Payday loans for 500+. Can I borrow at 500 Plus?
Are you wondering if the loan company will take into account your additional income from the government program Family 500 Plus? In the text you will find the answer to this question! Check if you can take out a loan for 500+!
Most loan companies check the creditworthiness of their clients at BIK, but they do not require a certificate of income. This means that if they have a positive credit history, they are able to get cash, even if their income is undocumented. In the second case, when the lender requires proof of income, he takes into account not only the employment contract, but also any other sources of income, such as additional funds from the government program Family 500 Plus. Can you take a loan for 500+?
500+ program - what is it about?
Probably every citizen of our country has come across the concept of 500+ and the controversies surrounding it. Do you know what the government program Family 50 Plus is about? If not, don't worry, we'll try to bring it closer to you shortly.
The 500+ family is a program to support parents. Initially, the title benefit of $ 500 was granted only for the second and each subsequent child, but the conditions changed. Currently, each parent can apply for the 500+ benefit and it is paid up to the age of 18.
Moment for 500+. Is it possible?
The 500+ benefit is paid monthly, so it is an amount that is included in the family's permanent income. This means that by receiving it, each parent's creditworthiness slightly increases. Thanks to this, when applying for a loan or credit, the borrower can demonstrate this benefit as a permanent source of income. However, it is worth remembering that without another, additional source (e.g. an employment contract) the service itself may not be enough. $ 500 may be too low to take a loan.
Which companies grant loans for 500+?
In practice, the "500+ loan" is a marketing gimmick well thought out by loan companies. After all, it is not the source of income itself that counts, but its amount. Many non-bank companies accepting different sources of income will also accept the 500+ benefit as the applicant's permanent income. However, it should be remembered that this benefit is paid for children - for the improvement of their material and living situation - and should be used for this purpose.
A loan for 500+ - who can get?
Non-bank companies have much lower requirements for borrowers than banking institutions. To apply for a payday loan, you must meet the following conditions:
- be over 18 years of age - loans are granted to adults,
- have a valid ID card and be a citizen of the Republic of Poland.
- have an active mobile number as well as a bank account - lenders use various verification methods, one of them may be a phone call. A bank account is, in turn, necessary to withdraw funds from the loan,
- positive creditworthiness - although there are loans for debtors available on the market, it will be much easier for you to get a payday loan if you take care of your creditworthiness beforehand,
- constant income - thanks to it you can prove that you are able to regularly pay off the loan installments. You can count the 500+ benefit as one of the sources of regular income.
Check the online payday ranking! >>>
When deciding on a non-bank loan, it is worth taking a closer look at the conditions offered by various companies. Use financial comparison websites and payday rankings to choose the best offer. After deciding on a specific lender, fill out the application carefully and read the contract before signing it. Good luck!