MonthOctober 2019

Loans without income certificates

When we encounter a unique opportunity, on the contrary – a combination of unfortunate accidents puts us at risk of unplanned expenditure – the lack of available resources can be a serious problem. Fortunately, these circumstances do not mean that we are forced to give up a bargain purchase. The offer of banks and loan companies meets short-term payment problems through loans without certificates.


Loan without certificates – what exactly is it?

Loan without certificates - what exactly is it?

A loan without income declarations is a solution available to clients using the services of financial and loan institutions operating on the Polish market. A loan without certificates does not mean, however, that potential lenders will not verify the applicant’s financial position. However, under this type of product the decision path of the credit procedure can be significantly faster. Depending on the type of entity that grants the loan without certificates, customer verification may vary.


Loan without income certificates – banks

Loan without income certificates - banks

Some banks offer cash loans to clients without requiring many documents, including income certificates. However, you should not equate obtaining a loan without certificates and taking a loan without income. The fact that the client does not have to ask for the appropriate document to be generated by the HR services of his employer does not mean that the banks are not interested in assessing the credit situation of the loan applicant without certificates.

The following are solutions that allow you to reduce the risk incurred by financial institutions with the simultaneous benefit of a simplified loan granting procedure:

  • loan with a statement of income – an option where the bank asks you to complete and sign a statement of income and provide an ID card. It can be reduced to providing the customer with contact details of his employer and providing information on the level of remuneration received. The bank, using remote communication channels, contacts the workplace to confirm the presented data,
  • credit based on an account statement – a solution whereby the bank uses the customer’s bank account history and identity card details. The shortest credit procedure should be suggested by the bank where we have our main personal account. The facility, having access to the client’s full financial history, often prepares a loan or credit offer, |
  • credit based on a PIT tax return – the bank focuses on the annual tax return as a source of data on the client’s financial standing. He also checks his ID card obligatorily.

Depending on the bank’s policy and customer service methods, it is possible to complete all formalities from the level of the electronic banking system user panel. Therefore, for some clients, credit without certificates seems to be available at their fingertips.


Loans without certificates – who if not the bank?

Loans without certificates - who if not the bank?

If, for various reasons, we are not interested in the loan offer of banks, let us note that a very large group focused on conducting similar activities are loan companies. A loan without income certificates, commonly called payday loans, is a loan with a short repayment period (e.g. 30 days), which can be associated with an even simpler decision path than for banks. The loan company may be interested in the level of our monthly salary. Some entities allow the possibility that the amount of receipts, which are to give credibility to the client, include not only income from work, but also other contributions to the household budget (such as profits from renting a flat or allowance).

It may happen that a given company has a slightly more restrictive policy of granting loans without certificates, and as part of the form provided to applicants for funds will post questions about the employer or a request for access to a bank statement. This is not a rule, therefore the most sensible solution will be to familiarize yourself with the offer of several companies. There are companies on the market that grant loans of a relatively small denomination (e.g. up to $ 3,000) without requiring anything but verification of personal data based on an identity card.


Facilities for clients

Facilities for clients

When browsing loan companies’ offers, you may come across the slogan “free first loans”. It is a proposal that competing entities try to attract new customers looking for an attractive loan offer without certificates. Such an offer can be a good, cost-free offer for customers who are convinced that they will not encounter problems with repayment of the liability amount within the set time limit, and at the same time want to take advantage of the opportunity to avoid fees and commissions.

The second type of facilitation that may appeal to people who do not feel too confident in completing formalities online is the visit of a loan company advisor to the client’s home. If we are interested in an offer to take out a loan without certificates, all you have to do is leave contact details on the company’s website and its representatives will contact us to arrange a visit at a convenient time for us.

Is it worth taking a loan to pay back payday loans?

Payday loans belong to such loans that can be obtained very simply and quickly. Unfortunately, the repayment of such a loan is not always so easy and simple, and there are often situations that it is through such a quick loan that we fall into an even larger debt and credit loop.

If you have had the opportunity to read one of my articles before, you know that I am not one of the opponents of payday loans, but at the same time I am in favor of borrowing money with my head. I think that many things are for people, but only if they are skilfully used. In the case of payday loans, I had the opportunity to write about these most important things in the article online payday loan for $ 0 .


Debt in payday loans

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What should we do when we get into debt in payday loans companies. What to do if we have several loans from several different companies and we have no way to pay them all on time. If we have already reached such a moment, we should first think – how to repay these obligations without incurring further financial obligations, subsequent loans or credits.


Paying off payday loans is to start talks to divide them into monthly installments

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The first step we should take towards paying off payday loans is to start talks to divide them into monthly installments. If we have several different payday loans, the extension of their repayment date, which is available in this type of offer, will not be a good solution for us, so we should do everything possible to break down the repayment of these loans into monthly installments. To this end, we will have to talk to each individual company where we have a payday loan. We can do it by e-mail, making a request in which we describe our problem in detail, or by phone. However, I have to sensitize you that not all companies are eager to spread the repayment of such debt in installments. The good news is, however, that nearly half of the companies decide to cooperate and make it possible to pay their debts in installments.

Another way to get rid of the payday loans is to pay them all off at once. It is known that this will be the best possible solution because in one go we get rid of the problem with payday loans. The only question is – where can you get so much cash from? Here, the consolidation loan that would most often be given at banks to pay off other financial liabilities would work best. However, the majority of people who have debts in payday loans are not able to obtain additional credit through banks due to their poor credit history or poor credit standing.

The only alternative in this situation is to look for a long-term non-bank loan, i.e. a loan that will allow us to pay off all our liabilities. Thanks to it, we will get rid of several different debts and we will have only one, which in addition we will be able to repay in monthly installments. It is a good solution, but only on one condition – that we will find a loan that will be relatively cheap for us. It will also be a loan that will have high monthly installments, the amount of which will not be too much of a financial burden for us, which we will be able to repay in monthly installments without major obstacles. It should also be a loan with the shortest repayment period possible, because on such a loan we will definitely lose the least, and at the same time its amount and monthly installment must be tailored to our financial capabilities. Here, my article describing the cheapest non-bank loans for a year, i.e. with a 12-month repayment period, can be a great help.


A consolidation loan for repayment of payday loans

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This is the non-bank equivalent of a consolidation loan, unfortunately only available in a few companies. We can find it in the offer of such companies as Provident or Hapi loans, which allow to obtain cash loans up to $ 15,000. The same company is responsible for both brands, and the only difference is that Hapi is a brand that specializes in granting loans exclusively via the Internet. Other non-bank companies, in which we can also get small loan costs (of course, for non-bank conditions) are such names as Batka, Paglaom Credit, Saplo or Nonga (currently the cheapest installment loan available on the market). Each of these companies allows you to check the cost of the loan before applying for a loan. This means that we can calculate the exact amount of the monthly installment through the websites of these companies, so it will be easier for us to know the decision to choose a specific offer.