MonthOctober 2019

Help for those in debt

One loan and one low installment. If we were able to fund our home budget in such an easy way and we practically do not feel the consequences at all because of this, why not repeat it? In this easy way, not one person has fallen into debt, to get rid of it is not so easy.

Since we have no problem with paying the installment, the second one cannot harm us. We forget, however, that now we will have to pay not one, but two installments, which together constitute a slightly higher amount. But what have we done there and this time. At some point we fall into the so-called a vicious circle and we come to the point where our home budget doesn’t want to stretch any more and we can’t afford to pay all installments according to the repayment schedule. We are beginning to extend the due dates, which is associated with further costs. However, this does not help anyway.


Further payment delays

Further payment delays

We are starting to choose which debts we pay this month and which debts next. In this way, we are in arrears with payments more and more. For late repayment, banks and lenders begin to impose interest on us. These are not small, but especially in non-bank institutions. We are threatened with a negative entry in BIK and KRD, or even, we are already in these databases. All this makes our creditworthiness equal to zero. Thus, we have no chance for additional financing in the bank. Is this the end of our possibilities? Fortunately not. There is also a way out of this situation.


Help for those in debt

Help for those in debt

We took the appropriate steps – we began to thoroughly analyze our expenses, save money, undertook additional work and increased our revenues. Still, we can only dream of paying off all installments on time. The bank again refused us additional funding.

A loan for those in debt may be the only way to solve our problems. This is a product offered to us by institutions outside of Harry Belmond. They determine what conditions must be met to obtain a loan for those in debt and do not have guidelines imposed in advance. Besides, this is not always talked about, but the non-bank product market is intended for people who banks refuse funding for some reason. That is why loan companies approach our creditworthiness much more liberally, opening the way for loans to a wider range of clients.

Loan agreement – everything you need to know

As consumers, we are increasingly making thoughtful decisions related to our personal finances. This is due to education about saving and caring for the household budget. In the period of consumption rage and fever coming Christmas, we often succumb to the temptation and reach into the wallets for the accumulated savings. If you do not have them – resorted to the conclusion of the loan agreement or the recently popular “loan.” Regardless of whether you act as a borrower or intend to borrow a round sum of relatives asking you to do so, you need to know what such a contract is, and what provisions to pay special attention to.

Loan agreement

The loan agreement has been regulated in the Civil Code (art. 720-724). We wrote here about what makes it different from the loan agreement. When drawing up this type of contract, you must pay attention to the important provisions it should contain. We include:

1. Identification of the parties to the contract

So who grants the loan ( lender ) and who lends ( borrower ). If the contract is signed between two natural persons, enter their personal data (name, surname, home address, PESEL, personal ID number). If one of the parties is a legal person, data such as: full name, address and NIP, KRS, REGON will be necessary.

2. Subject of the contract – what do we borrow?

We indicate here the amount of the loan or movable items marked according to species . the quantities, measures or weights that are the subject of the loan.

3. Date and place of conclusion and termination of the contract

Please indicate the date and place of the conclusion of the contract and the time of its termination , associated with the return of the loan and the manner in which the return takes place (cash, non-cash transaction). In addition, specify: what is the loan repayment time, by which the borrower undertakes to repay the loan amount to the lender. If the loan repayment date has not been set and the lender terminated the contract with the borrower, the borrower has 6 weeks to repay the amount he has borrowed.

4. Form in which the contract is to be concluded.

The Civil Code reserves the document form for the loan amount exceeding PLN 1,000 . Thus, in principle, the loan agreement does not have to be in writing. Remember! It is worth, however, to secure your business and make a written contract – even if you borrow money to a relative whom you trust immeasurably, you never know if such a document will not be useful to you in future evidence.

5. Consequences of late repayment

The lender may stipulate in the contract the consequences of failure to pay the liability on time. Here we provide information, including on the interest which the borrower incurs in connection with the delay.

6. Website signatures

As soon as the signing parties sign the contract, it enters into force and takes legal force .



If you act as a borrower, you have 6 months from the time the contract is concluded for the funds or items lent to be issued to you by the lender. After this date, your claim will expire. The time of delivery of the item is usually specified in the loan contract, otherwise the limitation period begins on the date of the contract .
The lender’s claim for the return of the subject of the loan and the borrower’s claim for its issuing are property claims – therefore they expire within 3 years.

Are you planning to enter into a loan agreement ? Its provisions are extensive and not fully understood by you? The best lawyers will do it for you and check your contract!

Or maybe you act as a lender and want to include in it important provisions from the legal point of view? Describe your case and receive offers from lawyers from all over Poland!

Detailed analysis of consolidation loan proposals

If we are among those interested in taking a consolidation loan, we certainly need to be aware of what factors have a direct or indirect impact on the attractiveness of such a commitment. Much depends here on the circumstances of the case, as well as the preferences of the person interested in indenting such a loan.

Detailed analysis

Detailed analysis

You have to remember to build a proper information base in this area. You also can’t rely on emotions or general information. When it comes to financial matters, particulars matter and you should focus on them. One of the stages of the decision-making process relating to consolidation loans is undoubtedly the thorough analysis of the offers that the market has to offer in this area. There are really many possibilities here, because various types of banking institutions have such a position as a consolidation loan in their offer. We must therefore carefully look at the details of the available proposals.

Consolidation loans

Consolidation loans

In the case of consolidation loans, there are many different factors that we must pay attention to. When it comes to the offers of this type of commitments themselves, parameters such as:

  • total costs related to the consolidation loan
  • loan period
  • banking institution’s requirements for potential borrowers

It is also very important to find out whether the proposal concerns a traditional consolidation loan or a mortgage variant of such a commitment. In the latter case, real estate is the collateral for the payment.

When it comes to the total costs related to the consolidation loan, parameters such as interest as well as additional costs are important here. Many people only look at the issue of interest, while this is not the only parameter that we must remember. In our analysis, we must include the full amount that we will have to return to the bank, in addition to – of course – the amount we obtained with the help of the consolidation loan. In advertisements and other general sources of information about offers of this kind, the issue of total costs is determined by means of the Real Annual Interest Rate, i.e. APRC. However, we must remember that it is then calculated on a representative example, which is based on demonstrative information available to the bank. Our case may therefore turn out to be completely different and we must remember that.

The loan period is important.

The loan period is important.

The longer it is, the more interest will be charged to us and, as a result, the total cost of the loan will increase. Many people do not want to enter into a long-term contract with a bank, which is why they can look for offers with a relatively short loan period. However, it should be remembered that such a solution can often be associated with a rather high monthly installment. In addition, when looking for, analyzing and applying for a consolidation loan, the issue of our budget also plays a very important role. We must ensure that we can pay the receivables on time. In addition, we must relate the terms of the consolidation loans found to the total commitments we have paid so far that we want to combine. Due to our interest in taking a consolidation loan, there is undoubtedly a lot of analytical work ahead of us.