If you are in a debt loop, you should check the debt limitation period very carefully. Perhaps we will have a bit of luck and it turns out that our debt has expired. In this situation, paying off the debt is not an option. It should be remembered that the claim is time-barred after ten years, while interest only after three years.
In the case of a debt spiral, it is important not to take further loans or credits. They will not help in this situation. Instead, they will increase debt and the number of creditors. Therefore, it is a much better solution to try to negotiate with creditors who are already in debt. With a little good will on their part, it will be possible to set a repayment schedule such that debt is slowly repaid.
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 requires court proceedings. It is possible only when the premises specified in the relevant provisions take place.
Borrowing without hesitation can end up in serious financial trouble. It can lead to entering the so-called debt loop, from which it is not so easy to exit. Below are some tips on what to do if you find yourself in such financial trouble, a remarkable solution is to try to negotiate with your creditors. Of course, they do not have to bring the expected effect, but they are definitely a better solution than waiting for the case to be in court and the 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 attitude, raising expectations of debt cancellation. However, it is worth presenting your life situation explaining exactly why such serious financial problems occurred. You should also think about the amount that you can pay monthly for the debt.
Payday loans are really small formalities that need to be completed. Thanks to this, borrowing money does not require devoting a huge amount of time to collecting the necessary documents, completing extensive applications, etc. Everything is done very quickly and efficiently, which is the undoubted advantage of such loans.
When we talk about payday loans, we must not forget that in their case the credit decision is taken extremely quickly. Most Cream banks that deal with providing payday loans make a credit decision within a maximum of one hour. Thanks to this, a person who needs money gains it in a very short time.
Payday loans have a constantly growing group of supporters. This is not surprising when we look at the advantages of this type of quick loans. Let’s see why it is worth to decide on payday loans and in what respects it is better than classic loans granted by banks.
In most cases, Cream banks giving payday loans do not expect a person who wants to borrow money to present a certificate of employment and earnings. As a result, payday loans are available to people working without a contract and employed under civil law contracts. For banks that grant loans, this simplified procedure is not an option at all. Therefore, many people have no chance of getting a loan, even though repayment would not be a problem.
Can you get a loan without an ID card?
The most popular product of the non-banking financial market are, of course, payday loans, i.e. short-term loans. Their name is not accidental. They are awarded for a really short time. Usually, the loan period in their case ranges from a few to no more than sixty days.Initially, non-bank companies offered their clients loans for a short period of time as well as a relatively small amount – generally they did not amount to more than one thousand zlotys. Today the situation is completely different. As for payday loan, you can count on a loan of up to six thousand zlotys. The lowest amount that comes into play in most Cream banks is fifty zlotys. It is worth adding that a lot of Cream banks offer their clients a free first loan. What does it mean? There is no interest rate on the first loan. Thanks to this, we will refund exactly the amount we borrowed.
Cream banks are constantly expanding their offer. Currently, these are not only payday loans, but also installment loans, which amount to much higher amounts. It’s a great choice for people who need a much higher amount of money, but will not get a traditional loan at any bank. Such a loan may amount to even thirty thousand zlotys. How long is the loan period? It depends, of course, on the lender, but up to four years are involved. When deciding on such a loan, you need to consider any costs that are associated with it.
Among the loans currently enjoying great interest include the so-called payday loans. Their delivery is handled by Cream banks, which are increasingly. Few people know, however, that their offer is not only payday loans. Below we present what we can count on by putting on a cream bank.