Payday Loans without Schufa by Private Lenders

A private payday loan is usually always the case, as individuals can not easily get insight into the schufa of other individuals. As a result, private lenders have no way of verifying the creditworthiness of the borrower, unless the lender shows proof of his income and a copy of his own Schufa record.

Usually, however, personal payday loans take place in a friendly environment, where the loans are insured much less. The payday loan, which is often only in relatively small size, should help the borrower usually only through a financial bottleneck, so friends, family and other acquaintances then tend to tend to issue a small payday loan – regardless of the creditworthiness of the borrower. The payday loan itself does not necessarily have to be secured in a loan agreement, whereby the amount and, above all, the relationship between the two persons is decisive.

If the relationship of trust is very high, as for example in the case of a loan within the immediate family, no proof of creditworthiness is usually required, nor is a credit agreement so usually set up. Instead, the payday loans without private Schufa in their repayment terms are clearly defined in advance, which also subsequent changes are possible. So that the borrower can pay off the entire sum in advance or, in the event of a difficult financial situation, can only pay or suspend a rate at a reduced rate.


Personal payday loans complete without Schufa review

There are also portals available for personal payday loans that bring private lenders together with private borrowers. Here then there is no closer relationship to each other, which is why the credit is also issued on the basis of creditworthiness. These personal payday loans, unlike “friendly loans” usually have a high interest rate and are therefore only recommended for the borrower when there is no other way to borrow.

However, private payday loans via portals are just as conditional as loans via banks. Ideally, the borrower for loans without Schufa of private always decides for loans from the private sector, since the conditions can be adapted much more flexible and the interest rate is either 0 percent or only very, very low.

Logically, this type of loan is only possible if the borrower also has suitable people in his environment. After all, on the one hand, the private lender must be prepared to provide the money as well as, of course, first of all have to dispose of the money. Only if both of these conditions are fulfilled, can then be made with or without Schufa review, the loan.

Personal Loans For Retired People

Contrary to popular belief, the need to obtain access to credit is transversal to all phases of life. The retirement age is typically seen as a phase of life in which people already have their financial situation minimally stable, but this does not always correspond to the truth. For this reason, we are seeing an increasing demand for credit for pensioners.

This new reality can not be dissociated from the crisis that plagued Portugal in recent years and has altered the habits and paradigms we had as normal. Personal credit applications rose to unprecedented levels in the country, mainly as a result of the need to meet urgent expenses.

Nowadays, retired people already account for about 20% of the Portuguese population, which shows that this segment of the population has increasingly turned to personal credit.


Reasons for Retired People to Use Personal Loans

As we know, reform should be synonymous with stability. A time when people should be able to enjoy life, do what they like best and be close to the family.

It turns out that the crisis that left marked marks in a large part of the Portuguese population also hurt the retired people, taking this age group to a financial situation more unfavorable than they had ever anticipated.

Knowing that one out of every 10 Portuguese pensioners is currently over-indebted, we can and should question the reasons that lead the retirement age to subscribe credits.

The two main reasons that lead retired people to resort to personal credit are:

  • The need to help their children : the active population has lost much of its purchasing power and many people are at risk of default. Thus, many retirees decided to take credit to help their children, thus preventing them from coming into default.
  • Pension cuts : Many pensioners were also substantially affected by unexpected cuts in their pensions, thus failing to be able to fulfill the obligations they had in the meantime. This is another reason why retired people can resort to credit.


Is There A Personal Credit For Retired People?

This is a very pertinent question: is there a credit for retirees? A specific credit for people of a higher age?

The answer is no. In the financial fabric, we can not find any specific personal credit for pensioners, something that is even relatively common out there.

In view of the absence of specific credit products suited to their financial situation and needs, retired people are likely to have recourse to products of general scope. However retirees are likely to see their processes approved as they have a fixed income from the state.


Cares That Retirees Should Have Before Hiring A Loan

Like the rest of the population, pensioners are not immune to over-indebtedness and therefore should only advance to a claim after carefully studying their current financial situation and all data associated with the loan.

Hiring a personal loan is a decision that must be carefully weighed and evaluated.