Urgent cash is given because hundreds of thousands of people are on the black list because of their debt to banks. The worst part of being on the black list is that you can’t get credit from the bank again. Not even getting a credit card. At this stage, thousands of people have to meet their cash needs by asking for money from people around them. Only this may not always be possible. Nobody wants to lend money to anyone, especially during the economic crisis.
Non-Bank Credit Resources
Most of the time, people who cannot work with banks, who are stuck in urgent cash, face urgent cash donors postings after a short investigation. The owner of these announcements is of course non-bank institutions. In this practice, which is mostly carried out by wealthy people and institutions that evaluate the money of famous people, loans are given with promissory notes and taken back for a certain interest or commission.
What Is The Difference From Credit?
The application of debt money with promissory notes is different from a loan, not a loan agreement, but a bond agreement. Therefore, the people who will withdraw money with the promissory note should control the stock they sign as well. In addition, another difference from the loan is that the maturity option is flexible.
It means that while the maturity intervals are determined in bank credit, the buyer who determines the maturity most often determines the maturity in the money transactions. This maturity may be every 3 months, once a month or at the end of the year. The points that give money with the promissory note do not make any insurance for the amount they give. Only banks can issue one or more insurance policies for their loans.
Investigating in Bank Form
Most of the time, the credit rating of the people who apply to banks for credit is checked. The points that will only give credit with promissory notes from the business with low credit ratings. Therefore, ethical risk is important for the points that will give credit with promissory note.
It means that the point that will give credit with promissory note makes a short research for the purchaser. If it is learned that the person is reliable and loyal to his debt at the end of the research, the amount is used. In fact, the conditions of the points that give money with promissory notes are similar to the demand for mortgages or guarantors.
This is valid only for people who do not seem reliable or do not have sufficient material storage. In addition, people can request the amount they wish from these points. Interest and commissions vary between 10 and 35 percent. The range of commissions may grow depending on the maturity, the amount requested by the person.
Does it Work Well?
First of all, it is necessary to consult the company or structuring from the urgent cash granted announcements. Along with the requested amount, the maturity option is also transmitted during this call. After getting short information about the restructuring customer, he decides whether to make the amount available or not. All these paperwork and research procedures take place a lot of time on the same day. Afterwards, the amount is given to the person in advance, and the promissory notes are signed in return.
The individual pays the debt of the promissory note and gets it back before the bill is issued. Normally he needs to destroy the bill completely afterwards. In order not to have any problems with the company, the terms, commissions, interest and payment conditions must be understood first before the notes are signed.
Credit To The Telephone Line
Another method of finding credit without a bank is the loans to the phone line. These credits are based on the transaction that you originally received a phone call. It means that the person using the postpaid line goes to the phone point of sale and provides a similar transaction as if he was buying a phone. Then, the person is given his money instead of the phone by the dealer. Only by the operator, since the sale of the phone has passed, the debt is reflected on the invoice every month. This transaction is based on the legal framework even more if the loan is taken into account. In addition, not all dealers who make phone calls will give credit on postpaid lines.
A short research on the internet is sufficient to find these dealers. The biggest difference between the deed and credit is that the amount to be requested is equivalent to the most expensive phone price. The amount of the amount depends on the person and the structuring while taking credit with the promissory note. Again, invoiced or even loan, insurance and file expenditures are not demanded in a similar way. Only the contract showing the monthly costs of the phone, which is added to the invoice, is signed.