Life is unpredictable – everything can turn upside down in the least expected moment. It can happen that you will be out of work overnight, and all your savings have to be used for everyday shopping and fees.
Therefore, it was not enough for you to cover the current loan installments, which put you in the debtors’ database. What to do in that case? First, read my guide on How to get out of debt , and secondly – find out what loans are for those in debt without creditworthiness.
Creditworthiness – why is it so important for banks?
The borrower’s creditworthiness is one of the basic criteria that banks thoroughly analyze when examining loan and loan applications. The bank looks at the client’s financial situation by examining and analyzing his:
- age, number of dependents, occupation, etc.,
- monthly expenses and living costs,
- current debt (the number of loans, credits, credit card debt, guarantees, account limits obtained, etc.),
- credit history – to check how a given client is dealing with the repayment of current and current financial receivables.
Inquiries about a potential customer are sent to the Credit Information Bureau and debtors’ databases so that the bank can learn about it as much as possible. Each of the above criteria is appropriately scored – the more positive for a database, the higher the credit applicant’s credit score is. A very common mistake made by borrowers is sending applications to many financial institutions. Each inquiry is visible in BIK, which means only one thing for the bank – the client is not very reliable, because no bank wants to provide financing to him.
What do you have to do? First of all, compare offers and choose the one that is the most favorable. If you know that your creditworthiness is not the best and banks and loan companies will not necessarily provide you with financing, check loans for those in debt.
A loan for those in debt without creditworthiness
If your current liabilities are overwhelming you, credit and loan installments are too high, you can’t cope with repayment, and banks reject your applications for further loans, first of all remember that this is not a reason to get nervous and give up. There is no situation without a solution.
Initially, you can check what a consolidation loan is and analyze if this option is right for you. If the deadline for repayment of a non-bank loan is approaching, then you should also familiarize yourself with the option of refinancing the loan . If none of them is for you, then know that there are loan offers on the market without creditworthiness. What does it mean?
A quick loan with no creditworthiness online
I analyzed the offers available on the Polish market of non-bank loans and found several of them that enable financing for indebted persons. These companies do not check clients in the Credit Information Base and allow them to have liabilities in another institution (credit or loan).
There are not many of them, but thanks to them you will be able to apply for additional funds without checking your credit history in the debtors’ databases. It is also worth checking the latest payday loans, because new loan companies often offer more favorable terms and promotions.