Archive May 2019

There Is No Contract Fee For Up To 6 Months} Credit Loans



We advise you to use your e-mail as your username. This Act regulates the application of crisis prevention measures and resolution tools and powers to credit institutions and investment firms if there is a risk that their financial situation may rapidly deteriorate or if it is likely that they are insolvent kuni 6 kuuni puudub lepingutasu may become insolvent in the future.

The resolution proceedings shall be commenced in the public interest if the winding up and liquidation of a credit institution or investment firm under bankruptcy proceedings does not prevent damage to financial stability and does not avoid contagion to the financial system or real economy. The provisions of the Administrative Procedure Act apply to administrative proceedings prescribed in this Act without prejudice to the rules specific to this Act and the Financial Supervision Authority Act. For the purposes of this Act, a credit institution shall also be deemed to be an investment firm and it is subject to any and all provisions applied to credit institutions, unless otherwise provided for in this Act. For the purposes of this Act, the Financial Supervision Authority shall be a resolution authority, except for the purposes of Divisions 1 and 3 of Chapter 2 and Division 3 of Chapter 3 of this Act where the Financial Supervision Authority is deemed to be a supervisory authority. 2 of this Act pursuant to the provisions of this Act and other legislation. The Financial Supervision Authority shall be a resolution authority of a consolidation group if the parent undertaking of the consolidation group is registered in Estonia and the Financial Supervision Authority exercises financial supervision on a consolidated basis over the consolidation group.

Financial Authority

Financial Authority


Financial Supervision Authority shall find an optimum balance between the achievement of those objectives in a specific situation. For the purposes of this Act, a systemic crisis means a disruption in the financial system with the potential to have serious negative consequences for the internal market and the real economy and with the potential involvement of all types of financial intermediaries, markets and infrastructure. For the purposes of this Act, critical functions mean payment and settlement services provided by credit institutions and other services or operations the discontinuance or significant disruption in the continuous operation of which damages or may damage the functioning of the financial market, financial stability or the real economy or may have a negative effect on other participants in the financial system. For the purposes of this Act, an early intervention measure means a supervisory measure that the Financial Supervision Authority may apply if the financial position of a credit institution is deteriorating and due to this the credit institution infringes or may infringe legislation, administrative acts applicable to the credit institution or internal rules of the credit institution. 2013 of the European Parliament and of the Council. A credit institution shall prepare and submit to the Financial Supervision Authority a recovery plan providing for measures to be taken by the credit institution to restore its financial position following a significant deterioration thereof.

Financial Supervision Authority a recovery plan of the consolidation group headed by the parent undertaking as a whole. Estonia exceeds 20 per cent, unless the value of the assets is below 5 billion euros. If a parent undertaking has been established in the other EEA country, the Financial Supervision Authority may require a subsidiary that is a credit institution established in Estonia and that is part of a consolidation group to prepare a recovery plan. A recovery plan shall be submitted to the Financial Supervision Authority for review.

Prior to the submission of the plan to the Financial Supervision Authority, it shall be approved by the management board and confirmed by the supervisory board of the credit institution or parent undertaking. A credit institution or parent undertaking shall review the recovery plan at least annually or after any changes to the legal status or organisational structure of the credit institution or consolidation group or an event or incident related to its business or its financial situation, which could have a material effect on the plan or necessitates a change in the plan. The Financial Supervision Authority may require that the plan be updated more frequently. The Financial Supervision Authority shall establish a term for preparing the first recovery plan. The recovery plan shall not prescribe the use of extraordinary public financial support to maintain or restore the financial position. The specific conditions for the contents and preparation of the recovery plan may be established by the minister responsible for the area by a regulation. The Financial Supervision Authority may require a credit institution to maintain detailed records of financial contracts to which the credit institution is a party.


Credit institution


Credit institution


A credit institution shall submit such information at the request of the Financial Supervision Authority. Financial Supervision Authority shall take into consideration the appropriateness of the credit institution’s capital and funding structure to the level of complexity of the organisational structure and the risk profile of the credit institution. Financial Supervision Authority shall, if necessary, consult financial supervision authorities of the EEA countries where significant branches of the credit institution are located. Act, the Financial Supervision Authority shall take into consideration the appropriateness of the consolidation group’s capital and funding structure to the organisational structure and the risk profile of the consolidation group. If the Financial Supervision Authority exercises supervision over a subsidiary that is part of a consolidation group and assesses that the subsidiary should draw up a recovery plan on an individual basis, the Financial Supervision Authority shall notify the financial supervision authority exercising supervision on a consolidated basis thereof and endeavour to reach a joint decision with it. Financial Supervision Authority shall defer its decision and await the decision of the European Banking Authority and shall take its decision in accordance with the decision of the European Banking Authority. The joint decision provided for in this section or the decisions taken by the Financial Supervision Authority in the absence of a joint decision shall be recognised as conclusive with regard to resolution authorities of other EEA countries.

Financial Supervision Authority to require a subsidiary credit institution established in Estonia that is part of a consolidation group to draw up a separate recovery plan. Where the Financial Supervision Authority identifies material deficiencies in the recovery plan or material impediments to its implementation, the Financial Supervision Authority shall notify the credit institution or the parent undertaking that those deficiencies or impediments must be remedied within two months of the date of receipt of the notification. Act cannot apply for the preparation of a simplified recovery plan. Financial Supervision Authority immediately after making or becoming aware of the changes. If the applicant has failed to submit all the specified documents or the documents are incomplete or have not been prepared in accordance with the requirements or if the specified assessment is incomplete, the Financial Supervision Authority has the power to require the applicant to remove the deficiencies.

This is the 4th Way Out of Debt that Must Be Tried


When you start to have debt arrears that cannot be repaid, of course you will certainly continue to find a way out in debt, so that the name on the BI blacklist can be cleared. This certainly needs to be done so that in the future, you can still apply for a loan, especially if it is sudden and requires a lot of fresh funds.

For this reason, let’s look at some of the debt-stricken ways you can do to get your new start immediately:


Start saving from now


Start saving from now


It cannot be denied that the way out in debt that must be done first is to start saving from now on. Begin to evaluate again the types of expenses that you usually spend each month. From here, try to see which types of expenses must be cut, and no longer need to be issued. Examples of funds to be cut are for example sports membership fees that must be paid per month because they can be replaced with other cheaper types of sports such as jogging, transportation costs to the office by online taxi which can then be replaced with the commuter line / Trans Jakarta and sharing costs with friends office, or snack costs lunch in the office canteen which was replaced by bringing lunch from home.

Later, you can allocate saved funds to start saving little by little to meet the debt repayment needs that you have to do. Even if it saves you a little, believe me at the end of the month you can see for yourself that it turns out that from the many costs being cut, you have made a total savings far greater than what you imagined!


Utilizing Owned Assets to Increase Revenue


Utilizing Owned Assets to Increase Revenue


One way to get out of debt is to use the assets you have. If you currently have assets in the form of a car or house that can be used. How to use a house for example by renting empty rooms that are not used as a monthly boarding house or daily rent. You can use AirBnB to benefit from it. In addition, you can also use the strategic condition of the house as a parking lot, especially if the location of your home is close to stations, office areas, shopping centers, schools, and other busy locations. 

Not only in terms of property, assets in the form of cars must also be utilized as much as possible. Try to see if there is an opportunity to start a shuttle business for school children around you. Take advantage of the connections that you have with fellow parents to get new customers. Another way that is also quite often done now is to use it as online transportation . This type of transportation is popular in recent years. So many people use their cars or motorbikes as online transportation media so they can increase their side income.

You can also copy this method of course. Alceste currently has a partner program with UBER , where you can enter the UBER referral code from Alceste, to get a bonus of Rp500,000 – after making 50x trips.


Following the Refinancing Program


 Following the Refinancing Program


In simple terms, refinancing is interpreted as a step to use a new loan to pay off old debt, only this new loan has provisions that are more mitigating than the old debt, for example lower interest rates. Means it’s like digging a hole to close a hole, right?

If interpreted roughly, the answer is yes. But actually the refinancing program can be the right and wise step if you are able to choose a program that is really good and not more burdensome. You have to know exactly how much interest is given through a new loan, if it’s the same or even bigger, of course this won’t help you to be free of debt.

Usually in applying for a refinancing program, a collateral will be needed (it can be a property / vehicle). Later the assets of the house / car that you submitted will be estimated, this is where you can get a new loan. So, the cash you get can be directly used to pay the remaining old arrears. In the meantime, you also have to pay off the loan until it is paid off.

How do you take part in a refinancing program like this? You can contact a consultant who helps with your debt management , to get recommendations from financial institutions that can be trusted in providing loans. Choosing a good financial institution is something that you must pay attention to, so that you do not choose the wrong interest program, and loans that can be directly used to pay the debt.


Debt Relief Program


 Debt Relief Program

The way out is getting into the fastest debt, of course, by following a debt relief program. There are 3 types of bank programs that can ease your burden in paying off debts that are still running:

One-time discount / discount

This type of relief program allows customers to reduce their total debt to smaller amounts. As the name implies, even though the customer gets a discount in his debt (generally 20-50%), they must pay directly in one payment. In some cases, this one relief program can give cardholders a discount of up to 70%.  

Extended Installments with Low Interest

Unlike the discount program in one pay, this one program is suitable for those of you who are financially less. In short, customers who have credit card arrears or KTA arrears can extend their installment tenure to be lighter, the interest earned is lower than the prevailing interest rate in general. If the normal interest currently running is in the range of 2.25%, then it is possible to get interest of only 0-2%.

Installment Discounts

Another program with this one, this type of program is a combination of the two types of programs above, namely customers get a discount and the remaining payments can be made in installments. The bank will also see the conditions experienced by the customer first. If the customer has supporting conditions that make it more difficult to pay off the debt, then it is likely that they can get this program (provided that the bank in question has the program).

To get a relief program like the three options above, you can ask for help from a company that provides debt management program services. Companies that provide debt management programs like this usually have experienced teams that are professional in helping you to strategize in paying off debt. Not to mention if you have multiple debts in various banks at the same time, of course a company that provides a debt management program can help you to formulate a strategy and decide which type of arrears must be completed in advance according to the financial conditions that you have. One of the advantages of using a company that provides a debt management program to overcome your credit card debt problems is that you can focus on finding funds to pay off debt. One company that you can use is Alceste.

Alceste international   is the first technology-based professional services company in Indonesia, which provides a debt management program. This program is designed so that consumers who are in debt, have the ability to control their finances again. Alceste Indonesia helps clients through debt management programs, specifically designed according to different needs for each client. This program is a combination of education on various opportunities to increase income and reduce expenditure, as well as conduct negotiation processes on existing bank debt requirements to reach the amount of payment that is in accordance with the ability. The Alceste Indonesia headquarters was established in Jakarta in 2015 by a founding team that has collective experience in the financial sector including debt settlement for more than two decades. Alceste made Indonesia as the center of operations as well as a blueprint for the company’s development plan to other ASEAN countries. Since July 2016, Alceste Indonesia has become the first company in Asia to get   accreditation   from the International Association of Professional Debt Arbitrators (IAPDA).