What to do if there is an urgent need for money, but there is none and is not expected? Borrowing from relatives and friends is a good alternative, but they may also not have available funds at the moment or the required amount. Yes, and there is such a saying: "If you want to get hold of the enemy - borrow money to a friend." Now, many live their lives with this creed. Indeed, one does not want to lose relatives on such mercantile grounds. And nowhere to go. Nowhere without money. In this case, banks offer people loans. However, it is not always possible to take them there. Either the salary is small, the age is inappropriate, or the history of loans is bad. So, where to get loans with bad credit history?
What is a loan?
We urgently need some amount of money, well, or not urgently, but it is still needed. We need a thing or just cash. And now financial institutions, namely banks, are ready to give us money with an obligation to return them and additionally pay a certain percentage for use. This is the loan. It’s not always possible to accumulate, collect, borrow a large amount, but paying it, albeit with interest, but a little bit, in small shares, is much easier. This is what the majority of the population thinks, and not only in Russia, but also around the world. In America, such loans are a sore point. People buy absolutely everything on credit, and the next generation is sometimes calculated with their debts: children and grandchildren. Our situation is slightly different, but the ability to use a large amount right now, without waiting for some treasured moment, attracts many people. This leads to skipping payments, with all that it implies. Not every bank will give out a loan with bad credit history and delinquency. And here the problems begin ... And the question arises: "Where can I get a loan with a bad history?"
Loans in our life
Life situations are completely different. Some people get into a debt hole by naivety, some simply do not think about the consequences, others use such loans wisely and even derive considerable benefit from such money. It all depends on these very situations and the structure of human thinking. For example, the most fashionable phone can wait if the family budget is not ready for such a test, but operations, training, separate housing for a young family or investing in business is a good reason to use someone else's money. Some people, having caught up on the stupidity of loans for entertainment and completely unnecessary things, come to an important moment when borrowed funds are really required and are refused. And again they are overcome by the question: "Where can I get loans with bad credit history?"
Types of loans
For different purposes, there are different types of loans. And skillful knowledge and use of these financial instruments can have a positive effect on the material condition. So, the consumer is designed to buy household appliances, furniture, household items. He has interest rates lower than with cash loans. They are issued on the security of the purchased item. Cash loans are a little different. Then the borrower decides what to spend them on, and does not report to the bank. Credit cards are as convenient as cash, but there are many commissions on them, and the rates are high. There is a mortgage - for the purchase of housing, there are special business products to expand your organization, purchase equipment and so on. There are auto loans and leasing. There are loans secured by property. All of them are intended for different purposes, require different documents, but information about them and payments on them will be available to all financial organizations in the future. Therefore, in order not to puzzle where to get loans with a bad credit history, you need to rationally calculate your strength and make monthly payments on time.
How the bank determines how much to borrow
When you apply to a financial organization for a loan, you provide the bank with various data about yourself, your work and salary, your family and financial situation. Here, the appearance plays a role, and an indication of the purpose for which this amount is taken. Important data on past loans. If you have not had any loans, then most likely they will arrange insurance with you. All this in order to insure the bank itself, not the client, from financial losses. As a result, because of it, you will have to pay higher interest than originally expected. Insurance will also be issued in the event that you have had minor blots in history. Regular customers get bonuses and discounts. For example, you have a salary card in one of the banks; most likely, after several years of service, you will be offered a registered credit card with a reduced interest rate. If you still don’t have enough money to pay off all your debts, so as not to puzzle your mind with where to get a loan with a bad history, you can do a refinancing. This service is also presented in various versions. Firstly, refinancing can be done on one of the loans in order to reduce the monthly payment. And secondly, with the help of special products of the bank, you can combine all your loans into one and make the payment schedule the most convenient. This is better than then looking for where to get a loan with a very bad history.
Documents required for a loan
The first document is used always and everywhere. This is your passport. It will be required in any case to initialize your personality. The second document will confirm that it is you. This can be a driver’s license, SNILS, policy, TIN, etc. The third thing you need is an indication of the place of work and work phone number. Sometimes you also need a certificate of income in recent months. Important information for lenders: home address and telephone number, contact telephone number, mobile number of parents or spouse. This is the main package of documents that will be required in almost all credit institutions.
Important information about the borrower
Each bank itself determines which information about the borrower is most important to him. It may be age. For example, for people under the age of 21 and over 50, most financial institutions will not give a loan even with a good history. Loan without references with bad credit history - generally from the category of science fiction. However, there are organizations that can help in this case. Information on the presence of children and marriage, as well as contact with relatives, is a weight. Residence in this matter also matters. If a person lives far from the city in which the selected bank is located, his chances of receiving it are greatly reduced. All this information is entered into the database. From there they will no longer disappear. Well, anyway, the next five years - for sure. And if the data presented does not allow you to be called a bona fide borrower, then do not blame me: a cash loan with a bad history is difficult to obtain, if not impossible.
What is a bad story
Some financial institutions provide a service of familiarization with their own history. They will give you a printout listing all your loans and credits, their amounts and terms, as well as everything that you have delayed or not paid at all. Access to these data is available to all banks and organizations involved in lending to the population. Any case when you borrow money is recorded in special databases and becomes visible to all other similar institutions. So banks are trying to protect themselves from customers who will not bring them profits and even possibly organize financial losses.
How to find out your credit history
Some banks may provide you this information for free, others will take some kind of commission. All such stories are contained in the so-called Credit Bureau. They are stored for 15 years since the last recording. The bank is entitled to transmit this document to the bureau only with your consent, and it is also possible to obtain information from it only with your appeal. The moment you fill out an application for a loan or sign a contract, you automatically give such permission. You can find out the code of your history on the website of the main bank of Russia, as well as through any financial institution upon presentation of an identity document. Once a year, the story is provided free of charge. If you access this data more often, you will have to pay.
Where to get loans with bad credit history
If your story is spoiled, but not completely terrible, it makes sense to go to the nearest banks. It is possible that for them such blots are not so critical. You can get a loan with bad credit history and delinquency in most cases at microfinance offices. There are a huge number of them now, they are located at almost every stop in the city. True, such a loan is suitable only if you plan to take the amount for a short period. For example, for several days. The interest on loans in these organizations is simply huge. If you do not return it for a long time, in the end the amount will be three times the original, and this is in the best case. Some banks have developed special programs for such customers. For example, Renaissance, Citibank, Webbanker, SMSfinance. Even Sberbank has such a program, but employees will require a lot of documents. Where to get a loan with a bad history quickly? There is a virtual service "Finguru". There is another system completely. You will not be given a loan by banks, but by people who have posted their free money (in order to earn money) on this service. Consideration of all these applications takes an average of one day.
Possible sanctions
The next time you fail to repay a debt or past due, you will further aggravate your situation. If the loan is consumer, the bank has the right to pick up the item for which it was taken. After the court session and the announcement of the verdict on the return of funds to the lender, you must fully repay your debt. Otherwise, you can quite legitimately describe the property.