A Non-bank Loan for Everyone?

A quick loan in a loan company, like a bank loan, is not for everyone. Simple rule: you do not have to borrow. You borrowed? Return on time.

According to loan companies, 1/3 of applications from new clients are rejected at the initial stage. The main reasons for this are the lack of creditworthiness or bad credit history.

Creditworthiness and non-bank loan

Creditworthiness and non-bank loan

It is not true that loan companies do not examine the creditworthiness of consumers. Such an obligation results from the Consumer Credit Act. Each such entity that deals with such services, like banks, investigates the creditworthiness of the consumer. They also use their own scoring in a sense. Many factors can be distinguished here, eg type of employment contract, income, age or place of residence. Loan companies know which target groups in which regions of the country are the best clients. Loan companies have their own bases for their borrowers, and more and more of them use the Retro database.

Exchange of information between loan companies

Exchange of information between loan companies

In 2016, the base was launched, allowing loan companies to exchange information about loans that was granted to customers in a specific loan company. An additional advantage of such a base is that entrepreneurs and banks will also gain access to loans that have not been repaid through BIG.

Before you choose a loan company and borrow money

Before you choose a loan company and borrow money

There are many factors to consider before choosing a company. If we do not have to, we do not use companies that nobody knows or have far too many negative opinions. They do not have a website or the site can imply unreliability with just the appearance or substantive content.

The loan company must meet the requirements of the Anti-usury Act and capital requirements. Also read: Non – bank loans online .

Where do you meet such ” shady ” companies? Adverts on poles, on advertising portals or on forums. They often provide a mobile phone number or a private e-mail address. The website suggests that it is a site with social loans, in fact, it turns out that the company earns on expensive phone calls.

In addition, it is worth checking whether a given company is not on the list of KNF warnings.

It is obvious that we do not sign any agreements (regulations, annexes, attachments) before we get to know them carefully.