Life in Debt: How the US credit system works
How to get a loan in the United States? And what happens if you don't pay it? Says the correspondent of “Vesti FM " Andrey Khokhlov. To take out a loan in the United States, you need to open an account with an American bank and get a social security number – it is asked here almost more often than a passport. It can also be obtained by non-residents of the country, if they have a work permit or they only want to get the right to work legally in America. As proof, the status of an intern or exchange student is suitable. Another option is a green card or buying a property. If you have any of this, you can enjoy all the benefits of the US credit system. Many of our compatriots are delighted with it. I especially like the rates on loans, says blogger Anton Zanin. ZANIN: Credit in America is the thing that people don't live here without. The loan here is very affordable, you pay almost no interest, that is, if we are talking about some big purchases like a car, a house, well, you pay 1% there. I know a person who pays 1.5%, he took out a loan for 6 years. I came to buy a car at a car dealership, and they sold it to him for half an hour on credit for 6 years. The credit history here plays a decisive role not only in the issue of taking out a loan, but also in matters of employment and obtaining other privileges. It is also called “financial reputation " there. Without it, you may not be hired, it is required when connecting electricity, buying insurance, a cell phone – yes, almost everywhere.