Is it worth taking a payday loan?

Is it worth taking a payday loan?

November 1, 2019 0 By admin

Our common sense and a cool assessment of the situation should always decide whether it is worth taking payday payday pay. We usually reach for payday loans so as not to lose a shopping opportunity (e.g. last minute trips), in worse months when we lack financial liquidity, in a situation we want to make a gift to loved ones or carry out renovation of an apartment or a car. Why payday loans have become so popular and so attractive to consumers looking for little financial support? Below are the main benefits of payday loans.

 

First payday for free

payday loan

The free payday loan is the opportunity to receive the first quick loan absolutely free of charge and at no cost for new customers who have not yet taken a loan at a non-bank institution. The company offers the possibility of taking the first loan for 0% in the amount of $ 1,500 for a period of 30 days. The customer reaching for such payday loan will refund exactly the same amount that he borrowed if he repays the loan within 1 month. No additional fees will be added, funds can be used for any purpose, and timely repayment of the first loan will open the possibility of increasing the limit of funds that can be made available if you want to reach another payday loan.

After 7 days of paying off the first free payday pay, we will be able to apply for $ 2,000. We will reach the next limit 7 days after repayment of the second loan and it will amount to $ 2,500. The fourth limit will be $ 3,000, and the last upper limit available from Friday will be $ 4,000. It will also be the maximum amount at which we will be able to take a payday loan in the company.

 

Easy to receive payday pay

Easy to receive payday pay

Loan companies offering payday loans create looser procedures to verify both the history and the creditworthiness of consumers towards people applying for a quick loan. Most non-banking companies introduce their own risk assessment models that will involve making cash available to a specific customer. In connection with the above, the loan institution verifies the potential borrower each time in the BIK (Credit Information Bureau) and KRD (National Debtors Register) databases. However, most requests for payday loans are positively accepted. It is enough that the person applying for the payday loan will not have previous arrears in the form of unpaid liabilities (or delayed payment) and declare the ability to pay the payday payback, i.e. he will have a stable income. A loan in a company can be applied for with a loan or other liabilities from financial institutions, provided they are repaid on time. The loan company usually does not verify the source or the amount of earnings of a potential borrower, while in special cases it can ask for personal account statements from the last 3 months.

 

The convenience of taking payday loans

payday loans

The momentary payment is a convenient solution because we get it without leaving home. To do this, you only need to complete a loan application using the website of the loan institution. The whole process of applying for payday payday takes just a few minutes and you only need to prepare basic documents. We determine the period for which we want to borrow money (usually up to 30 days) and the amount that we need (usually from $ 100 to $ 4,000). The entire process of both requesting, reviewing and withdrawing cash to our account is done entirely online.

 

Simple formalities for taking payday loans

Simple formalities for taking payday loans

To receive the payday, all you need is an ID card, a regular source of income, a mobile phone and a bank account. In the loan application, we provide our personal data and send a copy of it to the lending institution (ID card scan). After completing the application, the loan company will ask you to perform a verification transfer from our personal account to the provided account number in the amount of symbolic 1 penny. The procedure is to verify that the personal data provided by us is correct. After the application has been approved, we will receive a contract which the lender will send to our e-mail address. After accepting the terms of the contract, the loan institution will make a transfer to our bank account.