Waterpots are quick loans granted by non-bank institutions, i.e. by financial companies, which are not supervised by the Financial Supervision Authority. They are granted to interested persons on the basis of valid identity card, in most cases (to facilitate the case) via the Internet, they do not require any additional documents, certificates etc.
Loans of this type are granted for smaller amounts than loans or credits, offered by verified banking institutions, but it does not mean that they do not cause problems and are easier to repay thanks to allegedly “more favorable conditions”.
Waitors are a tasty morsel for people desperately in need of money who have no chance of getting a loan or a loan from the bank because of a high risk of inability to repay debt or build up debts in other institutions or companies, and for those who need money at the moment (often on whims and frills or popular promotions).
However attractive are the words “fast loan”, it is not often a good solution for the household budget. Payday loans are a dangerous instrument. Companies offering such solutions, usually by advertising themselves with great conditions, attract people who really need help and desperate, as well as people who naively believe that someone will give them a lot of money within 15 minutes, and with repayment it will “somehow be”. After all, within 14 or 30 days we will definitely be able to pay it back.
Unfortunately, this is the policy of functioning of many companies offering quick loans, so-called “Chikkos.” They are focused on generating profits and are willing to help people “in need” rarely have anything in common.
A payday loan, yes, offers a lot of money (on average up to € 25,000) in a very short time (often up to 15 minutes on a bank account), but it is not magnanimous activities, with a desire to help. It’s a business-oriented policy.
As we can see above, if we are able to pay off the payment on time, we can assume that it is a positive solution, really helpful at the time of sudden lack of funds – ONLY THEN, IF WE DUE TO BE PAYABLE IN TIME! Any other situation, when we do not have the funds to repay, which increases interest from our debt (always considerable), additional fees are added (even for the consultant’s contact to inform about the lack of repayment), it can make us fall in very quickly a spiral of debts from which it will be hard to disentangle. So, before we decide on a quick loan – let’s think carefully about whether we really need it and whether we will be able to pay it back as soon as we received it.
If we have already decided on a solution, which are fast loans, it is obvious that the best solution is to repay it on time. If, however, we are unable to do so, if the repayment date has already passed and with each day interest is increasing, and there are also various additional charges, which are many and are not low amounts, first of all do not look for similar solutions. Let’s not take another moment to repay the previous one. This will only make the situation worse, because if we are unable to pay off one commitment – there are rarely situations that will succeed with the other (it is obvious that it is bigger and even more difficult to repay, and no one will give fast loans without end. In the end, you will be able to take another time to repay the previous ones – and then what?).
To repair the home budget and get money to pay off the payday – instead of taking the next one, we can look for some extra work. They may be small, one-time assignments or auxiliary works, which will allow to add up to several hundred euros a month to your household budget, which will allow you to partially pay off your payment. It is also worth looking around the house or apartment and if there are any items in it that we no longer use and do not need, it is worth getting rid of them by selling them. I am interested in knowing how to live with unpaid debts?
You can not only solve problems temporarily. In the case of debt, you must try to get a steady cash inflow, which (even in part) can be used to repay debt. It is important to pay your debts regularly and on time – in case of repayment problems. the company granting a quick loan, despite everything, looks differently at the person who for months has not paid the zloty for repayment of the growing debt, and differently perceives a person who, showing willingness and commitment, cares for at least partially covering the debt.