After banks tightened the credit criteria, it was observed that loan companies have more and more customers. Currently, a few years after the worst phase of the crisis, banks’ regulations are gradually being liberalized, but it is still necessary to obtain from the client a lot of information checking the state of his finances before the application is considered.
In the case of non-bank companies, the situation is slightly different. They are not obliged to comply with the recommendations of the Polish Financial Supervision Authority. They must act in accordance only with the Civil Code and the anti-usury law. The criteria that must be met by the company’s customers can be set by themselves, so you can find loans for everyone.
However, can an Internet loan be borrowed by anyone, and loan companies in any way limit their loans?
There is a large group of well-established loan companies on the financial market that have loyal customers and experience in lending. Such branches have already established conditions for granting loans to their clients. In their case, a loan from the hand, or a payday loan, is intended for customers who have a stable, unquestionable financial situation. When the company has doubts about the reliability of the borrower, then it can ask for a certificate of the amount of income it receives. Additionally, when filling in a loan application, the client should indicate that he has – if he has – financial liabilities in other facilities and currently repaid loans.
Statements of this type are filed under criminal liability, so they should not be hypocritical or should be deliberately hidden. If they act in such a way, they can affect the client’s legal consequences.
Loan companies usually do not have access to the Credit Information Bureau databases. Therefore, they do not check their potential customers in the databases. This means that the history of lending is not important to them. However, all loan companies have access to the Bureau of Economic Information and the National Register of Debtors and are willing to use them to check the financial situation of the client. If the customer is entered into any of the registers, he is in arrears with repayment of debts incurred, then the loan is unlikely to be granted.
This is evident due to the fact that although non-bank companies advertise quick and easily available payday loans, not everyone can get it. It will be simple for customers who have a good and already proven history of cooperation with a specific loan company.