Over the past few years, the non-bank loan market has undergone a fundamental metamorphosis. A large number of companies have failed to cope with the changes introduced by the amendment to the Anti-usury Act, in force since 2016. Radicalized rules for granting payday loans by non-bank companies – including loan cost limits and maximum interest rates, proved to be unachievable for almost 17 percent of loan companies that fell out of the market. However, there is nothing wrong with it!
Contemporary Financial Market
Currently, non-bank loans are growing in strength, becoming more and more competitive for the banking sector. The increase in public confidence in this type of financial products, resulting from the introduced statutory changes, has increased the share of non-bank loan companies on the credit market. Thus, the banks’ monopoly on consumer loans is gradually being reduced, despite the fact that payday loans are still higher than the cost of bank loans. For the benefit of online loans granted by private sector firms affected but their greater availability and the absence of the need to comply with strict legal requirements, against which the banks can not escape.
Fast loan online
The advantage of online loans is also the use of modern internet technologies , thanks to which borrowing money from loan companies boils down to completing the online application and receiving a loan decision, often really quickly and in fact without tiring formalities. The financial market in terms of non-bank loans was worth PLN 4.3 billion in 2017, and loans were used by over 3 million customers . Quick loans are therefore becoming more and more popular. How to borrow to use all the benefits of payday loans and enjoy financial support tailored to our needs and capabilities?
Lending money wisely
In addition to the change in the functioning of loan companies, there is also a noticeable increase in financial awareness among borrowers. Today, consumer borrowing is more thought-out . Of course, this is due to the fact that loan companies have begun to analyze their clients’ financial standing more carefully, because it is in their interest not to lend money to people who are unable to give it back. On the other hand, borrowers already know how important it is to build a positive credit history that effectively increases their creditworthiness. And there is no better way to do that than paying your debts on time – including payday loans online. What characterizes sound money lending? It is primarily:
By following the above rules, you can be sure that your loan will be safe for you . Payday loans can be a fantastic solution in emergency situations and temporary financial problems, but only when they are contracted in a completely reasonable way. Otherwise, it is very Diffy to fall into a spiral of debt, from which it is not so Diffy to get out – especially when you avoid agreement with a loan company. And how can you make payday loans online more profitable for you?
The first payday for FREE – how much do we save?
Of course, the most attractive loan offers available on the market include free online loans. Unfortunately, we can usually take advantage of this promotion only once, when we are a new customer of a loan company. It is worth remembering that not all companies have a promotion that includes the first payday loans for free. Diffy Credit is one of the lenders who offer this type of loan up to PLN 1,500 for up to 30 days. Depending on the amount of payday pay for free, we can save a lot of money. How much exactly
Another payday loan is already interest-bearing, but more and more often loan companies are organizing special discounts and promotions for their regular customers, which significantly reduce the cost of payday loans.
Payday loan without creditworthiness – is it possible?
And what about the payday loans without creditworthiness? Can you actually get such a loan? In the case of non-bank chwilówek a key element in the assessment of the creditworthiness of the borrower is whether he has the income to enable secure repayment of the loan. If customer verification shows that this is the case, then the issue of e.g. negative credit history, which reduces creditworthiness, may be slightly less important than in the case of bank loans. Therefore, if you have a steady income that allows you to pay back the loan, then there are loan companies that can turn a blind eye to your negative credit history. In such a situation, it is good for the income to come from:
Payday payday late
When you are looking for the right payday loan for yourself, you should familiarize yourself with all the terms of the loan. Also what the consequences are if the loan is not repaid within the prescribed period. Some companies offer their borrowers extended repayment terms, but this often involves additional costs . It is also possible to refinance the loan. However, each lender determines individually how they can offer their clients repayment of the loan after the deadline.
Regardless of the situation, you should always notify the lender about problems and try to settle the matter amicably , avoiding even more unpleasant consequences, such as entry into the database of debtors or debt collection. And if the problem with repayment is due to having more loans, the total amount of which exceeded our financial capabilities, the solution may be consolidation of payday loans. First of all, remember not to hide your head in the sand and look for solutions to your problems. Loan companies also want to communicate with the borrower and find the most optimal way out for all parties.