Hiring payday loan without fixing up future problems, how? This question everyone wants to know the answer. There are over 100 advices to avoid misfortune with loans. The real first is “do not make a payday loan”, only then you will be armored against this type of problem.
I want to hire a payday loan, help me, what should I do? We all have to have a “B plan” when things are not going well. Not that it is inevitable, but at one time or another in our life, lending money to a bank becomes a solution, whether willing or not, even to invest in a thriving business. It is worth saying that payday loan it is not only when difficulties are at the door.
How to “hire payday loan” with so many offers available in the market? Perhaps this task will hold more time in your life with research and comparisons, but it is worth getting the best conditions. Can I carry out a credit transaction that does not bring me future problems? Let’s see, we will show our vision in a simple and uncomplicated way the steps that can be followed.
Search for better options
1 -) This is the biggest mistake people make when they hire payday loans, most people do not even research in the market what the offers that other banks and financiers are granting, they simply hire the bank that owns the checking account. Search, compare and decide for the best condition.
Check the Interest Rates and Charges
2) Carefully look at the fees and charges of the operation, many financial institutions offer an interest rate to all customers without distinction, question whether there are options with better incentives. Look for ads like: rate 0.72% for… that may seem attractive, but at the time of confirming the loan, the value changes to 0, 91% due to other charges that were not included in the ad, see CET – Total Effective Cost before closing the contract.
Long or short payment term.
3 -) When making payday loan you should choose a repayment term, many prefer the longer terms. With longer maturities the installments are smaller, considering beneficial small installments is a mistake, the long terms make the loan more expensive by 25%, if possible prefer the short and medium term. In addition the term you choose has direct effect on interest rate, higher term higher rate, lower term lower rate.
Type of payday loan
4 -) The type of loan you want to borrow can dramatically interfere with the interest rate offered, decide the amount of the loan you want and the amount of installments of this willing to pay, from there choose a type of credit that fits with your profile. Payday loans are the cheapest, pre-approved loans also have affordable rates, loans with vehicle warranty and so on, choose your best option.
Settlement or early discharge
5 -) Check with the lender what penalties or advantages in the case of early settlement or early settlement of the loan. It is extremely important to know in advance, some institutions still apply minimum deadlines for other liquidation up to fine if the client requests the discharge. The biggest problem in this operation is the difficulty imposed by one or another institution places.
Canceling loan is difficult, but it is super easy to do
Read the Contract
6 -) Unbelievable, but 75% of the loans contracted personally people do not read the contracts, and about 92% through the internet. Reading the payday loan agreement is the most effective way to ensure that you are not getting in the way. Find out what your rights and obligations are before you sign the paper.
Loan Protection Insurance
7 -) Do or Do not Loan Protection Insurance? It depends! This type of credit insurance serves to protect the borrower from misfortunes, in some credit lines are required, several financiers offer the Insurance free of charge if the installments are paid on time, some banks are optional, decide from the modality contracted by you, in many cases disregarding insurance may be best for your pocket.
There are other steps to consider when hiring payday loans without fixing problems, these already help a lot, make the request in credit companies and renowned institutions eliminates in almost 90% future headaches.