Cash loan for debtors offered by loan companies and parabanks is a product for debtors of varying degrees, some lenders even offer cash loans for debtors with bailiffs. The rules for such loans may differ from the payday loans in the basic offer.
Pursuant to the Banking Law, banks may not grant loans to indebted persons. Lending companies operating under the Consumer Credit Act do not have such restrictions, but many of them introduce limits on the amount of debt of the applicant for a loan. Many companies offer payday loans for those in debt, on their own terms. Installments, usually installment mortgages, are a form of assistance for those in debt.
Payday debt for the indebted – who can get it?
Loan companies operating in accordance with established business standards and in accordance with ethical principles rarely grant loans to indebted persons. This is due not only to the desire to build a positive image as a reliable and honest lender, but also to credit risk, which is very high for those in debt. A risky client from the lender’s perspective is one who has no fixed income, is in debt or has a debt collection for over PLN 2,000.
Online payday loans for the indebted are a product found in the offers of some loan companies and parabanks. Usually, lenders set a debt limit for which they grant loans. Many of them offer installment loans, payday loans, for those in debt. The feature of such loans is that they have a repayment period shorter than 12 months, then they can be defined as payday loans, in practice the name “installment loans for debtors” is more common. They consist in the fact that the lender grants a loan for the amount that covers all debts of the borrower and expects to pay the debt within the prescribed period. Most often, mortgage collateral is established for such consolidation loans.
Loan companies, if they can grant loans to indebted persons, only a percentage of them decide to borrow money to persons with bailiff seizure. Parabanks and private investors offer payday loans for debtors with debt collectors. They usually require additional security for debt repayment, e.g. mortgage security or the appointment of a guarantor who will guarantee repayment with his assets.
Payday loans online and on the phone – how do you take payday loans?
The instant cash loan is available via the Internet, telephone or with the lender’s representative. In all cases, the procedure is similar to payday loans for people without debts. You need an ID card to take out the loan.
An application for a quick payday loan can be submitted online on the lender’s website by completing the appropriate form. Confirmation of identity is required for the application to be processed. This can be done via the Internet by performing a verification transfer or by using the instant verification platform recommended by the lender (logging into electronic banking is required).
Payday loans for those in debt also require data verification. One option is a verification transfer, as in the case of payday loans online, the other – a meeting with a representative who will confirm the data. Instant debt for online debt is the most convenient for the applicant, because all formalities can be done online.
Payday loans for the unemployed and indebted as well as people without income are paid to a bank account or by postal order, money can also be picked up at the lender’s branch or from a representative operating in the field.
Payday loans for debtors with bailiffs and payday loans for debtors without BIK and KRD
Cash payday loans without BIK and KRD are more expensive than “regular” payday loans in the lenders offer. This is due to the increased credit risk of this group of customers – the lender protects its interests in the event of late repayment or default by the borrower.
Cash loans for debtors in KRD are the domain of parabanks, but they are also provided by some loan companies. Not all lenders check available debt register and Credit Information Bureau. Some declare that they verify only individual lists of debtors. This makes it possible to obtain loans for indebted persons who are not on all registers.
It is harder to get a loan if you do not have an income source. Payday loans for indebted unemployed are a rarity on the market. They are only provided by companies that accept sources of income other than legal work, e.g. alimony or illegal work. In such cases, payday evidence for debtors almost always requires a guarantor or a mortgage security.