Search for short-term non-bank loans, which means a quick search for a company and an online loan.
A non-bank cash loan in the light of applicable law is a consumer loan if its value does not exceed PLN 255 550 or the equivalent amount in a foreign currency.
Of course, no non-bank pay-offs are granted for such amounts. They are usually not more than PLN 5,000.
What are the consequences of qualifying such loans for consumer loans?
When a cash loan agreement is concluded, the provisions of the Consumer Credit Act apply to it. Consequently, borrowers have consumer rights, and certain loans are imposed on companies providing such loans.
Non-bank payday loans are granted to people who have problems getting a bank loan or are looking for a quick loan. The latter factor makes the loan companies’ offer also used by people who have sufficient creditworthiness to get a loan from the bank.
An alternative and a cheaper option for people with creditworthiness and using loan companies may be a limit on your account or credit card.
Non-bank loan and financial problems
Loan companies use less stringent rules to assess a client’s creditworthiness, and therefore bear a greater risk of a “missed” loan.
At first glance, less complicated procedures are an advantage – faster and easier to get a loan. However, this can only be an apparent and short-term advantage. If we misjudge our financial capabilities, we increase the likelihood that we will fall into the “spiral of debt”. Because in the case when we can not repay loans in a loan company on time, and we do not have a chance for a bank loan, we take another loan from another loan company to pay off the existing one. An additional loan is an additional cost.
How does it look in practice? If the first loan amounted to PLN 1000 + costs PLN 250, then the total loan is PLN 1,250. In another loan company, we have to borrow PLN 1250 to give back in the first one. The second loan is also PLN 300, which means that we have to pay PLN 1,550. And we borrowed only 1000 zlotys …
FINANCIAL BANK SEARCH
We only use proven loan companies if we are looking for a payday or a non-bank installment loan.
A non-bank loan is expensive. There is no point in taking an additional risk of losing money or collateral, borrowing from an unverified company.
Search engine and comparison tool for non-bank loans makes it easier to search for a specific loan with given parameters. With the help of sliders, we can determine both the value of the payday loan and the period for which we intend to borrow. The most popular loans on the internet are loans from PLN 50 to PLN 2,000 for new clients. In most loan companies, the first loan limit is set at PLN 1000 – PLN 1500. The period for which we can borrow is usually from 5 to 30 days. But there are exceptions, of course, such as an installment for 2 months or a one-time payment after 45 or 60 days.
After choosing a loan company in the search engine, you can check the details of the loan on the website of a particular company. You will get acquainted with the framework agreement, regulations and apply for a loan.