Debt loan – what is it?
The results of statistical surveys prove that we are increasingly using all forms of financing of investments and purchases. Advertisements of banks and non-bank loan companies tempt with the attractiveness of their offers and the simple form of concluding loan agreements. Therefore, we are happy to make our dreams come true and repair our budgets with external financing. Excessive amounts of liabilities incurred, lack of caution in concluding contracts and unforeseen random situations may become a source of loss of financial liquidity.
When is it worth using a debt loan?
Life is full of surprises, the effects of which we are not always able to predict. It happens that the only way to settle your existing obligations is an additional loan, then another credit card, then another loan. The accumulation of liabilities may lead to loss of fiscal sustainability and we problema associated with logistics support for all liabilities. Sometimes a small stumble is enough and new problems are born. In the end, it turns out that we are falling into a debt loop, which we are no longer dealing with. At this point, it would be best to consolidate all liabilities into one repayable debt. However, this is not always possible. We lose our creditworthiness as a result of delays with repayment of subsequent obligations. Each request for a new loan at a bank or loan company entails changes in the credit history records in credit checker. This means that the conditions for obtaining additional financial support are becoming more and more excessive, and the unsuccessful credit checker report, whether it effectively prevents their acquisition or consolidation. A debt relief loan can be a salvation for this situation.
What is a debt loan and who can apply for it?
Loans and debt relief loans are designed to permanently heal the client’s financial position. This is an earmarked loan, intended for the repayment of the entire existing debt. A detailed financial analysis makes it possible to determine one installment, adjusted to the borrower’s condition, installments of all liabilities and spread their payments over repayable, extended loan period. It can be used by anyone in a difficult debt situation and adverse credit history, or even in debt collection and debt collection proceedings.
What documents should be prepared when applying for a debt loan?
Applying for a debt loan requires meeting certain conditions.
- It will be necessary to provide documents confirming the borrower’s identity.
- Filling out the statement regarding the financial situation and sources of earning. When concluding a contract with a banking institution, it usually has to be confirmed by the employer’s stamp and signature, or by attaching a PIT declaration.
- Documentation of having an active bank account and receipts existing in the account.
- A detailed, real and contractual description of your current debt situation. This involves specifying the total amount of debt, number of existing creditors and their names and kwo this period, and the resulting debt to each of them.