As for payday loan terms and interests, although it may seem strange, there is not much difference with respect to normal payday loans, no particularly high interest rates or other very demanding clauses for the borrower are imposed.
What are the conditions that I must meet to be granted a payday loan with list of defaulters?
Although the conditions of companies that accept this type of payday loan with list of defaulters are much more relaxed than that of banks, basic requirements must be met.
On the one hand, these companies can demand from the user that they have well-accredited identification data as well as documents proving that they legally reside in Spain. Some entities require the subject to prove having regular income or some proof of solvency.
In addition, the age of the applicant of the credit in most cases is usually a requirement . For example, having more than 23 years (depends on the entity) and, almost as a general rule, the applications of people who appear in the delinquency file for debts owed to banks, or of an amount greater than € 1,000, are not allowed. .
Documentation required to grant a payday loan with list of defaulters
The documentation required will be based on the conditions described above. This process is going to be much simpler than the one used by the banks or the usual credit entities, since it will not take the applicant more than 5 or 10 minutes since the documents will be able to be delivered instantly and online. .
The requested documents must prove the identification of the applicant and their legal residence in Spain, such as the NIE or the DNI. Also, it is normal to ask for proof of the solvency or of the perception of income (such as the latest payrolls), as well as the documentation that allows knowing the reason and amount of the debt for which it is included in the delinquency file. In some cases, they can even request the identity of the creditor. Finally, the usual thing is to ask for some means of contact to send documentation.
If all these conditions are met, be in possession of a customary income, reside in Spain, know the debt for which you are included in list of defaulters , meet the age of majority required by the entity and not exceed the amount in the application, then the chances of success are assured.
What happens at the moment they include me in list of defaulters?
When a company associated with list of defaulters includes the information of a person in its file for having incurred a non-payment , whatever the amount, banks automatically close all possibilities to that person to obtain a credit. What minimizes the risks of the company to the credit applicant
At the other extreme, you would find the debtor who, from the moment he is included in a delinquency file, must be aware that it will be impossible to request a payday loan while at list of defaulters and that a bank will grant it.
And being included in an list of defaulters file makes the user technically a defaulter . This means that in the face of financing companies these people will have more problems when requesting any amount, since they do not provide confidence to financial institutions.
Late payment usually has a strong negative impact on the viability of the companies that evidently look for the clients that provide the greatest confidence in order to obtain the recovery of the amounts owed.
However, thanks to the new online financing channels that have been opened on the Internet, the possibilities of obtaining a payday loan with list of defaulters have grown considerably, making it possible for consumers included in a file of defaulters to be successful.