Payday loan received immediately
Loans are only given with a good credit rating. payday loan is an alternative that has other advantages in addition to less collateral.
Payday loans have the great advantage over banks such as Sparkasse, Commerzbank or Volksbank that less or no collateral has to be deposited. Collateral such as a property or valuables is optional and can be flexibly negotiated with the lender. As a result, the creditworthiness and the probability of acceptance of the loan increase, as with traditional credit. Usually a regular income is sufficient.
Credit institutions often charge high fees, in addition to installments and interest. For payday loans, these additional costs are significantly lower. In addition, there are usually no clauses in the contract, which allow salary garnishment, as is customary in bank loans.
The payday loan is also recommended because it is tied to a fixed repayment plan. While other types of credit such as the credit line do not offer this possibility, a payday loan has clearly defined terms that are transparent and easy to understand. For laymen incomprehensible formulations do not exist or can be clarified over the direct contact person.
At the same time, however, there is an increased risk that the payment will not be made as expected. Especially with private lenders, which exert less pressure compared to banks, a late payment can occur quickly, which is connected with additional costs for both parties. Despite payday loan so the payment plan must be adhered to in order to avoid problems.
Flexible use – free use
A payday loan with immediate payment may be used in many ways. While credit and installment credit at the bank are usually tied to a specific purpose, the payday loan can be used flexibly. Because private lenders each make different demands on the borrower, the details must be discussed in advance.
Payday loan intermediaries – Great offer
There are many private credit providers . The choice for the borrowers is so large and offers for different sums, uses and credit levels the right offer. At the same time, the diverse market is making it difficult to find a trustworthy lender.