What to do with credit in a crisis?

The likelihood of a financial crisis in 2022 is estimated to be very high. The coronavirus pandemic, which has swept virtually the entire world, has seriously affected the global economy. The consequences of the epidemic have affected the entire production chain. The negative scenario is also indicated by the observed slowdown in retail lending due to stricter lending conditions.

Experts do not advise taking loans during a crisis, especially if the lending conditions are not the most favorable. During periods of crisis, the risk of layoffs and layoffs always increases, resulting in the inability of the borrower to fulfill its obligations to the bank. To a certain extent, loans for the purchase of expensive things - equipment, cars, furniture, real estate - can be justified. You should not buy high-tech goods on credit - smartphones, tablets and other gadgets. Also read Credit 9 Lending Reviews and consult with this company about a loan in a crisis and what the consequences may be.