What do we mean by urgent financial help?
A few years ago, the only means of financing we could turn to were conventional banks. However, as a result of the Spanish economic crisis of 2007, different companies and private equity lenders that offered high-speed loans arose, with a fully online application process and with much more flexible concession requirements than those established by the banking.
Therefore, when we talk about the concept of urgent financial aid, we refer to the different types of loans and loans that we can request in the current financial market that allow us to obtain immediate liquidity and without having to meet arduous requirements. In addition, they are generally managed and marketed by private equity companies.
However, before the great popularization of these private companies, banks have also included products in their catalogs with which we can get urgent financial help, although they probably require us to be clients with a certain age and also that we comply with stricter requirements.
Credits to get financial help instantly
As we have already mentioned, there are a lot of loans in the current market that are fast, are requested online and are much more flexible, in terms of the conditions they demand than banking. Having said that, we will catalog these products into two different groups:
Mini urgent credits online: these are loans with which we can get small amounts of money in a few minutes, generally and if all goes well in 15 at most. The main advantages of these products are the speed at which we can request and, above all, receive the money in our account, the convenience of being able to perform the entire online application process and the great flexibility offered by these lenders when establishing the conditions and requirements of the products. On the other hand, it should be noted that these products offer us several services to increase the comfort in terms of the return of capital. That said, they will allow us to use the early repayment service that will generally be free and will help us to save the interest that would be generated in the next few days. On the other hand, we must take into account the extension, because thanks to this service, we can extend the term of return of outstanding capital and although we pay more interest, we avoid falling into default.
Quick Credits: this type of credit products are very similar to the previous ones, but they have some notable differences. On the one hand, they offer higher amounts, up to approximately 5,000 euros, and on the other hand, the repayment periods are also longer, since we can repay the capital up to two years. In addition to this, it is important to know that the cost of these products is less than that of the quick mini-credits, although it is higher than personal loans.
When choosing a product or another to get urgent financial help, it is essential that we are clear about our economic situation and what we want to allocate the capital for. In this way, we will know which product is best for us and we can face it safely.
Aspects to assess before requesting urgent credits
First, this type of credit was not created as a usual funding source, so it is not advisable to request it as such. In fact, its main purpose is to help us obtain extra liquidity at specific moments, so it is preferable that we use them for it. To understand the reason for this, we can see that its price is higher than any other market loan and that its repayment period is also smaller.
In the second place, hiring a loan always means acquiring a debt, so if we are not totally sure of being able to face it and fulfill all the conditions established in the contract, it will be better not to ask for it and look for another alternative. Otherwise, we can fall into a situation of over-indebtedness, from which it will be very difficult for us to leave.
Can I get urgent financial help at ASNEF?
In the past, it was very difficult to get financing if we were registered in a file of defaults, but this has changed radically. Thanks to the private equity lenders, it is currently possible to get financial aid even if we list the defaults as ASNEF.
Thus, in the current financial market, we have several options with which we will lend up to 5,000 euros in a matter of hours, even if we appear in a file of defaults. Of course, we must take into account that to grant us the capital, the default cannot be higher than the limit established by the lender or be related to any bank.