In the last few years payday loans – loans for smaller amounts and a short repayment period, sometimes only a month – have become extremely popular among Poles. Without a doubt, they are an easy way to repair your home budget or deal with unexpected expenses. With the help of payday pay, we can pay for the dream vacation, camp or summer camp for a child, purchase of a car, washing machine or fridge that broke down in the least expected moment. In this way, we will also finance a birthday present for a loved one, successful family holidays or financial commitments left by our deceased loved ones. Finally, payday loans can also cover expenses for our daily lives – fees, subscriptions or grocery shopping.
Cash loans of this type are also granted easily and with a minimum of formalities – in most cases, only an ID card should be presented, with higher amounts usually a declaration (i.e. our declaration) of the amount of income achieved is required. Payday loans can often be obtained without leaving your home, i.e. in an online formula, quickly and conveniently. On the one hand, this makes them very popular, on the other, it causes that some people using them fall into a dangerous debt loop, and the only solution for them is a consolidation loan that you get without bik.
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As you can guess, this type of financing is not available in traditional banks. For people who apply for a payday loan consolidation online receive many flexible conditions. They are addressed to those consumers who want to combine their payday loans into one larger loan and thus gradually reduce their debt. The main mechanism of their operation lies in the fact that by consolidating several liabilities and spreading them over a longer repayment period, we get one, lower installment, the repayment of which becomes easier and more convenient. We have to remember about paying it only once a month, and its amount is adapted to our capabilities.
Non-bank institutions that are milder than traditional banks
Earlier delays in paying our various liabilities, not just payday loans, usually make our credit history not look good and prevent us from borrowing other loans – even those that would help us get out of the spiral of debt. Our problems with the timely settlement of debts are visible in the report generated by the Credit Information Bureau and constitute an impediment to all traditional banks. In such cases, a consolidation loan with a bad history in BIK becomes salvation, which allows obtaining additional financing even for people with large arrears in repayment of existing liabilities. Some non-bank loan companies operating on the market turn a blind eye even to delays in repayment of 90 days.
What documents will I need to consolidate the loan?
For most offers on the market, the consolidation loan for payday loans is charged with a relatively small amount of formalities. First of all, of course, we must have an identity document with a photo (ID card, most often also a passport or driving license); we also need to provide documents regarding payday loans that we want to combine (i.e. loan agreements and repayment schedules). The case is different in the case of the need to document our income: there are such non-bank institutions, which are enough to meet the two above-mentioned conditions, but usually, you will need either this certificate of the amount of monthly receipts (issued by the employer on a special print and/or certified by an account statement; civil law contracts and contracts, as well as retirement and disability pensions, alimony, social benefits such as 500+ or student and scientific scholarships) or a statement, i.e. our written declaration of income that we achieve every month. It is not verified, but by signing this document we certify that the data contained in it are true.
As it turns out, a consolidation loan without BIK is possible to obtain for the majority of clients who need help paying back payday loans and settling their financial situation. However, you should carefully read the rich offer of companies offering this type of loan, which are on the market more and more. Products proposed by them may differ – be it the maximum amount of financing, the repayment period or the documents required to obtain them. Thus, it can be seen that a loan with a consolidation bad history in BIK allows the financial straightforward to those who, often not through their fault, should have a leg.