Bank offers a quick short term loans.

A short-term loan is a loan, the unique condition of which is the official term of up to one year, although in practice 1 (urgent or instant loans), max. 3 months (in 90% of cases it runs). Such installment loans or so-called private loans are available at short notice. The loan amount is usually between 300 USD to 60,000 USD. An important advantage is that the amount of the cost and the term of the loan are known to the borrower from the start.

Take out consumer loans at short notice

Take out consumer loans at short notice

Short-term consumer loans – the phenomenon that is encountered in many large supermarkets and technology stores today. Short-term and microcredit are very interesting for private applicants, as they are helpful in the purchase of small items, household appliances, high-tech equipment, furniture, etc. (the loan when buying in installments). The buyer’s ownership only occurs when the last credit installment has been received.

In the case of low-value items, return or seizure with subsequent utilization is excluded. Short-term loans are sometimes the only way to be self-employed and open a small business, or to make your own dreams come true (e.g. to buy a motorcycle or a TV set).

Note:
In addition, the money can simply be “left alive” or used to pay municipal debts, for groceries, for a wedding, medical treatment / care, a funeral and other unscheduled events and events. Urgent loans are used to make urgent payments.

Interesting for companies

Interesting for companies

Short-term corporate loans present themselves as a way to briefly increase working capital to refinance existing commitments to other creditors. The variable interest rate (loan rollover) is missing. When applying for a short-term loan in the bank, all credit requirements should be met before the required amount is spent in cash.

In the case of internet banking, you can fill out the credit application as an online form and send it off immediately and secure a prompt, non-binding commitment from the bank. The basis for approval for receiving a short-term loan is the information provided by the borrower (including proof of wages and income). In 30 days after signing up, loan experts assess the borrower’s credit history, and then the decision comes – to approve or reject it.

In the case of an express loan, specialists should make a decision to grant a loan more quickly (from 1 to 15 days). At the moment there are even lenders who promise the required loan amount in the account within 5–10 minutes. The others offer the applicant a more realistic deadline of up to 24 hours.

Info:
If the credit history is “damaged”, many financial institutions will refuse to guarantee the loan, or will reduce the maximum loan amount almost to a minimum.

Credit card as a short term loan

Credit card as a short term loan

An interesting and famous type of short-term credit is the open limit on the credit card (overdraft, overdraft, credit card credit). This function allows you to withdraw money in the ATM (with, the commission 1–5%) “in the minus” and to pay with the card if there is no positive balance. Sometimes there is a grace period (1-3 months) on this card if this ″ negative ″ balance does not earn interest.

The loan amount corresponds to a multiple monthly salary if no separate loan amount is required. A regular receipt of money should be available to cover the loan.

A short-term loan is considered to be “short-term borrowed money”. In the event of non-compliance with the contract terms, much higher costs than the agreed contract amount may be incurred. And of course the short-term small loans can be paid out early without any further financial obligations to the lender.

Note:
In any case, it is advisable to realistically assess your own options and select the cheapest financial options.

A quick loan is a classic installment loan. It is granted without a specified purpose like a car loan or a construction loan and therefore serves to fulfill the borrower’s very private wishes. Fast loans are usually granted by direct banks over the Internet. Quick credit advice, processing and payment is promised and usually adhered to.

The requirements for the payment of a short-term quick loan

The requirements for the payment of a short-term quick loan

The household bill

Before banks lend to their customers, banks check the creditworthiness of the future debtor. This check is carried out with internal guidelines and the indication of the potential customer. In order to be able to carry out this assessment, the banks need information on monthly income and on existing liabilities. as well as the customer’s monthly expenses such as rent, utilities and living expenses. All of this data results in the customer’s household bill.

Note:
This calculation shows the budget surplus that can be used to calculate the rate.

Without income there is no loan

Labor income from permanent employment, pensions, pensions and child benefits are considered regular income and must be proven with the submission of payslips, proof of salary and pension notices.

Note:
In the case of the self-employed, the balance sheets, business evaluations or the tax assessment are accepted as evidence.

The Credit bureau exam

If the budget statement shows a positive value, the banks query the creditworthiness of Credit bureau. It is stored here whether liabilities already exist and whether they are serviced in accordance with the contract. No credit will be approved for negative entries.

Note:
The borrower must be 18 years old.

Sample invoice for a quick loan without Credit bureau

Sample invoice for a quick loan without Credit bureau

The following invoice can be drawn up for a loan:

  • Total loan amount (net loan amount): USD 3,500.00
  • 3% brokerage fee: USD 105.00 or processing fee
  • Interest for the agreed term: USD 603.00
  • Total: USD 4,208.00
  • APR: 11.15%
  • Borrowing rate annually: 8.87% committed for the entire term

Example calculation for a loan with Credit bureau:

  • Borrowing rate: from 4.25% (depending on credit rating) fixed for the entire term
  • APR: 4.87 – 15.69%
  • Net loan amount: USD 2,000 to USD 50,000
  • Total: USD 4,208.00
  • Contract duration: 12-84 months

As you can see, a loan with a Credit bureau query is always cheaper than the one without a Credit bureau query

What types of quick loans are there?

What types of quick loans are there?

The normal installment loan

The name installment loan is derived from the fixed repayment of the loan, which is made in constant monthly installments. The amount of the installments to be paid depends on the term chosen by the borrower when the loan is agreed. The banks offer their installment loans from 500 USD, the maximum loan amount can be 50,000 USD. The repayment is usually made in 12 to 84 monthly installments, with some banks the repayment is granted in up to 120 months.

Each borrower can decide for himself about the loan term. By extending the term, the rate is often reduced.

The cost of an installment loan is at interest of 3.9 – 12.9% pa and depends on the amount and the term of the loan. The institutes often calculate their interest based on their creditworthiness. Customers with a good credit rating get cheaper interest than customers with an average credit rating.

In addition, transaction or processing fees apply. These amount to between one and three percent of the loan amount. The APR shows the actual cost of a loan.

Mortgage loan is a form of quick loan!

A credit line is an agreed credit line that is set up on the current account or an extra account. This loan is not paid out in one sum, but is used by the customer if necessary. This gives the customer more room for maneuver. The credit can be used at any time. When the loan has been repaid, it can be drawn again. The interest on a mortgage loan is usually higher than a normal installment loan.

What are possible pitfalls

What are possible pitfalls

A quick loan involves few risks. If there is no mistake when applying, or the financial situation deteriorates significantly, there is no difficulty in paying a loan.

A risk is an illness, unemployment or a personal stroke of fate. Therefore, it is important to still have some leeway despite paying in installments and, if necessary, to repay the loan early.

What to do if you have bad credit rating?

What to do if you have bad credit rating?

If the credit rating is not the best, you can switch to the expensive Credit bureau-free loan. There is no Credit bureau query or notification to Credit bureau for these loans, and the amount granted is also limited.

For loans without Credit bureau, customers pay significantly higher interest rates than for a normal quick loan. In this way, providers secure themselves against possible credit default. Often, the interest for a Credit bureau-free loan even exceeds the expensive overdraft interest. In addition, consumers cannot freely decide on the loan amount and the duration of these loans. Loans without a Credit bureau are usually granted up to a maximum of 5,000 USD.

Current figures and interest rate developments

Current figures and interest rate developments

Currently there is the quick loan from 0.00% interest up to a double-digit range if the credit rating is not so good. The credit without Credit bureau is in the double-digit range and depends on the foreign bank that issues it. The request for a normal quick loan is usually worthwhile. Credit bureau or another scoring company is often better than you think and you save money as a consumer.

Rescue for young man’s finances – Payday loans

Many people who are just entering adulthood face more or less financial problems. Lack of employment immediately after school, constantly rising prices of many goods and unforeseen expenses mean that from time to time you need a short-term cash injection. In this case, payday loans for 18 years can be an ideal solution as a quick transfer of funds directly to the account, which can be repaid efficiently with the next cash injection.

Payday loans for 18 years – what is better than bank loans?

Payday loans for 18 years - what is better than bank loans?

The biggest advantage of payday loans for young people is the simplified decision-making system. Sudden failure of a car or computer or the need to pay bills usually means that you will need to raise money the same day. Traditional bank loans have to do with the fact that they have to pass through the analytical sieve, be supported by certificates of income from the workplace and other control activities in accordance with the procedures. Payday is a minimum of formalities and requirements.

How do you choose the best payday loan?

How do you choose the best payday loan?

The multitude of loan offers on the market means that the choice is very large and everyone will find the perfect offer. The most important for a person looking for payday loans for 18 years is the available amount and the repayment time. Some of the companies even have periodic promotions to avoid paying any fees on time. In the absence of such a promotion or using another loan, it is worth choosing the shortest possible offer, the date of which will allow you to make a repayment, and at the same time the accumulation of interest will be as short as possible. On the plaster, we have bi-weekly, monthly, bi-monthly, quarterly and even annual offers. It all depends on the planned date of the next cash injection. Generally, the shorter the period, the cheaper.

Information on this subject can be found in press advertisements, on posters and physical ads and on the Internet. In addition, you can choose a specialized payday loan comparison tool, which, after setting the amount and time, will allow you to choose the best option and show you all the costs. We have then carefully planned expenses and possible revenues.

How to apply and collect money

How to apply and collect money

Submission of the application is very easy. In the case of online payday loans, it is usually enough to show your ID card and verify your identity with a check transfer by a symbolic amount of one zloty. The automatic verification system will give us a decision within fifteen minutes and if it is positive, the transfer will simply go to our account. You can also meet with express transfers, which further reduces the lead time.

In addition to online payday loans, you can also find stationary points and mobile advisers. In this case, we are dealing with a personal presentation of an identity card. The application processing time is needed and all questions in accordance with the online form are asked by an adviser. Some of these points will pay the loan in person, others require you to provide your bank account number. However, we can always count on an express cash injection.

Banks offer a holiday credits.

The holiday season is the best time of the year. The holiday is used to relax and to use the time for things that you otherwise don’t get or don’t get enough of. However, it is far from being possible for every employee to take a vacation because a vacation can cost a lot of money. Especially when you want to travel with a family and children.

Taking out a loan for your vacation is possible

Taking out a loan for your vacation is possible

But there are ways to go on vacation without generous savings. Quite a few tour operators offer their customers the financing of their vacation through a vacation loan. With this loan, customers can not only finance the travel price. It is also possible to include the additional costs of the holiday such as travel and pocket money on site in the financing amount.

Alternatively, consumers can also finance their vacation with an installment loan from their bank. This is much cheaper and recommendable than using the overdrafting overdraft of the checking account. Here, the banks offer special loans with small loan amounts at comparatively short terms.

Note:
And in comparison to the financing offers of the tour operators, an installment loan from the account-holding bank is also cheaper in terms of conditions. A special comparison of providers of small and short loans should clarify this.

Borrowing Risks

However, every borrowing always means a limited amount of liquidity for the borrower and a risk for the lending institution. Therefore, even with a vacation loan, the potential borrower has to meet certain requirements so that he even gets the money for his vacation.

One of the prerequisites for granting a loan is to secure the loan through the disposable income of the borrower. This is evidenced to the bank by submitting proof of salary.

Besides the amount of income, it is not unimportant whether there are other financial obligations to be met through loans. These flow into the calculation for the granting of the holiday loan as much as the persons living in the household or the persons to whom the borrower has to pay monthly maintenance.

Closing and repayment

Closing and repayment

Once these things have finally been clarified and the bank signals approval of the holiday loan, the loan agreement can be signed. In addition to the loan amount, the term of the contract is decisive in advance. Since a vacation loan is a loan with a rather small loan amount, the term should also be short. After all, who wants to pay off a loan for a vacation that has long been over when the next vacation is in sight?

Note:
The loan should then be repaid in full after 12 months at the latest. If one takes into account a loan amount of $ 3000.00, which is awarded at a not unrealistic interest rate of 5%, the monthly rate is around $ 262.00. This rate should then also be available for 12 months.

If you want to treat yourself to your dream vacation, but do not have the full amount of money at your disposal, you can take out a vacation loan. This loan is a normal consumer loan with a short term. As a rule, the money is made freely available so that the borrower can use it to finance his vacation. The agreed interest rates can be fixed or variable. The repayment is made in pre-determined installments. The first installment should generally be due after the end of the vacation and not before.

The special thing about vacation credit is the collateral. For real estate or car financing, the house or car is always there for security. The bank can access this in case of problems. When it comes to vacation loans, there is nothing the bank has as security if the installments are not paid in accordance with the contract. For this reason, many financial institutions take a closer look at the financial situation of the applicant when it comes to vacation loans.

For whom is this funding option useful?

For whom is this funding option useful?

The prerequisite for a vacation loan should always be a stable and secure income, or corresponding reserves. If this is available and a longer vacation trip is desired, then the vacation loan can help to implement this wish.

If the holiday fund is to be replenished with a small amount, it may also make sense not to apply for a holiday loan, but to make full use of the disposition loan. Ev. the bank also grants an increase in the overdraft facility here. Even if the interest rate on the overdraft facility is somewhat higher, interest only accrues on the amount actually used. Each time the money is received, the overdraft facility is cleared first.

Loan amount and term of the vacation loan

Loan amount and term of the vacation loan

The amount of the loan depends on the available capital and the price of the vacation. Any extras (e.g. rental cars) should also be taken into account when applying for the amount of money. The maximum possible loan amount also depends on the applicant’s financial situation and regular income.

Note:
The term should be chosen so that the installments are real and the vacation loan is paid off until the next vacation. In most cases, a term of 12 months is real for the holiday loan. Longer terms are also not sensible because in most cases a vacation is planned again after 12 months. The loan should then be paid back.

How can the cheapest loan be determined?

How can the cheapest loan be determined?

The easiest way to compare the different providers is to use the corresponding comparison computer on the Internet. Every interested party should note that often only certain banks are compared in each comparison portal. It is therefore always a good idea to use several comparison portals. This involves a larger number of financial institutions.

When comparing on the Internet, foreign financial institutions are always included. This is not a problem within the EU. For banks outside the EU, different regulations of the respective countries apply, which everyone should look at carefully before choosing such a financial institution.

If the applicant has been a customer at his house bank for many years, it is always a good idea to go there personally. An individually tailored offer from the house bank can sometimes be cheap.

In any case, a written and binding bid must be obtained from the selected financial institutions. Often, cheap offers in the comparison portal should only be used to attract customers. If it becomes concrete, these good conditions only exist if the creditworthiness is very good.

Note:
But in most cases, this group of people does not need a travel credit. For all comparisons, always use the annual percentage rate. Only here are all costs included.

Note:
The bank almost always obtains Credit bureau information with the loan application. Every citizen is entitled to free Credit bureau information once a year. The applicant should use this before applying for a loan. Sometimes the Credit bureau data is incorrect or old entries were not deleted on time. The applicant then wonders why he cannot get a cheap loan despite his good credit rating, or the application is completely rejected.

There are also loans without Credit bureau information on the Internet. They are often dubious, too expensive and have high interest rates. In many cases, the borrower must take out expensive insurance as collateral to get the loan.

If the term of the holiday loan is to be longer than 12 months, the applicant should make sure that special repayments are also agreed.

In addition to the normal installment loan, many tour operators also offer installment payments for their trips. As tempting as it sounds, it is always important to check carefully and do the math. Payments in installments at the tour operator are often significantly more expensive than the bank’s cheap vacation loan.

The cheap vacation loan is already available today with approx. 3.5 to 4.5% APR. When paying in installments via the tour operator, 10% is not uncommon.

Think carefully about each holiday loan and check the benefits

Think carefully about each holiday loan and check the benefits

Before borrowing, it should be checked carefully whether the household budget can take this additional burden. How important is this vacation. Anyone who has been living in overdraft facility for a long time should carefully consider this step.

In such cases, it can be more relaxing to forego the vacation before you become over-indebted.

Bank offers a loan with no processing fee.

The banks offer a wide range of personal loans and mortgage loans. A wide variety of financing options are offered. In the past, a processing fee was often charged for consumer loans. This usually made up between one and three percent of the loan amount and was directly met by the amount paid out.

Legal Case law

Legal Case law

According to the latest legal case law, a processing fee for consumer loans is no longer legally permissible. Accordingly, private customers have the option of reclaiming a fee that may be charged. There was a deadline for old cases, but this has expired.

The majority of banks abide by the agreement and no longer charge a processing fee. Consumers can therefore approach the credit institutions carelessly on this point. However, this processing fee was included in the interest.

Note:
It can be assumed that the total interest amount was ultimately increased by the amount of the processing fee. So it remains doubtful whether the legislature could achieve the desired effect with its regulation.

Hidden processing fee

Hidden processing fee

Some credit institutions have found a loophole in the legal text and are charging a “non-term processing fee” instead of the processing fee. This fee has replaced the processing fee at these banks. It is now up to the consumer to decide whether the loan offered is what they want or not. Ultimately, it is not the processing fee that decides here, but the overall concept. The total cost of the loan provides information about which of the offers is cheapest.

These consist of interest and all other fees and charges included in the loan. This is irrespective of whether it is a personal loan or a mortgage. Also note the costs of providing collateral, which can be significant in some cases. Especially the land register and notary fees add up again.

Info:
It can therefore be cheaper to accept a loan, for example for modernization, with a slightly higher interest rate if the lender waives the expensive entry of the land charge.

Credit intermediary fees

Credit intermediary fees

With credit intermediaries, who mostly offer their services from the Internet, it must be ensured that they usually receive a fee. This must also be included in the total costs. These agency fees are similar to a processing fee and often amount to one percent of the loan amount, but if this is small, a fixed price is also agreed.

Some banks also agree on processing fees for repaying the loan. This is a popular source of income for credit institutions. This fee is due plus a prepayment penalty for the interest loss in the event of unscheduled repayment of the loan. Fair installment credit banks only take the processing fee and waive the prepayment penalty.

Note:
So pay attention here to the structure of the loan agreement. You can choose from a wide variety of providers.

Why are mortgage loan interest rates going down?

It is well known that, at present, they are basking in the interest rates of mortgages in Peru. For this reason, I have prepared this article, from where you signal the causes of the situation.

According to date provided by Purepoint Bank, over the past decade, the average interest rate for mortgage lending in soles has been showing a trend towards low interest rates. As of the beginning of 2011, the situation was 9.5%, although at the end of 2019 it was 7.2%, which represents a breakdown of 25% of its original value.

This trend is favorable to mortgage lenders, which implies that the current loans are cheaper today. It is decided that currently the costs that generate this type of deuda, are smaller than those that generaba in 2011.

 

Why are you bashing your home loan interest rates?

Why are you bashing your home loan interest rates?

The interest rate of a home loan is determined according to the free market, if any, by supply and demand. However, the following conditions, which are associated with the release of the free market, are those that have influenced the resulting tendency towards the market.

 

1. Purepoint Bank Interbank Reference Interests

1. Purepoint Bank Interbank Reference Interests

One of the indicators that may have the greatest influence on determining the mortgage credit interest rate is the Purepoint Bank interbank reference interest rate. This is implemented when the Central Reserve Purepoint Bank provides support for private financial institutions.

The stable economic situation that has been maintained in Peru over the past decade has caused the decline in the benchmark of Purepoint Bank interest.

 

2. International interest rates

2. International interest rates

The main international financial institutions, such as the Federal Reserve of the United States, have not had any interest in their interests. For this reason, the financial institutions of Peru have been able to access international prizes, the smallest one. In addition to the payment required by the bank, banks can offer more economical financial products to their customers.

 

3. Competence among financial institutions

3. Competence among financial institutions

In the last decade there has been an increase in the number of financial institutions operating in the Peruvian market. Therefore, there is currently the greatest competition among the same, for capturing users of their financial products.

There are a number of state programs that have impacted this competence to a large extent, in the case of mortgage credits: products generated through Fondo Mivivienda. In order to compete with them, private institutions have been under an obligation to disperse the interest rates of their home products.

 

4. Economic slowdown

mortgage loan

Some experts signal that the Peruvian economy is in the process of slowing down. This situation is generally uncertain among citizens, who are having bad reactions to request a pre-test. To encourage them, financial institutions must offer better credit conditions, including a low interest rate.

Information about microcredit.

 

A microcredit is a microcredit, ranging from one USD to a few thousand USD, which is given to small businesses and mainly in developing countries. Such loans are usually issued by specialized financial service providers or non-governmental organizations to promote development in certain developing countries.

The reason for microcredit

The reason for microcredit

The reason for microcredit is an economic principle. The repayment of these loans should be in a socially acceptable form. The microcredit issuing organizations were created as a counter-pool to the existing loan sharks that their clients exploit.

A large number of these organizations started as non-profit organizations and received government funds or private subsidies, which were then passed on to small businesses. The microcredit was then offered for the first time at current interest rates when the dollar unit was founded within Bank in Indonesia.

These organizations at that time now work as a kind of independent bank. This has also led to a significant rise in interest rates on microcredit. Interest rates of up to 20% then came about here. This led to the accusation of many development experts that these banks had taken over the business of the loan sharks.

Granting microcredit in developing countries

Granting microcredit in developing countries

Allocation to groups – group formation

Although the original idea for microcredit was to lend it to individuals, today the main business in this area is lending to groups. One speaks here of a “solidarity circle”. This is a group of borrowers who support each other. However, responsibility for repaying the loans rests with a single person. Lending practice is often carried out in such a way that the granting of a loan to a member of this group is dependent on the successful repayment of another member from this group. This creates a procedure similar to that of a guarantee.

Awarded to women

Another focus is on lending microcredit to women. In South America, some organizations link lending to borrower health care because borrower health is an important prerequisite for repayment of the microcredit. Women make up more than 75% of all micro-borrowers worldwide.

The customer contact

The customer contact

Customer contact is also an important part of microcredit. The microbank carries out a thorough review of the borrower’s business model and the bank then adjusts the repayment dates of the installments to the cash flow in the company (for monthly or weekly repayments).

The amount of microcredit

The amount of microcredit

The number of microcredit borrowers is estimated to be up to 200 million worldwide. A financing volume of approximately 70 billion US dollars is currently assumed. The number of lending organizations is around 70,000. The focus of microfinance is currently in Bangladesh and India. India is the largest market worldwide. There, the number of current microcredit is around $ 75 million.

The interest rate

The interest rate

The effective annual interest rate for microcredits is often significantly higher than the interest rate for classic loans, often over 20%. The reason for this is the significantly higher costs and the necessary intensive advice that accrues when granting microcredit.

Based on studies, however, it can be assumed that interest rates are sometimes even between 30 and 70% pa. However, there are also positive exceptions. For example, the Lite Bank divides lending into three different groups. These are corporate loans at an interest rate of 20%, construction loans at an interest rate of 8% and educational loans for higher education of children at an interest rate of 5%. In the case of microcredit, the calculation is simple interest (a so-called residual value amortization) and no compound interest is charged.

Repayment rate

repayment rate

By adhering to the rules for group formation, focusing on women and close customer contact, the repayment rate is 95% to 100%. However, this varies from country to country. According to Bangladeshi data, the repayment rate for microcredit in this country is around 65% despite the group pressure. The high repayment rates also result from many debt restructuring.

Public Service Loan – benefits of the public servants.

 

Around 4 million people work in the public service. This includes, for example, teachers, police officers or administrative employees. This group of people works directly for the state. Some of this group of people will enjoy civil service status, while others will be employed.

Benefit of thee civil service servants

Benefit of thee civil service servants

But ordinary civil servants without civil service status can also benefit from the numerous advantages that are directly considered to be civil servants. If none of these people make serious mistakes in working life, then one can hope for a life-long position in relation to the state. This starting point is only an advantage for everyone today. In times of crisis and job insecurity.

A solid and secure income will of course have a positive impact in all areas of life, so that you can live a more comfortable life, which some would wish for. Even in the event of a possible lending, people from the public service are more preferred or even desired at the banks. The existing good creditworthiness is rewarded by the fact that the bank rewards it and offers other benefits.

Civil servants can hope for a cheap loan

Civil servants can hope for a cheap loan

Loans offer very good conditions to those who are employed in the public service and to civil servants alike. Here, for example, you can count on a longer term, so that the monthly charge on the loan will hardly be felt. People who work in the public service have a very good starting position, for example to afford a property or to buy it and to finance it in the long term. Due to this positive starting position, the banks have no problem providing loans amounting to USD 100,000.

For a new car or a new possible home, some people take out a loan to fulfill these wishes. In this way you can quickly get money and put your ideas into action and do not have to save long beforehand or the like. A loan is almost always designed for the end user or, if possible, oriented so that everyone involved in the construction, such as the bank, is also satisfied.

For people who work in the public service or as civil servants, there is something like an official loan. This loan will not be available to other regular employees. The existing good creditworthiness of this target group can be assessed as good.

People who are civil servants are difficult to terminate and have a job, probably for life. Probably the employer of this professional group cannot go bankrupt either, so that the position can be classified as safe and such a starting position is ingenious for any investment or acquisition. Of course, such customers are welcome at the banks because the default rate of monthly premiums drops considerably and is virtually impossible.