” I need a personal loan! Have you ever needed an urgent payday loan? When watching TV and reading the newspapers online, we see several articles showing that the cost of living in Brazilian cities has only increasing by the day. “
We also know that in order to keep finances in order, you have to start cutting expenses and reducing expenses that are sometimes important but expendable, if you make an effort, you can eliminate many expenses.
Unfortunately, prices of consumer goods, products and services are increasingly inflated, even though interest rates drop month by month. On the other hand, the income received monthly by the workers has remained the same, when it increases, it does not follow the real inflation.
Worse is when there are few chances and opportunities to make more money or extra income. Whoever has a single source of income has even more difficulty surviving.
Urgent payday loan to save the motherland!?
Brazilian families are almost all with their rents worn out, and with the economic crisis left by previous governments and continued by the current one, the financial lives of many have truly become much more difficult.
To overcome this continuing trend of tightening in finance, people are forced to borrow one or more loans urgently.
urgent payday loan is a basic type of personal credit usually done in cases of pure emergency. In simple words, it is when a person needs money right away.
Most people who choose to ” make an urgent payday loan ” use it to buy things they need, to pay for consumer bills or expenses that they can not be left behind.
Examples of situations like paying the rent of the house or apartment, doing the car review or paying taxes and condominium fees, can be considered as priorities, and certainly are reasons to take an urgent personal loan .
How to apply for an urgent payday loan?
In Brazil, there are a lot of lenders and online loan companies, they lend money from wherever you are. You can apply for an urgent payday loan with the most varied amounts and payment terms.
Approval of the loan is usually based on your personal profile, nothing different from the conventional personal loan. The approval and release policies of the loans vary little from lender to lender.
Consultation and verification of registration for approval
Some lenders check the credit report for debts or negative entries before approving the application, this is not the case for pre-approved loans, credit on the card, overdraft (credit limit).
Therefore, it is always advisable to pay your existing debts to clear the history and increase the score in Serasa, Boa Vista (SPCP), SPC Brasil and TransUnion Brasil. The truth is that paying off debts is the most essential way to keep your credit score healthy and your credit report free of pending registrations.
Having a good or excellent credit score not only provides almost immediate credit approval, but also helps in obtaining much lower interest rates.
Because of the incessant search for loan, and with so many companies, websites, platforms and online lenders, it has become a difficult task to find a reliable lender who specializes in specific loan categories. For people with a dirty name, for example, go here!
So … if you are a regular consumer, you know you need to do research and in-depth comparisons to find what you are looking for with the best conditions, this should also be done when it comes to personal loans.
As an advice : Hire your urgent payday loan only if you are sure that you can return it to the bank or financial institution at the right time. Do not borrow just because you need to buy luxury items as a new-generation smartphone. Be smart, manage your finances wisely.
Taking advantage of the let, let’s talk about some myths and misconceptions that many only discover when they ask for a new loan or are disapproved in their requests.
Misconceptions about urgent and non-urgent payday loans
There is no ” good loan ” and ” bad loan ,” the idea that personal loans are usually a last resort, or that hiring them may mean that you have reached a desperate state, not true!
Not only that, some people may be disappointed by not having the approval of their personal loan application due to a variety of reasons (lack of score, bad credit history, no credit etc), so let’s clear up some misconceptions to improve the understanding.
To borrow loan need to have good credit score?
Credit score is definitely one of the most important factors for credit approval especially in banks and retail financial. In Brazil, unfortunately many people neglect the fact that the ideal would be:
- Have a clean name on the square
- Prove enough income
- Have unspotted credit history
- Do not have any restrictions on Serasa, SPC and others
- Build and Have a Good Credit Score
These five factors are not just meant to qualify for a personal loan, this should be part of the financial life as a whole. If you want to know how to really get out of debt and have credit to do what you want, click here. If you want to increase your score and credit score quickly and efficiently, learn more (here).
The only place you do not need scoring to get one or more loans is with loan sharks, and in that case, if you do, it is at your own risk. Feel free to do whatever you want with your life.
Are interest rates the same for all people?
In a near perfect world, we could believe that in this online universe we live on the Internet, people would be the same, and that financial institutions would offer the same rate of interest to all people who borrow money.
But the world is neither perfect nor almost perfect!
From home loan (mortgage) to negative loans, lenders apply different interest rates for each type of person.
You would be surprised at the amount of factors that can affect the interest rates and terms that lenders evaluate to release a loan to the borrower. Financial institutions offer different rates depending on your credit risk status .
They may also be based on the applicant’s ability to repay the loan, in his professional qualifications, on his status as a citizen, eg Public Servant, Retired, Pensioner, Military, etc., or his ability to present collateral.
Do not just look at the loan with the lowest interest rate
As mentioned in the previous point, there may be more than one factor to consider when it comes to approving a personal loan from online lenders or banks.
While interest is an important criterion, since it determines a large part of the total cost of the loan, do not forget the term, administrative fees, federal taxes (IOF), processing fees, insurance lenders, prepayment penalties and ease of application, all of this affects your pocket when choosing a loan mode.
Let’s consider that you need a loan of $ 5,000 and would like to repay it in 4 months, would you prefer to pay a little higher interest to get the payment in 4 months or extend the term for a year with a slightly lower rate?
Think carefully! But do the math.
Do you need to be employed to get a loan?
Being employed being (salaried, hired CLT, cooperated) definitely helps in any personal loan application . But you would probably find that anyone who is not employed does not need credit – it will!
This is especially the case for many start-up micro-entrepreneurs and entrepreneurs who do not have sufficient resources to handle the startup stage of their new business, or face shortages in cash flow.
Being unemployed does not mean that you can not have access to credit or take out a loan.
As long as you can prove income, there are personal credits that are designed for both freelancers and for entrepreneurs and entrepreneurs who have businesses in progress. A pro-labor or even income tax resolves this obstacle.
Unemployed man gets loan
Another way for an unemployed person to obtain personal loan is by presenting a guarantor or guarantor as collateral for payment, the bank will do and evaluation of financial status, if everything cooperates – the money is borrowed.
In conclusion : Provided that a person files proof of income, declares income tax and passes the credit analysis, any lender will certainly not deny the loan application.