Fast Credit as a Parachute

Quick loans are, by definition, short term loans from non-bank lenders that can be subscribed via the Internet or via SMS and can be received within 10 to 15 minutes. The key word for quick credits is, of course, the “speed” – they can be quickly applied and received.

Speed ​​is crucial for urgent, unexpected and emergency situations. It was in these situations that quick loans were created, that is, a solution was found for the problem situation. For example, a person has broken a car but its repair is urgent and urgent.

Not prepared for such a situation and unexpected spending

A person finds that there is no such amount of money at the moment. What to do? If this person goes to the bank after the loan, the loan will most likely be issued in a couple of days, but if he goes to the fast loan provider after the loan, or he will apply for a loan online or via SMS, he will get the loan in a few minutes. The choice of this person in such a situation is very predictable – it is logical that priority will be given to quick credit.

Once again, quick loans are really only meant for dealing with unexpected and urgent situations when your personal finances are not enough. That is why quick loans are issued for such a short period of time and to such a small extent – as a helping hand in SOS situations, as a parachute before falling on the ground. To say this, the exclusive service in financial difficulties also has relatively high annual interest rates, which are usually between 100% and 200%.

Fast credit is only available to a narrow range of people

The word “exclusive” in this context does not mean that fast credit is only available to a narrow range of people and in small numbers, on the contrary, but that there are no other ways in Latvia to quickly solve the financial shortage in unexpected situations, unless there are generous friends or relatives who might be helpful, as well as embarrassed to ask. Quick loan repayment problems begin when a person borrows fast loans to solve long-term financial problems, or when his or her solvency or creditworthiness is overestimated during the loans and paid in full.

Therefore, choose quick loans as an alternative only if you have been left without your personal funds for a short period of time, such as a few days before salary, or when you are really confident in your ability to take on credit and settle it in a timely and complete manner.

As well as embarrassed to ask

Quick loan repayment problems begin when a person borrows fast loans to solve long-term financial problems, or when his or her solvency or creditworthiness is overestimated during the loans and paid in full. Therefore, choose quick loans as an alternative only if you have been left without your personal funds for a short period of time, such as a few days before salary, or when you are really confident in your ability to take on credit and settle it in a timely and complete manner. as well as embarrassed to ask.

Quick loan repayment problems begin when a person borrows fast loans to solve long-term financial problems, or when his or her solvency or creditworthiness is overestimated during the loans and paid in full. Therefore, choose quick loans as an alternative only if you have been left without your personal funds for a short period of time, such as a few days before salary, or when you are really confident in your ability to take on credit and settle it in a timely and complete manner.