The payday loan is the financing of a sum of money, by a credit institution, at a usually fixed interest rate, which the debtor must repay according to a constant installment plan. The payday loan belongs to the category of non-finalized loans, defined as consumer credit, that is, not tied to the purchase of a specific good or service.
Unlike mortgages, payday loans do not require the guarantee of a real estate purchased by the debtor that can cover any insolvency. Given the high risk for the creditor institution, payday guarantees such as the signature of a guarantor are often requested.
The payday loan can be defined as a loan with no target obligation. It is aimed at individuals who, when they need liquidity, want to request money from lenders. Usually, you can request a loan from $ 1,500.00 to $ 30,000.00.
The term payday loans vary from one to ten years. It is also possible to decide that the installments will be debited from your current account or through the payment of postal bills addressed to the financial institution, this last payment method increasingly set aside because if you forget or delay the payment of two or more bulletins are reported to the databases, jeopardizing the possibility of any future requests. We recommend charging the installments to your bank account.
Payday loans are non-finalized loans that provide for the loan of a sum of money at a fixed interest rate.
No credit check payday loans online from $200
It is possible to apply for payday loans for poor credit online. Do you know what the best payday loan for poor credit is? A decent site for no credit check loans is GreenDay loans, where you with bad credit can get a loan.
Among the many advantages of online financing, there is the fast, immediate request, in any place and from any device and, consequently, a quick response from the lender.
The rates of online loans are lower than those offered by banks and it is easier to obtain approval for an online loan. In addition, the opening fees are very low. That’s why the best payday loan is an online loan!
Who can access payday loans?
Only those who are not protested or reported in databases and therefore bad payers can apply for payday loans. In case of reports, it is possible to access the assignment of the fifth of the pension or the assignment of the fifth salary or loan with proxy suitable for all employees with permanent contracts of government agencies, local, private companies and pensioners.
Is it possible to pay off my payday loan early?
Yes, it is possible to pay off the loan in advance before the contract expires by paying off the residual capital and paying a penalty of no more than 1% of the amount financed.
When do you apply for a payday loan, how long does it take to keep information in databases?
The information is kept for the time necessary to process the investigation and up to 180 days from the request for funding. In case of refusal of the request by the bank or of renunciation of the financing, they are kept up to 30 days from the updated date.
In case of late payment of the installments of a payday loan, the information will be entered into the databases, marking the user as a bad payer.
Payday loan late
When you have paid two installments or monthly payments of the payday loan late, how long does it take to keep the information in the databases?
Usually, information regarding late payment of payday loan installments is kept for up to 12 months from the regularization of the payment.
When you have paid more than two installments or monthly payments late, how long does it take to keep the information in the databases?
Usually, the information regarding the delayed payment of the installments of payday loans is kept up to 24 months from the regularization of the payment.
When you have not repaid the payday loan for arrears and unpaid bad debts, how long does it take to keep the information in the databases?
Information relating to unsecured payday loans is kept for up to 36 months from the date of the expiry of the loan contract or from the date on which the last update of the data was necessary (occurred following subsequent agreements or other relevant events relating to the refund).
Consented to the processing
You have consented to the processing of positive information, you have repaid the installments regularly and you have no delinquencies or delays in paying payday loans. How long does it take to keep information in databases?
Information regarding the positive repayment of payday loans is kept for up to 36 months from the date of termination of the relationship or expiry of the contract or from the first update made in the month following these dates.