Economy Alliances

Archive for the ‘payments’ Category

Commercial transactions for the purchase or sale of goods or services for an amount exceeding 50 000 Bs, cannot be made in cash but by check and / or credit and debit cards from 1 February this year.

The new determination, which requires bills to be based on Article 20 of Law of the State General Budget 2011, which incorporates changes to the Tax Code so that “any purchase and sale of goods and services, for an amount exceeding to 50 000 Bs, takes place through a reliable means of payment that is authorized by the Supervisory Authority of the Financial System.

The president of the National Tax Service, Roberto Grate, in a note published in the newspaper Cambia, said that with this new control mechanism, which also participate the National Customs of Bolivia, were able to identify companies and people engaged in transactions and does not emit n invoice.

Told the daily that they pay for the purchase of goods which exceed 50 thousand Bolivians, they must do so through this source (check or credit card), and no cash, and that’s going to control people they buy a certain amount of products and sell it without extending the bill.

He said that if a person decides to buy a motorcycle or a vehicle whose price exceeds 50 000 boliviano, one should use reliable payment mechanisms (check or credit card, debit card or any other) to be set by the regulator the financial system.

When ever you want a credit card, loans, insurance, mortgage, or simply want to buy something on finance, your credit score will be used to evaluate whether you are eligible. Using your credit score, lenders can work if it is going to make the payments and be a good investment.

Lenders are looking for borrowers who always pay their debt in record time. They can do a lot of money to people who pay off the loan quickly. Instead, lenders are looking for people who will pay interest for quite some time, but not likely to go bankrupt.

Just because you have a great credit score does not mean that lenders will accept automatically. If you have a credit card with high interest rates, no annual fee and have always paid your credit card in full, lenders do not like. If you never pay interest on your credit card, your lender pays you money every month and getting nothing for it. Your credit score is too high. They see you as a bad investment, since they are making any money with you.

Lenders calculate a credit score data from many sources. These sources range from the information the company has, to government and other companies.

The application form is the primary source of information that lenders use to calculate your credit score. Details such as salary, family size, if you own a house and the reason for the loan are used. Lenders like to guide borrowers who have little money but still cannot repay the loan in full.

Previous relationship with the lender is also used in the calculation. All his previous iterations with the lender are analyzed to help inform the lender of your money habits.

The agencies collect information about you and may send this data to any potential lender. This information can be compiled from information from electoral rolls, court records, and financial data.