Payday loan: borrowing without a bank

Some people are reluctant to apply for credit. Just imagining the formalities and negotiations with the bank scares them. Borrowing without a bank is the solution. Indeed, it is quite possible to obtain credit without going through a bank or a financial institution. In such cases, the borrower does not need to sign a personal loan contract with the bank: the loan is made directly between individuals or with municipal credits.

Simulate your loan online

  • Personal loan
  • Auto loan
  • Ready works
  • Consolidation of credits
  • Mortgage

Operation of the loan without a bank

Operation of the <a href=loan without a bank” />

 Today, lending between individuals has become commonplace. Just like the pawnshop, granted by municipal credits.

In the case of a loan from municipal credits, the loan is granted, with the guarantee of the deposit of an object of value. The property put in guarantee can be a jewel, furniture or a table of great value.

The duration of this type of loan varies from one to two years, a fairly limited duration compared to auto credit offers or work loans to the bank. As for the interest rate, it is generally between 9 to 15%. With the pawnshop, the principle is simple: if the borrower can not pay his monthly payments, the lender sells directly the object put in warranty at auction. More and more people who want to face financial contingencies are moving towards this option.

All the more so, that the financial products that municipal credits offer are almost identical to the products of a traditional bank. It is even possible to subscribe to prime rate home loans.

The visible benefits of borrowing without a bank

The visible benefits of borrowing without a bank

The advantage of this type of loan lies in the simplicity of the formalities. Indeed, the borrower can get very quickly the amount he wants, within one hour, after the deposit of the object pledged. Since 2009, this practice has been further highlighted by online platforms.

2.500 € to 7.999 € € 8,000 to € 29,999 30,000 and more
to borrow 2,500 euro to borrow 8.000 euro to borrow 30.000 euro
to borrow 3.000 euro to borrow 10.000 euro borrow 40.000 euro
borrow 4.000 euro borrow 12.000 euro borrow 50.000 euro
to borrow 5,000 euro to borrow 15.000 euro to borrow 60.000 euro
borrow 6.000 euro borrow 20.000 euro to borrow 75.000 euro
to borrow 7.000 euro to borrow 25.000 euro to borrow 100,000 euro

4 Tips on How to Choose a Good Credit Advisor

What qualities should a good credit advisor have?

Good Credit Advisor – Which is what?

A good credit advisor must definitely be: honest, competent, with extensive experience, reliable and reliable, which you can always rely on. And what can a good credit advisor really offer you? If you think that only the best mortgage loan will be found, then you are wrong or you simply do not require enough from such an adviser. Definitely not enough.

It is worth going to such an adviser to make the most of his knowledge and experience he has acquired. It is worth asking and asking questions – a good experienced adviser will not be offended by you. For the adviser, it’s a pleasure to explain to the client step by step all the intricacies related to the loan, and thanks to this the consultant gains in the eyes of the client. The more the customer knows, the later the whole process runs quickly and efficiently for the client and also efficiently for the adviser.

We are talking here about good advisers for whom work is a passion who like to talk to people and cooperate with them, because the entire process of applying for a product is a cooperation between Advisor vs Client. Good cooperation with the customer results in the counselor’s satisfaction when his clients recommend it to their friends. What can we expect from a good credit advisor?

Presentation of offers and selection that is actually beneficial for you

Presentation of offers and selection that is actually beneficial for you

You do not need to mention that we are going to the counselor in order to find the best mortgage or other product for which we are interested. This is obvious, but the reality is not so colorful anymore. We have often encountered offers that were not the best for the client at the time. Some offers are beyond the reach of the customer due to own contribution, creditworthiness, etc.

We’ve seen credit simulations that do not include all credit costs, e.g. about credit. Therefore, a good adviser should explain everything exactly. Some of the offers depending on the time, campaign and promotion in banks differ in details, which may also affect our future, for example in the case of the desire to transfer the loan to another bank. It is important that after paying the loan and receiving the first loan repayment schedule from the bank, do not be surprised that the installment is higher due to the higher interest rate for the first period until the mortgage is established in the land register or until the amount is lowered to the appropriate LTV level.

Therefore, if we immediately go to a competent and reliable credit advisor, we will avoid unpleasant surprises and understatements. A good credit advisor will not allow himself to be misunderstood, he will carefully discuss with you particular offers and, above all, will not hide any costs. And most importantly, it will not push you unnecessary additional products that will increase your total cost. A good credit advisor works on his reputation and credibility.

It will reduce the risk of complications

It will reduce the risk of complications

A good credit advisor with many years of experience will ask you many questions so that the whole process runs smoothly. Based on the information gathered, he will be able to find you the best solution suited to your needs. It will also be able to pick up all possible details that may affect the granting of credit under the proposed conditions or the granting of a loan. Choosing a good offer for you is one thing, the other thing is actually getting a loan. In this case, experience counts, which is one of the features of a good adviser. If a good adviser shows you possible problems or sees some obstacles that do not fully fit into the banking procedures, it only shows his knowledge and experience. In no case does it make anyone scared. His job is to draw attention to the situation from the beginning to the end, where you stand, what can happen or what to do to actually credit you. An adviser who has granted several hundred credits, has been working for many years, is sensitive to matters that deviate from banking procedures. If necessary, you will be signaled a problem, but at the same time, his experience will allow him to provide you with a suitable solution.

Formalities in a bank without adventures

Formalities in a bank without adventures

All advisers who know bank procedures are able to track every case (read). The trick is not to photocopy the documents and help the Borrower fill out the bank forms. The trick, however, is to complete the actually needed documents. Using the services of a good adviser, you will not hear: I forgot to tell you about another document, you forgot to initialate and sign on one statement.

A good credit advisor will conduct the case from the first conversation to the payment of the loan, and if necessary, it will remind you that the policy has been provided with home insurance after paying the loan. It will remind you about the formalities with the mortgage entry so that you do not pay unnecessarily the so-called bridge insurance in the form of a separate premium or in the form of a raised interest rate – both of which ultimately affect the higher loan installments you have to pay.

We have credit – great – after-sales service is an important thing

We have credit - great - after-sales service is an important thing

Most people do not realize how well they have a competent and committed credit advisor at their disposal, at a later stage, after paying out the loan. Ask friends who have a loan for several years. Have they ever consulted with an adviser on various matters that came out in the course of servicing – loan repayment referred to here such as change of collateral, overpayment or its full repayment or settlements of the disbursed installments or house construction payments, explanation of the reason for the increase in interest rate and many other cases that may happen to you during the repayment of the obligation? People who previously had no credit or who are first looking for a mortgage are not able to appreciate the after-sales service at the moment. They think only about paying future loan installments. Probably in most cases this will look like this, but some people will want to overpay the loan in a few years or transfer the mortgage to another property or sell a flat with a mortgage. Only then an experienced and competent adviser (financial or banking) who is already familiar with us and with whom you can meet and ask for advice is appreciated. Unfortunately, no banking helpline can replace it. The Internet is all the more needed here professional knowledge and specialist advice that you will receive during a conversation whether by phone or at a meeting.

Facts and Myths

Credit advisers think only of their commission, so it’s better to go to the bank…

Who does not think about remuneration today? Everyone and in every industry, not only in financial or credit counseling.

It is a myth. Why? In banks, too, people work on commissions, a banking advisor also has a different remuneration from different products and has a pre-order to expose you any unnecessary insurance at all costs or to offer a more expensive loan, on which he will earn more? to form your sales plan and satisfy your Manager or Director who every day asks him about the implementation of the sales plan. So, if you think differently, then you are very wrong. In addition, in some banks, advisors work on “self-employment”, i.e. they run a business and live only on commission. In some credit counseling companies it is similar. So the banking advisor does not necessarily have to be different from the financial one.

Banks also have full-time employment advisers. In that case, are they more credible because they have no commission? If they do not receive commission commissions, then the purest form is bonuses depending on the plans and sales of the so-called. caloric staples in the form of cross-selling – expensive products – high-margin ones, for which there are the biggest plans, which Advisors are billed and often have to explain why the given customer did not buy the additional product.

Therefore, thinking that it is better to go to the bank, because the counselor there will not give us expensive credit does not work in reality. And because there is a belief that the banking advisor will not skin us, we go to the bank with drowsiness and swallow products with the conviction that the offer in this bank is just that.

Better bigger company than less…

It’s another myth. We will tell you that – when you buy a service from a small local supplier, you know that you do not help the corporation president to buy a third home, but you help a young girl pay for dance lessons, a little boy to buy a shirt, and their mom and dad help you feed the family. Therefore, it is worth using small, good companies that have Polish capital.

Loan despite minus in the account


Consumers often wonder if they can take credit despite being negative. In fact, the negative balance on the checking account does not even enter the budget statement at a fictitious monthly rate because there is no repayment obligation. Thus, the partially or even completely exhausted disposition credit does not preclude a positive decision of the loan application submitted.

The difference between the utilization of the disposition credit and an overdraft

The difference between the utilization of the disposition credit and an overdraft

Although most private bank clients use both terms synonymously, there is a significant difference between using an agreed disposition credit and overdrawing a checking account. An overdraft is the overdraft of the agreed limit or a negative balance for an account for which the bank has not provided a disposition. This distinction is important when applying for a loan, despite the fact that it has a negative balance.

While a partially or fully utilized discretionary credit does not affect the credit opportunities, the overdraft on a regular basis leads to a rejection of the credit application, as it is considered an indication of improper account management. The overdraft of a current account can be recognized by means of the account statements, which most credit banks require in connection with a credit application. When consumers apply for a credit overdraft, they choose one of the few banks that will continue to refrain from submitting bank account statements. The account overdraft – but not the use of the agreed disposition framework – is also mentioned in a bank information. Obtaining such is unusual in installment lending due to strict formality,

Completely unproblematic can be a installment payment in the trade as a credit despite the minus in the account, since the presentation of bank statements in this case is unusual. For most installment purchases, the retailers do not even ask for proof of income, but are content with proof of the existing bank details via the bank card. Precisely because of this simple borrowing, buyers are particularly responsible not to enter into installment payment arrangements than they can reliably pay with their income.

What do bank customers look for when borrowing despite being in the bank account?

If bank customers take a loan despite a negative amount in the account, the loan application offers a greater than the amount needed for a current purchase, so that they can at the same time balance their bank account in the context of borrowing. After all, almost all banks charge significantly higher interest rates for the repayment credit than for an installment loan. An exception applies to the giro clients of the few financial institutions that do not charge interest on a low negative balance on the salary account.

The monthly installments to be paid on the account for the loan should be low, to which credit customers contribute by choosing a sufficiently long repayment term. In this way they avoid the repeated use of the disposition credit just for the payment of a credit installment.

In a price comparison for the credit despite the negative on the account consumers pay attention to the effective annual interest rates of the individual loan offers as well as the most flexible repayment possible. Such a policy ideally allows them to be suspended occasionally, as well as free special repayments.

Borrowing on negative account balance and low credit rating

A minus on the account is not necessarily a sign of a weak credit rating, but can at least temporarily occur even with bank customers with a high regular income and with a private credit information without negative feature. However, regardless of banks’ usual credit rating, a constant negative balance indicates an unbalanced relationship between revenue and expenditure.

In the case of a loan despite a negative balance on the account and a private credit negative feature at the same time, most customers think of the debt-free loan of a Swiss or Liechtenstein bank. This can be applied for over 3500 or 5000 euros, with the use of a granted dispolimit for the award decision is irrelevant. Few consumers are aware that a few domestic banks do not generally reject lending on a soft or closed private credit entry. Moreover, even with a weak credit rating, it is often possible to borrow money from a German financial institution through a credit intermediary. It is also conceivable for weak credit standing, the joint loan application with another person who makes a regular income and whose private credit information contains no negative entry.

A private loan can be taken on a corresponding loan exchange even with a minus in the account and limited creditworthiness. The submission of account statements in this case either not at all or only at the registration, but not required when submitting a specific loan request. A peculiarity of lending via a personal loan exchange is that the registered there as a lender, a majority of their decisions based on the intended use rather than the classic credit rating. The most accurate description possible of the project to be financed thus facilitates borrowing.