Borrowing without hesitation can eventually lead to considerable financial problems. It can lead to falling into a so-called debt spiral, from which it is not so easy to get out. Here are some tips on what to do if In any case, the remarkable solution is to try to negotiate with your creditors. Of course, they do not have to bring the expected effect, but they are definitely a better solution than waiting for the case to go to court, and finally the bailiff knocks on our door. When starting negotiations, there are a few rules to keep in mind. First of all, you should never take a claim attitude, raising expectations of debt cancellation. However, it is good to present your life situation explaining exactly why such serious financial difficulties occurred. You should also think about the amount we are able to pay to your creditors’ account on a monthly basis.
Consumer bankruptcy is a solution included in the current 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 the case of a debt spiral, it is very important not to take further loans or credits. They will not help in this situation. Instead, they will increase debt and increase the number of creditors. That is why it is much better to start negotiations with creditors who are already in debt. With a bit of desire on their part, it will be possible to agree on a repayment schedule that will allow for gradual reduction of debt.
If you have fallen into a spiral of debt, you should carefully check the issues related to limitation of debt. Perhaps we will have a bit of luck and it turns out that the debt has expired. In this situation, paying off the debt is not an option. It should be remembered that the claim is time-barred after ten years, while interest only after three years.
In the vast majority of cases, parabanks that provide payday loans do not expect the person interested in borrowing money to present a certificate of employment and earnings. This means that payday loans are available to people working without a contract or employed under civil law contracts. For banks that grant loans, this simplified procedure is not an option at all. Therefore, a lot of people don’t have the slightest chance of getting a loan, even though repayment would not be a problem.
Payday loans have a growing number of supporters. This is not surprising when we look at the advantages of this type of quick loans. Let’s see why it is worth to bet on payday loans and in what respects it is better than classic loans granted by banks.
Speaking of payday loans, one cannot forget that in their case the credit decision is taken almost instantly. Most parabanks that deal with providing payday loans make a credit decision within no more than an hour. Thanks to this, a person who needs money gets it very quickly.
Payday loans are the minimum formalities that must be completed. Thanks to this, borrowing money does not require spending a large amount of time to collect the necessary documents, fill out complex applications, etc. Everything is done very quickly and efficiently, which is a great advantage of this type of loans.
While the ID card is always a required document, only some lenders require a certificate of employment and income. It is usually the case that people who decide to take a payday pay do not need to submit any documents other than an identity document. This significantly shortens the procedure for applying for a loan, and at the same time makes it within reach of those who have no chance of a bank loan because they work black or on a so-called junk contract.
Lending companies include those that expect a client to provide a bank statement that includes the last few months. Such an extract is an alternative to the traditional income statement. The statement confirms that we receive regular payments to the account. It also shows how high our monthly expenses are.
Payday loans are quick loans that are provided by so-called parabanks. Currently, such companies can be found in almost every city. They are very popular above all because the formalities to be completed when taking payday loans have been kept to a minimum. Therefore, the question arises as to what documents are needed to be able to think about getting payday pay at all.
A significant proportion of people who want to take advantage of the parabank offer are looking for a loan that will be granted only upon presentation of an ID card. It turns out that among the so-called parabanks, there are plenty of companies that actually borrow money only on presentation of their ID card. This document confirms personal data and citizenship, i.e. information without which it is not possible to grant a loan. It should be added that nowadays more and more companies grant loans via a global computer network. In this case, the borrower does not even have to appear in the branch of the company to present an identity document. Just scan it and then send it by email.