Options for extending the repayment deadline or spreading the loan over several installments require the customer to take into account the costs. Although convenient and sometimes necessary, these options also cost money and sometimes it is worth considering whether it is better to just expose yourself to a few days of interest. A lot depends on the company in which we have a loan. Some parabanks appreciate these solutions and may demand up to several hundred zlotys more for prolonging or breaking down the commitment into installments.
Costs can be very different
So you have to ask for the price before using these options. However, when it comes to interest, its value is limited by the 14% threshold per annum. So it can be easily calculated that if you are a few days late with repayment of payday loans in the amount of $ 500 or 5000 it will be a small additional payment to the whole amount (several dozen zlotys). Compared to the cost of renewal, this is not only a financial saving, but also no need to fill out many different documents, submit additional applications and wait for consideration. It is worse if the company does not stop at interest and sends reminders by mail or makes several calls. Then the cost of such a delay increases, but it is still not the amount exceeding the cost of the extension, and if it comes to a few days, it is worth trying to wait. A longer delay is not advisable, especially since ignoring prompts and telephones leads to sending to the customer’s address a person acting as a field indicator whose work costs (of course not the company).
When the debt is still there
Any outstanding debt is a big problem. And this is not just about increasing costs, but about the possibility of being entered in the databases as an unreliable borrower. Delays with the payment of liabilities will appear first in BIK (it is enough to delay about a month), and later in the registers of debtors – KRD, BIG. The creation of such entries will seriously impede any further investment, prevent you from receiving a bank loan or buying anything in installments. To be able to have clean bases again, you will need to submit an application for deletion of entries, naturally after settling the obligations. Therefore, everything must be done to settle the debt before the company decides to send data on the next debtor to the appropriate registers.