How to request a personal loan through an SMS

Easiest way to request a loan.

All the necessary process to request and get a personal loan for whatever you need. One of the tools that we make available to our customers to make it even easier is the credit application system through SMS.

Personal loan by SMS

Being able to request a personal loan by SMS is, in addition to an incredible speed, the possibility of being able to make the request from anywhere and at any time. And you’re on vacation, in the supermarket or doctor. You will only need a mobile phone.

But how does this tool work? The truth is that it is very simple. To request a personal loan through an SMS, all you have to do is send a message to the number.

This message should contain the word txt loan followed by the following information:

– Amount to request.

– Return period.

– Sex

– Name and surname.

– DNI / NIE.

– Date of birth in DD / MM / YYYY format.

– Address.

– Postal Code.

– City.

– Bank account number.

– Email

All these data must be entered in this exact order separated by spaces (do not use commas or other punctuation marks). We also recommend that you do not use accents or other special characters such as the letter ñ, as problems may arise for the operator.

All these data are the ones that you have to facilitate when requesting your fast personal loan with us on your computer, but through an SMS. It’s fast and simple. But so that you do not have any doubt about how to apply for your personal loan with an SMS.

Brief history of loans

At present, both personal loans and loans are very common financial operations and used throughout the world.

More and more people are opting for this way of obtaining liquidity to carry out their projects easily and simply. But it was not always like this.

Pioneering Lenders: Greece and Rome

In antiquity, barter was the medium of majority exchange and, to some extent, served to access resources that were not available, in exchange for available resources. The growing projection of increasingly ambitious companies by Greek merchants and explorers, made pre-classical Greece to adopt the first loans of real money with interests, already tested successfully among the Phoenicians.

It can be said that without this brilliant idea, the flourishing of classical culture would never have been possible, due to the economic limitations of initially self-sufficient societies. While it took Rome several centuries to adopt the loans as a means to economic growth, discussions among jurists of the time, demonstrate the concern of Roman society to define fair interest rates.

Lack of liquidity?

With the advent of Christianity, the classical conception of wealth as a desirable means and end, as well as a source of economic and moral progress, was progressively replaced by the moral censorship of usury. In this way, several centuries of decadence were experienced, in which both cultural production and economic progress were damaged due to the lack of financial liquidity motivated by the prohibition of interest loans.

But despite this, the loans continued to function, especially among the Hebrew communities scattered throughout the Christian kingdoms. Over the centuries, Jews became the great lenders who financed the most important companies in medieval history. In general, the loans offered could vary, from zero interest for members of their community, to reasonable interest rates for other borrowers, always based on the trust and solvency of the same.

Liquidity, discoveries and progress

With the discovery of America, thanks to a loan made by the Catholic Monarchs to finance the Columbus expedition, the need to finance the most unusual and unimaginable companies became evident. The boost of wealth that this discovery meant for Europe, meant a very important step in history, since the idea of ​​progress was gradually imposed on all of society, as the most effective means of creating wealth and happiness.

During the eighteenth century there was a major change, with the creation of commercial banks, first in Europe and then in the United States. This meant an increasing ease of access to loans, even by small traders and entrepreneurs. Already entered into the twentieth century, virtually anyone with a business idea, a service, or simply an economic need, could access loans with which to fulfill personal and collective dreams.

Private loans

Through private loans you can solve any problems that you have.

For example, a moment in which access to private loans can be extremely useful is that moment, as tragic as it is inevitable, of the death of a close family member or loved one. Of course, this will not be the sole purpose of the our companys of our company, but it is undoubtedly a very important goal that deserves to be mentioned individually.

It was said that private loans can be very useful in the inevitable future of the death of a family member or close loved one. And, in fact, they can do it in a double way, in the following lines some details will be exposed in this regard.

Private loans

And is that with private loans this type of loans can serve both to face all burial costs, and associated, that all these funeral ceremonies are coupled, as they can be extremely useful later in the moment of managing the collection of the deceased person by the corresponding heirs.

Speaking of the first of the sections, talking about private loans to deal with funeral expenses and all other associated costs that lead to the death of a person, say that in many cases the person may have a death insurance or of a capital reserved for this purpose and it may not be necessary to have to request any financing to carry out the entire ceremonial process or any other element required for the funeral, but this is not always the case.

And it is not always so in many cases or the insurance does not cover all the costs involved in the death (or even when you can cover them may not have a niche or something and must be purchased) or the cash that may be available either covers them, for all these assumptions the quick money provided by private loans of our company are very useful.

However, in the area of ​​the death of the people, where the authentic and complete value of the particular loans of our company really is in the field of inheritance. And that is a very sensitive issue and should be known in particular.

Heirs who renounce the inheritances they receive

More and more heirs are renouncing the inheritances they receive. This that expressed in gross can seem extremely illogical can be verified as in fact in practice it is not exactly so illogical because a double problematic looms over the inheritances: on the one hand in many occasions (and increasingly) the debts that are assumed with the inheritance is greater than the inherited heritage, and on the other hand, satisfying the corresponding tax that may correspond can also be extremely difficult, and even impossible, for many of the heirs, for all these cases the particular loans are the solution.

In the first of the slabs that weighs on the receipt of inheritance, in the element of having to assume a very high number of debts in relation to the inherited heritage it can be said that it may be that in many cases it is convenient to renounce the inheritance before assume the debts that its acceptance entails (and that is not to forget that any heir who takes charge, who accepts, the inheritance of a person, is made with the ownership of the inherited property but at the same time also takes care of the debts that that person had) because it really is not worth liquidating the debts, but in many other occasions it will not be like that, and without a doubt it is a decision that should not be taken lightly and that should be analyzed carefully.

In many cases, although a priori the level of debt is very high, if the level of equity is also, it is still profitable to keep the equity and face the level of debt that the deceased person possessed.

There are different ways of articulating this aspect, but undoubtedly one of the best ways could be to group all the debts and apply for one of the personal loans that provide the necessary liquidity and with this quick money obtained from the private capital of our company to liquidate the debts and leave the acquired patrimony clean. Even this option is possible even when the heir personally does not respond to the credit access profiles required because he will be able to finance the operation with any patrimonial element that can be used to grant the corresponding personal loan.

And regarding the aspect related to the payment of Inheritance Tax that may correspond, as well as assuming the expenses that may be incurred, the essence is a bit the same. The essence is that it may well be that the person who inherits by their own means can not afford the payment of all this but it is more appropriate to finance these loans with private loans of our company and dispose of the patrimony, not reject it for not being able to face the payment of the costs that this entails.

In short, private loans are an excellent ally in such delicate moments as is the death of a person. This is already a good example of everything they can contribute to any person, because as it was said not only in such hard times these personal loans that provide quick money are necessary and useful, they also represent an indispensable ally in many others moments of life, both personally and professionally, and can contribute greatly to realize all your wishes, dreams and financing needs that you may have at any time.

 

Renegotiate your mortgage loan to take advantage of low rates

With interest rates still very low over all durations, real estate professionals encourage borrowers to renegotiate their home loans .

However, most banks refuse to revise existing contracts, forcing their customers to compete in order to benefit from the current very favorable market conditions.

Conditions for a credit renegotiation

Interest rates on mortgages have fallen throughout the past year to historic lows. And the trend is not likely to be reversed anytime soon, with industry experts predicting stabilization over the next few months. The period is therefore still favorable for renegotiation . Except that not everyone can enjoy it.

Indeed, if the premium files do not encounter any particular difficulty to convince their bank, the “average” customers will have more trouble to obtain satisfaction.

Even if the lender accedes to their request, the conditions are not very advantageous. Indeed, renegotiating a loan generates certain costs, so the savings made can cover them. For this, a difference of at least 0.5% between the rate of the initial contract and the new offer.

Moreover, the loan should ideally be in its first third, when the monthly payments consist mainly of interest and still a large share of capital to repay.

Solutions to renegotiate your loan

Approaching your bank advisor is the preferred solution to negotiate a more attractive rate. In this case, it establishes a simple amendment to the contract. For the borrower, this is the fastest and easiest way since it avoids heavy formalities.

But if the latter refuses to return to the agreed terms, it may be interesting to change agencies. Because within the same network, the fee schedules may vary depending on the region and the policy specific to each branch. In this case too, the procedure is lightened, since the sign remains unchanged.

In the absence of a positive response from the bank, in the home agency or another, the borrower has every interest in playing the competition. Although the cost of repurchasing credit is greater than that of a simple renegotiation, and the process, longer and more complex, the savings are often substantial. In addition, this is an opportunity to change loan insurance and thus, further reduce the overall bill. Again, a pre-simulation is needed to evaluate the potential gains.

Borrow? It is the right time!

We repeat for several weeks, rates are at their lowest and the trend seems stable.

In addition, the state participates in this period favorable to the loan by easing the conditions for granting the loan at zero rate and increasing its ceiling. So it is better to ask the following question: Would not it be worth going into debt to get rich?

Banks in competition

As each beginning of the year, banks compete strongly in customer acquisition via the mortgage channel. Also, has been able to pass 1.75% over 20 years on the best profiles. This low interest rate level should encourage buyers to move forward on their projects. As for the owners, there is still time to renegotiate his loan .

In addition to the favorable rates, first-time buyers, that is to say, homes that have not been owners of their principal residence for at least 2 years, can benefit from promo loan . On the west, one establishment offers for example € 10,000 to 1% while another offers a complementary loan of € 15,000 to 0% for this target. So many additional loans to reduce the cost of your credit!

Loans helped more and more interesting

As mentioned in our previous article , the zero-rate loan has been revised, allowing a large majority of households to benefit from it under much more favorable conditions than before.

However, there is not only the zero interest loan to facilitate your access to credit. There is also a zero interest eco loan for energy renovation works. From a maximum of € 30,000 to 0% , this loan can now be easily connected to a financial package during an acquisition or subscribed later.

Employees in the private sector will be able to take advantage of the employer loan of up to € 10,000 at 1%, while public sector employees will be able to benefit from certain specific schemes by obtaining loans at a reduced rate. For example, military members may benefit from a home ownership loan of up to € 16,000 at 0% , subject to certain conditions.

The loan broker: Your best ally

There are many devices on the mortgage market. Our teams support you by searching for you the best financing solutions as well as the devices to which you would be entitled. We are the intermediary between you and the banks and negotiate for you your mortgage and its conditions.

Loan with instant confirmation: possible?

Instant loans are praised as a way to get fast money.

Of these, ” difficult cases ” are attracted, which have no chance with classic installment loans with Schufa examination. But usually the loan with immediate promise is only given after a credit check . If you still advertise with an instant loan without Schufa , this is usually a bad deal for customers. No lender voluntarily takes a higher risk without significantly raising interest rates. For non-Schufa loans, customers also have to pay close attention to fees and many other hidden cost.

Today’s instant loans , as offered by online loan portals such as check24 , Auxmoney or Smava , do not have much to do with the traditional loans of the house bank. Previously, it was customary to arrange a consultation first and then to wait several days or weeks for the loan to be granted.

By the way, instant-lending loans do justice to their name: although they are standard installment loans, they quickly tell customers if and when they have the money . For the loan with immediate approval, there is the following procedure:

  1. The customer determines the desired amount, the term and the monthly installment to be paid by an intermediary. Online consumers can take up to € 25,000 in instant loans . recommends that you choose a loan with a shorter term and higher rate if possible.
  2. The online calculator then filters the appropriate offers in a short time. That is, it shows current offers from banks and private investors. The larger the loan amount, the higher the monthly installments.
  3. If the potential borrower has made a decision, he must now provide some personal information. Within seconds, the creditworthiness of the customer is tested – using the intermediaries of an in-house scoring system, which also uses a Schufa information. This is ultimately the basis of whether the lender gives the immediate promise or not .
  4. If a commitment is made, the customer only has to identify himself via a video or post-ID procedure before the money is in the account. The payout may even be possible within 24 hours in some cases .

The broker  points out that instant loans are not awarded without Schufa exam. Instead, the lenders also want to convince themselves of the creditworthiness of the borrower during this quick process.

Credit with instant confirmation reputable?

The Consumer Center informs that the brokerage makes the lending more expensive. Especially with instant loans without Schufa, without collateral or for low earners, special care should be taken. For in the past loans were practically never given without sufficient creditworthiness.

In addition, for loans with immediate promise alone through the data transfer may be a disadvantage for customers. Because the credit can only be verified by forwarding the specified data to the lender. The borrower should never give the intermediary permission to resell the address and other personal information. Therefore, the privacy policy should not be ignored with just one click. Otherwise, the data could legally go, for example, to the Schufa. In the worst case, this can lead to a deterioration in creditworthiness, if several requests are made consecutively and no credit is taken. Schufa can automatically classify such a behavior as negative for the creditworthiness, as consumers usually accept one of several offers. If this does not happen, the Schufa could conclude that the consumer does not get credit from the banks and classifies their credit rating badly.

How can I tell if an instant loan is reputable?

On the one hand, consumers can be guided by the APR , which also includes all fees. How expensive commercial installment loans are, determined the financial advice on an ongoing basis. The FMH index indicates the average interest rates of the 51 most important and reputable commercial and direct banks. For example, with a installment loan over 36 months, interest rates in December 2015 were just over 5 percent.

The offers can not only be overpriced. Especially for instant loans without Schufa consumers have to pay attention to some additional cost traps. Therefore, borrowers need to check that none of these widespread rip-off methods apply:

  1. No upfront or loan fees: Intermediaries may only charge commission on successful lending. For the service of an offer preparation also with credits without Schufa no costs may arise . Beware of classic loans, if an advance should be paid or if application documents are to be sent against cash on delivery. These are worthless documents, but are charged at a high price . Even with supposed discount cards, the customer ultimately always makes a bad deal.
  2. no unnecessary supplementary insurance: Some instant loans are extremely expensive due to additional policies. The instant loan should not be linked to mortgage lending nor to residual debt insurance . Such a residual debt insurance pays the remaining debts in the event of death and secures family members. considers the additional costs for the insurance to be too high. It is unnecessary for the insurance for instant loans of a few thousand euros or if other collateral is deposited. Otherwise, it would be better to take out the remaining debt insurance separately from the loan . It is important for the customer to question whether an online insurance automatically adds insurance.
  3. no fee-based advice : Due to fee-based hotlines are often high additional costs. Anyone who takes out a loan with an immediate commitment should also be able to reach lenders or agents free of charge by e-mail or telephone.

Instant loan as a Swiss loan without Schufa

Unlike in Germany there is no Schufaabfrage the credit check in Switzerland. Instant loans without Schufa are therefore also known as Swiss credit . The lenders often come from our neighboring country and are brokered by German companies. The Schufa Score of the customer is therefore – as usual in Switzerland – not taken into account . It can therefore also give no new entry in the Schufa.

The Swiss lenders, however, calculate exactly the risk of a loan default. And this is even greater for self-employed, low earners or “hardship cases” than for an employee with a good credit rating. For customers, this means a premium over normal installment or instant loans. Even the broker Smava considers the interest rates of providers with loans without Schufa for ” disproportionately high “. advises: ” Stay away from loans without Schufa! “

In any case, customers must meet some conditions even without a loan with immediate approval without Schufa:

  • so the applicant may not be a minor
  • the residence must be in Germany
  • A proof of income is required (the earnings do not have to be high).
  • if the rate can not be regularly deducted from salary, other collateral must be deposited

The fast, low-interest money by mouse click is therefore a myth for instant loans without Schufa – even if some providers advertise with such promises. “But this is often a bait offer, ” says Max Herbst, owner of the financial advisor of the same name, to Handelsblatt.

When does an instant loan make sense?

Above all, the financial service providers praise the fast processing of an instant loan. But whoever has to get money fast, for example because of a repair, often has other possibilities. The first source should be its own reserves, such as a call money account, used up. Only those who have not accumulated capital and thoroughly examined all alternatives can opt for an instant loan .

If there are reminders or open invoices because the collection is also overdrawn , an instant loan can also be useful as a “side loan”. In addition to existing loans, a new loan , which is intended for rescheduling , is added. But that carries the big risk of taking over financially. Therefore, borrowers need to be honest that they can handle the monthly income and expenses.

Often, financially troubled customers turn on the debt spiral by taking out a new loan. If the bank rejects a loan application and the debt continues to rise, only the transition to a debt counseling service will help! However, far too many consumers act far too late and can no longer avoid a personal bankruptcy. Further loans, especially without Schufa, no longer make sense for existing debts.

Apply for a mortgage loan by checking receipts for fees?

If you are an independent worker who charges for fees or assimilated wages, you can apply for a mortgage loan to buy your house or apartment.

In fact, the process could become easier and faster.

Who is considered an independent worker?

People who are not linked to a company through an employment contract, but through a service contract and are remunerated under the figure of fees or commissions. As can be doctors, psychologists, lawyers, independent consultants, architects, accountants, musicians, dentists, etc.

 

Previously, checking income as an independent was a slow process due to the amount of documents requested by financial institutions. The situation of each worker has to be analyzed in a specific way, since not being salaried does not mean that he is not subject to a mortgage or any type of loan.

 

To be able to apply for a mortgage loan as an independent, it is necessary that you can verify your income and that you have a formal job.

That is to say, that you are registered with the SAT and that you present your statements in a consistent manner. Learn more requirements here

 

I have cash income. Do you consider that income?

No, it is necessary that your income is verifiable.

What are the required documents?

  • Bank account statements for the last 6 months.
  • Having your CIEC password, if you do not have it, it is very easy to generate it here . We will automatically review your statements and fee receipts.

 

Is there another option where I ask for fewer documents?

In our company, we want to facilitate the application of your mortgage credit.

You will have the option to use the verismart technology , with which we made a private connection to the SAT. With your permission, we downloaded your last statements and that’s it. We do not save your password and your information travels encrypted to maintain your security and confidentiality.

 

With this option we can make a better analysis of your income and we could grant you a better rate. Also, you do not have to send any additional documents to check income .

 

In contrast, banks often ask you for a significant number of documents on several occasions. For example, they usually ask for 12 months of account statements, fees receipts, proof of tax status, descriptive letters of your current work, equity clarifications, etc. which translates into much longer response times and a much more exhausting user experience.

 

Would you like to know how much we pay you? Pre-approve without sending documents and without commitments.

Ask for private equity loans

Private equity loans are presented as a reliable and effective option for these cases, especially for those in which speed is a key factor.

Each time our personal finances are more complex and require more effort on our part to monitor them: to a large extent, our small economy falls on loans , monthly payments, savings plans, bills, debts … which can not always be predicted from penny to penny .

It can be in these cases in which our contingency plan is not enough or, directly, does not exist, that a lack of solvency can be a serious problem, since there are situations in which payments can not wait.

For these delicate moments, private equity loans are a competitive, serious and reasonable solution to the shortage of liquidity and the need for immediate assistance.

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How do private equity loans work?

Private capital loans find their main creditors in individuals who put their capital at the disposal of the borrower, accepting as security of payment an asset that, usually, is usually a property.

Due to the private origin of capital, these loans work differently than conventional banks, with their own characteristics that may be advantageous in special cases. Therefore, private equity loans are a valuable option for those economic situations of a certain delicacy.

Can you ask for a loan at a complicated personal time?

Conventional banks, and especially in the wake of the credit crisis, establish tough restrictions by law that make it difficult to obtain a loan. In the case of private capital, the law establishes other parameters that facilitate a financial solution for people who are in a complicated situation.

These are some of the most common.

No payroll or endorsement

It is quite common to find ourselves at times when we can not justify income. Temporary jobs, income with an important seasonality, an economic imbalance during unemployment, or the nature of self-employment are some of the cases in which presenting a payroll can be impossible mission.

The same applies to the guarantee: if we do not have a third person who can take over the guarantee of payment of our debt obligation, the bank will close the door when requesting assistance. With these characteristics, it is most likely that a traditional bank will deny us a loan.

However, private equity entities can respond to this type of situation in an effective, accessible and fast manner. In this way, we can deal with the due dates of our bills in a moment of urgency, without having to regret that an economic blip becomes an endless spiral of debt.

For this, the ideal is to find a financial solution that also gives us easy payment, adapting it to our circumstances and accommodating the quota system to our possibilities.

In order to appear on your lists, the following assumptions must be made:

-The existence of a past due debt that has been unpaid, on which there is no doubt in matters such as its origin or amount.

-A requirement of payment, prior to the debt.

-The debt must have, at least 4 months old.

-That no document can prove that the debt does not exist.

If we have any pending debt, these conditions are given and our name or that of our company is among its files, we will have serious problems to obtain a financial solution from our bank. And it is unlikely that they will grant us a loan with ASNEF .

Therefore, the most advisable thing is that we request a quick loan, even with ASNEF and RAI, that allows us to pay off our debt with the entity that claims it and thus be able to request our cancellation in the list of defaulters. In this way, we will make sure to clean up our history and avoid problems with future companies that we hire and that have access to these files.

At the same time, we are returning the private loan little by little, in comfortable installments that we will have chosen with the help of an advisor after an in-depth study of our case.

Without reaching the end of the month

Everyone goes through a rough patch, but what to do if it goes on too long? It is not uncommon to see yourself once in a dynamic of expenses and debts in which we see our salary volatilize between payments and pending receipts, even before having crossed the middle of the month.

In addition, and thanks to the weight that we give to purchases under credit, we may not always calculate the scope of our domestic economy to the millimeter. Thus, any setback, however minimal, can cause our accounts to collapse.

It can also happen that a fine, or what is worse, the non-payment of the same and the consequent garnishment of the payroll, will lead us to an undesired situation.

In this type of case, it is possible that the bank does not consider us creditworthy to face a loan that allows us to deviate from this dynamic.

However, private equity loans will allow us to respond efficiently to our debts, refinancing our situation, reunifying payments and decongesting our fees. Thus, we will live more comfortable month by month and we can get out of the difficult economic moment that we are going through.

We help you find the financial solution you need

At us, we put our entire team at your disposal to give you the best advice and help you find the financial solution you need. We adapt to your conditions, whatever they may be. We offer you all kinds of products that will allow you to carry out a better management of your finances in the most critical moments. Get informed without compromise.

Real estate loan: calculating its sustainable debt level

Did you know ? When you buy a mortgage, you are subject to a glass ceiling: the debt ratio authorized by the bank.

This cap is used to calculate the amount of your monthly payments and, as a corollary, your borrowing period and the maximum amount you can claim. What is this ceiling? Should we rely on it to know how much it is possible to borrow? And what is a debt level considered “bearable”?

Real estate credit: the limit of 33% of indebtedness …

If you’ve done research on real estate loans, this percentage is probably not unknown to you. 33% is the threshold of debt that banks are reluctant to cross. It is commonly considered that it is not reasonable to have a level of debt that goes beyond this symbolic threshold. This is roughly a third of the borrower’s income.

It is calculated taking into account two criteria:

• The household’s cumulative monthly net income (salaries, bonuses, benefits, profits, property income, pensions, allowances, etc.);
• The fixed charges that must be deducted from these incomes (for example, for a couple who already reimburses a car loan, or for a borrower who pays child support).
From the sum obtained, it is estimated that a maximum of 33% can be injected into the repayment of mortgage payments. For a couple whose combined income amounts to 3,000 euros, the monthly threshold not to exceed will be 990 euros. This limit allows the bank to protect itself against a possible default of repayment.
This rate therefore determines the debt capacity of the borrower or borrowers. Primordial, it conditions the obtaining of the mortgage loan in its entirety, as well as the budget of acquisition.

… But a flexible limit depending on the case

However, things are never so simple when talking about home equity. It should be qualified: we should rather say that banks are most reluctant to exceed the rate of 33%. Because, in fact, lending institutions rely on another criterion: the level of debt acceptable, based on the “left to live”.

This means that you can modulate your debt ratio, upwards, if you have high incomes … or down, if, conversely, you are earning modest incomes. The threshold of 33% is therefore not fixed. In the first case, the rate can easily exceed one-third of revenues, and even go up to 40%. In the second case, this same rate can be reduced to 30%.

The difference is the “rest to live”, that is to say the financial resources you have once your monthly mortgage payment paid. It is obvious that it is easier to ensure everyday life with a significant amount of life. A borrower with high incomes (10,000 euros per month) can therefore live very well despite his debt ratio of 40%, while a low-income borrower (1,500 euros) will have difficulties beyond 30% of debt.

Taking into account the level of debt supportable

It is important to understand that the criterion of the remainder to be lived makes it possible to determine the level of debt “bearable”, that is to say the threshold not to exceed so that the borrower can enjoy the necessary day-to-day . This is the key factor for the bank, which ensures that:

• You can keep sufficient financial resources to live comfortably;
• You had no trouble repaying your monthly mortgage payments.

The bank’s calculation will therefore be largely interested: it first wants to protect its investment and guarantee repayment of the capital granted. For this reason, the level of sustainable debt is a limit that each borrower must know how to set himself, in agreement with his lending institution, but especially consistent with its monthly needs.

It’s up to you to determine how much you can pay back each month without getting into trouble. It’s up to you to set your own level of sustainable debt. And if the acceptable rate, in your case, is 25% or 20%, it is better to stay within reasonable limits. The weight of your mortgage must not stop you from living!

Borrow money immediately? We show you how easy it is!

I want to borrow money, but please immediately. The best method is a P2P loan.

Behind this abbreviation are peer-to-peer loans. The loan is privately held privately through a P2P marketplace.

Suppose a consumer wants to borrow 3,500 euros. Because of his negative Schufa he has received a rejection from all banks. But he owns a small car with a market value of 4,000 euros.

If he loses his job, he could sell the car if necessary. That’s not an argument for the bank. One can say that the Schufa is an omnipotent exclusion criterion. For P2P loans, other criteria count: good arguments and a solid repayment plan are enough for some donors.

Money lends immediately – the human being is in the foreground

A bank works according to internal criteria. They should ensure the highest possible return . The focus is on mathematics and not on humans. The consultant must submit to this. Even if he understands your situation, he can not approve the loan. Otherwise he might lose his job.

The P2P marketplaces follow a different strategy. The portal auxmoney emphasizes that “the Schufa information only as one of many credit features” applies. Despite low Schufa, you can get a peer-to-peer loan.

For example, when you deposit a car as collateral. Here, the loan-to-value ratio (LTV) is crucial: In the above example, the car would bring in about 4,000 euros. Since the debt is only 3,500 euros, the P2P loan would be 100% covered. If the vehicle had a value of 1,000 euros, the LTV would be 29 percent.

I recommend you to deposit a security. That leaves a positive impression on the lenders. So you can borrow money, and immediately. You also benefit from a lower interest rate.

At the other screen sits a real person. He does not follow any mathematical system. Maybe he has designed his own strategy. There are more than enough lenders to look at the requests individually.

From application to payment

The application process takes a few days. Auxmoney even advertises in a few minutes. Borrow money and this is actually possible with P2P loans.

In 7 steps to the P2P loan

1. Register with the platform

Opt for a provider. Registration is mostly free, so do not take any risks. Enter your data and complete the application. Depending on the platform, you can receive a P2P loan of between € 500 and € 75,000.

The income and housing situation are relevant criteria. If you own a property, you can deposit it as security. And the salary is self-explanatory.

You can not pay monthly installments of 800 euros if you only earn 1,100 euros net. Exceptions are possible: it could be that you live with your parents. And then 800 euros a month would actually be feasible. Because the “Hotel Mama” comes up for accommodation and meals.

2. Borrow money immediately: Explain the request exactly

Try to create a loan project. The example shows how important a description is. Nobody would trust you a rate of 800 euros.

Finally, an apartment costs more than 300 euros per month. That would not be feasible with 1,100 euros. But with a few more sentences, the application appears significantly more serious. You have no expenses for rent and food. Borrowing the chance of money – and that immediately – increases significantly.

A plausible description can decide about grant or rejection!

3. Confirm the identity

As with a bank loan, proof of identity is necessary. For this purpose, the providers are required by law under the Money Laundering Act. This is done via the online or postident procedure.

Some portals instead confirm the identity with a short video call using a webcam. I think the Postident procedure is a good solution. All I have to do is go to the post office and present my ID card.

Also think about other documents such as deed of ownership. The borrower has to prove that security really belongs to him. In the car it would be the vehicle registration.

4. Wait for the answer and grading

P2P marketplaces divide borrowers into multiple levels. This serves to protect investors: This allows the lender to see at a glance how good the creditworthiness of a consumer is. It also determines the amount of interest. At Lendico, there are the following ratings, from A for “very good credit” descending:

  • A: 2.00-4.84%
  • B: 2.81-5.88%
  • C: 3.88-8.72%
  • D: 6.39-8.78%
  • E: 6,46-8,80%

5. Activation on the marketplace

Now you can confirm the P2P loan. It is located in the desired marketplace for up to 30 days. Many loans are funded after a few seconds.

So you can borrow money and even immediately. I have described the first four steps in great detail. Some platforms like auxmoney are fast-paced. After 24 hours the complete application can be processed.

Theoretically, you can submit an application on multiple portals. In the end, you decide on the cheapest offer. According to the 14-day right of cancellation, you can withdraw from the contract within this period. There are no fees. Note this saving tip when borrowing money, even if it should go immediately.

Many loan inquiries can negatively affect your Schufa. On normal comparison portals, a “request credit” is often asked. In the long term, this leads to lower interest rates. The P2P portals circumvent this problem by using the trade-neutral credit request.

6. Payment of the P2P loan

Now you have to wait until enough investors have found each other. Many investors work with automobiles. This means that reasonable inquiries in low risk levels are supported immediately. Otherwise, you will have to wait a few days to get funding .

If it is missing to investors, that is not bad. Because you do not incur any additional costs. Only a permit will be charged.

Most P2P marketplaces allow you to reinstate the loan directly. In that case, I would advise you to change the description. You may be able to run your repayment schedule in more detail.

7. One month later

After a month, the first installment follows. Try to settle the repayment on time. So that you can lend money in the future as well.

Conclusion: Yes, borrow money immediately is possible

A financial imbalance can be remedied with a P2P loan. More and more people are investing in personal loans.

The reason: The savings book throws too low a return of 0.3% per year. On P2P marketplaces over 10% are possible. This is a big advantage for the borrower.

So you can borrow money and immediately. There are enough people willing to help you financially!