Don’t worry we combine payday loans into one
Poles are eager to use financial products available on the market. Attractive loans and advances encourage you to borrow money. Unfortunately, sometimes repayment difficulties may arise. Then it is easy to fall into debt, which will increase day by day, and a bailiff will knock on our door.
Why consolidate payday loans? If we are unable to pay back the debt and the bank refuses to grant a consolidation loan, it is worth considering the option of using a payday loan consolidation https://www.paydayloanhelpers.com/why-consolidate/ for those in debt. When is it worth taking a loan and when is it better to cancel it? We know what to look for.
Statistics from 2018 indicate that the total debt of Poles is close to $ 70 billion. Compared to GDP (gross domestic product), it is about 9% of this indicator, so very much. Poland is high in the ranking of indebted European Union countries.
Living on credit and the lack of an appropriate financial pillow in the form of savings or other security is the everyday life of many Polish families. Most often, we fall into debt as a result of adverse random events, e.g. loss of a job, sudden illness or other unexpected expenses that are beyond the current financial possibilities. On average, eleven out of a hundred borrowers have problems with timely repayment of their liabilities.
Statistical data from the National Debt Register say that the inhabitants of smaller cities are in debt most often. The percentage of indebted persons in the total number of inhabitants in smaller cities is 11%; in large cities – 6%, in the countryside – 3%. The largest number of debtors live in the Pololaskie and Wunkopolskie voivodships. External sources of financing are more often used by men than women. People aged 36 to 59 have the largest number of repayment obligations.
The accumulation of all these factors causes that Poles are increasingly losing their creditworthiness. Banks refuse to grant them traditional loans. In most cases, the only option may be a non-bank loan for those in debt.
Ways to get out of debt?
What to do when we get into debt? First of all, keep calm and think about how to overcome this difficult situation. Below are some ways that can help you to solve a household financial crisis.
- Negotiating debt repayment terms – creditors are often willing to agree to the repayment terms favorable to the borrower, in most cases the debt can be divided into convenient installments.
- Consider taking a loan or consolidation loan – then several loan installments will be replaced by one installment of a lower amount.
- Finding an additional source of income that will allow you to pay off your debt faster – it could be distributing leaflets, delivering pizza at the weekend or other odd jobs. The way out can also be to raise your qualifications in order to find a better-paid job.
- Saving – sometimes you just need to replace more expensive products with cheaper counterparts or give up shopping for unnecessary things to get a fairly large sum that can be spent on paying off debt.
- Declaration of consumer bankruptcy – people who have fallen into such a large spiral of debts that there is no real chance of their repayment, may consider the possibility of submitting an application to the Court for consumer bankruptcy. An application for bankruptcy proceedings should, however, be a last resort because it binds, inter alia, with the liquidation of all or a significant part of the consumer’s assets.
After paying off your debt, you should look for ways to avoid financial problems again. It is best to regularly save a certain, even a small amount of money, which in the future will be a financial pillow for the so-called rainy day. Talking with a financial advisor, for example, can help you choose the effective saving method.
Advantages of payday loans – who is the most willing to use non-bank loans?
Non-bank loans offered by loan companies are an alternative to traditional loans granted by banks. According to experts, the dynamic development of the non-bank loans sector was influenced, among other global financial crises. Consumers lost their creditworthiness, which resulted in the search for other sources of financing. The emergence of non-bank loans has allowed many people to raise additional cash to achieve various goals.
Therefore, non-bank loans offered by reliable entities have become an attractive alternative to bank loans. What’s more, their granting does not require meeting a number of different conditions, and the money can be received on the account even several minutes after submitting the application. The application can be submitted without leaving your home – quickly and conveniently online. Many loan companies offer a so-called door-to-door, i.e. delivery of money by a representative directly to the lender’s home.
Most lenders do not require any income certificate, only a scan of proof and a symbolic transfer of 1 penny or 1 zloty to confirm the identity of the person applying for a loan.
Funds obtained from non-bank loans for debtors are often allocated to repayment of other liabilities. In many cases, non-bank loans for indebted people are the last resort that can protect against the severe effects of over-indebtedness.
Non-bank loans for those in debt – what is that?
Non-bank loans are becoming more and more popular. Already every fourth financial liability is a liability incurred in non-bank loan companies. Debt is not only unpaid loan installments or loans but also cessation of payments for the purchase of installment equipment, subscription for television, telephone and internet services, as well as electricity, water, and gas bills.
Non-bank loans for indebted people are a financial product that was created for:
- having difficulties in paying off current liabilities
- having a negative credit history in BIK and BIG
- having obligations, which are enforced by the bailiff
People who have debt may have big problems getting a loan from a bank. A negative credit history cancels the chances of getting this type of financial support. A consolidation loan combining several liabilities into one can be a sure solution. However, banks do not always provide solutions to this problem. In such cases, the only solution seems to be a non-bank loan for those in debt.
The basis for granting a non-bank loan for the indebted are receipts to the account of the potential borrower. Therefore, the lack of an employment contract does not preclude the possibility of receiving financial support. Loan companies take into account various sources of income – from pensions, through family benefits (e.g. 500+ benefit), to maintenance. Most often, lenders do not require any income statement. Usually, a statement from your personal bank account and an ID card scan are sufficient. Thanks to this, the procedure for receiving money is significantly shortened.
Non-bank loans for the indebted are also in the form of non-bank loans with a bailiff. People who have been bailed by a bailiff can pay off their outstanding liabilities in this way. However, it should be taken into account that the funds that will reach the bank account will be immediately seized by the debt collector. Borrowers who want to receive cash in their own hands can use the services of loan companies paying out loans using the GIRO check – at a post office.