Execution is one of the most unpleasant life situations, but more and more people are unfortunately getting into it. The execution procedure itself can be carried out in various ways, in particular the execution to the bank account is frequent, when the bailiff seizes all the money from your account and you can choose only an unrecoverable amount, which is twice the subsistence minimum (ie 6,820 CZK in 2016). Another option is execution for salary, respectively. for retirement, when a certain amount of payout or retirement is automatically deducted each month and the worst and most feared is the execution of property that is executed by bailiffs directly where the debtor lives. Of course, there are many problems and complications associated with execution, one of which is the difficult search for a loan. What credit companies can you get a loan with execution and where you do not have a chance to get a loan?
What types of loans can be obtained with execution?
Generally speaking, these are exclusively loans from the non-banking sector. Banking institutions have much higher demands and do not provide loans to people affected by distraint. All we have to do is turn to one of the non-bank companies where the conditions are milder, and the distraint may not be a problem for smaller amounts. Let’s take a look at specific examples:
Fast SMS Loans to Payouts
If you only need a small amount, getting a loan shouldn’t be such a big deal with neck execution. Fast non-bank loans to payouts (often referred to as micro loans or SMS loans) generally have very simple and uncomplicated conditions, can be easily arranged over the Internet, and can often be obtained by people with or without any provable receipts. The common feature of these loans is a very short maturity (usually about 30 days) and only a low credit line. On the other hand, some loans from this category can be obtained free of charge, without interest and fees.
Higher cash non-bank loans
Another category of loans that can be obtained even when you have execution is some non-bank loans paid out in cash on hand. Typical examples are Provident Financial’s well-known loans, which your sales representative will bring you home and then regularly withdraws from you. But there are more similar companies, Smart Loan, where you can borrow up to 70,000 CZK for 16 months and some others. Execution here does not matter, but what is necessary is proof of income – to get the money, you must have documents from the employer, which will show how much your monthly payout is.
Non-bank loans secured by real estate
If you are not even able to borrow more than 100,000 CZK and you need to borrow even higher amounts, then there is probably only one option left – a real estate loan. There are a number of non-bank companies offering it, perhaps the most famous is Acema Credit. The advantage is that you do not have to prove your income, you do not mind the records in the debtor’s register or the execution, in some cases even a third person can guarantee property for you.
Bill Loans – Risk of Fraud
Someone can be tempted by adverts offering bills of exchange. At first glance, such an offer may look interesting, it is a great risk to borrow from private individuals or unknown companies. There is still a lot of fraudulent loans and, unfortunately, the number of people who have been duped is increasing. If you do not want to fly, definitely never pay any fees in advance or call any phone numbers for the loan – everything can always be handled over the internet or in person. There are more ways to get a loan with execution, such as internet loan graders.