New online payday loan direct lenders -Cash through a direct payday loan online

Request your cash through a direct payday loan online 

A direct payday loan online is a loan that is given very quickly and apparently unbureaucratically, just go to https://bridgepayday.com/ and try for free. Direct payday loans online are mainly used by borrowers who need a very quick credit decision. This, for example, due to a financial emergency situation.

Direct loans can be requested from both house banks and online lenders. The processing time of the loan application and the disbursement of the loan amount together do not take longer than 24 hours in most cases.

Requirements for receiving a direct loan

Requirements for receiving a direct loan

In principle, anyone over the age of 18 with permanent residence in Germany and a German bank account can receive a direct credit. The lenders also have individual requirements for direct credit. For example, most lenders require proof of income, for example, assuming that the potential borrower has been in permanent employment for at least three or six months.

How can a reputable lender be recognized?

How can a reputable lender be recognized?

With the large number of inpatient banks and online lenders, it is not easy for many interested borrowers to keep track of and assess which provider is legitimate and which is dubious. Unfortunately, there are many “black sheep” in the credit industry who work dubious and unprofessional.

A reputable lender is always aware that this potential customer is not pushing for a hasty contract. Customers should always have enough time to thoroughly consider the conclusion of the contract and to weigh the pros and cons. Many dubious credit providers also visit their potential credit customers unannounced at home. Again, this is usually only the purpose of building pressure and the potential borrower to move quickly.

From application to approval

From application to approval

In a first step, the potential borrower contacts the loan company and shows their interest in the direct loan. If the credit should be taken at the house bank, so a consultation can be arranged directly in which everything can be discussed personally. If the direct loan is to be taken up by an online provider, potential credit customers can fill in a form online. In this form the required loan amount, the desired duration of the repayment and some personal data must be entered.

After a successful first check of the credit provider, the latter contacts the possible borrower and informs about the further steps of the award procedure. In most cases, interested borrowers are asked to review their individual loan offer and, if acceptable to the borrower, accept the offer by returning the signed loan agreement to the loan provider.

A comparison is worthwhile

Before concluding a direct credit contract, it is always worth comparing as many loan offers as possible. This is especially because there are some dubious providers on the market who can be “exposed” in this way. Also, the exact terms of the contract from provider to provider can vary greatly. This mostly in terms of interest rates and possible additional fees.

Interested borrowers can either use online comparison portals for a credit comparison, or contact as many lenders as possible and obtain credit from them. Of course, the house bank can be asked for a direct loan. However, the offers of the house bank are not always the cheapest options.

Calculation example for a direct loan

Calculation example for a direct loan

Most credit providers award direct loans to the amount between 2,500.00 Euro to 50,000.00 Euro. Should our exemplary lending customer opt for a loan amounting to 40,000.00 euros, this must count on a fixed borrowing rate of 2.20% to 4.95% per year.

The term of a direct loan is usually between 24 and 84 months. With a fairly high loan amount of € 40,000.00, a relatively long term is usually agreed. In our example, borrowers and lenders agree on a maturity of 50 months.

Low-interest offers for employees and civil servants

Employees and civil servants working in the public sector usually receive particularly favorable offers for direct credit. Even interested borrowers who have an above-average monthly income can usually benefit from very attractive direct credit offers with particularly long maturities.

Direct loans from private individuals

Recently, more and more offers for direct loans can be found on the Internet, in which the direct credit is granted by a private person. The credit provider thus only assumes the role of an intermediary.

Even though it is a private loan, interested borrowers should also be aware of the direct credit of private individuals that the intermediary is reputable and offers good contract terms. The loan request should always be free and without obligation.

The role of Credit bureau in awarding a direct loan

The role of Credit bureau in awarding a direct loan

As is the case with all other types of credit, potential lenders are usually convinced by the creditworthiness of their potential credit customers before the loan is granted, even in the context of a direct loan. For this, most lenders use the largest credit agency in Germany, namely the Credit bureau.

The Credit bureau works with a scoring system and has deposited data on more than 65 million German citizens. The score is composed of the ability to pay and willingness to pay in the past. Factors such as age and place of residence also play a key role at Credit bureau, as these influence future forecasts of solvency in the future. Around 270,000 inquiries are received every day at the Credit bureau.

Most lending companies and telecom companies check their customers’ creditworthiness with these requests. A bad Credit bureau score usually leads to a loan agreement being rejected.