Features of lending in MFIs in case of delinquencies on loans
If you want to get a loan after delinquency of the previous loan,take your time. To begin with, it will be useful for you to know where to apply for financial assistance, and how to properly apply. Just say that the new microloans allow you to issue instant loans even to the most penalized citizens. But in order for the money to be loaned on the best terms, it is still necessary to know several important points.
Who issues a loan when there are delays?
Our first recommendation is that you do not waste time and effort on contacting banks. Take a loan, if there are delays, in such financial institutions you will not succeed. But even if the bank agrees to meet you halfway, for example, because you are the holder of its salary card for many years, the loan conditions will not be the most attractive:
- Limited loan amount. As a rule, you can take no more than 25 000 rubles;
- Short term of debt repayment. You should not expect that you will be approved for a long-term loan after a delay;
- Increased interest rate. Bank offline or online loan, if there are delays, at a standard rate you will not be offered. The rate will be calculated for you individually, taking into account the damaged KI.
Once again, we note that in most cases, banks do not give a loan after a delay. Even if the borrower is ready to bring guarantors and provide certificates from work.
But all of the above does not mean that the loan after the delay is not available to you. You can get a certain amount quickly, without refusal and around the clock. Moreover, the money can be given to you both in cash and by instant transfer to a bank card. All you need to do to get a loan is to make an online application via the Internet on the MFI website.
Why do MFIs approve loans to borrowers with delays?
Microfinance companies are ready to provide urgent assistance to borrowers with almost any credit history for two reasons:
- shortened terms of crediting;
- relatively small financial limit.
MFIs take increased risks,issuing money to unreliable customers. And in order to reduce them, they provide for limits and restrictions – especially noticeable for new borrowers. The benefit of microfinance organizations themselves is, of course, in the interest rate – it is higher than the average interest rate of banks.
On the other hand, for a short period of lending, a huge overpayment on a microloin simply does not have time to accrue. Therefore, both sides of the transaction remain in the black – both the lender and his customers.
Recommendations for choosing an MFI with delays
If you want to increase your chances of approving a loan application,choose an MFI guided by our recommendations:
- give preference to new companies. Those who do not yet have an accumulated circle of customers, and who are ready to expand it at the expense of "any" borrower, including those from the category of unreliable;
- choose an organization whose website indicates that it issues loans to citizens with a damaged credit reputation;
- if there are open delays, contact the MFIs that analyze applications for microcredit using an automated scoring system. The likelihood that your request will not be rejected if it is considered without human intervention is higher.
The number of microfinance firms is constantly growing. Therefore, having received a refusal from one MFI, do not despair, contact another company.
What documents will the MFI require if you have a delay?
Microfinance companies always require a minimum of documents from their potential customers. If you apply to the MFI, after the delay of the loan to another credit institution, you will also not need to collect a lot of certificates. All you need to properly apply for a microloan is:
- passport of an adult citizen;
- TIN (in the absence of a code, it is sometimes impossible to issue a cash loan – MFIs insist on its presence).
No. The list of actions you have a standard. Initially, MFIs do not divide customers into any categories: information that you have had or have active delays, companies receive already at one of the final stages – consideration of the loan application.
How to apply for a micro loan?
The process of applying for a microloans is as follows:
- select the term and amount of the loan;
- apply for a questionnaire. Be careful and honest: you should not hide the presence of previous or active delays – it is false information that can cause refusal. It's not that you have debt now;
- verify the card on which you want to receive money. The card must be named and issued in your name. On the balance should be about 2-5 rubles for temporary freezing;
- expect a response from the representative of the MFI. If the decision is positive, the finances will be transferred to your card without delay.
But get ready for the fact that an additional check may be carried out against you – an employee of the MFI can contact you by phone to clarify the information.
What will the delay of microcredit lead to?
Licensed microfinance organizations conduct their activities legally, and therefore have the same rights to collect debt as banks. Refusing to pay the debt once again, you will face responsibility:
- increase in the interest rate and accrual of penalties (strictly in accordance with the terms of the loan agreement);
- information about non-payment is transferred to the UBKI;
- transfer of the case to collectors (a clause on this will also be present in your agreement with the MFI);
- transfer of the case to the court (sanctions for malicious deviators).
How to prevent delay before the MFI?
In order to make life easier for borrowers who unexpectedly find themselves in a difficult financial situation, almost all microfinance organizations provide an opportunity for prolongation. Terms of service:
- registration of prolongation is free: the borrower needs to pay only the already accrued interest, the body of the loan can not be repaid yet;
- after ordering the service, the standard, not the increased interest rate, begins to operate. Credit history does not deteriorate, penalties and fines are not charged.
The prolongation period is usually left to the client's choice. In some MFIs, you can use the option an infinite number of times (the main thing is to pay the interest rate).
