A loan for proof and without certificates, and in 15 minutes it sounds really good and can be a salvation for those who need to repair their home budget very quickly. payday loan is an ideal product to meet these needs, but there is one problem – we do not always get it in the desired amount, even if the lender allows a really large maximum amount (see: “The highest amounts of free payday loans – a review of companies”). Some people will decide on an installment loan, and some – for a few payday loans in various companies. Is such traffic possible and, above all, is it safe?
Why didn’t I get payday pay?
There are various reasons why a loan company will not want to grant a loan. Most often it is a lack of required creditworthiness or adverse information gathered in the BIK database or debtors’ registers. Less often, these will be formal errors in the loan application, failure to comply with the procedural conditions (e.g. failure to send a verification transfer) or an existing but unpaid payday payday at the same company. While errors in the application can be rectified quickly and there are often no obstacles to apply for a loan right away, the lack of creditworthiness is an insurmountable obstacle. In this case, the loan may not be granted, but the lender may also decide to grant a lower amount. The borrower therefore has nothing else (at least in his opinion) to go elsewhere and get the missing cash there – all the more so if he is targeting free payday loans.
How many payday loans can you take?
Formally, there is no limit to taking out several loans at once, especially if you apply for them all at the same time. The problem will not appear until the information about the loan has started appearing in BIK. If there are several such loans, the lender may find that this is too much of a burden on his creditworthiness and he will not grant another one. However, the important question that the borrower should ask himself is whether he can have several active payday loans at the same time, but whether he should. The payday loans have the fact that they have to be repaid most often within 30 and at the latest within 60 days. The accumulation of several loans will certainly cause problems in paying back and can lead to a spiral of debt.
Where do we get a few payday loans at once?
No loan company specializing in payday loans will grant two loans at once. Recognized lenders such as Viloan and NetCredit know that this is too much of a burden for the borrower, but also a significant risk for the borrower. This will not be the case if you are a regular customer of the company – the option to take another payday loan will not arise until the previous payment has been made. This principle is observed, the more that even now free payday loans are in free amounts.
However, a second active loan at loan companies is possible. How? First of all, this facility is only available in the case of payday installments, and secondly, the deadline for receiving the next loan is timely repayment of the previous one and payment of at least half of the installments. Such a solution is proposed, among others Zeka brands (up to $ 10,000 for 24 months), Astro Finance (up to $ 25,000 in 36 installments) and Ratkomat ($ 10,000 for 24 months).
Choosing the loan amount at Viloan
Not always a few payday loans must mean that we do not have adequate creditworthiness – we simply decide on a smaller amount, because it is needed at the time of application. However, the fate is different and sometimes a sudden expense will come out before we can repay the previous loan amount. Fortunately, the lenders have anticipated such a situation – thanks to this you can use the option of choosing the loan amount, available, among others, from Viloan.
What is this about? If the borrower has adequate creditworthiness, he can increase the amount of the current loan, but only within the set limit – both the one resulting from the terms of the offer and the creditworthiness test. Viloan offers payday loans up to $ 3,000 as part of the first payday payday and up to $ 7,500 for regular customers. If, at the time of testing the creditworthiness, Viloan decides that the customer can borrow $ 5,000 (he must borrow at least for the second time) and he will take only 2,000, then before the final repayment date he can borrow another 3,000 $. It should be remembered, however, that the additional amount does not mean an additional repayment date, but must be repaid with the first loan.
Alternatives to several payday loans at once?
Although several payday loans are possible at the same time, this solution is unreasonable and an act of desperation. In the meantime, if you think, there are several other options that would help solve the problem of too little. The borrower may:
- Check the conditions for granting payday loans – some companies are more likely to grant a larger loan amount than elsewhere. These can be loans without BIK, or even loans for those in debt that have less requirements – the loan comparison website will definitely inform you about all conditions.
- Opt for an installment loan – installment payouts are often available in twice as high amounts, up to $ 20,000 without certificates, and require much less creditworthiness.
- Use a social loan – they are a form of installment loan, but as it is a form of loan from private individuals, you can count on the investor deciding to borrow money even if you do not have adequate creditworthiness.
Above all, however, the borrower is advised to use reasonable judgment and diligent assessment of his financial capabilities – higher loan amounts will come over time.