There are few reasons why you can delay reimbursement. Whatever the causes, delays greater than 30 days automatically lead to reporting to the payday loan Bureau. Depending on the reporting policy specific to each financial institution, this period may increase to 90 days, in which case it is almost impossible to get a new bank payday loan over the next 3-5 years.
There are cases of reporting to the payday loan Bureau due to ridiculous amounts, such as the charge for managing a debit card that has not been used anymore. So, pay attention to the accounts you’ve opened and whose existence you may have forgotten: I can create problems if you do not close them in time.
Where all banks refuse you, there is an escape:
Payday loans specially designed for bad payers
Like any vacuum, the one created by the banks’ refusal to payday loan people with a negative payment history was covered by other financial institutions with different business and development plans. Who offers fast online payday loans for bad payers?
Policies associated with payday loan risk differ from one institution to another. The higher the risk, the more drastic the compensation measures. This translates in particular into higher commissions. Everything has a price, is not it? You should be prepared to borrow at higher costs if you have been reported with delays at the payday loan Bureau.
How can I find out what data is recorded about me in the payday loan Bureau?
If you know that you are late in paying rates, but you do not know exactly when that happened and you want to evaluate your situation, you can check your BC status in two ways:
- to the financial institution from which you contracted the payday loan, or
- directly from the Bureau’s website. Go to the web page and follow the steps. If you have in the meantime changed your phone number (you do not have the number you signed up with when you took the payday loan), you need to go to the bank to update your contact details, because you will not be able to access it online account in the absence of the code sent on the original phone number.
If your situation reported by the Bureau prevents you from taking a payday loan from the bank, you probably wonder:
What payday loan can I get if I’m in the loan Bureau?
It depends first and foremost on the amount of money you need and how quickly. Banking practice recommends granting the next payday loan five years after the last report to the Bureau, although most banks do it faster. However, if it has not been past 3 years since the payday loan that caused delays, the chances of getting a new payday loan from the bank are almost null.
However, as mentioned above, some IFNs pay bad debts. Some NFIs group these services into stand-alone categories, sometimes called fast pay -as-you-go payday loans, or urgent bad payday loan, which come in a package with certain conditions different from the usual payday loans. Our recommendation is to first try to get a standard payday loan and only after a possible refusal to apply specifically to a bad payday loan . Why? Because some IFNs simply check the payday loanworthiness of your customers. This way you can benefit from better payday loan conditions.
Bad payday loan for Bad payers
Surely, if you know you’re on the pay list, you have to wait longer for your payday loan to be approved. Simply because in these cases an opinion from a superior to standard situations is needed. But that does not mean that you can not get a quick payday loan.
If you need an emergency payday loan of up to 1500RON, it is very possible that you get the money the same day if you send the request until noon.
The conditions for granting a bad payday loan for bad-payers are not difficult to meet. They differ from one institution to another, with subtle variations. In principle, the applicant must meet the following conditions:
- be at least 18 years of age;
- be able to prove a stable monthly income;
- have a bank account where the payday loan can be transferred.
In the category of stable monthly earnings are included: salary, pension, dividends, rents from registered contracts, copyright – about any proven source of money.
How can you request a bad payday loan for bad payers?
Access non-banking financial services comparison portals to check updated offers and lending possibilities for debtors. Once you’ve decided which offer is more advantageous for you, fill in your online payday loan request, which takes two to three minutes. If you are in the first application, you will be called by an institution analyst for some additional details such as work experience, sources of income, seniority in your current job (or details of your earnings activity ) and other information that might be helpful.
It’s also good to keep a scanned copy of your ID in your computer so you can send it by email if requested.
What you can do to avoid being a bad plague?
According to Standard & Poor’s Ratings 2017, Romania ranks 124 out of 143 in the world, ranked last in Europe, in a global ranking of financial education. It is no surprise that less than one in three Romanians manage to save, and of them, the vast majority (70%) put aside only 100 lei a month.
This statistic translates into the fact that in our country there are a lot of bad-payers, often so unfairly cataloged, because most of them have come to this situation independently of their will, having a choice between paying their rate or to buy food for myself and their families.
There are, however, some simple rules that, applied with discipline, can make the difference between being or not being on the pay list:
- create a budget tailored to your needs;
- keep track of expenses, keep all the receipts / receipts of your purchases and organize them by categories (food, utilities, clothes, entertainment, etc.). Set up a day of the week to centralize them and track their evolution. You will definitely draw unexpected conclusions!
- avoid shopping based on momentum. In this regard, a shopping list can be of great help.
- reevaluate your monthly subscriptions. Check again the offers of operators and service providers: telephone, internet, cable TV, electricity, gas, etc.
- looking for information about refinancing bad payday loans.
There are many reasons why you might become plausible. Sometimes it’s a trivial mistake, sometimes unfortunate happenings that generate financial complications.