In order to carry out a wedding, you can contact the lender to apply for a wedding loan. These organizations have special programs for those who decide to get married.
If you have not enough funds, you can pay attention to a consumer loan or a loan for urgent needs. Wedding loan is a kind of consumer loan. The difference lies in the fact that the money is issued on terms that are quite favorable for young people.
Before filling out an application, you should study the following points:
- interest on the loan;
- terms of payment;
- maximum amount.
Requirement for issuing a wedding loan
After that, you can go to a financial institution to apply for a loan. You can download the list of mandatory documents. An employee of the department will help you to issue it and send it for consideration. Some documents must be attached to the application. Each bank asks for its own set of papers, but almost everywhere an ID and income statement for the last 6 months are required.
Guarantors may be required to get the requested amount. In this case, they must also submit to the bank the documents that are required from the future spouses.
The application is processed within 1-3 days, after which the bank informs the client of its decision. If the answer is yes, a. After that, the money is credited to the account.
Unpaid loans may be the reason for the request rejection.
Up-today borrowers face a number of challenges. The average age of young people getting married in the United States is 20-23 years. This means that the couple may simply not be given a loan or the newlyweds will not be able to pay it off. Also, sometimes unscrupulous creditors go for outright deception (change loan rates). This is usually done by microfinance organizations. In order not to get into an unpleasant situation, you need to carefully read the signed agreement and deal with trusted banks.
What to do if the bank does not give a loan?
If a loan is denied, you can try to sell something from unnecessary property. Before putting up for auction real estate, you need to think carefully about whether the game is worth the candle. The city apartment may come in handy in the future. It’s another matter if the dacha is empty or the young have bought a car earlier.
Another option is to ask the invitees to present gifts (of course, in cash) to the event. If there are, for example, 100 guests, and each of them will give, money, you can gain and cover a significant part of the costs. If this is not possible, then there is nothing left to do but abandon the idea or organize everything yourself.