A sudden financial need may force us to look for loan offers that will be able to improve our situation in a short time. Quick loans, usually called breaks, are dedicated to those in need of quick financial assistance.
Traditional payday loans are low-term loans, granted for a short period (usually 30 days), to be repaid in full, at once. Modifications to payday loans, currently available in a large number of financial institutions, allow you to get a higher amount of loan spread over installments.
Quick installment loans can be repaid in 2, 3 or even 4 years (details specify each specific offer). Parabanks offer loans for up to 25,000 PLN . Most importantly, these loans can be granted in a very short time, often in one day.
Documents confirming financial credibility
Getting a quick loan in installments is associated with some necessary formalities. Each bank or paraban company will require its client to confirm its identity by submitting a copy of the ID card. A client applying for an installment loan must also have an official bank account and a valid telephone number.
Some companies will also demand confirmation of the amount of income received in the form of a document. It may be a statement or a certificate. The first type of document is less troublesome, it can be exposed by the borrower himself. It is confirmed only by its signature. On the other hand, the certificate is issued by the employer, it is confirmed by its own signature, the signature of the company’s accountant, as well as the company’s stamp.
Some companies and banks, in order to verify a potential borrower, request a bank statement or PIT from him. On both of these documents you can check the actual income of the customer. Additional documents may include:
- payrolls from the employer,
- current employment contract,
- certificate of employment,
- bills (for electricity, water, gas and other utilities).
In order to authenticate people who receive old-age or disability pensions, it is often necessary to obtain documents confirming the amount of the old-age pension received or a certificate of the amount of the disability pension paid.
The most common requirement is to have a minimum income of 700 PLN net per month. Some banks and parabank companies increase the limit.
Who can take advantage of payday payments?
The fact that the customer of a bank or credit company confirms its solvency with the help of documents is not always enough to grant a loan. Companies also place other types of conditions.
All financial institutions put their clients to the age requirement. You must be 18 or older to get a loan, in some companies the minimum age is 21 years. Also, the upper limit is defined and is usually 80 years (in some cases 75) .
In addition, the borrower must be a citizen of the Republic of Poland and often have a permanent home address.
The borrower’s positive verification also has his history of previous debts. If he has always paid his obligations on time, there is nothing to fear. If, however, he has problems in paying debts or fees, he may be burdened with a negative history in one of the economic information databases. Loan companies check borrowers at BIK (Credit Information Bureau), KRD (National Debt Register), BIG (Economic Information Office), ERIF Debtors Register and ZBP (Polish Bank Association) database .
Not always, every negative entry in the above-mentioned databases completely excludes the possibility of receiving a loan. Companies individually consider each submitted application. Perhaps you know from your own experience that in such cases, getting a positive answer is also possible. If so, share your stories in the comments.