careful when leaving because there are always criminals who pay attention to all the movements of money.
  • It is better to open a savings account or deposit the money into an existing account. This step is easier if you have asked a bank loan, as they offer you this possibility.

Part 3
Determine the payment method



Part 3  Determine the payment method


 1 Check your loan agreement. The best way to know how much you will have to pay and how long the loan agreement will be reviewed, where exactly the fees you are committed to, is detailed. Of course, before you request the loan, the financial institution will inform you of the monthly amounts and the time when you have to pay the debt.

  • It will be good to install a borrower application that you have made the process so you can control everything about money.
  • Depending on your income, you can determine the amount you have to pay monthly to the financial institution and the amount of time you will have to do.
  • Remember that you can make full or partial prepayments at any time, with total freedom and without any penalty or cost.
  •  2 Determine the payment method. If you asked for the bank loan, you will not have major complications, you will be able to make payments via bank agents, cashiers, windows or internet banking. The savings banks and municipal savings banks also have an online bank, which allows you to make virtual transfers.
  • Search for an agent near your location as it is usually found in warehouses or minimarkets, which greatly facilitates your access to the bank.
  • You can also pay by making transfers, thanks to an application on your phone, you only need your account number, ID and password to enter.
  •  3 Always check the payment notifications. Each month you will receive notifications by email or e-mail about the amount of the debt and the expiry date of your next installment. Stay quiet, because if the payment is beyond the deadline, your interest may be charged.
  •  4 Enjoy your loan. These are all the steps needed to pay a loan. Remember, if you want to ask someone else in the future, pay attention to your credit history, because that’s what financial institutions use to approve that credit.

Things That Maybe You Miss In Your Finances | Entrepreneur Finances


28 Mar 6 things that maybe you miss in the calculation of your finances


 28 Mar  6 things that maybe you miss in the calculation of your finances  


The issue of finance is often challenging for many entrepreneurs and owners of small or medium businesses, due to the different movements of income and expenses that usually occur on a day to day basis. Therefore, we will tell you the 6 things that are commonly omitted during the calculation process, so that you can have a more accurate figure of the economic resources you manage within your business and make better financial decisions.


Current assets

 Current assets


Current assets are those that represent the amount that is available to be used or invested. It also includes all the different types of income and assets that can be converted into cash in the short term.

# 1 Accounts receivable

# 1 Accounts receivable

One of the concepts that you must take into account to be able to have a more real calculation of your finances, are accounts receivable. These are identified as part of the payments from customers to whom you already offered your services or products, are current assets. Since it is money that is about to be received in a short term and can be used within the cash flow.

# 2 Money in bank accounts

# 2 Money in bank accounts

In the same way, it is necessary that you add the amount you have in your bank accounts, even if you do not use it and you have it saved for some unforeseen event. This also can throw a positive result in the calculation, it will help you to know how much you have saved and set goals to increase it. An example of this can be, to set aside an exact figure for the month and every three months to increase it.

# 3 Inventory

# 3 Inventory

Another aspect that many omit not to perceive as physical money, are the objects that are in inventory. You must consider the total value that these assets represent, since as you sell them, you will be obtaining the money to be able to circulate it. It is good to mention that an excess of inventory can be negative if it represents much higher costs of its value in itself and the value it has in the market.

Short-term liabilities


Short-term liabilities are all those expenses that are held in a fixed manner and must be settled in the shortest time. These include payments for services, the purchase of material, and those outstanding payments that are held.

# 4 Taxes to pay

# 4 Taxes to pay

One of the short-term liabilities that many often forget, are the taxes that must be settled in tax matters. Since a business that is formalized, it must comply with the corresponding tax payments according to the transactions it carries out. Within these expenditures are the VAT (Value Added Tax) and ISR (Income Tax) payments.

# 5 Loan interest

# 5 Loan interest

Also in the financial calculation, the interests of the different loans that are possessed must be estimated, either credit cards or credits requested to invest in working capital. The amount that represents the payment of said interest must always be taken into account in order to pay in time and form and thus avoid that this concept increases due to delays.

# 6 Remunerations pending


# 6 Remunerations pending


Finally, remember to identify the exact amount of all the compensation you have pending to your employees. These are an important liability and in addition to the normal payment of the payroll, it must be calculated in order to have a good administration of economic resources and avoid future liquidity problems.


How to improve the state of your finances?


 How to improve the state of your finances?


If at the end of your calculation you get a negative number or you want to increase, there are strategies that can help you. For example, in the case of expenditures or expenses, you can begin to implement strategies that help you reduce them. Look for suppliers that offer more competitive prices, use your raw material efficiently or try to reduce the fixed costs of basic services.

To increase your assets, you can devise a new collection plan that is more agile, invest in offering a greater variety of products or even prepare a plan to take the next step and grow your business.

Now that you know how to calculate your finances in a better way, try to take advantage of your resources to increase the value of your business and generate more income.



You can use digital tools, such as Kompás, so that you know in real time the income and expenses that are being invoiced in your business.


They Are Threatening My Enforcers | First Debt


If you ignore reminders from your creditors, you can now expect to be asserted by professional enforcers. This can give your creditors the mandate to recover the amount owed. Another option may be to sell your claim to another creditor, which is currently the enforcement agency that is making a living. In order to be successful and feed on the market, they usually use law-edge practices. There are a large number of smaller companies in Slovakia, only a few are large collection agencies.

Although enforcement agencies do not have any support and options in the law (such as a bailiff), their actions are very effective.

What are the enforcement techniques?


The goal of the debtors is to break the debtor mentally and recover the debt in almost any way . In practice, these can be frequent and intense visits by borrowers at home, at work,… actually everywhere. By intense we mean intimidation and blackmail. Almost no one will endure such pressure for a long time, and in many cases they prefer to borrow to pay the debt. But as a result, the borrower only continues to debt and begins a vicious circle.


What can the enforcer do and what must not?

What can the enforcer do and what must not?

If you are approached by a enforcer, it must be proven whether he is acting on the basis of your creditor’s full power or whether he has purchased the claim. Whether it is actually eligible for recovery. Then you can try to find a friendly solution with him, which in most cases will fail. These negotiations can be very emotional and even aggressive. Therefore, keep in mind that:

  • Enforcer is not a bailiff, ie. is not an official
  • Enforcer must not enter your apartment / house
  • The enforcer must not confiscate property
  • The enforcer must not use police interrogation methods
  • Keep witnesses, ideally camera on.
  • Never pay anything in cash!


Change of lender

If the creditor is changed, you will be notified of the assignment (in terms of divestiture) of your claim to another creditor. You do not need your consent to do so (except when there is an agreement with the creditor that the claim cannot be transferred to another person). Upon receipt of the notification, it is your responsibility to repay the obligation to the new creditor.



If you do not want to be under pressure and pay 100% of your debts, please contact us.

Our certified specialists will be happy to advise you for FREE.

Our separation of legal aid is able to reassess all of your commitments and find loopholes that make it possible for court claims against creditors to be challenged. Alternatively, we will be able to agree with the majority of creditors on better terms and payment schedules that will be acceptable to both parties. It depends on the particular case.

Do not wait until your debts grow over your head and contact us via our contact form or by calling 0800 221 331 . We will help you!

Personal bankruptcy | First Debt Consolidation


Are you over-indebted, failing to meet your obligations, and do you have an execution against you ? A possible solution for you could be debt relief, also known as the so-called debt relief. personal bankruptcy .

Personal bankruptcy is the way in which entrepreneurs and individuals can dispose of their debts by one of the two forms of law, either in the form of bankruptcy or in the form of an installment schedule.


100% debt relief can be achieved without any property!


100% debt relief can be achieved without any property!


Currently, the most favorable conditions are set for debt relief from all over Central Europe. Personal bankruptcy is possible even if you have no assets. As a result, almost everyone can reach it. However, this situation is unsustainable in the long term, so conditions are expected to tighten again. So do not hesitate to miss this unique opportunity to get rid of all your debts and start a new life.


Personal bankruptcy

Personal bankruptcy


The first debt relief service has been in operation in Slovakia for more than 6 years. We have great experience in debt relief and we can boast thousands of satisfied customers. This allows us to offer very fast, flexible and quality services. We will prepare all the documents within a week!

Do not postpone your problem solving and fill in request online *. The legal aid application will be ready within 7 days.

* Your operator will contact you within 24 hours. It will select the office of the Bailiff’s closest to your residence. We will arrange a free appointment for you to analyze and suggest the best option for debt relief. You will then submit the supporting documents and within 7 days you will have a request for legal aid for personal bankruptcy together with the necessary annexes to the relevant Legal Aid Center.


Conditions of personal bankruptcy


Conditions of personal bankruptcy


A personal bankruptcy application will be submitted to the Legal Aid Center (CPP). The Legal Aid Center is a state budget organization established by the Ministry of Justice of the Slovak Republic on the basis of Act no. 327/2005 Coll. on providing legal aid to persons in need.

Who is entitled to personal bankruptcy? Below is a list of terms a person must meet:

  • You must be insolvent – you must have at least one debt of more than 180 days overdue
  • There must be at least one execution proceedings against you
  • The amount of your debt must be greater than the value of your assets
  • In the event of a bankruptcy, you must return a loan of EUR 500 to the Center for Legal Aid for a period of 3 years after the debt relief is granted, which the Legal Aid Center will provide you with a fee for the administrator
  • In the case of a repayment schedule, you must pay EUR 670, – as a reward to the administrator and the designated lawyer
  • Within 6 years of permission for debt relief (from court ruling), in the event of a minor inheritance, donation or win from a bet or game, you are obligated to voluntarily offer at least half of that money to creditors to meet unenforceable debt
  • You have to have so called a center of major interests , that is, you must have a residence, family, relationships, property, economic and social ties that can be proven

Whether you are entitled to personal bankruptcy and meet the conditions you can verify in our unique bankruptcy calculator.


When is personal bankruptcy the appropriate way to deal with your debt?

Personal bankruptcy is an ideal solution for all those who are unable to pay their debts, whose debts exceed their assets, and the bailiff is conducting execution proceedings against them. By ordering the debt relief court, all court proceedings relating to your debts are brought to a standstill, and at the same time the debt relief is the reason why you can file a motion to suspend executions against you. Obviously we will make the necessary proposals.

Forms of debt relief


1) Bankruptcy

Bankruptcy is a form of debt relief for people who have no assets or are willing to give up their assets in exchange for getting rid of their debts.

2) Payment schedule

The repayment schedule is a form of debt relief for people who have property and want to keep it. The monthly income of a person wishing to use the installment plan must be such that, after paying for the basic necessities, he or she is able to pay 110% of the value of his property in installments over a five-year period. During permitting of debt relief in the form of an installment schedule, the so-called protection from creditors, ie executions against the debtor is postponed by law.

Our specialists and lawyers will consider whether it is more advantageous for you to have a bankruptcy or repayment schedule. They will prepare all the documents so that the administrative proceedings before the Legal Aid Center and the court proceedings before the bankruptcy court will be without problems.



The course of personal bankruptcy


Personal bankruptcy has several phases:

  1. Submission of an application for legal aid for personal bankruptcy together with the necessary annexes to the relevant Legal Aid Center
  2. Decision of the Legal Aid Center on granting legal aid: ( A) in the event of bankruptcy, the designation of the Bankruptcy Center; (B) in the case of a repayment schedule, the appointment of a lawyer for the preparation and submission of an application to determine the repayment schedule
  3. Submission to court (electronically), which should decide on the application within 15 days of service
  4. Court’s decision to grant debt relief , which decision will also be appointed by the trustee (the effects of debt relief are already made by a judicial decision)
  5. Another course of personal bankruptcy – A) in case of bankruptcy is the realization of the property . If the debtor does not have any assets, the trustee shall notify it in the Commercial Bulletin and the bankruptcy shall be canceled (terminated); B) in the case of a repayment schedule, a five-year period occurs during which the debtor is paying the intended repayment schedule
  6. Termination of proceedings


Do You Need To Use A Credit Card To Shop? Title Loans


Of course, you spend a lot of time shopping for household needs, especially before Idul Fitri. Although traditional markets offer cheaper prices, some of you may choose supermarkets or supermarkets as your loyal shopping buddies. In addition to a comfortable shopping atmosphere, supermarkets also provide convenience from the various payment modes offered, one of them is by using a credit card. But do you need to use a credit card to shop during Ramadan?


Consider the amount and type of your expenses


Consider the amount and type of your expenses


How big your nominal expenses and the type of goods you buy are things that need to be considered in determining whether you need to use a credit card or not. Some features of a credit card can indeed help you save on spending in Ramadan. However, it’s a good idea to consider ways to maximize these features so you can save more. For example, if you buy dinner and see a promo at a restaurant using your credit card, before deciding to use the promo, it’s a good idea to compare your initial dinner budget with the final price of the promo. Not infrequently the promo encourages you to spend more than you normally spend.



This cashback feature is one of the most tempting features of a credit card. When spending money on shopping, you can get money back from the transaction. The example is this: for example there is a promotion with a 2% cashback feature in your subscription, then you shop for 2 million rupiah, so from this transaction you can get 40 thousand rupiah back to your pocket. To maximize this feature, of course you need to pay attention to the cashback percentage offered and the maximum limit of the cashback .

Promos and Discounts


Some banks work together with certain brands to provide benefits in the form of discounts. Here you need to pay attention to which brands give discounts on your credit card, so you can get the maximum discount. This is not only limited to physical stores, but also online stores and e-commerce.


Supermarket Special Credit Cards


 Supermarket Special Credit Cards


Some banks offer credit card offers that work directly with your favorite supermarket. This special credit card usually gives you benefits at a discount that is more frequent and with a greater percentage. It is also very useful to save your expenses in the month of Ramadan. Even so, don’t forget to make sure that the credit card you use has cooperation with your favorite supermarket, the most frequent and easy to visit, so as not to bother your shopping activities. Several available supermarket credit cards include Lotte Mart, Carrefour, and Hypermart.

Points Reward System

Some credit cards have a reward point system that will continue to accumulate during your shopping activities. With this feature, you can save expenses by exchanging points that have been collected on your credit card. Points can be exchanged in the form of prizes or even discounts on certain transactions. Before using this feature, it is also important for you to pay attention to the percentage of the discount you will get. Usually banks give a maximum percentage of the discount you can get.

0% installments

Getting THR in Ramadan might be a motivation for you to buy the dreamed item. Approaching the end of Ramadan, not infrequently you can find ideal items at lower prices, both in physical stores and online. Not only discounts, you can also use the convenience of 0% installments using a credit card. This feature can give you relief in buying ideal items, and can use your THR for other purposes. Before deciding to buy goods, it is also important for you to compare the price of installments with the ability to pay. Do not let you buy outside the ability to not be able to pay off credit card installments.

So, do you need to use a credit card to shop during Ramadan? The decision is in your own hands. You can indeed use the benefits of a credit card to help you save money, but it is important to ensure that the credit card bills that come out later can still be paid before maturity and avoid interest. Do not let your shopping activities currently make it difficult for you later.