The slogan is very often used in advertisements for posters or on billboards, but we don’t always know what the so-called payday word really means, despite the fact that the term is very popular. We know, however, that it is associated with a loan taken for a short time as the name suggests.
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As it turns out, payday loans are a great solution for people who don’t have any income or can’t show it and need cash right away. These types of loans have become very popular recently and are being used by more and more people. In other words, payday loans are loans granted to people who have a very high income or no income at all, because of this instant loans are massively spreading among Poles.
Their popularity is mainly due to mass advertisements that offer us this type of loan. Very often, advertisements show that these offers are very attractive and beneficial, and therefore it is worth using them. The reality, however, is a bit more brutal, because so-called payday loans are very expensive and their late payment can bring us painful consequences.
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Loans or so-called payday loans are often hidden under other, perhaps less popular, slogans, e.g. loan without a loan, payday loan 0%, loan in 5 minutes without obligations, cheap loans or a loan for everyone. Such slogans always bring us to one, i.e. to the popular payday loan.
If we are convinced by TV commercials and we decide to take the so-called payday loan, we must take into account that it is a loan with a very high-interest rate, even up to 30%, so if we decide to do it, let’s make sure it is taken in the bank.
Documents necessary to take out payday loans
As the name suggests, these loans are loans taken for a while, which is why the whole procedure is much more simplified than in the case of other loans, e.g. cash loans. Nevertheless, to take such a loan, of course, we will need an ID card and a second document confirming our identity.
The next necessary document will be a bank statement from the last month. Then you will also need a certificate from the workplace about your earnings or, in the case of pensioners, the decision to grant a disability pension, as well as the last pension or retirement pension slip. If we collect these documents, we can apply for a loan.