How to avoid paying back the payday loan?

A significant proportion of people who decide to pay for a payday loan are looking for a loan, which will be granted only upon presentation of an ID card. It turns out that among the so-called parabanks, there are plenty of companies that actually borrow money only on presentation of their ID card. This document confirms personal data and citizenship, i.e. information without which money cannot be borrowed. It is worth noting that nowadays more and more companies allow the possibility of granting loans via the Internet. In this case, you don’t even have to appear in the branch to present your ID. You can scan it and then send it by email.

Certificate of employment and income


While an ID is a document that is always required, only some lenders require a certificate of employment and income. It is usually the case that people who decide to take out payday loans do not need to provide any documents other than an identity document. This significantly shortens the procedure for applying for a loan, and at the same time makes it within reach of those who have no chance of a bank loan because they work black or on a so-called junk contract.

Chwilówki are quick loans, which are handled by so-called parabanks. Currently, such companies can be found in virtually every city. They are constantly growing in popularity, primarily because the formalities to be completed when taking payday loans have been kept to a minimum. Therefore, many people ask the question what documents are necessary for a loan from a parabank to be within our reach.

Some loan companies expect the client to provide a bank statement covering the last few months. This statement is an alternative to your earnings certificate. The statement confirms confirms regular account receipts. It also shows how high our monthly expenses are.

What does Loan Without Certifications Mean?

What does Loan Without Certifications Mean?

Anyone who has decided to borrow money would like the loan decision to be taken right away. Meanwhile, you have to wait a bit for her. In the case of parabanks, which provide so-called payday loans, everything is done really quickly anyway. Let’s see what customer verification methods are available.

Verification using a bank transfer – This verification method is perfect for payday loans. The lender asks the person applying for a loan to make a verification transfer. Importantly, this transfer must be made from an account that the owner is a person who wants to borrow money. His task is to confirm our identity. So if it is made from another person’s account, it will be useless. The lender will only start processing your application when the transfer we have made reaches its account. No transfer means no chance for a loan.

Loan companies usually verify the identity of their clients using the identity card provided by them. The loan application should include the series and ID number. Sometimes a photocopy of the document is required, which is then attached to the application. If we borrow online, we must provide a scan of your ID card. However, you can do this by using email.

Parabanks use verification not only using an identity document and bank transfer, but also a special application. In order for our identity to be confirmed, you must log in to your bank account. The application will automatically download all data necessary for the verification process. A lot of people will ask here if it is a secure solution. It should be emphasized that such applications have really solid security. Therefore, you don’t have to worry that your account access data will fall into the wrong hands.

Where’s the Cash Loan?


In any case, it is a good idea to try to negotiate with your creditors. It must be remembered that they do not have to bring the expected effect, but they are a much better solution than waiting for the case to be in court and a bailiff will finally knock on our door. There are a few rules to keep in mind when starting negotiations. First of all, under no circumstances should you take a claim attitude, raising expectations of cancellation of debt. However, it is worth presenting your life situation explaining exactly why such serious financial difficulties occurred. You should also think about the amount that you can easily give back to your creditors every month.

In the case of the debt spiral, it is really important not to take further loans or credits. They will not help in this situation. Instead, they will increase debt and the number of creditors. Therefore, it is definitely better to try to negotiate with creditors who are already in debt. With a little willingness on their part, it will be possible to set a repayment schedule such that the debt will gradually decrease.

Consumer bankruptcy is a solution that the law gives us. However, it should be remembered that the declaration of consumer bankruptcy is connected with court proceedings. It is possible only if the strictly defined conditions are met.

If we have fallen into a spiral of debt, it is worth checking the issues related to debt aging very carefully. Maybe we will have some luck and it turns out that the debt has expired. In this situation, there is no question of paying off the debt. It should be remembered that the claim is time-barred after ten years, in the case of interest it occurs after three years.

Taking out loans without thinking can end up in serious financial trouble. It can lead to falling into a so-called debt loop, from which it turns out to be more difficult than it might seem. Here are some tips on what to do if {{at some point we fell into such a debt loop | we found ourselves in such financial trouble |.