Debt loan – for whom?

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Sometimes, for various reasons, we have problems paying back a loan or a loan. When there are more commitments, the situation becomes problematic. If it is extremely bad, it is worth asking financial institutions for help. One of the solutions they offer is a debt loan.

What is a debt loan?


If we decide to take loans quickly or face difficult moments in our lives, we may have problems with timely repayment of installments. When this situation drags on, we get into debt more and more. We take more loans, we fall into a spiral of debts. However, even with such a difficult situation there is a way out. We can apply for a debt-free loan.

The main purpose of the debt relief loan is to help repay previous liabilities. It is useful when you are not financially successful. His task is to overcome our previous debts and help clean up credit history. Taking out such a loan seems to be the least drastic way of dealing with financial problems.

We can get it both if the causes of trouble are random accidents, and when the reason for the debt is our hasty and ill-considered decisions.

It should be noted, however, that these types of loans are usually very expensive, because the institution granting them to us bears a high risk by supporting someone who has already run into financial problems. Interest rates will not always be high, but we should certainly expect significant additional fees and commissions.

How to get a loan?


The complexity of procedures depends on the institution that grants us money, but most often this process is quite complicated.

The lender must have grounds to grant us funds. Therefore, he analyzes our material situation. It is required to have specific monthly inflows to the account. Most often, therefore, you should submit account statements to confirm regular receipt. A certificate of payment of ZUS contributions is also required.

Very often a full list of debts should be provided, including: names of creditors, amounts of debt, installments that were in force in the contract (or the required repayment amount for payday loans). If the amount of liabilities is high (usually when it exceeds about PLN 30,000), please also provide the land and mortgage register number, as the loan will be secured with real estate.

A person is also interviewing the applicant. You should then clearly describe your situation without hiding any information from the lender. It is important that we be completely honest and not hide anything. An honest conversation is the basis for obtaining a debt-free loan. If we conceal any information, it is very likely that the loan will not be granted to us.

What to look for?


The solution in the form of taking a debt loan is good for people who pay several liabilities at the same time, lack funds to cover them, have a negative credit history in BIK and are unable to cope with their debts.

However, it is important to make a decision consciously. We need to think carefully about whether we can afford additional credit so as not to worsen our situation even more. Before making a decision, carefully analyze the available offers to choose the one that will provide us not only with the lowest interest rate, but also relatively low additional fees. The choice of the offer should be made dependent on our capabilities, adjusting the length of the repayment period to them.

In addition, pay special attention to interest rates, commissions and any additional fees. It is also worth finding out whether the interest rate on the loan is fixed or variable. The maximum amount that can be contracted is also an important factor, as it must cover our accumulated liabilities.

The loan is most often granted by companies from the non-banking sector, and its collateral is usually a mortgage. Therefore, it is worth remembering that if we do not pay it back, the bailiff will take over our property. Banks give loans reluctantly because it is too risky for them.