Goal definition
Before you start to look for the financial partner, or the company, which provides money in credit, first answer simple question: “Do I need to run into debt?”
Contact of the financial institution and potential client starts from goal. Each side has its own goal. The financial institution can offer to the client money for temporary use for development, and the client tries to get what he/she wishes.
If you consider that the bank or microcrediting company as an opportunity to implement your goal (enlarge business, buy car or apartment), please answer following questions: “Do I have enough income, which can be confirmed that creditor trusts me and provides finance? Can I prove that I am able to repay credit in time without damage to other expenses?”
Information collection
Information collection is very important phase in decision-making, which allows reaching goal. It is drastic to know all details of every financial institution: what are interest rates, what is size of commission fees, what period of crediting and other details, which will affect size of credit.
We suggest you following tip to make easy information collection and processing, define a partner and decide how you can serve credit without challenges. It is worth to say that table for other credit or deposit products of the financial institutions can be created according the same principle.
Willingness to cooperate
After information collection and analysis, you have chosen the financial institution you are ready to work. Please, again draw attention to following moments:
• you are happy with terms and conditions of the credit, in particular interest rate;
• you decided what amount of money is better to take to be able to serve credit without harm to the family;
• service quality in the financial institution. The officer of the financial institution explained you conditions of product/service in simple and clear language. The officer was polite and ready to accept your information after listening to you and asking question. The officer possessed information on products, which may allow saving of your time for visits to the financial institutions.
Portrait of good creditor
We have to point out that effective relations between the client and financial institution are two-way process, which is accompanied by rights and duties of its participants. So, the financial partner from his/her side guarantees service quality.
For example, he/she creates products in accordance with needs and capacities of the clients. During explanation of crediting conditions, he/she speaks understandable language, understands what product or service the client needs.
He/she prevents excessive liabilities (re-crediting) of the clients, warning about risk and opportunities, in certain case he/she can reject credit lending.
Be responsible for pricing issues, consider situation in the country, precisely follows his/her mission.
Be fair and respect the clients, and hence, to create conditions, under which the client served in comfort and solve questions.
Keeps confidentiality of data of the clients, information on clients is submitted to the competent bodies only under consent of the client.
He/she uses all mechanisms of receiving, consideration and resolution of complaints.
Portrait of diligent borrower
But cooperation will be successful only under condition that the client, in his/her turn, also will be committed to this aspect:
– properly assesses his/her financial capacities;
– provides accurately required information;
– fulfills his/her commitment and enjoys own rights;
– discusses all issues linked to credit with his/her financial partner.
Thus, all participants are engaged in long-term and effective relations.