There are many reasons why you may not be granted a formal loan. Such a phenomenon is no longer a news after the tightening of the conditions for granting fast credit.
There are now many people who are no longer able to get the credit they want: over-indebted, unemployed, without official income, and others may have trouble trying to officially get instant credit.
Fortunately, such credits are not the only way to borrow
Informal loans are one way to get the loan you want through other channels, bypassing public lenders. They have their own advantages and disadvantages compared to regular fast credit, so you should think carefully before you decide to borrow informally. It is necessary to weigh all the pros and cons, otherwise, an informal loan can cause even more problems than a formal one.
For this reason, it is important to understand what informal loans are and how they are different from others.
Where to look for an informal loan?
The reality is that informal loans are much less common than formal loans. The latter have a well-developed infrastructure, so at least there are not many problems and obstacles to applying. You can try it online by visiting the service, filling out an application at the mall or even calling your creditor at home. Finally, you can borrow it directly from people today. The only problem, as we have said, is that such loans are now being denied to some. So if you are on the list of those who might have trouble getting it, you may need to look elsewhere,
Informal loans are special because they are easily provided to these risk groups. Whether you have a job, are in debt or have bailiffs, this is a minor problem when it comes to informal loans. Although you can also obtain them in many ways, informal loans online are far less common than giving them cash. Therefore, it is possible that you will need to meet face to face with the lender to obtain it.
Informal loans are issued to individuals
Who have savings and seek employment. You can usually find these people on ad portals where they advertise to lend money privately. Such private lending is great for those who have trouble getting a loan otherwise. Borrowing in this way is no longer subject to the same laws that restrict the issuance of instant loans through official channels. Sometimes such loans are not written at all, ie in a contract.
However, it should be understood that such a loan is also riskier and usually more expensive than others. Therefore, in order to obtain an informal loan, one should be prepared to pay more, even for a quick loan.
It is important to note that not all ads are authentic. Some people may seek to make a profit on your account without giving any credit. Therefore, never divulge your personal details or transfer any money into an account until you are 100% sure that the announcement of an informal loan is authentic.