How to choose a loan company?

Borrowing online is not fun. The whole process should be carried out wisely and it is best to prepare for it properly. Even smaller amounts can be a problem when you find out that you lack the money to pay the debt.

There are several universal tips that are good to follow so you don’t get in trouble. Thanks to them, the loan application process and return will be smooth and without unpleasant surprises.

How do you look for a loan company?

How do you look for a loan company?

The process of borrowing in a bank often takes a long time, which is lacking in emergency situations. Non-bank institutions come to the rescue and offer financial support, limiting formalities to the necessary minimum. By entering the term ‘ quick loan ‘ into the search engine, the entire list of companies that have payday loans on offer appears in the response.

They are a good solution when you need to get a specific amount for a specific purpose in a short time. However, choosing the first item on the list may not necessarily be the best. A good solution is to use non-bank loan rankings. A list of loan companies carefully selected by specialists in the field of finance will allow you to choose something tailored to your possibilities.

To ensure that the selected company is trustworthy, check that it is in the Register of Entrepreneurs of the National Court Register. It is also worth finding out whether the entity is not covered by financial supervision or entered on the so-called blacklist. This information can be found on the website of the Polish Financial Supervision Authority.

Read the contract carefully


Reading the contract carefully before signing is a necessity that many people run away from. Complicated legal vocabulary is often difficult to understand and borrowers sign a contract based on what an employee of the company presented to them. Unfortunately, this is a basic mistake that may cause later problems.

The contract includes aspects related to, inter alia, APRC, consequences of lack of timely repayment or additional fees. The last of these issues is worth paying special attention. Online loans have the fact that they do not require many formalities and are incurred in crisis situations. Companies wanting to earn money include fees in the contract that may not even be directly related to the loan.

In this way, they want to make money on a customer who rushes through the contract and does not pay attention to such information. Therefore, before signing any document, carefully review it. If you have any doubts about a point, consult a person familiar with the topic. Thanks to this you will avoid unpleasant surprises.

What if there are no regular repayments?

What if there are no regular repayments?

By taking out a loan, everyone hopes that there will be no problems with repayment. The budget planned for a few months ahead allows you to feel sure that everything will go according to plan. However, it is worth finding out what awaits you in case of repayment problems. Find out if it is possible to extend the repayment deadline or to spread the debt into installments.

Definitely give up companies that cannot show you the clear consequences of not complying with the contract. In such places, your quick loan could end up in debts for many years.

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