Private loans attract an easy and extremely fast opportunity to get financial resources. They can be obtained on the basis of a receipt – without the need to complete a variety of formalities. Today we will try to understand what is the essence of processing loans against a receipt, and whether they can become a reliable source of financing current expenses.
What you need to know about loans for a receipt?
What is a promissory note?
In Russia, for a long time, loans for receipt are known. The first legal rules regarding receipts were introduced in the seventeenth century. Such a document is one of the main evidence of the transfer of money for use from one individual to another and is equal to the loan agreement.
The debt receipt is drawn up by the borrower in print or written by hand. It should include the following information:
- passport details of loan participants,
- amount of money held
- additional conditions, if any,
- date of repayment.
Such a document can be notarized or signed by witnesses, but this is not a prerequisite.
Despite the lack of visible guarantees in payment, the debt receipt is an official document and can be used in court in a case of evasion of debt repayment. Also, a loan against a receipt carries the same legal consequences and after the death of the borrower, the debt is inherited by a close relative.
How to take a loan from a private person on receipt?
The popularity of borrowing money from private investors, both small amounts of several thousand rubles and large amounts of several tens and hundreds of thousands of rubles, is increasing every year. On the Internet you can find a large number of ads of this kind. And this is not strange, because even those citizens who for some reason were denied a loan from microfinance organizations, banks or other non-profit organizations can receive money. These include the unemployed, students or teenagers, because it is not legally possible to get a loan to a minor citizen in any financial institution, and in the case of students and the unemployed, the lack of stable incomes and low solvency is always a negative factor in credit assessment.
A loan with a bad credit history or even for the first time, that is, with a zero credit history, is even possible upon receipt. That is why a loan from a private person is one of the easiest ways to instantly get money. This option has no restrictions on the amount owed, it only depends on the lender how much he is willing to lend you.
One of the biggest advantages of a loan against a receipt is that the borrower is exempt from the need to pass scoring, he does not need to provide documents confirming creditworthiness, and the lender does not make a request for credit history.
Private loan against receipt – where to look?
Private investors often advertise their services on credit forums and various financial sites. Before contacting an unknown lender, it is worthwhile to find as much information about him as possible, try to track down past borrowers and get feedback on him. In no case do not agree to pre-pay additional and registration fees, as well as other payments:
– courier services, – postal service – notary or payment transaction – in most cases, fraudsters act in this way, trying to extract money from you.
A good way to safely find a private lender is to participate in P2P lending. This type of financial product is not yet controlled by the state regulator, but some of the interests will be protected not directly by the platform itself, which allows the borrower to communicate with the lender.
Loan against a receipt or a regular loan in the MFI – what to choose?
Given the specific nature of this document, a loan against a receipt can sometimes be very risky for both the borrower and the lender. It will be safer to get a standard loan in one of the legal microfinance organizations. Many IFC and ICC issue both short-term loans and loans for a long enough period. You can receive money on an electronic wallet, in cash or on an MFI plastic card.
Just as in the case of private loans, microfinance organizations make it possible to get loans online without unnecessary formalities with only a passport. The only factor influencing the decision of an MFI is the client’s monthly income, which may not be related to the availability of official work. Different types of social benefits are taken into account:
- old age pension
- disability benefits
- child support,
- scholarships, etc.
The state, with the help of the Central Bank of Russia, regulates the activities of microfinance organizations. Due to this, the borrower can choose a reliable company. In contrast, there is no regulated instrument to control private lenders, and it is much more difficult to verify their reliability. With any violations by microfinance organizations, the state will be able to protect the offended borrower, and with private loans, justice can be established only with the help of the court.
Observe safety measures.
When you make a private loan against a receipt, always remember the simple rules of the borrower, and in particular the need to check the accuracy of all the data entered in the receipt. It is especially important to check the record of the amount of money borrowed, it is better to write the amount in parentheses in brackets to avoid further falsification, and also to check the consistency of the amount of interest previously agreed with the lender.
In the absence of such records, the lender will be able to enter an arbitrary amount of money without your knowledge. Thus, a loan of several thousand rubles can grow to several tens or hundreds of thousands of rubles.
From time to time the stories of people who were deceived in this way appear in the mass media. Always remember that there is no legal basis, under the pretext of which you could be asked to leave the column with the amount of money occupied empty.
Also, it is worth recalling that private loans are usually not insured against force majeure and inability to repay the debt on time. This can be a serious disadvantage. No one knows when it will be necessary to take out loan insurance, but this can save you from falling into a debt trap because of a job loss or poor health, for example.
|Security measures for obtaining a private loan:
|1. Avoid small rates (interest rates are too low compared to market rates). Usually such conditions are offered by fraudsters and scammers to create traps.
|2. Try to enter as many conditions as possible into the loan agreement in order to protect yourself in case of force majeure.
|3. Do not trust lenders who offer remote working methods: it is better to meet in person to discuss the details and sign the contract.
|4. Private loans that are issued through a bank may simply be an intermediary service.
|5. Do not make prepayments: even a copy of the passport sent from the lender will not return the lost money when it detects fraud.
|6. Verify the contract with a notary. When a private loan for a large amount is better to use the services of a notary to draw up the correct document.