Looking at the number of large credit issuers in Latvia, we can conclude that borrowing SMS loans with bad credit history is not at all impossible. SMS credit facilities are offered only by a few companies, but their total number is large enough to be able to contact another lender in case of problems.
There are 14 such companies in Latvia at the moment. Some of them are members of LNKA, so there is no doubt about the reliability of the loan and the reputation of the company. After registering and completing the credit application, the companies offer the credit to be sent by sending a text message with a specific text to the specified number, and the money is transferred to the account within a few minutes. How do people get to bad credit history? In order not to get into this status, you must always carefully assess your ability to repay it before borrowing money. However, if this happens, you have to face various obstacles.
Usually bad credit history is for people who have delayed their credit payments and arrived in debt so far that the credit issuer needs the help of debt collectors. Regardless of whether these debts are settled, the consumer is included in the so-called ” black list “, or the information on the debts will be visible to all lenders using the Latvian credit register database. Lending to a person who has had a problem with paying it in advance is very risky on the part of the lender. Only very convincing arguments and evidence of a sound financial position can help to achieve the goal.
In order to draw up a credit with a bad credit history, you need to apply for it on one of the creditor pages and send a text message with a request. If a negative response is received, credit history is unlikely to satisfy the company’s requirements. However, there may be companies that are willing to lend money, paying more attention to the customer. In such cases, a statement from the workplace, a statement from the SSIA about your social status, a statement from the SRS and a recent bank account statement may be required to verify your financial stability. Even after submitting documents, a credit request may be rejected. This does not mean that it is not possible to do so because the conditions in each credit institution are different. If you can’t get a loan from one creditor, you can do it at another.
The key is to be communicative with the credit provider, to cooperate and to be able to convince you of your financial needs. If, however, a loan without collateral fails, but there is a great need for a quick loan, you can turn to the lenders who issue loans against the collateral. Thus, at least the credit company will have a reduced risk of the customer not being able to repay the loan.