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FAQ


  • What is Terra Credit?
    “Terra Credit” Ltd. is a non-banking financial institution, specialized in lending fast personal loans which are easily accessible to all people. Terra Credit offers mainly small, unsecured personal loans (between 100-2000 BGN) for terms from 10 to 52 weeks or 3 to 12 months, depending on the credit product. The loan is paid through pre-agreed fixed installments each week or month, according to a repayment plan. These installments include principal and interest. The company does not charge any additional fees or commissions other than those provided by the agreement.
  • Why do the personal financial advisors require so much information about the borrowers?
    “Terra Credit” Ltd. also offers loans without guarantor and nomortgage. The decision of granting a loan is solely based on the information received from the customer. The more information submitted, the clearer and moreprecise it is, the easier and faster it will be for our software products and Loan Officers to determine the optimal choice for every customer and this will increase the possibility that you will be granted the desired amount.
  • What happens with all the acquired information?
    “Terra Credit” Ltd. is a data controller under the Data Protection. The company fully complies with the requirements of this Act. We do not use the received information for any other purposes, except for taking decisions to lend or not to lend the desired loans. Our employees are discreet and respect the wishes and rights for confidentiality and strict protection of all data obtained in the application process.
  • Can I apply for a loan again if a previous application has been rejected?
    Yes, you could apply for a loan countless times. To reapply after refusal, something has to have changed in your economic or social status (for example some expenses have dropped, you have extra income, a new job, etc.).
  • How will I know if I am approved for the grant of a loan from Terra Credit?
    Response to the loan applications is received within an hour in the office where you submitted the application. Our credit consultants will tell you our decision.
  • How can I apply?
    You can apply at any of the offices of Terra Credit nationwide or you can arrange a meeting with one of our mobile credit consultants at a timeof your convenience. All necessary information will be filled by our credit consultants for you. They can calculate the installment of your desired loan and the maximum amount of funding that you can be grantedon the spot. The credit consultants who sell our credit products, will offer you the most suitable loan and repayment schedule according to your needs. For these services and loans granted, you do not owe any other fees, except for the ones announced by Terra Credit and entered in your loan agreement.

    If the information you provided is correct and genuine, you will receive a reply within an hour after your application.
  • Fees and commissions
    For loan request consideration, you pay a fee of 5 BGN. This fee covers part of the expenses which occur after your application. If your application is approved, you will be charged a performance bond to the amount of 3.5% of the approved loan amount and document processing fee of 5 BGN, because we are obliged to safeguard your documents in a special room for at least 5 years after your application. For the remaining term of the loan, there are no other commissions for credit management.
  • What are the conditions for obtaining a discount?
    Repaying your loan installments without delay suffices and at its completion you will receive a discount of up to 50% of the amount of the last installment you have to repay.
  • Where can I pay my installments?
    You have the ability to pay your installments in the office of Terra Credit, where you were granted the loan. If you are not available to visit our office, call 0700 17 787 where you can receive help on how to make your installment in the easiest way.

    In your repayment planthe exact date by which your payment must arriveis specified. If this is not during a work day, the payment must be received during the previous working day. If another person deposits your installment, it is important to know thereference number of the Agreement according to which the payment is made or the PIN of the borrower.

    Examples:

    For Terra mini/maxi
    - if you have mastered the loan on 01.07.2012, the first installment must be paid until 08.07.2012

    For Terra 30
    - if you have mastered the loan on 1.07.2012, the first installment must be paid until 1.08.2012
  • How may I get report on my loan from Terra Credit?
    You may receive information about your loans from Terra Credit at 0700 17 787, or in the regional office where the loan was granted. If you need a certificate that the loan is repaid, you can call the same telephone number. Formal written notes on pending loans are issued for a fee of 10 BGN.
  • How do I repay my loan granted by Terra Credit before the time?
    At any given time, you can repay the entire loan before the time without owing any interest or fees, other than the due principal and interest.

    You can repay your loan before the time by filling an Application for early repayment at the office where you were granted the loan. It is absolutely free and you only repay the loan amount currently due. There is no fee for early repayment!

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