The types of quick money credits without going to the bank
Although some banks can lend us fast money online in various ways, the most immediate way to get extra financing is to go to a loans-n-loans lender, because these companies take very little time to evaluate the requests and transfer the granted capital. Let’s see what are the products that we can obtain through these companies:
- Online mini-credits: they are the kings of quick money. This type of financing products allows us to get from 1 euro to 1,200 euros and have an average interest rate of 1.1% per day, although this may vary depending on the financial institution we go to. Therefore, if we ask for 100 euros lent to 30 days, we will have to reimburse about 33 euros for the interest accrued. Normally they are reimbursed in a single installment for a maximum period of 30 days, although each time we can find more mini loans that allow us to return the money in installments. Your application and hiring process is very accessible and intuitive, so we get money online fast in a matter of minutes.
- Quick loans: with these financing products we can obtain higher amounts, up to 5,000 euros, than with the mini-loans, with a repayment term of several months or even years. The interest rate on quick loans ranges between 3.5% and 12% per month, with no fees and no linked products of any kind. Like the minicréditos, these products are entered in a matter of minutes.
Since the closing of the credit tap during the crisis, there are more and more private financial entities that grant quick money loans online through the network, which has generated a price war to offer the most attractive offers in the market. This situation benefits us since we can find a greater variety of financing products with much more competitive conditions.
What we must do to get money online fast
The strong point of this type of financing products is the ease and convenience to hire them since we can do the whole process through the Internet. In most entities, these are the steps we must take to get money online fast:
- Indicate the amount and term in the simulator of the page of the financial institution to calculate how much the loan will cost us.
- Fill in the application form with all the personal and economic data that you ask for. We will not take more than a few minutes to complete this form since it is very simple and short.
- Send the documents you require us through an email or by attaching them to the lender’s own page. In this way, the company can analyze our economic history and solvency level to decide if it approves our request.
- Sign the credit agreement that will arrive in an email in the case that our application has been approved. We must read it to make sure we can meet all the conditions before signing it and forward it to the lender.
Once the entity receives the signed contract, it will immediately transfer the money to the account that we have indicated. In case of any doubt, the lenders put different ways of communication to solve all the questions that may arise.
Can we contract fast money online with ASNEF?
Yes. Despite what many people may think, the truth is that being registered in a delinquency file does not mean that we can not get the financing we need. There are some private financial entities that offer us the possibility of getting mini-credits at the same cost – average interest of 1.1% per day – even if we appear in ASNEF and without charging any additional surcharge. Of course, to get this type of financing products, in the vast majority of cases will be necessary to comply with the following two requirements:
- The default cannot exceed the limit of money put by the lender, which can range from 500 to 2,000 euros, although generally, the limit is usually around 1,000 euros.
- The non-payment can not have been made through a financial institution, so if we have not paid on time a loan, an overdraft or a monthly payment of a mortgage, for example, we will not be able to access the financing we want.
We must bear in mind that if we are in ASNEF we cannot access quick credits of higher amounts. In these cases, we must pay our default with the creditor company to be able to leave the delinquency file and have the possibility of getting the money we need.
Do not apply for urgent money credits online …
Although the urgent loans can come to us very well in certain occasions (if we need to solve an unexpected economic problem quickly, for example), it is not advisable that we use them frequently, because its cost is higher than that of the other credits and we could easily fall in over-indebtedness. Let’s see in what situations it is better not to hire these financing products:
- If we need it to cover recurring expenses such as paying gas bills for all months or for regular purchases (food, gasoline, etc.). Quick loans should only be used at specific moments of lack of liquidity, not as if they were a usual source of financing.
- If we do not have enough income to return the money fast on the due date. In case of non-payment, penalties for delay would significantly increase our volume of indebtedness.
- If we want to pay another credit. Hiring a loan to pay another is a terrible idea because it would make us enter into a debt spiral from which it would be very difficult for us to leave.
Remember that, when ordering these products, the guarantee provided is the set of our present and future assets. Therefore, if we use these credits irresponsibly and incur the non-payment, a judge could end up sentencing the seizure of said assets, including a percentage of our income and the balance that we have in our current accounts.
How to avoid defaults on a quick money credit?
Before applying for any type of financing we must always make sure that we can deal with the fast money refund without problems. However, in the event that we need a longer time to reimburse the money quickly online without paperwork that we have requested, we have the following options to avoid falling into default:
- Extension: depending on the financial company that we go to, we can request an extension of our mini-credit of 7, 15, 30 or up to 45 days maximum. During the time that we have the fast online money, we will have to pay some interest that is usually the same as those applied during the normal period. This option is much cheaper than incurring a non-payment since the interests before not paying will be higher.
- Refinancing: we can also try to negotiate with the entity so that we can refinance the loan and allow us to repay it in a longer period of time. In this way, the fees to be paid will be somewhat more affordable, so we will not have so many problems to make the payment.
In the event that the financial entity to which we go does accept these options, we will have to notify with a sufficient margin of time to apply them to our credit. Another alternative is to negotiate a payment schedule with the lender to extend the repayment term, although we will depend on your policies to make this agreement and it will not always be the way we want. For this reason, it is essential that, before requesting these products, we make sure that we are able to reimburse the money within the term or deadlines established in the contract without problems.