Today, a hand loan is a popular product at a time of instant money transfer from account to account. It is often sought not only by people with distraint, but also, for example, pensioners, people without a bank account, or simply, and everyone who prefers personal action over the impersonal filing of an application over the Internet.
A hand loan can be a quick form like a bank loan. However, it has its considerable negatives and risks. What to watch out for and how to choose the best hand loan just for you?
Hand loan – where to get it and what are its risks?
Cash loan or hand, what do you need to know about it?
In the past, a cash loan was one of the most popular loans. The accounts were not so common, and the postal money loan always involved unpleasant visits to the post office. Today, a hand loan is an increasingly rarely offered service, yet we can still meet it. This is an ideal option for people without a bank account and often finding solutions for people in the distraint. As with an online loan, you usually need to apply for a hand loan over the internet.
However, you do not have to fill in all of your personal information as opposed to an online loan application. As a rule, simply fill in your basic contact details and the sales representative will contact you immediately to arrange an appointment.
This usually takes place the next day or according to your time possibilities. You will then complete the rest of the application with your sales representative. This means you will have to disclose information about your income, property and family situation. Then the sales representative, most often by telephone, will find out whether you have sufficient creditworthiness for the required amount and sign a contract together. Then you can earn money the same day.
Hand loan and its positives and negatives
What are the advantages and disadvantages of a hand loan?
Advantages of cash loan:
- Personal meeting,
- handling in your home,
- repayment at home,
- hand money,
- no upfront fees,
- without having to own an account or phone,
- loan available to pensioners.
Disadvantages of cash loan:
- Compared to a loan on account is more expensive,
- the need to be at home at the scheduled time,
- companies often require repayment after a week,
- partial loss of privacy.
Beware, a loan for a bill can cost you everything
In addition to classic non-banking companies, private individuals also offer a cash loan. It is a loan for a bill of exchange. Almost anyone can get this loan. Its providers do not look at your income or family situation and property. They don’t care if you are under execution or insolvency. Anyone can get a loan for a bill of exchange.
The disadvantage of a loan for a bill of exchange is that it is almost illegal. The private individuals who provide it often go beyond the law and have no trouble confiscating all of your assets, allowing them to have additional contracts that you sign when you use this “loan”. In addition, the loan for the bill of exchange is also liquidated by its usury interest. If you need a hand loan now, please contact one of our recommended non-banking companies.