Loans without creditworthiness are an opportunity for extra cash when it is not possible to borrow it from family or friends. In such situations, we have to decide on another form of assistance, which can be loan companies. However, most of them verify our creditworthiness. What if we get a negative assessment, where can we report and what steps to take? We will answer these and other questions in this article.
What is credit standing?
Creditworthiness – the most important when it comes to granting a short-term loan – relates to the credibility of the client applying for money for interest. In order for a petitioner to be rated positively, he must meet several conditions. They are divided into qualitative and quantitative. The qualitative analysis is to show whether the customer will pay his debts within the prescribed period. Therefore, several different variables are checked in this respect. The examination covers the age of the borrower, which determines whether he can pay back the debt in a given time (hence age restrictions). The marital status of a given person is also verified, as well as how many people live with them in the household. Interestingly, education is also subject to control. However, the most important factor when granting financial support is first and foremost – credit history.
What data, in turn, are considered during the quantitative analysis? In the course of it, information on the financial situation of the person is collected. You need to check her income every month. However, all monthly expenses and commitments are important. That is why it is more difficult for people to pay back loans. Therefore, it should be remembered that the payday loan will often be unavailable to someone who has not yet repaid other obligations to creditors.
How to check your credit standing?
One of the most popular solutions is to use the BIK system. Each of us as an individual customer has the right to receive a summary of your credit history. Just go to the Credit Information Bureau website and then click “Download BIK report and check your history”. At this point, you will be redirected to the subpage with the form, where we must provide our data, information regarding the identity document or address of residence. The next step is to verify your identity based on your ID card and make a payment for a one-time report generation of PLN 39. Thanks to this, we can not only know your financial condition from the bank’s point of view, but also check whether someone has taken out our loan data.
Where to borrow money without creditworthiness?
A loan without creditworthiness is currently a very sought after product. Only in the third quarter of 2018 (from July to August), over 33,000 unreliable debtors, i.e. those who do not pay their debts on time, arrived in the debtors’ bases. When financial problems appear in our household budget, we are looking for the quickest access to additional cash. One solution may be a loan with no capacity, from relatives. However, if you do not want to inform them about your problems, it is worth seeking help from loan companies.
They allow you to receive financial support almost immediately. A quick loan without checking your creditworthiness is quite a rare product, but you can find it. We can receive money even within 15 minutes of issuing a credit decision, all thanks to the introduction of application forms on websites and improving the verification procedure. No wonder that in the face of the financial crisis we are looking for a loan without creditworthiness.
Who can apply for loans without creditworthiness online?
Loans without creditworthiness online are a chance to receive financial support for people who do not have a good or no credit history or earnings under the employment contract. It is worth noting that the assessment of our credibility is influenced not only by entries in the debtors’ databases, but also by the income received and the form of employment. An online loan is often the last resort. That is why it is worth knowing who can apply for it.
The detailed conditions for granting loans without online creditworthiness depend largely on the lenders’ decisions. Each of them has the right to individually determine the criteria according to which he accepts or rejects the applications. However, the necessity remains:
- being at least 18 years of age, some lenders increase the lower age limit in order to eliminate the risk of late repayment,
- Polish citizenship and residence address on its territory,
- have an active phone number and e-mail address,
- owning a bank account and income enabling trouble-free repayment, which can be a loan without creditworthiness online.
What are consolidation loans without creditworthiness?
As you know, in order to receive a positive decision on a bank loan, you need adequate creditworthiness. There is also no doubt that these institutions impose more stringent requirements on their clients than loan companies. Therefore, we have no chance to receive a consolidation loan to pay back payday loans. In this case, it is worth reaching for the non-bank offer. However, please note that it is not advisable to take further short-term loans to pay back the previous ones. It may run into a debt loop. This phenomenon determines the situation when the amount of liabilities exceeds the value of our income.
Loan without capacity versus checking debtors’ databases
One of the basic tools used by lenders are datasets on the obligations of potential customers. The most popular in Poland are BIK, ERIF and KRD. It is based on the data collected there that a decision is made as to whether payday loans via the Internet will be granted or not.
Of course, many money lending companies say they don’t check the sources of information listed, but most often such promises are just a marketing ploy. It is often the case that we are verified in only one data set. This is good news for those with financial problems. In their case, there is a chance that they will be checked exactly on this list, where they do not appear as debtors. It is therefore worth trying out several different financial companies. Why? Most often, the computer system indications are only a guide for the decision maker. However, it is each advisor who decides whether he will agree to help us or not. It is often the case that the debtors include those who have not settled the ticket for public transport without a ticket. This is not always a reason to issue a negative credit decision. What should you do if you still have a refusal to pay the amount requested?
How does a secured loan work?
There are several solutions that allow you to take out a loan without creditworthiness. To make sure that the lender will not refuse to help us despite the lack of creditworthiness, we must offer him some collateral. Then he will be sure that if we do not comply with the contract, he will be able to recover his money. One of the interesting proposals in this area are car loans. Regardless of the value of our vehicle, it will allow you to get at least several hundred zlotys for very urgent needs. This is an interesting proposition for those who care about time. It is known, however, that as the value of the car increases, you can count on much larger amounts of up to several dozen or even several dozen thousand zlotys. We can also indebted against real estate, plots, etc. However, it is worth considering all pros and cons, because the decisions taken can have very serious consequences.
Home budget analysis, or how to assess your credit standing yourself
Even before visiting the selected lender, we can answer the question of how much chance we have to get the required amount. What determinants, apart from those described above, should be remembered? We need to assess whether we can afford the additional commitment. Therefore, payday loans without certificates will be easier for us if we know our monthly expenses. In general, we do not make such analyzes, and sometimes it is worth carrying out. In addition, we should set aside a certain amount every month for greater financial stability. Thus, we will build savings that will be useful in a difficult situation. Once we are aware of how much money we have after paying all the fees, we’ll find out if we can repay the loan.