Sometimes in life there are situations that we need a quick injection of cash. Loss of job, unforeseen renovation or unfortunate accident are just a few of the possible events that will force us to find a way to obtain additional funds. You can then use the banking services.
But what about people who are not creditworthy?
They often decide on short-term loans. ,, chwilówki “. It is a good way in case of sudden, necessary events because to receive payday pay we do not have to apply for it as in the case of a bank loan. However, the solution has a price. Payday loans are definitely higher interest rates. In addition, the repayment term is also an obstacle to repayment. When deciding to take out this type of loan, we usually have to pay the money back together with interest within 30 days. Often, this is a period that does not allow people who have fallen into momentary financial trouble to solve all problems. They then decide to take another loan and may run into real financial trouble.
A better alternative for payday loans
Fortunately, for some time now we have more and more often come across the offer of short-term loans with the possibility of splitting the debt into installments. Payday loans are definitely safer, and in many cases also a more favorable solution to a financial problem. The installment amount and the loan repayment length are set at the time of writing the contract. Thanks to this, the borrower can track his monthly revenues and expenses and then estimate which repayment terms will suit him. In addition, installment loans are cheaper in general due to slightly lower interest rates, which are also good against the background of the offer proposed by banks. At present, not only individuals but also companies can benefit from installment payments. It is a good way to raise funds for the development of an enterprise, especially at the beginning of its activity, when banks are not yet ready to grant loans.