Payday loans with FCI are an interesting alternative when you need money urgently but do not meet the exacting requirements that banks put you. Although it is known for its file of defaulters, the National Association of Financial Credit Institutions includes entities from various sectors, among which are the banking, telecommunications, insurer and a long etcetera.
Many of these companies include among their services the granting of money, but practically none will grant it to you if you are in the register of defaulters. The good news is that the market offers you payday loans even if you are at FCI, where all these inconveniences disappear at a stroke.
One of the main demands that any bank puts on you when it comes to lending money is that you guarantee the loan. Depending on the amount, they can demand a payroll, a family member back you with their assets or put some property (usually a property) as collateral.
This can complicate things a lot when it comes to requesting a loan. Some of the entities that grant payday loans with FCI also require a property that you have paid at least half of the mortgage as collateral in case of not returning the money. However, not all work well and the conditions at the time of choosing a loan have been relaxed enough.
There are payday loans with FCI and without property
If you are going to ask for payday loans even though you are in FCI, keep in mind that the interest they will give you to return it will be higher than normal. If they also do not ask you to have properties, this interest may be around 20% and the total they will lend will be less than other loans (around 2,000 euros) with an average return period of about 17 months.
If you are in this situation, a good idea to better manage your economy can be to use these loans to settle previous debts and leave this register of defaulters. The steps to follow to request them are the following:
- Think about the money you need and the time you can return it.
- Find an entity that grants loans with FCI and without property.
- Send the online request They will ask you for a series of personal data to identify you.
- The majority will approve or not your request in less than 15 minutes.
- Once approved, you will have the money in the reference bank account in a few minutes.
How to avoid falling into a file of defaulters
The adaptation of the European regulation GDPR to the Spanish Data Protection Law has regulated the files of defaulters. So now it is necessary a minimum of 50 euros to be registered there (before it could be any amount), among other limiting measures.
Do not come any more than you know some tips to avoid taking the step to the file, these are some:
Reunify your debts
There are companies that are responsible for paying all your debts, so that you stay as the debtor of a single entity. This has its pros and cons and we advise it in serious financial cases, since one of its main disadvantages is that they charge high commissions.
On the other hand, having a very centralized debt and paying certain bills, it prevents you from having unpaid suppliers, with the consequence that you immediately enter the FCI file.
Longer return periods
This case is advisable when you have a mortgage and you have few installments to pay. Keep in mind that lengthening the term will mean you’ll have to pay more interest, but it’s an oxygen balloon in case you’re going through an economic slump.
The best thing in these cases is to go to your bank and negotiate with them, keep in mind that you will also be required to make a notarial document, with the payment of commissions that implies. But, after all, to avoid greater evils is one of the best solutions offered by the market.
Expand the capital
It is a solution that has been done for quite some time and that affects both payday loans and mortgages. As in the previous cases, this will cause the interest paid at the end to be higher, but it will give you extra time to get rid of old debts that, in most cases, will prevent you from granting future aid.
Where is the trick of the loans without endorsement?
The economic crisis that we have experienced recently has caused desperate situations that have made this type of business flourish. Do not worry because these companies or their products are of recent creation, as they respond to a new need of society. The important thing when asking for a personal loan with FCI is that you plan your budget well.
It is necessary that you know how to make a responsible contract, that is, be sure that you can face the payments and face a new expense. Finally, look well who gives you the best guarantees and conditions for the loan.
Given that this type of operations is usually paid with private capital, the only thing they will ask you is that you have a regular source of income, which does not mean that you need payroll. That is, you can be a pensioner, receive unemployment benefit or be autonomous and credit it. It’s enough for you to get it, yes, depending on this you can give more or less money.
It is necessary that the income lasts, at least, what will last the payment of your loan and in addition they must be regulated and be legal, that is to say, to have invoices or vouchers of the same ones.
In short, the market offers interesting payday loans with FCI that, not only will they give you money being on the list of defaulters, but they do not require you to present a payroll or endorsement. Whatever your situation is, you can correct it provided you act responsibly and demonstrate that you will have sufficient income throughout the life of the loan.