15 tips before you sign a non-bank loan agreement, not just online.
Below are a few tips that you should take advantage of before you decide on loans, installment loans and choose a loan company.
1. Avoid companies that charge fees for processing a loan application.
2. Do not borrow in companies, from people whose adverts you find on “poles”, giving only the phone number.
3. Check the credibility of the loan company on the internet or contact (Association of Loan Companies). On the website of the Polish Financial Supervision Authority (Polish Financial Supervision Authority), read the list of companies that are suspected of a parabanous activity without the required license. Do not use the services they offer.
4. Do not sign bills of exchange, statements that are disproportionate to the amount of money you borrow. By borrowing, for example, 2 thousand PLN, do not sign a bill of exchange for 10,000 zł.
5. Avoid companies where the cost of borrowing money for 30 days is more than 50% and more additional costs. Borrowing, for example, PLN 1000, you must give at least PLN 1,500.
6. Always borrow only as much as you need.
7. Do not take a loan if you do not know its total costs.
8. Compare different offers from loan companies. Find out what is the best time, check the table of charges, the cost of extending the loan, etc. Read the opinions of other people before making a decision, for example on loan forums.
9. Before signing the contract, make sure how much money you have to give and when.
10. Do not borrow money in a loan company to pay off another liability. Contact the creditor (the company that gave you the loan), inform about the difficulties in repayment of the loan and negotiate the repayment terms.
11. Do not sign a contract if anything is incomprehensible. Ask for clarification of a company employee, lawyer or a person who has experience in this area.
12. Before you sign the contract, read it carefully. See point 11.
13. On the internet you can compare loans in a simple way using the non-bank loan cost calculators.
14. Remember to comply with the terms of the loan agreement ( loans). Settle your commitment in a timely manner. This way you will avoid additional costs, and thus it will be much easier for you to borrow money again.
15. Improve the state of your home finances, learn how to properly manage your home budget, so that you can avoid using loan companies in the future.
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