People who, for various reasons, have outstanding liabilities and longer delays in repayment of loans, appear in the LMPO register as debtors. Negative entries may prevent borrowing money from the bank and make it difficult to borrow from a non-bank company. Meanwhile, an installment loan can be an opportunity to get straight and help you get rid of debt. Where to look for installment loans without LMPO and how do they differ from payday loans with a short repayment deadline? When do we really get to the LMPO?
Installment loans without LMPO and quick payday loans
Installment repayment loans are slightly different from traditional payday loans. Both financial products do not always require customer verification in LMPO. Installment loans:
- must be paid in several, several or several dozen installments (usually the number of installments is from 3 to 36),
- are provided via the internet,
- allow you to apply for more cash, e.g. to pay off a small payday loan.
- require a one-off repayment with a maximum period of usually 30 days, unless the borrower has set a shorter period,
- require the organization of funds for repayment in a short time,
- are provided via the internet,
- they have lower amounts that can be claimed.
The installment repayment system means that installment loans without LMPO do not pose such a burden on the portfolio as payday loans. People who are trying to settle their debts to get rid of negative entries in LMPO will certainly be able to cope with smaller installments better than paying a large sum of money once.
Installment loans without LMPO – where should you look?
Currently, non-bank installment loans without LMPO are available online. On the internet, you can see which loan companies work together with the Credit Information Bureau and which don’t. The offers will be helpful in searching for offers, which present offers collected in one place with the most important information about the loan. They show the amount and number of installments that can be requested. It’s worth comparing different offers before submitting a loan application. It will not do without analyzing the financial situation, so that the new financial commitment does not worsen it and does not contribute to falling into the debt trap.
When do we get to LMPO?
Consumer data are transferred to LMPO when they apply for a loan. After granting him a loan, the financial institution provides repayment data. Both timely and late payments are recorded. LMPO also collects data on non-repayment. Consumers who repay the loan in accordance with the schedule attached to the contract, can sleep peacefully, because after the repayment, the information about the loan ceases to be visible to the lenders checking LMPO, unless they have agreed to process data on the obligations paid, but such information is ordered. Consumers who should have had their leg and did not meet the deadlines specified in the loan schedule may have problems because their debt may be visible even for 5 years. Everyone creates their own credit history in this way. What’s more, everyone who appears in LMPO does not have to be in debt immediately. If you honestly fulfilling its obligations, you do not have to look for deals on p ożyczki installments without LMPO, as it can use the services of companies that look LMPO. To be sure, you can download the LMPO report and use the guide on the Credit Information Bureau website.