It is virtually impossible to spend a lifetime without borrowing money . At some point we will all need to turn to a financial institution to acquire a car, travel with our family, make renovations or improvements to our home or pay for the studies of our children.

It is normal for you to hear people speak badly about credits, and it is also normal for you to feel a little afraid when thinking about requesting money from a financial institution. However, the reality is very different from the perception one has. If you need a loan you are surely comparing different options. Here we disprove some of the most common myths about personal loans.


Myth 1: loans borrow you

loans borrow you

False. Debt consolidation by financial institutions greatly decreases the payment of interest on different debts acquired. This is why many people decide to apply for a consolidation loan.


Myth 2: there are hidden charges

False. When you apply for a loan, the conditions are in the contracts. You can check all the questions you have with a customer service agent and organize based on the payment projections that have been established.


Myth 3: there are many interests

interest rate

False. When obtaining a credit you must take into account the payment of interest for the service that the financial institution is providing you. That is why you should consider and evaluate the payment of interest before committing to a loan.


Myth 4: affect your credit record

This is partially true, but in a positive way. To maintain an exemplary credit record, you must have credits or lines of credit that show that you have discipline and ability to incur a debt and cancel it. In this way in the future you can request more credits.


Myth 5: it is only for those who have a permanent job

permanent job

False. If you work on your own and can prove your income, you can apply for a loan. You just have to fill out the form IVE (Special Verification Intendance) and register as a professional in the schools destined for it. Take into account that you must have a constant base income that can buffer the debt you will incur.

In Wide Industrial Bank we have BeEasy loans that allow you to get closer to your goals, especially if you are looking for a debt consolidation that puts your finances in order. If you want to get more information about this service, do not hesitate to contact us! Click here to apply for your BeEasy loan and don’t let money be an impediment to achieving your goals. So what are you waiting for? Contact us today and make your goals come true.