Bad credit payday loans online direct lenders -I need an online payday loan

If you go to the bank to take out a loan, this is often not easy. In these times of economic crisis, there are many conditions attached to taking out a loan. You should not only have a positive result from a credit check but you also often have to have certain documents or have a high income. If you do not meet these conditions, borrowing will be difficult for you. 

I need an online payday loan from a direct lender

Where you are rejected by the bank for a loan, online lenders try to ensure that taking out a small loan is possible for as many people as possible. They hardly apply any conditions for this. The only thing you have to take into account is that you must be at least 21 years old for these loans and that you must have a fixed income. How high this fixed income is and what it consists of is not important, so that it is still possible with a benefit to borrowing money. You also do not have to check blacklist before taking out a loan, for these loan providers do not matter whether or not you have a blacklist listing. Reasons they have for omitting a blacklist check are that this takes a lot of time, excludes many people from a loan and that this is not necessary because it involves relatively small amounts. Borrowing money with small wages is therefore always possible, also with blacklist notation!

Fortunately, there is also a way to apply for an online payday loan from a direct lender. Call now: 800-522-9222.

How much money to borrow with a small wage?

With low income you can, therefore, borrow money, but what amounts does this mean? You can borrow amounts from 50 up to and including 1000 euro with the help of a small loan from online credit providers. That does not make small loans a structural solution to money problems, but it can be just that extra bit that you need. For example, you can borrow 400 euros for a new computer, 600 euros for the repair of your car or 850 euros for a holiday. What exactly you do with the money you do not have to consult with the online lender!

Borrow money on the internet with a small wage

Special about these small loans is that you can close them on the internet. This means that you do not have to leave the door to apply for a loan, because you can arrange your loan at any time of the day from behind the computer. When applying for your loan on the internet you do not have to send papers or answer difficult questions, so it is very easy for you to get money quickly, even if you have a low income. Moreover, in most cases, you can expect that you have the money on your account the same day. Some loan providers can even guarantee that you already have money 10 minutes later!

What are zero-interest payday loans

When we are looking for a loan, we are likely to be attracted by the promises of low costs and lighter conditions for the repayment of the sum received. If trying to save money is natural, we must not lower our guard.

If we hear about zero-rate payday loans we must first read the information carefully (yes, even the small parts written!): Often, in fact, when we talk about zero rate we mean that only the Tan is zero, that is, you do not pay interest on the loan during the payment of installments. The Taeg, however, which indicates the actual amount of what we have to repay, will certainly not be zero; this because it includes the costs of preliminary investigation and eventual incidental expenses, commissions and various taxes…

The most common zero-rate cases that we find among the proposals of the lenders therefore have a Tan equal to zero and a non-zero Taeg. In these cases, the sum that we will have to repay will still be lower than a loan in which each installment also includes a portion of interest.

On the other hand, if we speak of a real zero rate, that is, without additional costs for the borrower, both the Tan and the Taeg must be zero. The cases in which this occurs are very rare and usually linked to specific objectives (for example environmental savings) or certain categories (young people).

If we are evaluating an offer at Tan zero, we are careful to calculate well all the ancillary costs that will form the Taeg, to understand the actual cost that we will have to sustain and not find ourselves paying higher rates of our purchasing power, putting us to risk of over – indebtedness.

What is Consolidation?

Consolidation in an economic sense, it is a combination of two or more borrowed loans or credits , in one – easier to repay. The repayment date and the terms of the contract are also consolidated.

Installments for repayment are always smaller than the combination of installments of previously repaid loans. The purpose of consolidation is to facilitate repayment of debt and reduce additional costs such as the costs of servicing separate loans.


Types of consolidation loans

Types of consolidation loans

Not every loan taken can be combined with another and the bank does not always give such consolidation. As you know, it is a lot easier for debtors, which is why banks also had to insure themselves. There are only two types of consolidation loans, that is, what we will get in exchange for our unpaid loans.

These are:

  • cash loan – it is usually granted for a relatively short repayment period of up to 10 years at the most.
  • Mortgage – is granted more willingly and for a longer repayment period. The only condition is that you must pledge your own home to secure your debt repayment.


When can you consolidate your loans?

When can you consolidate your loans?

Consolidation of loans is a service proposed by most banks, but some conditions must be met to achieve it. Above all, the debtor must have flawless creditworthiness .

The loans that it wants to consolidate had to be repaid regularly and on time. No bank will pay off loans and will not offer a lighter form of repayment if it is not sure that you will be able to repay it.

This is the most important condition to meet. However, it is not possible to hide previous arrears in repayments before the bank, as it reaches for the BIK report, which contains accurate data on persons who are in arrears in repayment of loans and advances.

Another important condition is that the loans are granted by the bank . You can not consolidate loans from non-bank companies or other institutions.

This is so uncomfortable, because checking the creditworthiness also draws attention to loans granted by parabanks, but with them you can not do anything.

While checking creditworthiness, the income, marital status, type of employment contract and possible financial security in the form of a house or car are verified. All of this is checked to ensure that the consolidation service provided by the bank will not be associated with a loss.

Another condition that must be met is that the loan we consolidate must be concluded with a bank other than the one in which we will ultimately pay it back.

The restrictions do not only apply to the time we will pay back the loan, but also the amount of the loan. Usually it oscillates around PLN 200,000, however, each bank performing this service has its own guidelines and conditions.


Advantages of loan consolidation

The consolidation involves a lot of formalities, and the conditions for granting it are quite high and absolute. Therefore, the question should be asked whether consolidation is a service that is so beneficial to the debtor, so that it is worth applying for it.

Here are some of the advantages of loan consolidation:

  • the installment is reduced. This is quite obvious, because since there were several installments so far, and suddenly there is one, it is obvious that it is easier to repay and smaller. Usually, this argument is enough to convince someone to use this banking service. It is mainly aimed at people who, despite the fact that they were coping with a lot of loans, slowly began to feel their burden. Consolidation aims to reduce this burden by spreading it over time;
  • it is convenient and reduces formalities. Instead of paying off various loans in many branches, we send installments to one place every month. Thanks to this, the home budget is much more transparent and understandable, and the chance that we will forget the repayment or mistake the address is slim. In addition, it should be mentioned that we already have a repayment agreement with only one bank. This reduces the formalities to the mandatory minimum;
  • a consolidation loan gives you the opportunity to better manage your home budget. This is related to smaller installments and extended repayment period. It is easier to plan something with a monthly budget, because the payment of obligations is much less.

Not for every consolidation loan seems to be the best option for convenient repayment of installments. The most frequently mentioned defects of the consolidation loan are its high costs.

Although spread over time and in convenient installments, they are practically imperceptible to the debtor, the truth is that this loan is one of the most expensive services offered.

As you can guess, this is due to the fact that if banks offer a more convenient form of repayment, they must also earn from this service. In everyday life, consolidation seems to be a great solution to financial problems, but in the long run, it costs more than the loans that are included in it.

Another frequently mentioned disadvantage is a longer repayment period. This action is a logical step, taking into account that thanks to the consolidation loan we have a smaller installment, and we pay more, but it does not suit everyone.

Some people, however, prefer to pay back a larger amount for a shorter period.