There are many questions about quick loans but may not often answer. One of the reasons is that many people who borrow money are ashamed and do not want to talk about it. So how do you get your thoughts on these disputed loans? Yes, you ask the LoanGeek.
“Using quick loans does not mean that you are poor and regular customer at the Social Office. In fact, there are people who appreciate the ease of the loan. Just having to print a few keystrokes on your computer or mobile phone and get money directly into the account, instead of phoning the bank, filling in long-running application forms and explaining their expenses and income. Receiving a paycheck, etc. can feel unnecessary as you only need to borrow a few sick crowns ”
Why is it really called fast loans?
The reason why it is called fast loans is contrary to what many people think is that you get money quickly. Of course, it is faster to get the money in the account than if you visit the bank, but the real reason why it is called fast loans is actually because the loan process itself is quick and easy. You can quickly fill out a loan application as no advanced information is required. You can quickly complete the application as it is signed with a Bank ID in one hand instead of a written agreement to be submitted. And in the end, it is also possible to quickly get the money to the account = fast loans
Is it true that I will be able to borrow money even though I have a payment note?
Some lenders offer loan with a note of payment. Of course, this does not mean that the loan is only for the person who has payment remarks. It also does not mean that the applicant for a loan with a payment note is automatically granted.
Here’s how it is: Everyone is looking for quick loans according to the same criteria. A certain age limit or income may be required to be granted the loan. In addition to the basic requirements, many lenders say no to the one who meets the basic requirements but has a payment note. The reason for this is that the payment note is proof that you have sometimes missed paying an invoice, knowingly or due to financial imbalance. The lender does not want to be exposed to a risk which means that they will not have their money repaid in a timely manner, as this can expose them to a financial imbalance.
Since then, there are lenders who approve loan with payment note. But these must also meet the basic requirements. As an assurance that there is a risk that the loan will not be repaid on time, these lenders often charge a lower interest rate, or an extra fee. This should cover the financial loss that occurs if the loan payment is delayed or fails. A loan is always repaid in one way or another. Regardless of whether it ends up with the Debt Collection and the Chronicle, the debt does not “disappear” but remains and grows in interest expenses year after year, until the day the Chronicle finds an income or property to deduct to repay the debt.
How big is the interest rate for these quick loans at Yesrite Finance?
Interest costs vary widely. One lender can offer loans with up to 0% interest, but instead charge a fee and the other lender charges an effective interest rate of several thousand percent. It is important to check carefully before signing a loan agreement.
How many quick loans can you take?
Of course, you should not take more quick loans than you can manage to repay, but in practice it is possible to have a loan from each lender as long as you meet the criteria for borrowing. But applying for 40 quick loans is not recommended. If you need so much money, it is better to apply for a private loan where the interest rate is lower and the loan amounts are up to half a million USD without collateral. But, as I said, it requires more of you and your financial history. As a result, many borrowers who have the “worse” position with many more lenders than you can manage, instead of taking a larger loan.