In the financial market it is possible to find products of different types that suits almost all the needs of consumers. Therefore, we will surely find quick credits that meet our expectations. If we are thinking of requesting financing and having it in our account within a maximum period of time, the options that we will find and in which we can request information are the following:
Small credits If we need to deal with unforeseen of a low amount, there are loans with which we can access maximum amounts of 300 euros if we are new customers in just a few minutes. Every time there are more companies that sell products of this type totally online and with hardly any paperwork. Its repayment period is usually one month and the average daily interest is 1.1%.
Credit lines. These financial products are an alternative if we want to make cash arrangements only at specific times. According to our financial capacity, the company will assign us a certain amount of money that we can use or not according to the needs we have. This figure can reach 5,000 euros and its interest is between 24% and 25% APR.
Personal loans. In the event that our project is of a larger scale, there are also consumer credits that allow us to get up to 60,000 euros. Of course, we will have to wait a few hours to know if our application has been approved or not. In addition, its repayment term can reach 8 years and its average interest of 8.90% APR.
Therefore, the choice will depend on our financial needs and the urgency with which we want to have the money in our account. However, even if we know what type of product is the one that interests us most, it is advisable to compare options so as not to pay more than necessary for a loan with the same characteristics as a cheaper one.
I have other credits for consumption, what happens?
If we need financing but we already have other debts, it will depend on our financial situation whether a company approves or not our request. If our level of indebtedness is very high, surely we can not get fast payday loans of high amount. The companies understand that, in these cases, the risk they assume of not recovering the money they have borrowed is greater. Therefore, they reject these types of requests. In addition, the consumer is also exposed to not being able to reimburse the credit within the term that appears in the contract.
However, this situation should not be a problem if our other debts have a low amount or if our income allows us to take on a new loan. In the same way, it is not the same to be paying a credit card to be repaying a mortgage whose amount is considerably higher. However, the situation changes if we have fallen into default and appear in some file of defaulters as ASNEF.
Appear in ASNEF for unpaid debt
In the case that we are registered in a file of defaulters, the number of companies that grant financing to this type of profile is considerably reduced. It will depend on the amount for which we appear in ASNEF and the company with which we have contracted the debt to get the money or not. The entities have established an amount above which no application approves. Although this figure is usually at 200 euros , there are some cases where you can be above.
However, the situation is very different when the reason is related to a bank debt such as a mortgage or a credit card. In this case, there is no possibility of getting the money we need.