In Poland today there are many people who should have had a leg to pay a bank loan, which did not have to be their fault. There are also many working on so-called “junk contracts” or completely “black.” These people, however, they earn an income, although almost every bank will refuse to grant them a loan. So where can they still apply for a loan?
People with undocumented income and those whose credit history at Credit Information Bureau is not the best are a certain group that is unable to take any loans at the bank.
Thus, a kind of niche was created in the financial market. Thus, more and more non-bank companies began to service such clients and enable them to take out loans without creditworthiness. These companies, of course, earn their own money but bear the considerable risk of paying money to uncertain customers.
Today is probably the best time for people without creditworthiness
There are so many different institutions on the non-bank market that they really have plenty to choose from. Even an unemployed person is able to apply for a loan, which until recently seemed impossible.
What’s more, there are more and more parabanks, also from the west, increasing competition on our domestic market. However, this situation results in lower prices/costs of non-bank loans.
It’s easy to find a company on the internet that is willing to provide a loan based on a statement – without a credit check. Unfortunately, the price of such a loan will far exceed the offers of competitors checking the Credit Checker database. However, most borrowers using the services of such companies are forced to pay more to be able to get money in a crisis.
Creditworthiness also depends on the amount of income received
Therefore, not every person with an employment contract and a positive history in Credit Checker databases will receive a bank loan. Creditworthiness is calculated taking into account both the amount of documented income as well as the fixed costs incurred, which include: fixed fees (e.g. for rent, utilities, telephone), number of dependent children and other liabilities repaid (bank loans, credit cards, overdraft, etc.).
Many people without creditworthiness have been forced to take out a loan against real estate (e.g. private housing). However, when deciding on such a solution, you must remember to realistically choose the loan repayment period and the amount of the monthly installment to your financial capabilities. Otherwise, you can easily get rid of the apartment and, as a result, lose your roof over your head.