Have you ever missed your chance to buy something – car, fancier dress, whatever – occasionally because you just didn’t have enough cash at the moment? Remember this feeling, when you’ve been saving your money for some time, still doesn’t have enough, but suddenly comes an opportunity to buy this thing cheaper, and you are missing just a fraction of what’s needed so it’s not enough and you’re going to miss the chance of a lifetime? Frustrating, right?
Now, you have a way out.
You can take a fast, emergency loan that you need only to show your ID to get it. So, if that’s your situation: you need fast cash with as little formalities as it is possible, you are sure that you can pay it all back – by all means, read on because this loan is made for you.
That’s one of the most important details here, isn’t it? But fortunately, the answer is: very fast. It may even take 15 minutes, provided that you have an account in the same bank as the loan provider. Of course, you can also use some fast payment platform to speed things up – some of the loan providers offer this tool to make the process of client identification as smooth as possible. You can apply for the loan online, so there’s no need for you to go somewhere and talk this through with whoever is responsible for new clients. That is why the decision about your loan may be made in minutes after your application. But what makes the process of getting the ID verified emergency loan so fast, is what the provider requires from you. See for yourself.
Well, the name of this loan is kind of self-explanatory. That’s right, you need to show your ID, so the provider will need all the information he can get from it: your name and address, as well as social security number, and of course, your ID number. Other than that there are really just a few details you may be asked to add:
• E-mail address and telephone number
• Monthly earnings
• Your workplace
• Do you have any previous credits
• Monthly expenses
• Marital status
• Bank account number
So – as you can see by yourself – your ID is the only document needed. When asked about your earnings and expenses you don’t need to show anything, you just declare the numbers by yourself. The same is with the marital status. It’s your ID that makes the provider feel safe enough to lend you the money you’ve asked for. But of course, your name will have to be verified somehow, especially when you’re applying online – the provider has to be sure you are not using false or stolen data. But that won’t be a problem and should not take too much of your time. What may take some time is bank account verification – usually, you have to pay some insignificant amount on the provider’s account, and you can have your loaned money only after your account is verified which may take some hours or even a whole day. But now you know how to deal with that issue (see paragraph 1.).
There are really good deals to find, especially when you are a new client. You can even find a deal that gives you the loan with no need to pay any additional expenses, like interest or insurance! In other words, you take the amount you want and then – after the time agreed upon – you give the exact amount back. But you have to pay close attention to the contract terms. Sometimes, the providers tell you that the interest rate is 0%, and – although it sounds promising – it does not exactly mean the same thing as was described above. In the loan with 0% interest rate, there may be some additional costs when it comes to insurance, or the provider intends to charge you with a high commission to the deal with you more profitable for yourself. But the real no additional costs deals are really there, and they are worth looking for!
Of course you are not able to foresee all the things that can happen, but you should think hard when you’re about to take an emergency loan. The thing is, you will have to pay it back all at once – this loan cannot be paid in instalments. So, you have to be sure, that you’ll be able to collect all the needed sum. And what is also important, the fast, ID verified, emergency loans need to be paid back quite quickly compared with other kinds of loans. Sometimes you have only a month or so to collect the money. That information should make you stop and calculate whether or not that would be possible in your situation.
Risk assessment cannot be overstated when it comes to ID verified loans. The reason is simple enough. If you don’t pay back the loan on time, the costs may be really significant, even when you are only a day late. Of course, some providers give you an option to prolong the time of your paying back, but they may charge you for that as well. So you have to analyze your financial situation and make a rational decision. Otherwise, it may turn out that the fast ID verified loan would be too risky for you to take.