We all have dreams. Some bigger, others smaller. Some people dream about their own apartment, because they are not given their living right now. Someone else would love to build a house. There are people for whom the dream is holidays in an interesting place. A large group of people dream of a new car, computer or console. Can a private loan help us make our dreams come true?
As you can see, the vast majority of us dream of something material. Should we not dream of peace, health or family happiness? Yes of course. However, we need money to make our material dreams come true. We can have them through our well-paid job. We can have them because we can put them away. Unfortunately, most of us will say that they lack the resources to meet at least some of the plans. This is for various reasons. Mainly because of low earnings, we are not able to save the financial surplus . It causes that the realization of your dreams is postponed. May there be enough time to meet them all. There is a group of people who do not want to wait for the day when they put aside enough cash for the planned expenditure. They decide to borrow money. It is a more or less thought-out decision.
We can borrow money from various sources. In Poland, we have approximately twenty fully legal financial institutions available as banks. We also have institutions that are not banks. A private loan from those listed at the end is very risky and expensive at the same time. Why is it like that? The answer can be found below.
Private loan – threats
Banks offer cash loans for natural persons, i.e. simply thinking ordinary people. These are private loans on strict terms. Anyone who meets the criteria imposed by the bank can apply for additional funds for any purpose. These criteria are primarily creditworthiness . Ability or the possibility of paying installments according to the imposed schedule. This is because the bank wants the borrower to pay back on time. It is not true that banks will always give loans to everybody.
The Commission for Banking Supervision supervises institutions such as banks. She checks and regulates all banking-related issues.
Another issue is all other entities that are not under the control of the state apparatus. I’m talking about parabanks. This is the name of various companies that provide services similar to those offered by banks. However, there is no control over these parabanks. The consequence of this situation is and can be further scandals related to the dishonest approach to the topic by their owners.
Careful when applying for additional funds needed
If we are facing a negative credit decision at a bank, there is a reason for this. Let’s settle our obligations properly and on time, and we won’t have to reach for para-bank solutions. Solutions may be fast and generally available but mainly very expensive.