Lending companies include those that expect a customer to provide a bank statement that has been included in the last few months. This statement is an alternative to your earnings certificate. The statement confirms confirms regular account receipts. It also shows how much we spend per month.
Most people who decide on a payday loan are looking for a loan to get which you do not need anything except an ID card.
As it turns out, among the so-called parabanks there is no shortage of companies that borrow money by presenting only an ID document. This document confirms personal data and citizenship, i.e. the information that is needed to grant the loan. It should be added that more and more companies are currently providing loans via a global computer network. In this case, the borrower does not even have to appear in the branch of the company to present an identity document. Its scan can be sent electronically.
Payday loans are instant loans that are provided by so-called parabanks. Currently, such companies can be found in virtually every city. They are very popular, among others, because the formalities to be completed when taking payday loans have been kept to a minimum. Therefore, many people ask the question what documents are necessary for a parabank to lend us money.
While the ID card is a document that is necessary in every case, only some lenders require a certificate of employment and income. In the vast majority of cases, people borrowing money from a parabank do not need to provide any other documents than an ID card. This significantly reduces the procedure for applying for a loan, and at the same time means that the road to it is not closed for people who do not work legally.
How do payday loans work?
Payday loans are formalities that are kept to a minimum and must be completed. Consequently, borrowing money does not require a huge amount of time to collect documents, fill out extensive applications, etc. Everything is done really quickly and efficiently, which is a great advantage of this type of loans.
In most cases, parabanks giving payday loans do not expect a person who wants to borrow money to provide a certificate of employment and earnings. As a result, payday loans are available for people working in black or employed on so-called junk 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 despite the fact that there would be no problems with its repayment.
When we talk about payday loans, we must not forget that in their case the credit decision is taken almost immediately. Most parabanks involved in providing payday loans make a credit decision within no more than an hour. Consequently, a person who needs money, who needs money is gaining it in a very short time.
Payday loans have a really large group of supporters. This is no wonder when we look at the benefits of this type of quick loans. Let’s see why it is worth to decide on payday loans and in what respects it exceeds traditional bank loans.
Where is the best way to take a small cash loan?
Borrowing indefinitely can result in serious financial problems. It can lead to falling into a so-called debt loop, from which it is not so easy to get out. Below are some tips on what to do if you find yourself in such financial trouble, it is important to avoid getting more loans and credits. They are not a solution to your problems. Instead, they will increase debt and the number of creditors. That is why it is much better to try to negotiate with creditors who are already in debt. With a little good will on their part, they will be able to agree on a repayment schedule that will pay off the debt slowly.
If you have fallen into a spiral of debt, you need to carefully check the issues related to the limitation of debt. It may happen that we 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 is worth remembering that the claim will be time-barred after ten years and in the case of interest after only three.
In any case, the solution worth choosing is to try to negotiate with your creditors. It should be remembered that they do not have to bring the expected effect, but they are a much better solution than waiting for the case to be in court and a bailiff will finally knock on our door. When negotiating, there are a few rules to keep in mind. First of all, you should never take a claim attitude, raising expectations of debt cancellation. However, it is worth presenting your life situation and explaining exactly why such serious financial difficulties occurred. You should also think about the amount we are able to pay to your creditors’ account on a monthly basis.
Consumer bankruptcy is a solution included in the current law. However, it should be remembered that the declaration of consumer bankruptcy requires court proceedings. It is possible only if there are premises strictly defined by law.