Bank loans and securities. - page 6.

Don Pedro Dinero

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Quote from: TribalBob on March 28, 2023, 05:52:53 PM

a loan of 23000$ is a large amount in my country and needs a collateral like what you said,

There are cases where it is not needed. If you have been a customer of the bank for a long time, and you have a stable job, they can give you that amount without collateral, at least where I live.

Quote from: Greggry on March 28, 2023, 03:25:14 PM

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

There are many aspects of banks that I don't like, but asking for collateral is normal if they have doubts that you are going to pay back the loan. Check out the lending section of the forum. It's the same thing. Someone who is low rank won't get a loan if they don't give collateral. High rankers who participate in signature campaigns are usually given a loan because they have a repayment capacity and because if they don't repay the loan they would be red tagged and would lose their ability to participate in signature campaigns.

Smack That Ace

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

If you had money, would you be willing to lend money to a stranger without collateral? You will do the same thing the bank did to you. The way you present your statement, I smell that you are criticizing education when you are failing yourself. Instead of blaming the education or banking industries, look at yourself and what got you into that predicament. Many people always blame the government and banks, but when it fails, they run to the bank for help. Those things contradict each other.

Despairo

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Let's say you failed to pay back your loan and the debt collector already give your warnings for many times, the advantage are on your side because it's up to your decision to pack back the loan. The bank agent need a valid collateral e.g. house, land or any asset because they can sell your asset anytime at the worst case, do you think the banks doesn't make any money to give a loan?

If you think banks are unfair for asking such collateral, you can ask a loan in this forum [1] and give your school certificate as the collateral, I believe 100% any lenders will reject your request.

[1] https://bitcointalk.org/index.php?board=65.0

Silberman

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

Personally I prefer when banks are tighter with the money than when they are incredibly loose and they give money to anyone that ask, you may think that is unfair but banks do not loan money out of their kindness and goodwill, they want to earn money and if you cannot show that you can repay the loan or have a collateral big enough to give them a guarantee they will not lose any money then they are within their rights to deny your request.

bbigtart

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Banks have a responsibility to minimize risks in providing loans to their customers. One way is to ask the borrower for collateral, such as property, land, or other investments. In your case, the bank may have determined that your school certificate does not provide sufficient collateral to support your loan request of $2,300. This does not mean that education is of no value, but in the context of lending, banks prefer collateral with clearer and more measurable values, such as property.

However, that doesn't mean the bank will trick you before giving a loan. As a customer, you must understand that banks must consider many factors before providing a loan, including credit risk and your ability to repay the loan. In addition, banks must also comply with the rules and policies set by regulators and related authorities.

Gallar

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

indeed, when you want to borrow money at a bank, generally all banks have conditions like that, there must be a guarantee commensurate with the money to be borrowed, the reason is because the bank is afraid that the borrower will run away and not pay. so collateral is the key to the padlock from the bank for customers who borrow money. those without collateral are unlikely to be able to borrow money.

that's what I know from the experience I've been through, and I don't want to borrow money from the bank anymore, the reasons start from the interest which is quite high and the strange thing is that I used to become addicted to borrowing money from the bank.
but what is certain is enough for me to borrow money at the bank.

and the problem is you want to pawn your school certificate at the bank, the bank will definitely not accept it. because the bank cannot sell your school certificate when (for example) you are in arrears or you are unable to pay.

xSkylarx

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They need assurance and that is really the protocol. Also it doesn't mean that your certificate has no value, it has value for you as you treasure it and hard time to got it but it doesn't mean that you can sell it off as it has no price value that is why they needed something assets that can bank sell of to others if you can't repay your loan. But still yiu can take a loan as long as you are working just give them proof

karmamiu

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Let me ask you this then. What does your education guarantee them? Does your certification from your education worth $$? This may be rude but we are no longer in slavery period in which you can use your body as your collateral. In this age slavery is illegal but you can sell your body to a company and become a corporate slave (that's legal), this an option too.

Darker45

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No bank will ever survive if they will grant loans simply on the basis of school certificates. LOL! It doesn't give them any security. What if you don't pay your loan? Will they recover their losses out of your school certificate? What are they going to do with it? Can they sell it at the exact amount that you borrowed from them? Come on, man! You cannot expect this to happen.

On the part of education having no real value, if you are referring to monetary value, it may not have it. But it is wrong I believe to think that education's value is monetary, although, of course, you can earn and make money out of your university degree or whatever.

bastian466

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

A school certificate is not a requirement for borrowing money from a bank, of course it will be rejected. That's what I know, but for the requirements for applying for a job. maybe it will apply if you borrow from a pawnshop or mortgage it to a pawnshop. Banks require collateral, it is not easy to apply for a loan, large or small loans definitely require land, home or business certificates and you can also use vehicle certificates. hill income or salary slip

TribalBob

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a loan of 23000$ is a large amount in my country and needs a collateral like what you said,
sorry for your school certificate it cannot be a guarantee in a bank loan
even in small amounts, collateral is needed in the form of a business license and even that must have stages starting from 100 $ for loans if the payment criteria are good, it will increase periodically to a maximum limit of 500 $

Dr.Bitcoin_Strange

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OP, just like @dunfida said, banks need good collateral that can be resold to cover their loss if you are unable to repay the loan. Your certificate is very valuable because, without it, you can't get employed by any company. You definitely would need to tender your certificate (for hiring) before the company to which you are applying for a job would hire you. So the bank has nothing to do with your certificate; they cannot use it to get employed in any company because the certificate contains your details and only you can use it. So don't blame it on your certificate; it has value.

ChiBitCTy

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

English not being your native language I had a bit of a difficult time understanding what you were trying to convey here, but I think I may have the gist of it.

Banks CAN loan you money above their security measures. It's just all about whether they want to or not, or if they don't think that someone or a business would be a good investment for them. Let's not forget bank loans aren't just them being nice, it's all about an investment on their behalf.

So physical properties, education, bank rules and stipulations etc etc all factor in to the equation.

Scripture

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Banks are more strict than your know, they have a lot of credit investigation before they release any fund because that is their protocol and you have to accept it. Opening an account with bank is also not easy in my country, fortunately Bitcoin created or else many will still have no access to financial institution and will remain on a traditional option, which is for a slow remittance.

pawel7777

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

Would you lend someone you don't know money if all they could offer as security were school certs? How is that even a security?

In the vast majority of cases you wouldn't even need any collateral if you had full-time employment. Using land/house as collateral for a small loan of $2,300 is a massive overkill. The legal costs of drafting such agreement would make it too expensive.

If you need that money for something constructive, that can yield you an income later on - just speak to family and friends. That's usually the best and cheapest option (and, in your case, probably the only available one).

jrrsparkles

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If you default the loan they can't make money from those certificates but they can sell the assets in auction which you gave them as collateral which makes there is no loss for banks even if you failed to payback.

However there are different types of loan and some of them doesn't need collateral like personal loan, credit cards, etc when you default it's a loss for the bank but the credit score of your will drop and you can't take any loans in that country anymore.

livingfree

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You've talked to a bank and that means that it depends on what they're valuing and that's common when you ask a loan to them. There have been non-collateral loans on them but the amount you can loan is minimal and that's what you should have loaned instead of what you've asked for.

It's not a surprise that they've asked you for a collateral and with that amount, they want a collateral that has a higher value and amount from the loan you're asking them.

Nwada001

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Banks don't just accept any and all collateral; if what you present to them as collateral is below the amount you are requesting for borrowing, they won't even accept it.

And if by any chance what you tender as collateral is depreciation in a valuable asset, let's say a landed property, and those areas are no longer being developed or something crisis-related happens, they will probably contact you for other collateral or ask you to pay back the debt if you can't, they will have no choice but to sell off the property as it will be part of the lending agreement between you and them.

So if you need any loan from Bank you have to bring a very solid collateral, the higher the worth of your collateral the higher your chances of getting the loan approved.
It's just business as usual for them.

dunfida

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Quote from: Greggry on March 28, 2023, 03:25:14 PM

Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

What would you expect?

They cant just grant you a loan just bringing your school certification or something in related which is totally understandable and common sense.These institutions wants to be securing out whenever they do grant some loan into someone.In case that they wont be able to repay then there's still something that they could sell back for them to at least to patch up those losses which those lendors did make.
This is why you coudlnt expect that they wouldnt really be that strict on giving those loans without any solid collateral and lastly, who do give out the idea for you to take some loan
with having that kind of idea? Cheesy

Greggry

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Banks can not loan you above their security measures. I went to bank to access a loan of $2,300 and they ask me what's my securities collateral to back up my loan reguest. And I said my school certs. The bank agent said such amount required housing, land or multi investment documents not just certification. So that's mean education do not have the real value but properties does.

Financial institutions are very conical in dealings with others. They can beg to bring money for them to use it and build estates, mortgage and occupy landed properties but they will screw you before given you a loan.

Topic: Bank loans and securities. - page 6. (Read 764 times)