A loan in Poland and work abroad - is it possible? What conditions must be met to get a loan in Poland? Where will people working abroad find loan offers? Private loans for people working abroad - is it worth it? Social loan for working abroad - how to get it? Loan for working abroad - pros and cons
The number of Poles who decided to emigrate for work is still high - the Central Statistical Office reports that at the end of 2017 over 2.5 million compatriots worked abroad, and according to some estimates, even a quarter of citizens are considering leaving the country.
Growing consumer needs and high creditworthiness cause that many emigrants are considering taking a loan or a loan.
A loan in Poland and work abroad - is it possible?
A non-bank loan is often the only way for people working abroad to get extra cash, e.g. for car repairs, sudden renovations or other consumer needs.
Poles earning in foreign currency - pounds, euros or dollars - practically cannot count on receiving a loan from a bank, because according to Recommendation S of the Polish Financial Supervision Authority, the liability should be incurred in the currency in which the client earns income.
Few Polish banks offer foreign currency consumer loans. On the other hand, Poles working outside the country have a problem with getting a loan from a foreign bank. These institutions usually require documentation of foreign credit history, which effectively limits the chances of receiving additional funds.
In this situation, the best solution is a loan for working abroad. What requirements do loan companies place on their clients?
What conditions must be met to get a loan in Poland?
A loan in Poland for working abroad is a financial product that allows you to obtain funds without unnecessary formalities. Customers do not need to provide employment and income statements from the employer - most companies in the non-banking sector offer loans for income statements.
Although each entity has its own list of customer requirements, common criteria can be identified. Belong to them:
- age over 18 years,
- check-in in Poland,
- active bank account in a Polish bank,
- phone number registered in Poland.
Overdue invoices, unpaid fines, past loan delays - all this can cause the loan company to reject the application. Non-bank companies also verify the data of the Credit Information Bureau. However, it is worth remembering that each company applies its own criteria and approaches customers' credit history differently.
Some entities accept the applications of persons appearing in the database of debtors - they simply require additional security from them. Do you want to enlist a loan in Poland? working abroad will not be an obstacle, but remember that you will also need to make a return verification transfer to confirm your identity.
The verification transfer usually amounts to symbolic amounts. The transfer must be made from a Polish bank account registered in the name of the client - the person submitting the loan application. If you do not have a Polish bank account - the loan company will issue a negative decision.
Where will people working abroad find loan offers?
Economic emigrants can count on the offers of companies from the non-banking sector, but also take advantage of private or community loans. It is best to search for offers on the Internet - you can use online payday rankings that compare individual proposals in terms of interest rate, additional margins, commissions, insurance, as well as APRC (actual annual interest rate).
Thanks to the tools available online, we can check which non-bank company offers the highest amounts or check the loan period and other loan parameters.
Private loans for people working abroad - is it worth it?
Can I get a distance loan when working abroad? It all depends on the type of offer. Currently, most loan companies do not require a physical presence in the country when applying for additional cash. Sometimes, however, the lender sends the client documents to sign at the registered address.
Therefore, people working abroad may not meet the requirements of companies from the non-banking sector. In this situation, you can use another solution - decide on the commission offered by private individuals.
Are private loans secure? Solutions of this type are associated with a high risk - there are cases of fraud, e.g. the imposition of horrendous interest, the use of unlawful loan collateral or phishing preparation fees.
However, many people are tempted, mainly due to the fact that private loans do not check the credit history and bases of debtors. Have you decided to borrow money from a stranger? Remember that the lender should provide you with his personal data - name and surname, PESEL number, address.
If the lender is a natural person who conducts business activity, you can check his credibility in CEiDG (Central Register and Information on Economic Activity). You can also borrow money from a family member - a loan from your loved ones is exempt from PCC.
Loan for working abroad - pros and cons
Loans offered by non-bank companies allow you to quickly get a cash injection, guarantee minimum formalities and the ability to submit applications online. This is an incredibly convenient solution that avoids standing in queues and wasting time. Most companies also do not require earnings certificates.
Unfortunately, non-bank companies often impose high additional fees, e.g. they use obligatory loan insurance. When deciding on a loan for working abroad, it is worth checking all the parameters of the offer carefully - this will avoid disappointment.