A delay in a loan can become not only the reason for constant calls from the bank and collectors, but also lead to many other negative consequences.
How can I quickly solve problems with the bank and what should I do if my credit history (CI) is corrupted?
Bank lending in Ukraine over the past 3-4 years has undergone quite a lot of changes that relate not only to toughen the process of registration but also control over the payment of a debt.
Getting a loan at a bank has become more difficult than a few years ago – the “initial” age of the borrower is 21-23 years, an income certificate and official employment are required. And it is basically impossible to get a loan with past due debts at the bank.
But if some debtors do not pay because they don’t want, some still have good reasons: they reduced their jobs, wages, health problems, etc.
With each late payment, CI worsens, and the chances of getting the next loan are getting lower. For example, loan debt travel abroad may limit. Of course, such situations are rare – it all depends on the size of the debt and the country you are planning to go to. But it is important to know that such a probability does exist.
To get a loan with debt is really not only in the bank. There are several alternatives.
Contact a pawnshop
Making a loan at a pawn shop is an easy way to find the money. True, the terms of the loan will not be profitable and, in addition, there is a major drawback – it is impossible to receive funds without providing collateral.
As collateral, you can provide gold, equipment, a mobile phone, and even a fur coat or bicycle.
And although it is easy to get a loan with past due debts at a pawnshop, you need to be prepared for the fact that the property will be valued much lower than the market value and it will be more profitable to simply sell it.
Although it will take time. A secured loan at a pawnshop is a quick, but far from the most profitable way to solve problems.
Contact a private lender
On the Internet, you can find a lot of service announcements with an offer to take a loan from a private person. It is possible to receive even more than USD 100,000, although the overpayment can be more than 50%.
The disadvantage of this type of lending is the high chance of contacting a fraudster since private lenders do not have any licenses and do not conclude real contracts that have legal weight, although they make it possible to obtain loans with overdue debts of individuals.
Contact a loan broker
A credit broker is an intermediary between banks and a client. The broker works with several banks at once and will allow you to choose the most profitable option or the only suitable one if you want to get a loan with overdue debts and a blacklist.
For his services, the broker takes a commission, but usually, the bank repays it. Most often, brokers are contacted when they want to receive goods by installments in a store.
Then the client is asked questions for the questionnaire, applications are submitted to several banks at once, and they are informed about which bank and under what conditions agreed to give funds.
Find a local bank
There are several ways to get an overdue loan from a bank. Most likely, this will be problematic, but you can try to find a local bank that has either recently opened or holds shares (usually, an advertisement will tell you that you can take out a loan with a bad credit history).
Please note that searching for such an option can take a lot of time. If nevertheless, you have been refused the application, the reason is not disclosed; accordingly, it is impossible to know exactly why this happened.
Contact an MFI
It is also possible to get a loan with 1-year overdue debt from a microfinance organization (MFI). About 700 services work in Ukraine, wherein 15-40 minutes you can get a loan and withdraw funds.
Mikredit, for example, is one of the most profitable organizations, where each new client can request up to 3 000 USD, and each repeated one – up to 10 000. It is also possible to take a loan here to pay off an overdue loan and, thus, solve the situation with the bank.
The credit rating of Ukraine indicates that this service occupies a leading position among MFIs in terms of the quality and profitability of the transaction.
If you made delays and your credit history is damaged, you should think about how to immediately close the debt and correct the situation. Refinancing a loan may help, but the bank does not always make concessions.
Therefore, in order to make the first payment and improve the CI (and in the future, it is possible to achieve restructuring after all), it is better to lend to Good Credit and after 15 minutes to pay the debt.