Sometimes, even high-income Russians have difficulty with money, but making ends meet is especially hard for a poor person. Some citizens, being in a difficult financial situation, manage to spend an incredible 180% of their income. No, this is not a typo. Poor people, for the most part, spend a lot more money than they earn, often get into debt, try to take advantage of various social support. As a result, it becomes harder for the poor to take credit.
And you do not need to be a genius to understand that this is a big problem with grave consequences for society as a whole. The fact that low-income people often pay more for the same purchases cannot bode well for the future. So why live with a low income is more expensive than middle or high income.
Getting a loan to the poor is more difficult because of a bad credit history.
The less money you make, the more likely you have a bad credit history. In addition to assessing the solvency at the time of the loan, credit history is increasingly becoming an important document in other industries. So, some employers may refuse a person to get a decent position in the company, and a progressive realtor will refuse to rent an apartment.
Why do we say that getting a loan to the poor is more difficult? Because having a small income and not a positive credit history, a person becomes less attractive to banking organizations. To issue a loan to such a person, you need to take an increased risk. And then the banks either deny the borrower, or expose him a higher interest on the loan.
To more clearly consider the situation, let’s take the example of a fictional person. Suppose Anna, 35 years old, has a mortgage on an apartment in a residential area of St. Petersburg, a car loan and a small loan on the map. If such a person has a good credit history, the total amount that she will need to pay for all of the above will amount to 9,600,000 rubles. If CI is average, the amount may be around 12.800.000. But if her credit history is bad and she, nevertheless, will be given loans, it can reach 20,000,000 rubles. This is two times more than if she had a good credit account despite the fact that she uses the same things.
Taking a loan while living in a poor neighborhood is also more difficult.
Some banks may pay close attention to the area or city in which the borrower lives. If you take the world practice, you can see that banks come out of those regions and even countries where there is a poor financial situation. Also, bank managers refer to your place of residence, which may affect the conditions of the loan.
If you have difficulty taking a loan
You can always take a loan from our company. We differ from banks in that we approach the situation of our clients strictly individually. The loan amount, interest, payment schedule, all of which can be adjusted for the specific situation of the borrower.