Illness, accident, job loss are just a few examples that can cause a bad budget for your home. We have no influence on many of these elements. They come to us suddenly and without asking. And what if, apart from worrying about the disease, we have loan companies on our minds that are pursuing us with debt repayment? During this time, we are either unable to pay off the debt and the problem is getting even bigger, or we are applying for more loans to pay back the previous ones. Even if we do not have loans, we are often so indebted that we have no chance for cash in banks or parabanks.
We can often find slogans that attract many people in financial difficulties. I grant a loan at a percentage, which is saved by a lot of people who have not received additional funding from banking or loan institutions. Being indebted in the BIK, KRD database or having a bailiff, there is unlikely to be a positive acceptance of our loan application. The solution for these people are private loans for debtors granted as a percentage.
Private loan and payday loan
Many people confuse these concepts, so we will try to explain in simple terms how they differ. The main difference is the fact that payday loans are provided by a non-bank company, and private loans are money from private creditors. The payday loan is usually for a small amount with repayment up to 30 days, while private loans can also be for a small amount but the repayment period is usually tailored to each client. We do not leave anything in the online loan, and in private cash our apartment or car is often our security. Lenders often check their clients in debtors’ databases, while private creditors do not.
It is relatively easier to get a private loan than payday loans. But we must remember about the high risk associated with it. Loan companies have behind them a team of lawyers who care about the good of two parties, this is unlikely to happen when borrowing money from private individuals. Of course, it’s not like a private loan contract is created “on your knee” – no, it is also drawn up by specialists, but it is usually in favor of the creditor rather than the borrower. People who borrow their own cash need more security in the event that their client defaults.
Interest loan – is it worth it?
Despite the high risk associated with the interest rate loan, it is very popular. Most online loans are similar to each other. The first free, low amount of the first loan, etc. Private loans are more tailored to individual customer needs. We do not have to fill out many documents and provide various certificates. The loan period is also what the customer wants or is close to the demand. An interest rate loan is more expensive than non-bank cash, but that doesn’t stop customers from getting it.
Loans for the unemployed
It is worth mentioning that private loans are largely taken up by the unemployed. Thanks to the fact that no documents from the workplace are required, this offer is ideally suited for people without work. Even those who have a bailiff have a chance of positive approval when applying for a private loan.
Watch out for scammers
Due to the fact that private loans are not regulated by financial institutions (only by the Civil Code) we can face an attempt to deceive us. The most common are prepayment fees, which are supposedly “required” when receiving a loan for interest. Let’s watch out for offers like “I will grant a loan for interest” because we can be very disappointed. Let’s read the contract carefully, because it will not be standard as in the case of online payday loans. Looks at all costs, insurance, collateral, etc. Let’s look carefully at the total cost of the loan, but let’s be aware that it will be larger than with payday loans online.
Let’s borrow with care and risk awareness. Some people don’t care, and they fall into a spiral of debt. Let’s say it again, the interest loan is very risky and expensive. It is better to look for offers from reliable companies before taking this form of financing. Below are some of them that can help you receive money: