Easy payment of payday loans.

Payday loans are loans that can be obtained quickly and conveniently, without extensive formalities or checking creditworthiness. Ease and incurring them means that many people borrow money later having problems giving them away. If paying back payday loans is a problem for you, read our tips.

Payday payday repayment – how to deal with debt?

Payday payday repayment - how to deal with debt?

In a situation where, for various reasons, we can not give money on time, many people panic and do not answer the phone. This is the worst solution that can only aggravate our problem. We ourselves should contact the loan company or debt collectors, inform us about the expected difficulties and find out exactly what amounts are to be repaid. It is worth trying to set a new, more convenient repayment schedule – in many cases loan companies go hand in hand if they see that they care about paying their liabilities.

Analyze your home budget

Analyze your home budget

The next step should be a thorough analysis of your home budget. It is worth to write down all necessary expenses and those that can be canceled. In many cases, discipline and “tightening the belt” for a while mean that you can calmly organize your finances and get straight. Unfortunately, this is not always enough. Sometimes, despite the very economical life of money, repayment is simply lacking. In this case, it is worth looking for additional earning opportunities.

The exact terms of repayment of the liability are included in the loan agreement, check what to look for.

Payday loans – convenient consolidation of payday loans

It is worth being aware that there is another solution. Most often, financial problems arise when we have to pay not one, but several payday loans. In this situation, the best solution may be a loan or consolidation loan. These offers are especially for people already in debt: they allow you to combine several obligations (for example payday loans, credit and installments for household appliances) into one. Thanks to this, we pay only one lower installment per month. You can find more about consolidation of payday loans here.

Credit on the mandate contract

A commission contract is a so-called “junk contract”, which is often accompanied by low earnings. Often, but not always … Freelancers often work on such contracts, e.g. programmers, graphic designers or copywriters who don’t complain about earnings. After all, the mandate contract is said to hinder or even prevent you from getting a loan. Credit on the mandate contract seems impossible … Why? Each banking institution calculates the creditworthiness of the client. He assesses whether he will be able to pay his debt without any problems. Creditworthiness is affected mainly by financial history in BIK, age, marital status, number of dependents, occupation, earnings and precisely – the form of employment. It’s no secret that an employment contract that gives you the most stable employment is most desirable. But how do you calculate the creditworthiness for people on a mandate contract? Is a loan under a mandate contract even possible?

Contract and credit agreement

Contract and credit agreement

The mandate contract is a popular civil law contract that employs around 10% of Poles. Unfortunately, it is governed by other laws than an employment contract, which is why people employed on such a contract often have difficulty obtaining a loan or credit. The mandate contract is easy to break up, and this creates the risk that the customer may suddenly, day by day, be left without income. As a result, the bank is not sure that the customer will be able to pay its debt.

Credit on the mandate contract is difficult to obtain, but this does not mean that it is impossible … Can you take a loan on the mandate contract?

It turns out that yes! What’s more, we can receive support in both the bank and loan companies that offer payday loans and installment loans. Banks are increasingly providing financial assistance under a mandate contract, provided that you have sufficiently long work experience and adequate income. The form of employment and the type of contract are of great importance for creditworthiness, but fortunately, this is not the most important thing. If we have proven stable income, we can count on a loan based on a mandate contract and even a contract for a specific task! Moreover, such contracts are often considered as additional income and are included in the creditworthiness.

What form of employment do banks accept?

  • employment contract,
  • civil law contracts, i.e. a mandate contract and a contract for specific work,
  • business activity,
  • pension and retirement pension,
  • farm,
  • appointment
  • calling
  • management contract

The credit procedure is very simple. We can personally go to a selected bank branch and talk directly to a credit advisor, or fill out an online form and wait for his call. By submitting your application, in many cases you can support your bank statement confirming the regularity and amount of income. However, most banks will demand the presentation of the contract itself, usually from last year.

Contract and home loan

A housing loan on a commission contract seems a total abstraction … and yet! Contract and mortgage? This can also work! Of course, the condition is a period of employment. To be able to make such a commitment, you must document the length of service under the mandate contract, which must be at least 6 months. In some banks 12 months, but it depends on the requirements of a particular bank. The bank may also contact the workplace or the payer to confirm cooperation.

Is a loan possible under an order contract?

Is a loan possible under an order contract?

Banking institutions prefer clients with regular and regular income under an employment contract, but we can also apply for a loan under a mandate contract in non-bank companies. The more that such a loan goes quickly to your account! In addition, in the case of banks, a bad credit history usually prevents you from getting a loan, even when working on a contract of employment. Non-bank institutions often do not look at credit history. What counts is the fact that the client has a stable source of income, so it is fully reliable. Loan companies consider clients working under a mandate contract to be completely solvent. They pay attention to the regularity of orders, and when verifying the amount of income, they usually take into account the average of the whole year.

A loan under a commission contract is therefore possible! The loan company is only interested in timely repayment, that’s all. And where do we get the money for it, it already leaves us. The company may possibly reduce the amount of loan that we applied for.

More and more people specializing in well-paid jobs prefer to work as a freelancer. Most often they accept orders only on the basis of a mandate contract or a specific task contract. Financial institutions know this very well, which is why they are increasingly willing to offer support.

Cash loan and income from work abroad

It is estimated that over 2 million of our compatriots live outside the country and generate income there. Many of these people after some time have a need to take out a loan for the purchase of an apartment, or possibly a cash loan for any purpose.

The rule for mortgage loans is that they are paid in the currency in which you earn. If we generate revenues in dollars or dollars, there is no problem because we will receive financing in such currencies.

The problem begins when we are employed in countries such as:

  • Switzerland
  • Norway
  • Iceland
  • Denmark
  • Sweden
  • Czech Republic
  • Hungary

and we earn in currencies. In Poland, we will not get a loan for an apartment in such currencies.

This problem, however, will not be with a cash loan for any purpose. In all these cases, we can apply for a loan in USD. Additionally, people with income in dollars and pounds can use it.

Financing the purchase of an apartment with a cash loan

Financing the purchase of an apartment with a cash loan

If we are not able to obtain a mortgage for the purchase of an apartment, we can use an unsecured cash loan in some part.

Such a loan can be spread over a shorter period, i.e. within 8-10 years, although we have to take into account that it will be more expensive compared to a secured loan. In addition, the loan amount will be lower, as it will be around USD 150,000

The pros are that the mortgage will not be taken over by the bank and the property will be 100% our property.

Funds raised in this way can be used for any purpose, for example:

  • buying a car
  • renovation
  • holiday
  • consolidation of other loans

Institutions lending income obtained abroad

Institutions lending income obtained abroad

Income from: employment contracts, managerial / seafarer contracts, old-age pension / disability pension is accepted.

For an employment contract / contract, a 12-month work experience with the current employer is required.

The condition is the receipt of remuneration on the Polish account. The minimum work experience of the current employer is 3 months.

The minimum seniority is 6 months with the current employer. Required impact of remuneration on the Polish account.

The offer is dedicated to applicants with an employment contract who reside in Poland and provide work in Germany or the Czech Republic

The loan is available to bank customers who have a foreign currency account with an income of at least 3 months. In addition, a co-borrower registered in Poland is required.

An account is required from a minimum of 6 months with payment receipt

An account is required from a minimum of 6 months with payment receipt

Requirements identical to those employed in Poland. Employment experience min. 3 months and 12 months ahead. However, we must realize that these are the minimum requirements and with larger amounts it will be difficult to get a loan for a longer period than the employment contract.

People who earn income in countries bordering Poland and whose income affects the Polish account are credited. If you run a business abroad, you will not receive a loan from a Polish bank.

FINANCING vs LOAN. What is the difference?

 

 

There is often confusion between the two terms. Here are the differences!

There is often confusion between the two terms. Here are the differences!

Loans, loans, consumer credit, are increasingly recurring terms that we hear or use, often without knowing what they are specifically.

In reality, talking about financing is like talking about fruit or cars, that is, of a generic category: just as there are various brands of cars and various types of fruit, so there are different forms of financing.

A Fiat and a Ferrari are always cars… but very different!

From the greengrocer nobody will understand if we just ask for fruit, without specifying what we want to buy in particular: oranges, apples, pears or other.

Now, applying for funding is certainly not like buying a kilo of fruit or a car, but it is an operation that needs particular attention, and let’s see why…

Do you need financing or a loan? Request your FREE consultation!

Do you need financing or a loan? Request your FREE consultation!

For the purchase and evaluation of most consumer goods we don’t need many preliminary explanations. When we go to a dealer, this does not need to explain the difference between a small car and a sedan, because the difference is completely evident: the bodywork, the accessories, the cost, are all elements that alone are enough to make us understand that we are talking about different car categories.

Unfortunately, for financing it is not the same thing, because a financing is not an object that is seen as a car or something else, it is a service that can be presented in different forms, known specifically only by professionals. Once a good consultant has the task, once we understand our needs, to guide us in making the most appropriate and convenient choice.

Therefore, it is important to know that there are different types of financing, distinguishable mainly on the basis of the subjects to which they are addressed – PRIVATE or COMPANIES – as well as, on the basis of the amounts disbursed and the purposes for which they are requested.

This distinction allows us to talk about ” consumer credit “, more commonly called consumer credit which represents a first and important macro category, which includes all loans granted to private individuals, for an amount between $ 200.00 and $ 75,000., 00. Therefore, a loan requested by a private individual for the purchase of a television set, but not for the purchase of an agricultural machinery or other object that is used for professional needs, of any amount will be included in consumer credit.

Why this distinction???

Why this distinction???

Because the legislator thus wanted to identify a category of loans which for amounts and purposes are mainly addressed to subjects recognized as ” CONSUMERS “, a category for which it has provided for specific protections and specific rights. These protections translate into information obligations to be provided to the consumer customer by the bank or company authorized to provide the loan, before establishing the contractual relationship and then for the entire duration of the relationship that may have been established.

And the Loans, instead???

And the Loans, instead???

So far we have always used the term “loan” because it is a generic term, however, ” loan ” is a specific term that refers to the particular form that financing can take.

For example, in the category of consumer credit that we have named, there are loans such as the “finalized loan” – the one required for the purchase of specific goods, such as appliances or mobile phones – or the “personal loan” which instead does not provide for a specific purpose.

Therefore, financing is the term used to refer to a generic category, loan is the particular form that financing assumes, while the term consumer credit simply defines the category of financing addressed to “private” consumers, for which the law provides for particulars protections and rights.

It will always be the task of our consultant to identify in particular the loan that best suits our needs at the moment.

Therefore, it is always good to turn to a specific professional figure, an expert in financing, ensuring that he is qualified to practice the profession.