There are situations where you need credit, fast and easy, without paperwork. In a financial emergency, when unexpected costs come to you and savings are used up, you can not deal with lengthy comparisons of various offers, but above all you need one thing: money, and maybe even the same day. But this situation is exploited by banks and credit intermediaries to impose high interest rates. With a little preparation, you might get cheaper and still quickly get the money you need.
Saving is the best solution
Two or three monthly salaries for emergencies on the high ridge, that may be difficult, but with a little patience and discipline, you can give yourself the reassuring feeling of not slipping into a financial slump with every nasty surprise. The second best solution is the Dispo, which is the overdraft facility on the current account. This loan is quick and easy to have because you do not have to ask anyone extra. The bank tolerates you going down with your account. However, you should beware, of course, to include the Dispo in your financial planning. There are two reasons for this: Firstly, if you pay for regular consumer spending from the Dispo, it is not or at least not available to you in full if unexpected costs are incurred. And secondly, the collection is pretty much the most expensive way to borrow money. Interest rates of 10% are quite common.
Really fast, it is only on the Internet
Good advice on savings and dispensers is of no use if you simply need fast money in an emergency. Through direct banks and specialized intermediaries, you can find credit quickly and easily on the Internet. You may provide some personal and financial information, may upload some scanned or photographed documents, and the online exam may be completed in no time. In the case of a positive decision, the payment is initiated immediately, and the networking of the banks allows a credit even on the same day. You do not even have to leave the house for that.
Installment loans are significantly cheaper
An installment loan is not quite as fast as the use of the Dispos and the Internet credit, but if the bank knows you and your financial circumstances, you face also no weeks of paperwork. A very sensible option for the installment loan is the rescheduling. If you have exhausted the system and imposed other small loans with high interest rates under time pressure, the installment loan offers a good way to reduce the interest burden and to bring order into your payment obligations. By extending the term, the rates can be designed so that they are affordable from current income without too much pull-ups and new unplanned expenses do not bring you right back to the brink of financial disaster.