There are many reasons to want to obtain a loan from a private person. Be it so that this loan does not appear in the Credit Bureau and burden your own credit rating, or for other, often serious reasons. Unemployment, poor creditworthiness or existing entries in the Credit Bureau can often make a regular loan impossible.
In this case, many people turn to private lenders to get out of financial difficulties or to be able to make certain payments or repairs. There are various ways to get a personal payday loan.
A private loan – unbureaucratic from your own environment
The fastest and often easiest way to get a personal payday loan is in your own environment. Irrelevant whether within your own family or among friends. Usually, there is always someone there who is solvent enough to help the borrower. Unless the desired loan amount is very high, or the reasons for the loan are not understandable, no potential lender will usually oppose it.
One can convince here above all by the interest offered and a clear and above all structured statement of the reasons for the desired loan. A loan for the repair of the required car is given rather than a loan with which a new part of consumer electronics is to be acquired.
A credit agreement even among friends
It is important that a credit agreement is drawn up among friends and relatives. This not only serves as security for all parties involved, but can also convince the lender of the borrower’s serious intentions and make the approval of the loan more likely. Such a contract can be informal and should include certain information. First of all, the loan amount used. In addition, the names and addresses of lenders and borrowers with their respective names as the same. Furthermore, the agreed interest and the types of repayment should be included.
This can include both a specific key date or a date on which the loan including the accrued interest is to be repaid to the lender, as well as an agreement on payment in installments by the borrower. The more precisely everything is broken down, the more security such a contract offers for the lender. If both the lender and the borrower have signed the contract and both have a copy of the contract, the contract is legally valid and can serve as evidence of the lender’s claims.
The last stumbling block is often the transfer of the agreed loan amount. Because evidence of this handover should also be provided. For that there are different possibilities. On the one hand, as a lender, you can have the borrower acknowledge the transfer of the money.
You can also ask a witness to be present at the handover and to testify. The easiest way, however, has proven to be the transfer of the loan amount. In the subject of the transfer, the loan can be named exactly and thus it can be proven for a longer period of time. In the event of a dispute, this can be used to provide evidence that the loan amount specified in the contract has actually been transferred.
Personal payday loans over the Internet
Many people shy away from asking friends, acquaintances and relatives for money. For these people, the Internet offers a number of ways to also get a personal payday loan. However, this requires an existing and permanent job and sufficient creditworthiness.
There are several brokerage platforms on the Internet that specialize in brokering personal payday loans. In order to increase security for everyone involved, these brokers check the creditworthiness of the applicant when registering. It is only possible to submit a loan application once this has been confirmed.
These loan requests must be created individually each time and should usually contain certain information. On the one hand, of course, the estimated loan amount and the interest that you are willing to pay for this amount. The loan application should also include the repayment period and the respective repayment modalities. In order to increase the chances of the application, the borrower should provide significantly more information.
Both the reasons for the loan, as well as a description of your own life situation are helpful in promoting the trust of the possible lenders. Since this trust is intrinsically important, the borrower should invest the appropriate time and effort in formulating the loan application. If the loan seeker now unlocks the corresponding loan application, it is open for inspection on the respective intermediary side. Potential lenders can search the applications based on their financial resources and select suitable borrowers.
The contact between the borrower and the lender takes place via the chosen mediation platform, which is also used to implement the contract. Thanks to the standardized contracts, the respective loans can now be realized easily and without effort. The brokerage platform earns a small brokerage fee, which is usually paid by the borrower. The time required for such a platform should not be underestimated. Since both the activation of the account and the preparation of the loan application take a certain amount of time, you cannot expect quick payment. Finding a lender can also take a while.
So there are different ways to get a personal payday loan. Especially when things have to go quickly and the desired amount is rather low, it is worth looking for a potential lender directly in your own environment.
For larger amounts that are not needed immediately, the platforms on the Internet offer an ideal way to find a lender. The more detailed you formulate your own loan application and the more information you provide about yourself and the required loan, the better the chances of finding a suitable lender and realizing the loan.