Financial problems can be extremely stressful, especially if you need money right away. Emergency expenses such as those for health reasons, education, bills, repairs, mortgage and more. can be an insurmountable obstacle, just when you least expect it. For the average Bulgarian who is on the verge of financial trouble, this means a lot of sleepless nights and headaches. In that case, what might be the solution? You can apply for a short-term, one-time loan.
Online payday lenders: Search, compare and Request a loan today
Online payday loans are a type of short-term loans that offer a quick solution to financial problems and can be repaid at one time when you receive your next paycheck, where their name comes from. Most people who are approved for a payday loan are those who need money right away and are ready to pay off the loan when they receive their next paycheck, with interest paid on it. Payday loan companies are constantly expanding and are one of the most sought after industries on the Internet. Applying for and servicing this type of short-term loan is a much simpler and easier start compared to servicing and obtaining a standard bank loan from a financial institution.
Payday loan eligibility criteria
Payday loans are unique when it comes to application and approval criteria. Although many lenders claim that they do not check the applicant’s credit score, there are still requirements to be met in order to get a quick payday loan. For example, the applicant must be of legal age and have a bank account (to which the amount will be transferred). In general, the requirements themselves are really small compared to when applying for a bank loan. For Seratum, for example, there is no requirement for demonstrable income for amounts up to 700lv, fast money on a loan can be used by people without an employment contract, unemployed, as well as women in maternity – factors that would not be favorable in a bank. credit.
In addition, applying for a payday loan does not require securing a property loan, as well as having guarantors or other guarantors.
The filling in of documents is also kept to a minimum and the only documents to be filled are 1 or 2 online forms which contain very standard questions. It takes about 5 minutes to complete and apply. There is no faster application system.
Amounts and refund conditions
In principle, the amounts that can be drawn in the form of short-term loans vary from country to country and according to the lender. With Seratum you can apply for an amount between 50 and 2000 BGN. It’s a good idea to keep in mind that the higher the amount you withdraw, the higher the interest rate you will have to pay back after the loan has been disbursed. It is a good idea to estimate exactly how much money you will need to deal with the problematic financial situation you are in and to withdraw just enough to avoid having to pay interest on an amount that you do not fully need.