t is very important for us to plan our finances, in order to keep a check on our expenses. However, is not always possible for us to foresee unexpected expenses, which fall outside our planning.
Instances like sudden illness of someone in the family can put us in a difficult cash crunch. You cannot put aside such expenses until your next payday. That is exactly where the Väikelaenud or small loans can help you in tiding over temporary financial situations.
You should collect all your financial documents and keep it all in one place. Any kind of loan requires documentation, so having it handy will make applying for a loan hassle free. You can have the following in your documents folder
- Tax returns
- Utility bill payment records
- Credit card payment records
- Any other personal loan records
- Payment documents of any other loans which you are still repaying.
Keeping track of your credit
You should know the status of your credit report. You can ask for a duplicate copy of your credit report and get any inaccuracy that affects your credit adversely corrected. You can do so by pursuing the matter on your own or for best results, you can hire a professional to help you out.
Although good credit score is not a necessity for availing a small loan, but having a good credit history help in lowering the interest rates. If you have a bad credit, you can approach an online credit company for a loan without any credit check. Taking out a small loan for bad credits and repaying it on time reflects on your credit report and improves your credit worthiness.
Get all your pay slips to show a source of income. You should at least keep them for a period of six weeks or more. Also get keep all the documents such as Government perks and any other type of income from your business to be shown as income. Having these documents facilitates a speedy process while applying for a loan.
Having all the above mentioned documents will help you in getting a fast track cash loan approval. The various agencies that deal with small loans are
- Banks/ personal loan lenders – the rate of interest depends on your credit report. The better the credit the lower the interest rates, in the case of bad credits the interest rate you will receive will be higher but you can still get a small loan.
- Payday lenders – these lenders provide you with a short term loan. A paycheck is a prerequisite for a loan from these lenders. You can find a legitimate lender near you online.
Apart from taking a loan from above mentioned lenders, you can also avail the credit card cash advance to meet your immediate need of money. The only prerequisite is having a credit card with its limit intact. You can apply online or through a mobile application from reputed company BestCredit when you need small finances. Their loan processing is faster and user-friendly, since they deal online.
John Brookner has written this Guest Post. BestCredit is one of the prestigious lenders with a bouquet of loan products. Their loan processing is fast since they offer online application forms as well as have their own mobile app for borrowers. They are the best providers of small loans or Väikelaenud to those having bad credit.