Online lending companies tempt their clients with the vision of receiving the money within 15 minutes. It is good to know, however, that in order to receive a loan within a quarter of an hour, several conditions must be met. What? The answer to this question can be found in today’s article.
Popular payday loans are a great way to quickly repair your home budget. Non-bank loans are perfect when the money is needed for already, and preferably yesterday.
Additional funds can be reached by a person with an unfavorable credit history and the one whose data has been entered in the register of debtors – KRD, Erif Register of Debtors or BIGInfo Monitor (for loans without BIK and BIG you can read in this article – hyperlink).
Get up to $1000 with a bad credit payday loan
Borrowing money through a bad credit payday loan at 1. PaydayNow is very easy. To take out a loan in 15 minutes, all you need is a computer (or mobile device) with internet access, a mobile phone, and an account number. The vast majority of lenders do not require employment and income certificates.
Step 1 – choose the loan amount and repayment date
The first step to getting extra cash should be a visit to the lender’s website and your preferred loan amount and repayment date.
Step 2 – complete the loan application
The next step should be to complete a simple loan application. What information should I provide to the lender?
The lender will ask you to provide information such as:
- first name and last name,
- PESEL number,
- series and number of identity card,
- mobile phone number,
- e-mail address,
- Bank account number,
- residential and registered address,
- the amount of income,
- information on financial liabilities.
Some lenders may require you to provide information about your marital status, education, or vehicle ownership. Such data will help them make a precise assessment of your loan repayment capacity.
Interestingly, as much as 60 percent. loan applications are rejected due to substantive errors in content. So try to complete the application carefully and thoroughly.
Step 3 – verify your details
When the lender receives the completed application, he will ask you to verify your personal details. The verification process is designed to ensure the security of both parties to the loan agreement and to eliminate possible fraud and abuse.
To verify the data, a symbolic amount must be sent to the lender’s account. Depending on the company, it is from 0.01 to 1 USD.
Once the money is credited to the lender’s account, it will be possible to compare the bank account owner details with those contained in the application.
If the data are the same, your application will be further analyzed.
If the data do not match, the application will be automatically rejected.
Data verification and the rate of loan receipt
Not everyone knows that the method of data verification can have a significant impact on the speed of obtaining a loan. Do you want to get a 15-minute loan? Check how to do it.
When making the verification transfer, make sure to send money to the account in the bank where your account is also located.
Thanks to this, the funds will be credited almost immediately, and the lender will be able to quickly analyze your application.
By sending money to an account in the same bank you will be able to receive money even within 15 minutes.
Let’s check what happens if you send a verification transfer to an account in another bank.
Verification transfer to an account in another bank
By transferring money to an account at another bank, they can reach the lender’s account only on the next business day. Even worse, if you make a transfer, e.g. on a Friday evening. In this situation, they will not be credited to the lender’s account until Monday.
And this means that instead of receiving the money within 15 minutes, you can wait for several hours or even several days.
Another way to quickly transfer funds
Another way to guarantee payday payments in 15 minutes can be data verification through a special application. We wrote about which companies enable data verification by the application in this article.
You do not need to have any money in your account to use the application. You also do not need to install additional software on your computer.
You will verify the application on the lender’s website in the online loan application process.
The application quickly and securely connects to your bank account, providing the lender with the necessary information. Thanks to this, he will be able to quickly analyze your application and pay the payday in 15 minutes.
Think before you borrow
The huge availability of quick loans means that more and more Poles are reaching for them. As you can guess, many of them have serious problems repaying their liabilities.
Before you reach for payday loans online, make sure that your budget can handle such a load. Remember that you will have to pay back the entire amount borrowed once within 30 or 60 days. Although loan companies make it possible to take payday loans in 15 minutes, repayment may prove more difficult than you thought.
Consequences of delays in paying the loan online
If you do not pay back the loan on time, the lender will have the right to charge you with additional costs resulting from the provisions of the contract.
If his actions do not bring the expected results, the case may go to an external debt collection company or court case. The result of court proceedings can be extremely stressful and unpleasant bailiff execution.
Deterioration of credit history in BIK
Due to delays in repayment, the lender will also be able to provide information on the debt to the Credit Information Bureau and debtors’ registers (National Debt Register, Erif Register of Debtors or BIGInfo Monitor).