I do not pay back payday pay – what can they do to me?

Payday loans are short-term loans very often found on the Internet. They are easily available and the procedure for granting them is dynamic. Cash can be expected shortly after the verification transfer was made.

It happens, however, that we are unable to meet our financial commitment. This, unfortunately, has some consequences. An unpaid payday loan can go on for a very long time. What can happen to an unreliable borrower?

An unpaid payday payday – not as bad as it is painted

An unpaid payday payday - not as bad as it is painted

First of all, you have to remember one thing – unpaid debts are not the end of the world. Many companies operating on the market even encourage you to contact customer service in the event of problems with repayment. Specialists working there know different ways to get out of the stalemate.

The procedures operating in a given facility allow this. The fact is, however, that the client cannot delay informing the lender about problems. It is best to contact him before the date of repayment. Remember that the lender wants the money to reach him eventually. Unpaid debt, even with interest, is no refund.

An unpaid payday payday may be extended

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The payback period can be extended by another month. However, you must remember that every company has its own rules. A certain rule, however, is that we can get an additional 7 to 30 days. However, this involves certain, contractual, surcharges. They usually constitute from a dozen to several dozen percent of the borrowed amount. However, one should remember that postponing debt repayment will not change anything indefinitely. Time to face the problem.

Experts working for E-Money, one of the largest and best known loan company in Poland, meet the needs of the client. First of all, they advise you to give yourself more time to settle your debts, as described above. Fortunately, this is not the only way to deal with the problem. There are still others, but you have to take into account their consequences during delays in paying the arrears. What can be more specific to a customer who defaults? First of all, you will have to pay extra fees. This is interest for late payment. In the case of the described financial company, they are four times the Good Finance loan rate of the National Bank of Poland. This is the price at which the NBP grants securities lending to banks.

Wong’s unpaid payday loan

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First of all, it is important that if you are not completely reliable in paying off your debt, you go to the register of debtors. This is basically an action that all lenders take, so E-bank.com is not a shameful exception. You have to reckon with the fact that unpaid debt will be a certain obstacle, especially noticeable when it is necessary to take a loan or credit for an important, sudden purchase.

What else can happen to us as debtors? The costs that must be incurred are related to the interest accrued. Their statutory amount is 14 percent per annum. Fortunately, this is the only fee to be paid. Therefore, you do not have to worry that you will have to bear the costs for subsequent prompts. Many times, many lenders have to pay such fees.