Do you even have a chance to borrow as a borrower?
The person who repays a loan today is most likely registered in one of the so-called. debtors’ registers . This fact greatly limits its ability to borrow additional money from other licensed financial institutions. These people perceive such a candidate as a risky person with a reduced creditworthiness and the products offer them very unhappy. But what to do when a person really needs additional funding when drawing a loan? Is the situation on this front completely hopeless?
You will find the answer to this and other questions on the following lines.
- 1 Where does the borrower borrow?
- 2 A loan from a non-bank company
- 3 Private person loan
- 4 Are there other alternatives?
Where do borrowers borrow?
At the outset, it should be noted that a person with a record in one of the credit registers (ie the debtor) does not receive the loan in the bank . They have the conditions set very strict and immediately reject requests from risky persons. Banks are strictly monitored and cannot afford to take the risk and lend to the client with a registry entry and neck debts.
So does the borrower have a chance to borrow somewhere?
The answer is yes , there are still possibilities. However, it must be prepared that the conditions for candidates are rather unfavorable.
A loan from a non-bank company
There are still non-bank companies on the market that also lend to borrowers . However, such loans are very often accompanied by high interest . Not to mention that the client may be severely penalized for any delay. Debtors also often do not have the option of requesting a deferral and cannot therefore exceed the maturity date.
Since the non-banknote is at risk of stopping repayment of this loan, it will be more rigorous in verifying other information. Of course, there is a regular income , without which the borrower can forget the credit from the non-banknote. We mean an income from an employer because some loans can be obtained even when you receive a parental allowance or a pension. A non-bank company may also require you to be employed with a current employer for a certain period of time .
Do you need to solve your financial problems quickly? Fill out your online application and you can have your money in your account within 24 hours. If you have sufficient income, you can get the loan even if you already have debts.
A loan from a private person
The second option is to borrow from a private person , ie a natural person who has more money. However, these are very risky transactions that are unfavorable to the money buyers. The conditions are determined by the provider, and this can mean high interest , the establishment of a property , a car guarantee, and the like. Loan fees are no exception.
The advantages of this type of loan are mainly the speed and ease of equipment , no registry check and flexible loan amount .
If a person chooses a loan from a private person, he must carefully study the credit agreement , fix the repayment schedule , inform about any penalties for delays and check whether a deferral can be requested . Only when he is sure that he understands all the conditions without reservation can he agree with the transaction.
Loan on bill of exchange
In addition to the contract, private individuals also borrow on a bills of exchange to secure the loan. The borrower is guaranteed to get his money back with interest thanks to the bill . This is a very fast way to raise money, but it also carries a great deal of risk. On the one hand, you do not need to establish your property or seek a guarantor.
On the other hand, the bill is enforceable by court – once the court issues the order for payment, it is payable immediately, and you as the debtor get into execution proceedings.
Beware what you sign . Fraudsters tend to put more papers in, and there may be another bill that they name as a copy. Don’t be fooled. Each copy is a new bill.
TIP: Read this article before signing a bill or loan agreement with a private person .
Are there other alternatives?
The ideal solution (but also one of the more demanding ones) is to get out of the debtors register . This means paying off your obligations and paying off each loan . Records from credit registers tend to be erased several years after the last claim has been repaid. Therefore, a borrower can also get a loan with a record, but only if he has no active debts , so only his payables are recorded.
Another option is debt relief . However, it is not a simple and painless way. It is most sensible to use the services of professionals such as Prvá oddlžovacia, sro in such a case. Each case is individual and the assigned employee suggests a tailor-made solution .
For example, it may be a declaration of personal bankruptcy . Again, this is a complex process that requires certain actions and a sequence of steps. With personal bankruptcy, you can get rid of your debts by bankruptcy or repayment schedule .
Slovakia’s personal bankruptcy is growing in popularity from year to year. In March 2017, it has undergone major changes and, in particular, has been made more accessible to people who want to deal with their debts , especially because of the abolition of the minimum value of assets needed to declare personal bankruptcy.
Reading TIP: We wrote about how personal bankruptcy works after the changes in March 2017 in a detailed article.
As a matter of fact, getting rid of your debts and previous financial commitments increases your creditworthiness and, along with it, the chances of getting a loan .
Apply for a fast online loan within 24 hours via our online form and don’t risk seeing fraudsters and losing more money instead of paying off your debts. Solutions always exist, just need to find it right!