Click here to find loan companies online for bad credit
As you will see, loan companies online for bad credit do not require too many documents from the client. In this respect, they are much faster than banks, where formalities sometimes take weeks. In non-bank companies, we will go through all the procedures in a moment, and we will receive the money on the same day.
No one should be surprised by the fact that more and more people are choosing this type of solution, not just those who have been refused a loan. Customers who need cash want to have it immediately and without leaving home, and this solution can only be given to them by non-bank institutions.
Although the online loans for bad credit can often be taken literally in a few minutes, we will need relevant documents to complete the application. If we prepare them in advance, the loan application process will be completed quickly and efficiently. Here’s what to prepare before you decide to apply for payday pay.
An identity card is a basis!
All loan companies put the need for an ID card first in the list of requirements for borrowers. This document confirms not only the legal age of the applicant (i.e. the ability to perform legal acts and the ability to decide for himself), and it is also proof of Polish citizenship. Most non-bank companies do not grant loans to foreigners or persons registered outside Poland.
When completing the loan application, we will meet with questions that strictly apply to our ID card. In order to get a loan, we will have to provide the series and number of our ID documents and parcel number. It is therefore worth preparing this data in advance.
The loan is only to a bank account
Except for a few exceptions enabling the collection of borrowed money at the post office, virtually all non-banking companies require a customer to have a bank account. A personal account is needed for two reasons:
- to verify the customer’s identity
- to transfer the loan to that account.
To verify, the loan company will ask the customer to transfer USD 1 or USD 1 to their account. In this way, it will check whether the bank account really belongs to the person whose details appear on the application.
If the lender’s customer information is in line with what the bank knows, the applicant’s identity will be confirmed.
At the same time, the non-banking company will obtain a bank account number for the transferor loan granted. Therefore, it is very important to make a verification transfer only from your account. Lenders do not accept transfers from accounts belonging to, for example, two people. Such applications are immediately rejected.
You must have a phone number and email address!
You will usually receive information about granting or rejecting a loan application by phone or email. That is why it is very important to have access to these communication channels.
In the loan application, be sure to provide your mobile number (usually this is requested by the loan companies) and email address. Remember that the lender may also have additional questions for you and if he cannot contact you he will deem you to be an unreliable customer. Check your e-mail inbox and any missed calls regularly.
Are you working? Choose the source of earnings!
Loan companies often ask about the income that loan applicants receive. Often, however, the question ends and the lender does not require real confirmation of our words. In many cases, however, we will be asked for a document confirming the source of our earnings, i.e. an employment contract or pension statement. Of course, we do not send the lender the original of the above documents, but only copies.
Lenders accept various sources of income.
Therefore, before we decide to apply for a loan, let’s check whether the source of our profits is recognized by the lender as possible income.