My WordPress Blog

Urgent Loans – Beware of Fast Cash


There has been a lot of urgent loans available on the internet, taking advantage of the needs and urgencies of Portuguese families. In this article we will alert you to the cost and risks of these loans by showing you alternatives to solving some of your financial problems. has details


Why Do You Need Urgent Loans?


Before you start you should ask yourself the reason why you need urgent money . Has there been an emergency and do you have family or friends who can help you? Would you like to make a purchase and do not have the money available? Or do you want money to pay off other debts?

If your need is to have money to pay other debts to banks, know that there are solutions at your disposal, such as renegotiation of credits, which allows you to not only lower your installments but also ensure that you can make your payments.

If your need is to make consumption think ten times before doing so using urgent loans. You will see that it does not pay off and that the risks are too great.


What Is an Urgent Loan?

What Is an Urgent Loan?

Those who lend money in an emergency situation are taking advantage of their fragile situation. In these situations it is not customary to make many accounts and you end up taking every opportunity to get the money you desperately need. Thus, the interest you are charged is several times higher than the maximum allowed by law. Exorbitant interest rates that compare very poorly with cheaper personal credit alternatives.


An Example Helps Clarify

An Example Helps Clarify

Imagine that you need an urgent loan of € 1,000 and that offers you the delivery of 12 pre-dated checks of € 150. In this case, you will pay € 1,800 (12 * € 150) in one year … the equivalent of an annual interest rate of over 80%!

And imagine now that you can not pay … being pre-dated checks of less than € 150 the bank is required to debit your account for this amount. If you do not have money available in your account, the account is negative, with the consequent costs, commissions, penalties and hassles associated with it.


What Are the Alternatives to Urgent Loans?


We have discussed above the credit negotiation situation in the event that you want to request urgent money to pay a bank or financial institution. Algernon’s negotiation has been able to reduce the average benefits of our clients, even though it is on the blacklist of the Bank of Portugal, by more than 30% which helps ensure that the family can handle all of its bank charges.

If you need money for other expenses and if you have no other choice, you should seek solutions from traditional banks (preferably from your bank that already knows you) or credit financial institutions. Never forget that these credit institutions are regulated and act according to rules you know. Sometimes your credit card can make your life easier without jeopardizing your family’s financial security.


Leave a Reply

Your email address will not be published.