Monthly Archives: January 2019

Payday Loan without guarantors

A guarantor is obliged to repay the payday loan to the lender if the actual lender is insolvent. The legislature actually provides that the guarantor may only be taken into recourse after a fruitless forced operation. However, the usual practice in granting a payday loan is a contractual agreement under which a secure insolvency of the credit customer gives rise to the right to use the agreed guarantee. A summay is on

Credit institutions prefer co-applicants to guarantors

Most financial institutions prefer to grant a payday loan application without a guarantor, preferring a co-applicant to a low-credit client. The main reason is the strict treatment of guarantees by courts. Especially a guarantee for relatives and good friends triggers the suspicion to be awarded as a result of a strong social bond and without regard to the economic power.


The Bank can counter this by expressly informing the guarantor of the consequences of a guarantee and, at the same time, checking its economic conditions more rigorously than with the actual borrower. Another advantage of the payday loan applicant is that it is on an equal footing with the principal borrower and not only in the event of default for the payday loan repayment. Consequently, it is almost always possible to obtain the desired payday loan without a guarantor if the customer submits the application together with another person.

What collateral does the Bank use in granting payday loans without guarantee?

In order to obtain a payday loan without a guarantor and at the same time without a co-applicant, a positive Schufa information and a sufficiently high fixed income for the payday loan repayment are required. Contrary to this basic rule, Swiss banks grant their payday loans without asking for a Schufa and, as compensation, impose stricter conditions on their income and their security than usual. Even in the case of unsafe employment or a multi-source income, borrowing without a guarantor is possible if the claimant has Schufa information without a negative characteristic. In this case, immediate credit without salary allowance is most appropriate, with the obligation to provide correct information on total income, despite the absence of supporting documents.

The guarantee bank as a substitute for a guarantor

The guarantee bank as a substitute for a guarantor

Unlike payday loans to consumers, obtaining a payday loan guarantee is common to businesses. This will award a payday loan default guarantee for a small premium and replace the otherwise to be provided personal payday loan guarantee. Most borrowers perceive the payday loan agreement as having a guarantee given by a guarantee bank as a payday loan without a guarantor, because instead of a personally known individual, an anonymous institution acts as guarantor.

For the financial institution, however, the guarantee commitment of the replaces a personal guarantor in full. Especially when starting a business, state-owned guarantee banks offer their services to the founders. In contrast to most commercial banks, the state-owned promotional bank grants promotional payday loans to companies as well as private individuals in many cases without personal guarantor and without guarantee.

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Where to make a payday loan?

Where to make a payday loan?

Borrowing money is not always possible with friends or relatives and it is therefore important to explore your options for borrowing. Latvia has both bank payday loans and non-bank payday loans. What type of payday loan will be most beneficial for you is how much you want to borrow and for how long. You can read more about specific types of payday loans here .

Payday loans

Bank payday loans are likely to be more profitable in cases where it is necessary to issue a larger payday loan for a longer period of time. For example, if you need to make a mortgage payday loan for home purchase. Bank payday loans traditionally have more attractive interest rates on long-term payday loans, but this does not mean that long-term payday loans are not recommended to non-bank payday loanors.

How to apply for a payday loan in a bank?

Everything depends on the individual and the particular situation. If you need to draw up a long-term payday loan and you are not sure where to get the most payday loan, then it is worth to contact the banks and non-bank payday loanors to find out which solution would be the most advantageous – bank payday loan or non-bank payday loan.

Non-bank payday loans

The popularity of non-bank payday loanors has grown rapidly in Latvia over the past decade. Non-bank payday loanors offer the opportunity to borrow smaller amounts of money for a short period of time, where, for example, bank payday loans are usually available if it is necessary to borrow more money for a longer period of time.

Who are the most suitable non-bank payday loans?

The most popular non-bank payday loanors in Latvia are payday loanors who issue SMS payday loans and quick payday loans. This is probably related to the level of income of the population and the problems arising from it. People often need to borrow until the next payday and that’s why quick payday loans and SMS payday loans are so in demand.

Non-bank, short-term payday loans are easy to make and can be done in a convenient location and time using your mobile phone or computer. This flexibility and speed make non-bank payday loans attractive to people who need to borrow for a short period of time.

Payday loans, their types and objectives are very diverse. That is why each bank or non-bank payday loan issuer evaluates each application individually and following the guidelines set by the payday loan institution. If you are not sure which payday loan type to choose, then use Thomas to get acquainted with the different types of payday loans and in which cases which payday loans will be most suitable.

Payday loans on the Internet

Payday loans on the Internet

payday loans on the Internet have earned their popularity among users in recent years. payday loans on the Internet are available both in the short and long term. However, it is worth remembering that long-term payday loans will usually be more profitable for borrowing in a bank than on the Internet. It is worth exploring your options for both bank and non-bank payday loanors before drawing up a payday loan.

All you have to do is carefully familiarize yourself with the payday loans available on the market so that you can find the most convenient and advantageous type of payday loan.

All quick payday loans online

All available non-bank payday loans in Latvia can be viewed so you can choose the most suitable payday loan.

Despite the fact that quick payday loans on the Internet and other types of payday loans on the Internet are easy to access, it is important to remember to borrow responsibly, carefully assessing your ability to repay the payday loan.