Borrowing indefinitely can eventually lead to considerable financial problems. It can lead to entering the so-called debt loop, from which it turns out to be more difficult than it might seem. Below are some tips on what to do if.
If we are in a debt loop, it is worth checking the issues of debt aging very carefully. It may happen that we will have some luck and it turns out that our debt has expired. In this situation, we will not have to pay it back. It is worth remembering that the claim will be time-barred after ten years, and interest after three years.
Consumer bankruptcy is a solution that has been in Polish law for some time. However, it should be remembered that the declaration of consumer bankruptcy is a court proceeding. It is possible only when the premises specified in the relevant provisions take place.
Negotiate with the creditor
In any case, the solution worth choosing is to try to negotiate with the creditor. It must be remembered that they do not have to bring the expected effect, but they are a much better solution than waiting for the case to be in court and a bailiff will finally knock on our door. There are a few rules to keep in mind when starting negotiations. First of all, you should never take a claim while waiting for your debt to be canceled. It is good, however, to present your life situation and explain exactly why financial difficulties arose. You should also think about the amount that you can pay monthly for the debt.
In the case of a debt loop, it is 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. Therefore, an attempt to negotiate with existing creditors is a much better option. With a little good will on their part, they will be able to agree on a repayment schedule that will allow them to gradually reduce their debt.
Which bank has the cheapest cash loan?
Among the loans currently generating great interest are, among others, so-called payday loans. They are given by parabanks, which are more on Polish. Few people know, however, that their offer is not only payday loans. Below we present what we can count on when deciding to take advantage of the parabanks offer.
Parabanks are constantly expanding their offer. Currently, these are not only payday loans, but also installment loans granted for higher amounts and longer periods. This is a sensational choice for people who need a much higher amount of money, and at the same time have no chance of getting a traditional bank loan. Such a loan is currently even thirty thousand zlotys. What loan period can you count on? It depends of course on the lender, but you can bet for up to four years. When deciding on such a loan, you need to consider the potential costs that you must incur in connection with it.
Payday loans, i.e. short-term loans, are of course the most popular product of the non-banking financial market. Their name is not accidental. They are given for a really short time. Most often, the loan period in their case ranges from a few to a maximum of sixty days. In the initial period of existence, non-bank companies offered their clients loans for a short time and a really small amount – generally they did not exceed USD 1,000. Currently the situation is definitely different. As for payday loans, you can count on a loan of up to six thousand zlotys. The lowest amount generally offered by parabanks is fifty zlotys. It should be added that a lot of parabanks encourage customers to use their services by offering a free loan. What does it mean? There is no interest rate on the first loan. Thanks to this, we will refund exactly the amount that the parabank lent us.
Which bank has the cheapest cash loan?
While the ID card is a document that is necessary in every case, only some lenders require a certificate of employment and income. It is usually the case that people borrowing money from a parabank 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 means that the road to it is not closed for people who do not work legally.
Lending companies include those that expect a client to provide a bank statement for the last few months. This statement is an alternative to your earnings certificate. The statement confirms that we receive regular payments to the account. It also shows how much we spend per month.
Most people who want to take advantage of the parabank offer are looking for a loan that only requires an ID card. As it turns out, among the so-called parabanks there is no shortage of companies that borrow money by presenting only an ID document. This document confirms personal data and citizenship, i.e. information without which money cannot be borrowed. It should be added that today more and more companies allow the possibility of granting loans via the Internet. In this case, you do not even need to appear in the branch of the company to present your ID card. You can scan it and then send it by email.
Fast Loans are quick loans, which are handled by so-called parabanks. Today, such companies can be found in almost every city. They are very popular, primarily because the formalities to be completed when taking payday loans have been kept to a minimum. Therefore, many people ask the question what documents are needed for a parabank to grant us a loan.