Late repayment is an element of payday payday, which can translate into significant costs. Everyone who decided to take a payday loan should know that not paying the installments on time will incur high interest. As a result, we will give a much larger amount to the parabank than the one we decided to borrow. That is why it is so important in the case of payday loans that each installment is repaid on the agreed date. This will avoid significant additional costs.
Chowskiso are so-called instant loans
Which are becoming more and more popular every year. More and more people who have no chance of getting a bank loan decide to borrow money in the so-called parabank. Chowskiso have many advantages, which make them popular. However, it should be remembered that extreme caution is recommended with them. Otherwise, it is very easy to fall into a debt loop from which it is not so easy to get out. What to watch out for when you pay for payday pay?
Admittedly, parabanks offer the possibility of so-called credit holidays, but such a solution is really expensive. You have to pay for postponing the repayment deadline. As a result, the loan becomes slightly 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, high interest rates. The total annual interest rate is much higher for them than for traditional bank loans. What does this mean in practice? We need to return an amount much larger than the one we decided to borrow to the parabank. That is why it is so important to approach the amount of money borrowed wisely. You should seriously think about whether you can afford to pay a certain debt.
Where can you get a loan without a loan?
Taking out loans without thinking can lead to very serious financial problems. It can lead to entering a so-called debt spiral, from which it turns out to be more difficult than it might seem. Below are a handful of tips on what to do if, at some point, you have fallen into such a debt loop, we have fallen into a debt loop, you should carefully check the issues related to debt aging. It may happen that we have a bit of luck and it turns out that our debt has expired. In this situation, we will not have to pay it back. It must be remembered that the claim is time-barred after ten years, and interest after three years.
In the case of a debt spiral, it is very important to avoid borrowing more loans and credits .. They will not help in this situation. Instead, they will increase debt and the number of creditors. Therefore, it is a much better solution to negotiate with existing creditors. With a little willingness on their part, they will be able to work out a repayment schedule so that the debt will gradually decrease.
In any case, the solution worth choosing is to try to negotiate with the creditor. Of course, they do not have to bring the expected effect, but they are definitely a better solution than waiting for the case to be in court and a bailiff knocking on our door.
There are a few rules to keep in mind when negotiating
First of all, you should never take a claim while waiting for your debt to be canceled. However, it is worth presenting your life situation explaining exactly why financial difficulties arose. You should also think about the amount that you can pay monthly for the debt.
Consumer bankruptcy is a solution that currently exists in Polish law. However, it should be remembered that the declaration of consumer bankruptcy is connected with court proceedings. It is possible only if there are premises strictly defined by law.
Loans without secrets
Loan companies generally verify the identity of their clients using the identity card provided by them. The loan application must include the series and ID number. In some cases it is necessary to make a photocopy of the document, which is then attached to the application. If we take out a loan using the Internet, we are required to provide a scan of your ID card. However, this can be done via email.
Parabanks use verification not only with an ID card or bank transfer, but also with a special application. To confirm the identity of a potential customer, you must log in to your own bank account. The application will automatically download all data necessary for the verification process. Lots of people will ask here if this solution is not risky. It should be emphasized that such applications have very extensive security. Therefore, you should not be afraid that our data will go to the wrong people.
Verification using a bank transfer
This verification method works great for payday loans. The person who submits the application is required to perform the verification transfer. Importantly, this transfer must be made from an account that we own. It serves to confirm our identity. So if it is made from another person’s account, it will be useless. The lender will only start processing the application once the transfer we have made reaches his account. No transfer is an inability to grant a loan.
Everyone who is forced to borrow money would like to make the loan decision almost immediately. Meanwhile, the borrower must be patient. In the case of parabanks dealing with the provision of so-called payday loans, everything is really fast. Let’s see what customer verification methods are available.