Sometimes our financial needs tend to be larger than we expected. So what do you do when you have already taken out a loan, but it has been insufficient? Can you borrow more money from your hand at the same company? We decided to check how the lender works, when the client addresses them with such a problem.
Questions about the possibility of taking another loan before the actual repayment is everyday in non-bank companies. Unfortunately, a large group of lenders accept only one active financial commitment. So if it turns out that you borrowed too little, you will have to look for the missing amount from the competition.
On the non-banking market, fortunately, there are also institutions for which several loans at the same time are not a problem. After fulfilling certain conditions, you can apply for further financial support there, without having to repay your loan immediately. Some non-bank brands also allow you to “match” the required amount within the limits of the financial limit granted to the client.
Several active loans at once – who allows it?
You can get several loans from one installer at the earliest. In the case of payday cards, you can not count on such a facility, although there are exceptions to this rule (this issue will be explained further in the further part of the article).
Which of the installment brands allows you to have several liabilities at the same time? These companies along with the requirements that you must meet in this case are presented in the table below:
Companies that allow you to have several active loans
In the case of brands such as Provident or Ekassa, there is no pre-established policy for dealing with a situation where the client wants to take another loan before the actual repayment. Therefore, the lender’s decision may depend, for example, on the client’s financial capacity and the amount he would like to lend.
On the other hand, brands belonging to the company Aasa Polska ( Ratkomat , Aasa Polska , Gotówka Immediately and Ratka.pl ) in the situation of subsequent loans to customers who have not repaid their current liabilities, are guided by strictly defined rules. In all these institutions, you can have a second active loan, but only if you have repaid a minimum of half of the installments currently held.
The terms of repayment of a given part of the loan are also used by institutions such as Takto (repayment of at least six installments) or Fellow Finance (repayment of at least four installments required). In the case of the Takt brand , it should also be remembered that it allows only two active loans.
Another active minute in the same company, i.e. a few words exceptions
We mentioned earlier that in the case of obtaining another loan before the repayment of the current loan is practically impossible. An exception to this rule, however, is the Vivus brand , which allows you to select a loan within the limits available for a given customer. What does this mean in practice? Well, for example, in the case of the first loan, you can borrow a maximum of PLN 3,000. So if you applied for PLN 2,000 and received such a loan, you can still get PLN 1,000 during the term of the contract. This offer, however, has one catch – the payment deadline set with the lender remains unchanged. At the given time, you must pay off more than you initially planned.
Take a moment in Vivus
Several active loans in one company. Is it profitable?
At first glance, the ability to use several active loans in one company is the same – you do not have to submit a new application, the lender knows your credit history, you already know the terms of the contract, etc. However, you must remember that each loan has a price, and this means that the cost of your commitment increases and the final amount to be refunded.
The resulting debt will usually have to be paid back at one time, which may slightly erode your home budget. So before you apply for a loan even before paying off your current commitment, be sure to summarize the costs of such a move and see if you can really afford such a step. (Kg)