Do you have any debt? You are one of the nearly 2.5 million people in debt in our country. Finding yourself in this situation is really easy. But what can you do if you need extra money and do you have any chance of finding a lender? A difficult matter, but possible to implement.
Debt is not the end of the world!
This type of financial problem primarily requires prudent action. You’d better think twice, and only then act and above all, do not shirk responsibility. Important note right away – don’t count on the favor of banks that avoid lending to indebted people. For justification, it should be emphasized that this is not a matter of bad will, but of provisions arising from banking law . In any case, you have debt, look for solutions other than applying for a bank loan. Fortunately, the non-bank loans sector has been developing intensively for several years and this is already a more viable option. However, before you even start looking for a lender who would be willing to positively verify a loan application from a person in debt, do other things.
- Contact your creditor (or creditors) to negotiate more favorable terms for repayment of arrears
Very often, such a step avoids entering into the database of debtors, but first of all through mediation you can get a compromise, e.g. credit holidays or write off of at least part of the accrued interest due to not paying installments on time. Financial institutions are more likely to agree on solutions that allow them to recover their debt in any way, even at the expense of extending the repayment deadline.
- Check BIK and KRD
Information on debt does not go straight to the databases, so it’s worth checking it out before applying for a loan. Remember that the creditor is obliged to inform in advance that he intends to make a notification to the databases. If he did not do it, then there is rather no negative entry (unless it was done unlawfully).
How do you get a loan if you are a debtor?
Certainly not in the bank, but in the non-banking sector, of course, there are some chances. There are several options.
Loan without BIK
Not every lender verifies the credibility of a potential borrower in the Credit Information Bureau. If you have a bad credit history, look for a company that does not check the BIK database. It also happens that even BIK checking companies turn out to be willing to grant a loan to a person in debt because they assess their clients’ creditworthiness slightly differently. But then you need some extra security. It’s best when you can show a sufficiently high income – of course you need some confirmation, e.g. an account statement.
This is an interesting proposition if you have only one outstanding financial commitment. It means paying off the debt by incurring a new liability. Sounds a bit mysterious, but the point is that one loan is replaced by another – however, it automatically entails more favorable conditions and, and this is crucial, obtaining an additional amount for any purpose. This is an excellent solution as long as you don’t count on too high a financial injection. This supplement is not big, but you also have a different profit, i.e. lowering the current installment. Oh, you don’t have to think about how to do the whole operation, because the formalities belong to the lender. All you have to do is sign a new contract
A consolidation loan
Another advantageous 2in1 option, but this time it is not a single overdue obligation. If the debt arises from the necessity of paying off several installments and it exceeds your financial capabilities, then you remain applying for consolidation of loans and advances. In other words – instead of several installments you have to pay one for a lower amount (due to the extension of the schedule). And, as with refinancing, you can get an extra amount of money at the same time. An excellent solution in a debt situation, because you get a loan and at the same time improve your financial liquidity.
Private or community loan
This is another way to get a loan if you have debts. In many cases, this option turns out to be the fastest to implement. Importantly, you can apply for much higher amounts than in a loan company. It is only necessary to find a person willing to grant such a loan. It is best to use an intermediary service that connects borrowers with lenders. You just need to complete the appropriate form. It doesn’t matter if you have negative entries in BIK, because the database cannot be checked by a private investor. Collateral for him is usually a promissory note or pledge – especially a mortgage pledge.
As you can see, even debt does not completely eliminate the chances of getting a loan. What’s more, you have several options to choose from. It remains only to adapt one to your individual needs.