Usually, we insist a lot on the importance of correctly managing your personal finances to avoid last minute surprises or unforeseen events. In that sense, knowing how to save is as important as knowing how to spend, and we should not be afraid to ask for a loan or loan at any given time, whether we need to urgently address an expense or if we want to treat ourselves and at that moment we do not have the necessary liquidity.
Thus, there are many in which requesting a quick credit can be a great option. For example, if there are tickets for a concert by our favorite group and, although we know that they will soon run out, at that time we do not have the necessary money. Another option may be when the ideal offer appears for a trip that we want to make, but we do not have the liquidity that is needed.
However, there are other situations in which it is not advisable to ask for a credit. For this reason, today we want to review with you all those moments when requesting a loan may not be the best option. Do you want to start?
I need quick money !: When it’s a hasty decision
Before applying for a loan, it is recommended that we be aware of our financial situation and evaluate whether we will be able to face the debt in comfort. Many times, we jump for something without being sure if it is a good idea. In this way, it may be that we need money so urgently that we do not stop to think if we are going to be able to return it, and that is never recommended.
For this reason, opting for companies that practice responsible loans assures us that they will only grant us credit if our financial situation is going to allow us to face the repayment of it with comfort, thus preventing us from rushing into the decision.
eye! Not rushing does not mean that we cannot request a quick credit when we need money with some urgency. It is enough to have previously evaluated our financial situation and stop for a couple of minutes to reflect on whether it is the best alternative. And, as we said before, when we go to a company that practices responsible lending, we will have much more security on this point.
When I don’t meet some of the requirements to apply for a loan
When requesting money, we find that banks impose very demanding requirements, and many times it will be impossible for us to offer financing. However, nowadays, with the arrival of online lending, the conditions are much more accessible, so we will only have to identify ourselves, prove regular monthly income and demonstrate that we can return the money.
Of course, at some point, we may not meet some of those conditions. In that case, it is not advisable to go to companies that offer money even without those requirements, since the first thing that we must be clear is that those requirements are in place to protect us: if we do not have monthly income or we cannot return the money, ask for a loan it would only cause us problems.
A similar case is the one that happens with the lists of defaulters, like ASNEF. Some companies offer loans to people who are in delinquent listings, but applying for a loan when we are in one of those listings is not a good idea, as it will only make our situation worse.
Therefore, if we do not have monthly income and we are not going to be able to return the money, we should never request a credit. Companies like Astro Credits have quite affordable requirements and, if we meet them, we will be able to obtain financing and, at the same time, be sure that we will be able to return the money, thanks to its philosophy of responsible lending.
When I don’t know if I can afford the refund that implies the application of a loan
As we said before, if we are not going to be able to repay a loan, then it is better not to request it, since that will only cause our debt to increase without stopping. It is true that there are companies, such as Astro Credits , that set a maximum limit for debt to increase, but even so, it is not a good idea to ask for a loan that we will not be able to repay.
Thus, if before requesting it, we study our financial situation and we have doubts, it is better not to ask for credit or go to companies that offer us loans that adapt to our conditions.
A different case is the one that occurs when, after requesting a loan, we face an especially difficult month, in which it will cost us to return the part of the credit that corresponds. For these situations, at Astro Credits we have the ‘breather month’, which allows you to delay the payment of one of the monthly installments, thus giving you greater flexibility and control over your line of credit.
When I want to apply for a loan and I already have many debts
Sometimes we have several accumulated debts and, even so, we consider asking for another credit. In the vast majority of situations, this is not a good idea, as that will only make the situation worse, adding one more debt that we will have to pay back.
This point, however, has an exception. Sometimes, it can happen that we can ask for a loan and, with that money, cancel the rest of the debts so that, in this way, we are left with only one debt (that of the credit that we have just requested). If these circumstances occur, applying for a loan to pay off those other debts can be a good alternative, although it will always depend on the flexibility of the other loan and the amount that we will be paying back. For this, it is best to analyze our situation and our solvency to assess whether it will be more comfortable for us to refinance our other loans or whether, on the contrary, it is better not to ask for a new loan.