Borrowing without hesitation can end up in serious financial trouble. It can lead to falling into a so-called debt loop, from which it is not so easy to get out. Below are some tips on what to do if you find yourself in such financial trouble, it’s really important to avoid getting more loans and credits. They’ll be of no use. Instead, they will increase debt and the number of creditors. That is why it is much better to try to negotiate with creditors who are already in debt. With a little willingness on their part, they will be able to agree on a repayment schedule so that the debt can be repaid slowly.
If we have fallen into a spiral of debt, it is worth checking the issues related to debt aging very carefully. It may happen that we will have some luck and it turns out that the debt has expired. In this situation, we will not have to pay it back. It should be remembered that the claim is time-barred after ten years, in the case of interest it occurs after three years.
Consumer bankruptcy is a solution that currently exists in Polish law
However, it should be remembered that the declaration of consumer bankruptcy requires court proceedings. It is possible only if the premises specified in the relevant provisions take place.
In any case, it is a good idea to try to negotiate with your creditors. Of course, they do not have to bring the expected effect, but they are a much better solution than waiting for the case to go to court, and finally the bailiff knocks on our door. There are a few rules to keep in mind when negotiating. First of all, under no circumstances should you take a claim attitude, expecting cancellation of debt. However, it is worth presenting your life situation and explaining exactly why financial problems arose. You also need to think about the amount that you can easily give back to your creditors every month.
What is a promissory note loan?
Although parabanks already provide the possibility of so-called credit holidays, such a solution is really expensive. You have to pay for postponing the repayment deadline. As a result, the loan becomes even more expensive. What’s more, the parabank may of course refuse to grant us such assistance in paying off the debt.
The biggest disadvantage of payday loans is, above all, a very high interest rate. In their case, the total annual interest rate is much higher than for classic bank loans. What does this mean for the borrower? To the parabank you need to return an amount definitely greater than the one we borrowed. That is why it is so important to approach the amount of money borrowed carefully. You should seriously think about whether we can pay off the debt.
Chwilówki are so-called quick loans, whose popularity is increasing every year. More and more people who do not have a chance to get a bank loan are borrowing money in a so-called parabank. Chowówki have a number of advantages that make them popular. However, it should be remembered that extreme caution is recommended with them. Otherwise, you can quickly fall into a debt loop, from which it can be very difficult to get out. What to watch out for if you decide to take a payday loan?
Late repayment is an element of payday payday, which can translate into significant costs. Everyone who decides to take a payday loan should know that not paying the installments on time is really high interest. As a consequence, we will refund a much larger amount to the parabank than the one we decided to borrow. For this reason, it is important for payday loans to ensure that each installment is repaid on the date agreed when signing the contract. This will avoid significant additional costs.
At What Bank No Credit Certification?
Loan companies by far the most often verify the identity of their clients on the basis of the identity card provided. The loan application must include the series and ID number. It is often necessary to make a photocopy of a document, which is then attached to the application. If we take out a loan using the Internet, we must provide a scan of your ID card. However, this can be done via email.
Parabanks use verification not only with the use of an identity document and bank transfer, but also with a special application. To confirm your identity, you must log in to your own bank account. The application will download all the data that is needed to properly carry out the verification process. Lots of people will ask here if this solution is not risky. It should be emphasized that such applications have an extensive security system. Therefore, you should not be afraid that our data will go to the wrong people.
Everyone who has to borrow money would like the loan decision to be made right away. Meanwhile, the borrower must be patient. In the case of parabanks giving so-called payday loans, everything is really fast. Let’s see what customer verification methods are currently used.