Some time ago, banks issued loans to almost everyone who applied for them. This led to delays in payment and a large number of debtors. Now, getting a loan from a banking institution is quite difficult. This is especially true when the potential borrower is on the so-called black list.
The black list is information about unreliable clients who failed to repay the loan on time or systematically violated the terms of the contract. These individuals have shown their inconsistency as a borrower, and now the banks do not want to have anything to do with them.
There are three types of blacklists:
1. The list in a specific bank, which is intended only for internal use. It is confidential and not transferable to third parties.
2. Lists of collectors and bailiffs.
3. List of credit bureaus. In the credit bureaus, information about the unreliable payers are transferred by the banks themselves.
If a person is on the black list, then the probability of receiving a loan from banks is almost zero. Where, then, to get a loan?
If you do not know how to view your credit history for free or almost free of charge, then we have special material on this topic.
If the bank refuses to give you a loan, you can contact your credit broker for help. So called intermediaries who help the borrower in obtaining a loan for a rollback. To do this, they can use communications, experience and knowledge of the market in a financial institution. There are two main types of intermediaries, some work completely legally, others – not quite. The second type includes “black” brokers. As a rule, it is they who work with those people who have significant difficulties in obtaining a loan. Such intermediaries act not always by legal methods. For example, they can bribe or persuade a bank employee, suggest falsifying documents to their client, go on forgery or find another way around the existing standards and rules of the bank.
The advantages of credit brokers include:
• work with any clients, even those who have outstanding loans and who are on the black list;
• they undertake all the loan processing work, so the client does not have to spend time and effort on this.
There are a few more minuses:
• the risk of contact with fraudsters who lure the last money, but will not help;
• the risk that the bank finds out the truth and accuses the borrower of fraud, demanding the return of money;
• high cost of services (from 15% of the loan amount).
Credit donors are individuals who have a good credit history, so they can get a loan on favorable terms at any bank. The essence of cooperation with them lies in the fact that a credit donor draws a loan in his name. Naturally, in any case, the real borrower must repay the loan, not the bogus. It should be borne in mind that this is also considered a fraudulent scheme, because the bank issues a loan to a nominee, and not to a real borrower.
The main advantages of cooperation with credit donors include:
• an opportunity to get a loan with a low interest rate and on favorable terms;
• saving time and effort, as the donor deals with all issues;
• the possibility of a loan, even if you are on the black list;
The main disadvantages of loan processing with the help of a donor are:
• the likelihood of contacting fraudsters who will take payment for services, but the loan will not be processed (in some cases, scam artists manage to hang the debt on people);
• the risk that the fraud will be revealed by the bank, and the borrower will be required to repay the loan;
• high cost of services (cost depends on the loan amount and its conditions).
Recently, more and more people are applying for loans to microfinance organizations, which can now be found at almost every step. This is due to the fact that they work with all clients, regardless of their solvency and credit history. The peculiarity of this method of lending is that small loans are issued for a short period of time and at adequate interest rates. But at the same time for every day of delay a huge penalty is charged, and over time even a small loan can turn into a huge debt. As a rule, loans in microfinance institutions are taken by people who lack a little money to pay or purchase equipment.
Before applying for a loan, you should understand that you can return it. Otherwise, large interest on the debt will be charged, which in the end may exceed the loan amount several times.
Advantages of a loan in a microfinance organization:
• quick loan processing;
• adequate interest rate;
• A loan is issued to almost everyone who applies for it.
• only small amounts are issued, and for a short period;
• in case of delay, a crazy penalty is charged;
Lending of blacklists by private investors
Private investment today is one of the fastest growing types of lending. Private investors lend money at a certain percentage. They work within the law and operate legally. In one form or another, those who lend money against interest have always existed. But lately, when banks tightened the conditions for issuing loans, their services became very popular.
When making a small loan, just write a receipt with your data. In case of non-compliance by the borrower with the conditions, the lender may go with her to the court, since it is legally binding even without a notary certification. On the design of such a loan takes only a few hours. If we talk about large sums, then a contract is drawn up between the borrower and the private investor, in which the basic conditions are prescribed. Also, the borrower must pledge his property, the market value of which exceeds the size of the loan.
Making a loan from private investors has its advantages:
• Loan is received by more than 90% of applicants.
• Flexible lending terms. The interest rate and terms of payment depend on various factors, but the borrower can always try to make his own changes and agree. As practice shows, lenders often make adequate concessions.
• Quick and easy loan processing. Depending on the loan amount, it takes from several hours to several days to complete. There is no bureaucratic delay.
• An opportunity on the security of real estate to get a loan for almost any amount.
• Interest rate is higher than in banking institutions.
• The risk of contact with fraudsters. There are not so many really reliable and honest lenders, since various kinds of scam artists have chosen this niche. There are many schemes of deception (the use of the borrower’s passport data, the failure to fulfill obligations after receiving a prepayment, etc.).
When choosing a private investor should beware of fraudsters. It is best to contact a proven creditors, the reliability of which you have no doubt. In no case should you give an advance payment for services that have not yet been provided. If you are asked to pay money in advance, most likely, you are faced with a fraudster.
Where is better to get a loan if you are on the black list?
If you are on the black list, banks refuse to deal with you, and there is a need for money, then all alternative lending options should be considered. Each of them has both positive and negative sides. It all depends on many nuances. For example, microfinance organizations are ideal for processing a small loan. If you need a large loan, you should pay attention to credit brokers and private investors. In this case, you never need to lose vigilance, because when it comes to money, there is always a chance to face fraudsters.