Bad credit loans guaranteed approval: Simple, fast short
The formalities for a bad credit loan guaranteed approval from https://bridgepayday.com/guaranteed-loans-bad-credit/ are kept to a minimum. When applying for this loan, the customer will be asked for the information on the ID card. This is the only document you must have to be able to apply for financial support.
The lender does not require any additional documents or certificates. However, the loan company reserves the right to verify the data provided by the client, e.g. with the employer. Each loan application is considered individually, but sometimes it is necessary to verify the amount of remuneration with the employer.
Money from the loan can be used for any purpose. The lender is not interested in what the customer wants to spend money on. For him, the most important is the timely return of borrowed funds. The purpose of the loan is irrelevant when making a loan decision. Therefore, borrowed money can be spent on car repairs, holiday trips, buying new home appliances or electronics, everyday life, paying bills or rent, buying medicines, performing medical examinations, setting up an orthodontic appliance, renovating an apartment and many, many more.
Is the information provided in the quick loan application secure?
The data that customers provide in the loan application is secure. All customer information obtained by the loan company during the application and grant of the loan is protected against access by third parties. The lender processes information about the borrower in accordance with the law and it is treated as confidential data.
Providing data in the loan application is voluntary. However, it is a condition for concluding the contract and granting the loan. Failure to provide data prevents the conclusion of a transaction. Customer data may be processed for the following purposes:
- implementation of the provisions of the contract
- determination and pursuit of any claims by the creditor
The data of borrowers are stored for the period specified in the law.
Each customer has the right to access their personal data, correct it, delete it and limit processing.
Can I apply for a quick loan if I have another outstanding commitment?
People who have a bank loan or a loan from another institution can apply for a loan. The condition for granting the loan is, however, regular repayment of liabilities towards other entities and no negative entries in the debtors’ registers. The most important thing for the lender is for the client to have a positive credit history.
Usually, people who already have a loan in one company and want to use its services again, have to repay the first commitment to receive another.
What is the APRC? What costs are borne by the borrower?
APRC is an abbreviation of: Actual Annual Interest Rate. It is an indicator informing the client about the total cost of the loan, which he will incur if he decides to use the services of the lender. APRC is expressed in percentage terms on an annual basis. The introduction of one indicator enables quick calculation of the total cost of the loan. The method of calculating the APRC is set out in Annex 4 to the Consumer Credit Act of May 12, 2011 (Journal of Laws of 2011 No. 126, item 715, as amended).
The total cost of the loan, i.e. APRC, may consist of:
- preparation fee
- administrative fee
- fixed interest rate
- possible insurance
The cost of the loan depends on the total loan amount and loan period.
How to pay off a quick loan?
A quick loan can be repaid directly to the bank account of the loan company – the number should be given, among others in the loan agreement. In the case of a home-serviced loan, the lender’s representative personally receives the installments of the liability.
An attachment in the form of a loan repayment schedule should be attached to each loan agreement. This document specifies the dates of repayment of subsequent installments of the liability.
What are the consequences of not repaying the loan on time?
The lender is aware of the fact that sudden random situations may occur in life that will prevent timely repayment. In this case, you should not avoid contacting the loan company. On the contrary, people who are unable to pay back the loan should immediately contact the lender’s Customer Service and honestly admit the problem. Loan companies have the appropriate tools that are helpful in paying off their outstanding installments without stress, e.g. deferral of debt repayment.
Lack of timely repayment of the liability and avoiding amicable resolution of the case may result in initiating debt recovery proceedings. The lender also has the right to provide information on overdue liabilities to Economic Information Bureaus. This situation may adversely affect the subsequent assessment of the customer’s creditworthiness.
Why was I refused a loan?
A loan may be refused if the criteria required to verify the client are not met or the client receives a negative creditworthiness assessment.
The loan application may be rejected, e.g. if the applicant:
- he is less than 18 years old and has no ID card
- he is not a Polish citizen and does not live in Poland
- is on at least one of the registers of debtors
- has an unpaid liability with the same loan company
- the loan form contained errors
Reliable loan companies, when granting loans, follow the principle of responsible lending. If they refuse to grant a loan to a particular customer, they have good reason for doing so. The mere submission of a loan application does not guarantee the granting of cash.
Sometimes loan companies offer an additional option for people who cannot get loans on standard terms. It can be so-called Lombard loan, i.e. a secured loan.
Can I withdraw from the loan agreement?
Persons who, after signing the loan agreement and receiving the funds, find that they do not need them, may withdraw from the loan agreement. They have 14 days from the date of the contract. Each loan agreement should contain information on how to withdraw from it. You can also contact Customer Service for additional information.