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Questions and answers about loans

From the first application to the last installment. Find the answer you need.

Database of questions and answers

How to repay an online loan?

The loan should be repaid from the same bank account to which the loan was transferred. Of course, you will receive all information regarding the terms and course of loan repayment via e-mail after your loan application has been granted. In the message from the lender you will find information mainly about:

  • lender's details
  • the lender's bank account number to which the funds are to be transferred
  • the amount to be refunded
  • customer number

 

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In addition to the above information, lenders also inform by e-mail about the conditions for extending the loan repayment, as well as the consequences of failure to repay the loan within a specified period. Information about the transfer title that must be entered in order to correctly repay the loan to the lender's bank account will also be sent by e-mail. The transfer should be made via an online account or at a bank branch. The decision is up to the applicant. There is no obligation to inform the lender about the transfer. After repaying the loan, the lender will send you an e-mail with information about the loan repayment. After this time, the borrower can apply for another loan. Many companies use a simplified procedure for granting loans to customers who have already used the company's services. Then you don't have to wait long for your personal data to be verified, and the loan decision itself takes even less time.

What to do if you cannot repay the loan on time?

Various random events occur in human life, which may cause problems with repaying financial liabilities. If this occurs, you should contact the company that granted you the loan as soon as possible. We would like to remind you that information on what to do in the event of problems with repayment of the loan you receive by e-mail from the lender, along with other information about the loan. The vast majority of companies offer the service the option of extending the loan repayment, which can be done from the customer panel, and the loan repayment period is extended automatically. The customer only needs to specify the date for extending the loan repayment. Most lenders allow you to extend the loan repayment period by 7, 14 or 30 days. The specified extension amount should then be transferred to the lender's account. This amount depends on the loan amount and repayment date, individual for each borrower. All information is available in the customer panel and in the email received from the lender when the application is positively considered. The process of extending the repayment deadline takes up to several minutes. If the client has a bank account in the same bank as the lender, if he or she has one in another bank, then the process takes a maximum of one business day. Of course, after the procedure is completed, the lender sends the client an e-mail with information about the acceptance of the extension application.

 

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IMPORTANT! There are several lenders on the market who do not offer the option of extending the loan repayment period. Therefore, it is important to check whether the lender has such a service before submitting a loan application. It is always clearly and clearly visible. However, if the lender does not allow you to extend the repayment deadline and such a need arises, you should contact the lender. Most often, through negotiations, the lender allows the loan repayment period to be extended without any problems by way of an agreement.

Does early repayment of the loan allow you to recover some of the costs?

You can repay your consumer loan earlier. Its total cost is subject to an appropriate reduction for the shortened period, also with respect to upfront costs. Ask for a settlement and check the refund of part of the commission and other fees. In the event of full early repayment, the lender has 14 days to settle the loan. In legally defined cases, he may be entitled to a commission for early repayment.

What should I check if I am late with one installment?

Check the contract, schedule and actual date of payment. Contact your lender to determine the amount of arrears and available solutions. The delay may result in interest, debt collection activities and - if appropriate conditions are met - transfer of information to databases. Don't assume that a small arrears don't require action.

How is refinancing different from extending the repayment date?

An extension changes the term of an existing obligation, while refinancing usually means new financing to pay off the previous one. Each solution may generate costs and requires checking the contract. Compare the total amount to be paid after the change, the new date and the possibility of repayment from your own funds. Another loan does not solve the debt problem.

How to confirm that the loan has been fully repaid?

After posting the last payment, check the balance in the customer panel and ask for confirmation of closing the obligation. Keep the history of transfers, settlements and correspondence. Make sure there is no outstanding interest or costs and whether the overpayment is refundable. The transfer order itself does not confirm its posting.

What is the consolidation of several liabilities?

Consolidation combines the repayment of several debts into one new obligation. It may organize your deadlines, but it doesn't automatically mean lower costs. Combine the existing remaining repayment amount with the full cost of the new contract, including its commission and period. Check who will actually repay previous liabilities and ensure that they are closed.

What should I do if I have transferred more than the required installment?

Check how the lender recorded the surplus: as an overpayment of capital, funds for future installments or an amount to be refunded. The method of settlement may depend on the contract and your instructions. Ask for your current balance and schedule. Do not skip the next installment without confirming that the on-time payment has been properly cleared.