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Fast online loans are becoming more and more popular. It is not surprising then that more and more people express their dissatisfaction, often throwing undeserved thunders at a loan company.

What to do to lose as little as possible on an online loan and not regret your decision.

What to do to lose as little as possible on an online loan and not regret your decision.


First of all – regulations

First of all - regulations

In principle, this entire article should be devoted to the problem of regulations. Hardly anyone reads them, hardly anyone analyzes loan agreements, hardly anyone explains their doubts with the company’s representative. It’s a shame to devote more space to this issue: of course, these are boring, uninteresting, difficult, sometimes ambiguous documents, but you just have to read them. The vast majority of loan companies are honest entities – honest in the sense that they do nothing that is not mentioned in the regulations. And that the borrower did not want to read it was another matter. Let’s do it: I won’t bother you anymore with comments on this topic, but promise me that you will consider online loans carefully and read the terms of service.

Second – trust

Second - trust

Trust wherever money is involved is very important. Of course, you are unlikely to be friends with a loan company, but you need to be sure that your interests are also somehow protected. Since parabanks are not covered by the PFSA supervision, you cannot exercise the rights that bank customers have and which are provided by the Banking Law. All your rights and options must be listed in the quick loan agreement, which is a civil law agreement.

Of course, paper is not everything – legal measures are usually chosen as a last resort. Use the internet to check your chosen loan company. Of course, everyone will have a lot of negative feedback: that employees are rude when they want to get back their debt, that they call for expensive payments, and that interest rates are high. That is why you have to read it – to know when and what consequences will affect you, if any. An online loan is no different in this respect from all other credit tools.

Third – speed

Third - speed

Non-bank loans over the internet are fast – that’s their main advantage. So if you can’t make an internal transfer, because the company has an account in another bank, you will lose time. This is a trifle that sometimes you do not need to worry, but in some situations you really need money in a quarter – then such details begin to matter, so focus on them too.

What is worth emphasizing: if you manage to find a company that uses the same bank as you, you will also benefit from a repayment: you will be able to do it at the last minute without worrying that the transfer will not reach the recipient on time.

Fourth case: the amount of the loan

Fourth case: the amount of the loan

Most loan companies offering fast online loans allow you to gradually increase the limit with each subsequent loan. Usually, however, it turns out that the first loan may not be as high as the advertising folders say. Sometimes, with a good payment, you won’t be able to take a PLN 500 loan, and sometimes you will get 800 instead of 1,200 – these are matters governed by internal company rules, and in fact no one will ever know why, and it works differently. It is important, however, that you look at advertising with some distance: not everything that is said in them will be possible for you.

Common sense is always included

Remember to borrow responsibly. Choosing a company can cost you a lot, but even more serious problems await those who are tempted by the idea of ​​easy money without collateral: the loan will have to be repaid , and the fact that your ability is not thoroughly verified by the lender does not release you from the obligation to apply for a loan carefully.

Post Author: Victoria Bowman