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Non-bank loans for those in debt – explore the possibilities

What can you do to deal with some of your obligations that are becoming more and more troublesome? If you can’t take a consolidation loan and you don’t have creditworthiness, think about other financial help, which is the loan.

According to data from 2018, the debt of Poles amounts to USD 68 billion, i.e. as much as 9% of GDP, which allows it to take place among the most indebted EU countries.

Choosing a lifestyle on credit and no collateral

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Poles are in debt because of choosing a lifestyle on credit and no collateral for a rainy day. When problems with work or health arise, they are unable to fulfill their obligations.

The share of unregulated receivables in consumer loans is over 11.5%. This means that just so many people have problems paying their installments on time.

According to Good Finance, the inhabitants of small towns are the most indebted. It is as much as 27% of the total number of debtors, and 11% of the total number of inhabitants of these cities. In cities with over 300,000 the percentage of indebted people is only 6%, and in the countryside – 3%.

This is not only due to lack of work – paradoxically, but the largest percentage of small-town debtors also comes from the west and center of the country, i.e. from the Good Finance and Honest Bank, where unemployment is much lower than in the east of Poland.

Men are more likely to be in debt, and looking at debt from an age perspective, people in the 36-59 age group have the most liabilities. All this means that more and more Poles are not creditworthy.

What are non-bank loans for indebted?

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Debt is not just loans that you try to pay back first. Only every fourth outstanding commitment is owed to companies in the financial industry.

Debts also arise by not paying installments for equipment or furniture, installments of insurance policies, subscription for television or internet, as well as monthly bills for water, electricity, gas, garbage collection and taxes.

Non-bank loans for indebted persons are financial products addressed to persons who have:

  • problems paying off their obligations,
  • negative credit history in GFI (Good Finance) and GC,
  • receivables collected by a court bailiff.

People in debt have very little chance of getting a loan from a bank. Negative credit history in GFI almost automatically means unfavorable decision. Sometimes, the solution is either to take a consolidation loan (when you combine several loans into one) or to find a giraffe. Because it is not easy, the only option for many people is a non-bank loan for those in debt.

A non-bank loan has the advantage over credit that many loan companies are only interested in your account proceeds, which is a big advantage for people working without a contract or having income from sources other than a salary.

You do not have to bring, as in the case of credit, various types of certificates – all you need is your ID card and account statement. In this way, the loan granting procedure is significantly shortened.

The speed of granting funds is also characterized by non-bank loans for debtors with a bailiff. It cannot be otherwise, because if your obligations are taken over by a bailiff, large bailiff costs are charged each month.

Where can I find non-bank loans for those in debt?

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The best source of information about this type of product is the internet, where you can use comparison websites and check various products.

The comparison engine is constructed in such a way that you can immediately point out that you are only interested in payday loans without GFI, i.e. without verification in the debtors’ registers. Then choose the loan repayment period and the amount you are interested in:

Individual products differ from each other by the cost of the loan (the difference between the cheapest and the most expensive is almost 100%!) And the amount of monthly installments (the difference, in this case, is over USD 200).

Long-term loans – a summary of a Good Finance expert:

Long-term loans - a summary of a Good Finance expert:

When choosing a loan without GFI verification, it is worth comparing offers, taking into account the actual annual interest rate (APRC). It determines the total amount you will have to give back.

In addition to the costs indicated, all types of penalties that the lender may charge for not paying installments on time are extremely important, which is why reading all the provisions of the contract in detail is so important. Some companies apply very expensive methods when calculating fines, e.g. one SMS with reminder may cost several dozen USD.

Beware of this type of product – the number of offers on the market is large enough to easily find a reliable lender. However, always follow the cardinal rule – always pay the installment on time. After all, you have to get out of financial trouble and not get into new ones.

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