Payday advance loans online: Get Started Now
Online payday loans are a great convenience for customers. The advantages include a minimum of formalities, no guarantors, the opportunity to get a loan in a very short time without leaving home. Do you know what the security rules are when taking non-bank loans? Taking out loans on the Internet is safe and there is nothing to fear if you use common sense. Read some of our tips that will definitely help you to borrow online.
There are many loan institutions on the market that offer payday loans and installment loans. Take the time to choose the best loan offer. Check the costs of loans and the rules for granting them. Check promotions – many lenders offer free payday loans online to new clients.
Check the lender
An important aspect is the verification of our lender. The high popularity of fast internet loans has resulted in fraudsters appearing under the pretext of payday loans by phishing money or personal data from customers. Before applying for a loan, it is worth checking the credibility of our lender. There is the Association of Loan Companies, which created the Register of Loan Companies. There we will find a database of reliable lenders who are able to grant us an online loan.
Everybody knows that you always have to read the contract and the regulations, but unfortunately not everyone follows this rule. We often apply for a payday loan in a situation where we need cash for “already” and the rush causes that we do not load the contract too carefully or do not read it at all. To avoid unpleasant surprises read the contract. This is the basic rule when taking an online loan. It is not worth taking blind pay online. Each lender is obliged to inform us about commissions and all fees that we have to pay in connection with the loan.
Remember that when you take out a loan you will have to pay it back. Never borrow more than you need and more than you can pay back. Think about whether you can accumulate the desired amount on the repayment day. Check what consequences you face in the event of late repayment. Pay off the loan on time. Don’t get one loan back from another. Doing so leads to a spiral of debt.
Ensure a secure connection
Applying for payday loans online involves sending personal data contained in forms. An additional confirmation of these data is the verification transfer. In this case, you must log into your bank account through your bank’s website. So remember to do this via a secure internet connection. We advise against using internet cafes, computers at universities and public places or HotSpots. Check if the connection on the lender’s website is encrypted. If so, you’ll see a padlock in the browser toolbar. Its absence may mean the theft of our personal data by unauthorized persons.
Why did the loan company reject my payday loan application?
It may happen that you receive a negative decision from the lender. When applying for payday loans online at a loan company, read carefully the conditions for granting loans. Each non-banking institution determines who can get a loan online. The regulations specify, inter alia, the borrower’s age, citizenship and whether the borrower may appear in the registers of debtors. We have gathered the most common reasons why a loan company may refuse to grant you a quick payday loan.
a) you do not meet the age criterion
Most lenders set a lower and upper age limit for borrowers. Some loan companies have been offering loans for 18 years. Examples of such companies are Szybka Cash, Pandamoney, Kredito24 and Feniko. The upper age limit is e.g. 65 years (Viasms), 70 years (SuperGrosz), 75 years (KasaTak) or 80 years (e-letter). Only Wonga does not specify an age limit.
b) you have completed the application incorrectly
Incorrect personal data in the loan form makes it impossible to verify the borrower correctly and is the reason for rejecting the application. When completing the non-bank loan application, you can, for example, make a mistake entering the phone number or forget to attach the required documents.
c) you already have an active loan with the lender
In almost all lenders in the regulations you will find a provision saying that until the borrower repays the current loan, he can not apply for another loan.
d) you have a bad credit history or payment arrears (e.g. unpaid bills)
Most lenders check the credit history of customers. If you have unpaid loans or have had delays in repayment in the past, you should take into account that you may receive a negative decision. Loan companies check such registers as: BIK, KRD, BIG and ERIF.
e) you do not have a job and a permanent source of income
To obtain a loan, you may need to provide proof of your regular income. Failure to do so may result in a negative loan decision.
f) you do not have Polish citizenship
The basic requirement to receive payday pay is Polish citizenship.
g) you do not have a permanent address of residence / residence
Is the payday loan a good solution?
Are you thinking about taking payday loans online? Before you fill out an online loan application from a selected non-bank company, think about whether this form of loan in your situation is a reasonable solution. Instantaneous pay may be a temporary “medicine” for your financial problems, but in the long term it can lead to even greater financial problems.
We’ve gathered a few situations below when you should see a red light.
a) You have no fixed income
When you decide to take out a loan online, you must be 100% sure that you will pay off your obligations on time. Some loan companies allow you to extend the payday payday payback period, but this involves additional costs. If you do not have a stable income, you are not sure whether you will be able to collect the amount needed to pay your liability in a given month.
b) You have not repaid previous payday loans and credits
The biggest mistake among borrowers is taking more payday loans over the internet, just to pay off their previous obligations. In this way, it is easy to fall into a spiral of debt, which for many people is a life drama.
c) You need cash for “whims”
Think about whether you really need payday pay. Payday loans should be helpful in the case of current and unforeseen expenses that are significant to be paid. Another phone call, a computer gadget or a getaway with friends are not a must, so do not apply for payday pay.