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Payday Loans

More stable cash flow with a payday loan

The cost of living is getting more and more expensive. Have a more stable cash flow with a payday loan. ozelincikizyurdu.com for further explanation

Many homes are finding it harder and harder to make ends meet, to fund large projects, or even to put money aside for the unexpected. Personal needs generally demand a high amount of money.

Unfortunately, income does not always provide for daily needs and does not allow savings. Thanks to the payday loan, financial institutions or banks give individuals the possibility of financing projects, making savings, without compromising the stability of the treasury.

 

What is the purpose of the payday loan for a more stable cash flow?

What is the purpose of the payday loan for a more stable cash flow?

For the time being, incomes are not always adapted to the increase in the cost of living and market prices. Households are therefore obliged to adapt their lifestyle and their daily expenses according to their income. But even if you do that, the money may still not be enough to support you. To save money, the return of money is simply insufficient. This is when it is advantageous to take out a payday loan.

When to take out a payday loan?

When to take out a payday loan?

Thanks to this type of loan, individuals can have the resources necessary to carry out a specific project. Once the credit application is accepted by the bank, the loan amount is paid in full to the borrower’s bank account. Thus, he can quickly realize his projects, while having the possibility of repaying the loan on a precise time margin. This reimbursement can be made over several months or over several years. This point is again very advantageous since the customer can repay over a long period.

You will therefore have the opportunity to save money. At the same time, the person who takes out the loan can finance specific projects, without affecting their daily budget. If you are facing a situation where payment for a large purchase is impossible, you should consider taking out a payday loan. Even better, the customer will have the possibility of having several loans or of making a credit grouping (that is to say, he can group all the personal credits in progress into a single credit). These alternatives allow for an even more flexible and easier to manage budget.

How to get a payday loan for a more stable cash?

How to get a payday loan for a more stable cash?

Like any loan, the payday loan requires the intervention of a few steps, which are, rest assured, not very restrictive. However, for your request to be accepted by the bank, the borrower must respect a few conditions and rules. In addition, he must meet exactly the profile required by the financial institution or the bank before being able to take advantage of the payday loan. These conditions are generally necessary to reassure the bank about your repayment capacity. By taking the plunge, you agree to repay the monthly payments on time. And under the conditions previously agreed with the lender.

Before even submitting your loan application files, you must define precisely the type of loan. Decide on the loan you will need for your project. Then, you must use online calculators to simulate the costs of your credit and also compare the loan offers offered by different financial organizations. It is only afterwards that you can choose the credit organization that suits you. Once your file is submitted, the bank will study your profile and your request. If you meet the necessary conditions, you will certainly get the loan.

Will people employed under civil law contracts have easier access to loans?

According to various statistics, four to five million citizens work on civil law contracts in Poland.

For the vast majority of them who do not have a classic employment contract (the so-called full-time contract), they are the only sources of income.

To this should be added the self-employed. According to CSO data, without including farmers, there are 1.15 million sole proprietorships on the market.

Civil law contract = no credit?

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According to bankers, an employment contract is the only right contract. Of course, we are simplifying it a bit.

However, the secret of the Good Finance is the fact that, despite the declaration, working on a civil law contract for a loan, we have nothing to count on.

Banks’ requirements for people employed in this way are much higher than for those who have a celebrated employment contract.

The loan application will be accepted most often when our mandate contract has been in continuity for at least a year, and preferably with one and only employer.

It doesn’t matter that we can do several jobs for different people each month. The amount of earnings does not matter. If we earn USD 5,000 in one month, but nothing in the other (because, for example, the execution of orders is prolonged), then we are an incredible customer for banks.

Those who work on a contract of work may have even worse.

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What else is a person employed under a contract of employment? Even with much lower earnings is a better customer. Although you may lose your day-to-day work like other people, full-time employment is a magic word that opens many gates.

Banks in this way limit the number of their potential customers themselves.

Not only those interested in loans. Simply, a customer who has once been cleared away is unlikely to be willing to set up an account in such an institution or entrust it with its savings on the deposit.

It would seem that in the face of such a high saturation of the labor market by civil law contracts, banks will be more open, but there is a lot to be missed.

The president wants to help but …

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Politicians have noticed the problem. Recently, the President took the floor in this matter and said that the availability of loans for people working under civil law contracts is a matter of “very simple changes in the internal regulations of public finance supervision and transferring them to the practice of banks”.

Without new provisions in the form of a bill, the president asked the Good Finance Investment Corporation to deal with the issue of the availability of loans for self-employed people and those working under a specific task and commission contract.

Will something come of it? Can the actions of the president and the GFIC cause a wider opening of banks? The truth is that banks are independent institutions that are guided by their internal rules.

Bank employees themselves calculate the creditworthiness of their customers. No politician or official has any influence on how banks behave or how they will treat the credibility of people who want to use their services.

Theoretically, the Good Finance Investment Corporation could issue a new recommendation or change the existing provisions. Although banks are not obliged to comply with its provisions, they are “only” recommendations.

However, they have always taken them into account. It is worth recalling here, for example, the issue of mortgage loans in Swiss franc or withdrawing from offers deposits bypassing the Good Finance tax, even before the entry into force of the regulations that changed the rules for calculating interest on deposit accounts.