Payday loans are instant loans, the popularity of which is now really very high. It results, among others, from an extremely shortened, simplified loan procedure. Lots of people wonder if you can get a payday loan by documenting your identity not with an ID card, but with a driving license.
A lot of people ask why an ID is needed to receive payday pay. It should be clearly stated that the loan agreement must include data such as the number and ID card series. Only then is the contract that has been concluded a valid contract. Meanwhile, no other document – be it on your driving license or passport – is in vain to look for information on the number and series of your ID card. Therefore, the lack of an ID card makes it impossible to receive payday loans.
When we do not have an ID card – whether as a result of losing it or waiting for a new one – unfortunately we will not be able to borrow money on the parabank. Parabanks accept only an ID card as an identity document. Therefore, if we only have a driving license, we will not be able to confirm our identity. Moreover, it must be remembered that the ID card must be a valid document. So if it has expired, no parabank will sign a loan agreement with us.
Identity card is required by payday loans companies not only because of the number and series that are placed on the loan agreement, but also because it is a document confirming the age of the person applying for a loan. It should be strongly emphasized that payday loans are reserved only for adults. So if you do not have an ID card, payday loan is a loan that we cannot use. Therefore, an ID card is an absolute basis.
Why are payday loans?
Admittedly, parabanks offer the possibility of so-called credit holidays, but such a solution is really expensive. For deferring the repayment date of subsequent installments, one should pay. This makes the loan a bit more expensive. What’s more, the parabank may of course refuse to grant us credit holidays.
Late repayment is an element of payday pay, which can really give us a headache. Everyone who decided to take a payday pay should be aware that late payment of subsequent installments is a really high interest. As a result, we will refund a much larger amount to the parabank than the one that was lent to us. For this reason, it is important for payday loans that each installment is repaid on the agreed date. This will avoid unnecessary additional costs.
The most important disadvantage of payday loans is above all a really high interest rate. The total annual interest rate is significantly higher for them than for traditional bank loans. What does this mean for the borrower? The parabank should be returned with a much larger amount than the one we borrowed. For this reason, it is so important that you decide more wisely about the amount you are going to borrow. You should seriously think about whether we can handle the repayment.
Chwilówki are so-called instant loans, whose popularity is growing every year. More and more people who do not have a chance to get a bank loan decide to borrow money in the so-called parabank. Chwilówki have a whole lot of advantages, which they owe their popularity. However, it should be remembered that extreme caution is recommended with them. Otherwise, you can quickly fall into a spiral of debt, from which it is not so easy to get out. What to watch out for when deciding to take a payday loan?
In which bank is the most advantageous cash loan?
If you decide on a bank loan, we can be sure that you will need a certificate of earnings. In the case of payday loans provided by parabanks, this is not so obvious. The vast majority of loan companies do not require clients to provide an income certificate. This is a very good solution because it gives a chance for a loan to those who are employed illegally or have a junk contract and are unable to document their entire income. No need to provide such a certificate is also a huge time saver.
Payday loans are a very good solution for everyone who needs cash and who cannot count on a bank loan. Chwilówki are associated – and this is the right association – with a quick credit decision and formalities that have been really limited. However, the question arises as to what payday grants can accept when it comes to the income of a potential borrower.
The vast majority of lenders do not require proof of income. The only document required to grant a payday payday is an ID card. However, very often the loan application includes questions regarding monthly revenues. When completing such an application, you should carefully consider all sources of income that occur in our case. This is not only about the remuneration for work, but also the profit obtained from renting an apartment and the maintenance received every month. However, it is not worth including information that is not true in the application. It must be remembered that we have to return the money borrowed to us within the time limit specified in the contract. If the amount we intend to borrow seems too high, we must take into account that the parabank may require us to document income. However, it is often enough to provide an account statement.