When using online loans or loans to pay off debt, it is worth doing it with caution and a full plan. It is worth remembering not to pay back one loan to the next. It is very easy then for the so-called “credit loop”. The resulting debt can be repaid for several years, because the interest increases in an inexorable blunt. Consolidation loans and loans for paying off debts are a good solution if we have a delay in repayment and do not want to pay any additional penalties connected with it. In addition to the additional fees charged by the loan company or bank, after 60 days the debtor is entered into the debt bases. The most popular databases are BIK (Credit Information Bureau), BIG (Economic Information Bureau), KRD (National Debtors Register), and ERiF.
Negative entries in these databases may significantly impede obtaining additional cash in the future. It wasn’t such a problem a few years ago, because almost no non-bank loan company checked clients in BIK. Today it is already standard in most companies. However, we are trying to help get out of debt and provide quick loans online for the indebted. We also do not verify our clients in BIK. We hope that this will help most people get out of debt on the straight path.
If we reach for a quick loan over the internet, we must be associated with the effects associated with it.
Quite often, people who need cash to pay off their current liabilities reach for loans and other debt instruments. This is a natural reaction to an external stimulus, which is an unpaid bill, or the fear of serious consequences of a lack of payment on time, such as power cuts. The scheme for borrowing cash in this case looks like this: stimulus – no money to pay bills, or some unexpected accident. Reaction – searching for sources of financing and the possibility of resolving the problem. Of course, this is not a bad thing. It’s a natural reaction. Unfortunately, due to the lack of adequate financial education at school, unfortunately, the vast majority of people do not know how to efficiently raise cash and the first thought in their mind is usually a loan or credit.
Cause and effect
In this case, we solve the current problem by borrowing, but only for a moment. A quick loan is not a solution but a temporary measure. After all, if we do not pay the current bills, what will we do if we add the loan installment? Usually such a budget closes in place and a small slip-up is enough, for example dismissal from work. It usually takes some time before we find another employer. Even two weeks without a job can ruin the entire credit puzzle. Because if the entire monthly budget closes and we don’t have any savings, then in the month in which we won’t work, the budget will not close.
Even if the borrower starts working after a break, it is not enough for him to pay his debts this month. The unpaid amount will be postponed to the next month, which will not help if the monthly budget closes. Interest will start rising soaring. In such situations, it is often a good idea to reach for another loan for repayment of debt. This is a great shot in the rate, because in addition to the current loan, the amount to be repaid will increase by interest and commission. It is not difficult at all if you borrow from the bank, because the interest rate and commission are quite decent. It is worse if the bank refuses the loan and we will be forced to get a non-bank loan.
Maybe a loan from a non-bank company?
Interest in this type of company reaches up to 50% per annum, so there is no way to go straight ahead and pay off debts. This is a classic example of getting into debt by ordinary Jan Kowalski. The key is to find out why it happened this way. It is not difficult to see that the most important thing that decided about this difficult situation is the ability to manage money. Unfortunately, no one taught us at school, and it is doubtful that ordinary people reach for knowledge in accounting and home budget management. If financial education were the same subject at school as mathematics or chemistry, this would probably not be the case.
The ability to manage assets, debt and savings is a solution to this problem. It would be enough for a person whose budget closes to contact, to reduce their monthly expenses, and instead of spending the remaining amount on unnecessary items, transfer to a savings account. Someone might say that you can’t do it because you earn a minimum domestic income and spend everything on your life. In 90% of cases it is only a translation of your awkwardness, looking for excuses, and a lack of willingness to give up your comfortable habits and habits. It is convenient to spend all your money before the next payment for fashionable clothes, going to a club or casino. Unfortunately, usually what is comfortable and pleasant does not lead to anything good. One wise man once said, “If you do easy things, life will be difficult. If you do difficult things, life will be easy. ” I subscribe to this quote with both hands.
So summarizing the whole text, one can draw a conclusion. Non-bank loans are nothing bad, provided you can use them. First of all, you should realistically assess the chances of whether a non-bank loan is definitely needed at the moment. There are sometimes situations that credit is the only solution and it is quite wise to take this debt. There are also situations where the loan is not needed and you can do without it. The decision on additional financing through debt should be made carefully and should include an accurate repayment plan.0.0 00