A payday loans for free – a nightmare or blessing? Is a non-bank minute a high cost of borrowing? Some people even talk about usurious interest. We still perceive non-bank loans stereotypically, which does not mean that in the last period something has changed. You can borrow expensive, but cheaper, provided, however, that we will use the first free loan.
Payday loans for free. What’s the point here? Borrowing money to some extent forces us to save. Borrowing PLN 1000 for 30 days, we have to manage the budget so that we can give back the money on time. By the way, 30 days to repay the loan in the amount of PLN 1000 is a very short period of time – a very high installment – so it may be better to consider a longer loan period? Loan companies offer installment loans , but they are not the cheapest and we certainly will not find free installment loans for new customers.
You can read many times that the payday for PLN 0 is a great opportunity to borrow money for free. It is above all a great opportunity for loan companies to win new customers and later earn them. Not necessarily for the customer. But let’s look at the facts. There are free non-bank breaks on the market. You enter the search engine loan for the first time for free or free payday loans and you already have loans and offers at your fingertips: no commission, interest rate 0%, no additional costs. APY is 0%. In addition, on many websites you can find already prepared lists of loan companies that offer free payday loans. Of course only for new customers. The non-bank surcharge comparator allows, for example, to search for a specific payday, in a certain amount and for the searched period of time. The list of loan companies allows you to choose one of the available loan offers and then the customer is redirected to the loan company service, where he will get acquainted with the loan, terms of its granting, contracts and simultaneously register on the website and apply for a loan.
Free loans are offered only by Internet loan companies. It is not true, however, that they can be obtained in 15 minutes. It is a myth, repeated many times, and not by loan companies, but by persons promoting such loans. Let’s repeat: a free minute on the internet is not possible in 15 minutes. Submitting the application, verification process, issuing the decision, transfer to the loan account, is definitely more than 15 minutes. The granting of another loan can take place in a much shorter period of time, but not the first loan. Formalities are definitely smaller than in the case of bank loans, but you must have the necessary documents prepared. In fact, few loan companies only provide loans for evidence. It is necessary to present the sources of income. Loan companies must (are obliged by law) to calculate the creditworthiness of the future borrower, and they will not do so with only an ID card.
One can also find the opinion that only in a loan company we will borrow for free, and banks charge fees. We currently find free bank cash loans for new customers for more than 30 days. The loan is not the same as the loan and can be provided free of charge, also by the bank. If you choose a loan of PLN 2,000 for 30 days in a loan company and the same loan in a bank for three months, it is definitely better to borrow at a bank. This is a rational and safe approach. Even when we pay the commission and interest costs.
Free payday loan seems very attractive, but it is also. dangerous. Like any loan or loan. It can also be a source of serious financial problems. What do borrowers do when they can not settle it on time? There are several possibilities, from the attitude “somehow it will be”, i.e. we do nothing to solve the problems, until we make another loan to repay the previous one. None of these solutions is good, it only exacerbates financial problems. The first option will end up in court, the second will put you in a spiral of debt and eventually. he will end up in court. Registering in a loan company and taking advantage of the first free time check is very often associated with subsequent loans. It is not that we will take only one loan and the end. SMSs and e-mails sent by a loan company with loan promotions will eventually make you take another “attractive” loan.