Having a payment note can be a difficult obstacle when you want to take out a private loan. The note is proof that you have failed to repay a debt. Thus, you are classified as less creditworthy. Unfortunately, the note hangs for three years and can set it up for you if you want to take out a loan. But there are lenders who are ready to approve your loan application even though you have payment notes. Here you find out who they are, where they are and how to apply for a loan from them.
Payment notes short
One can get a payment note if you forgot to pay a bill or simply have been neglected with the repayment of a debt. First, the unpaid bill ends up with a debt collection company. If the debt collection company does not succeed in recovering the debt, the case goes on to the Danish Kronofogden. A note is registered and it will remain for three years, both at the Royal Court and the credit information companies.
It is actually possible to subscribe for SMS loans or private loans even if you are drawn with a payment note. In fact, some credit institutions and banks specialize in loans with a payment note. However, you have a small number of players to choose from and the conditions are not as good as with a regular private loan. The lender takes out a risk premium that affects the total cost of your loan.
SVEA Finance grants loans with a payment note as long as you have a fixed income. A credit check is made in connection with the application where the customer’s current ability to pay is examined.
To get a loan, you must be at least 20 years old and have an income of at least SEK 120,000. Amounts over 100,000 require you to have a co-applicant for the loan. Co-applicants must in turn have a fixed annual income of at least SEK 90,000.
SVEA applies individual interest rate setting according to the results of your credit assessment. The effective interest rate is 20.87 – 23.28%, which is just over four times as much as a regular private loan. So this is really expensive loans that apply. A starting fee of SEK 795 is also taken out by the bank at the first payment.
AVIDA Finans offers somewhat cheaper loans for customers with a payment note through Avida Kredit. The effective interest rate is 16.93% at the minimum loan amount of SEK 100,000. The ceiling for their effective interest rate is 23%. Comparing this with their usual private loans with a lowest interest rate of 3.90% and a maximum interest rate of 19.95%, it is not so difficult to understand how much more expensive it will be to charge a loan with a payment note.
With Avida Kredit you get a maximum of SEK 150,000. The repayment period is between 1 and 15 years. SEK 250 is taken out in the starting fee, as well as an annual fee of SEK 300 and a notification fee of SEK 10.
Even though Avida Finans grants loans with a payment note, the requirement is that you are debt-free with the National Insurance Agency. Individual interest rates apply. A credit report at UC is made in connection with your application. You also have the opportunity to subscribe for a credit protection which during the first three months is completely free of charge.