Fast credit – the quick way to problems?

Fast loans, also known as SMS credits, are short-term loans that are issued without a guarantee in exchange for personal data. Because they involve increased risk for lenders, quick loans are usually granted not by banks (although some banks offer an overdraft – a similar service) but by private lenders. More information at

In Latvia, fast loans have a bad reputation. Already, the unfavorable view of fast lenders is made even more grotesque by traveling stories about debt collectors who scare off debtor children and wives and ultimately force the unfortunate borrower to disconnect the phone because no night goes by without a debt collector.

However, let’s look at fast credit a little more rationally – what would be the problems most common to fast credit borrowers?

  • Inability to repay debt.
  • Foreclosure forces the borrower to take out another loan.
  • Debt collectors ruin life.

It is clear that one reason for not being able to repay the debt is one: poor budget planning. But let’s not forget that the bailiff is not alone, ie it is not just borrowers who are at fault.

There are, of course, cases where fast credits may be needed, but such failures should, on average, be counted on the fingers of a person, not as we often do in a notepad, and perhaps not even one. Remember to borrow fast credit on the internet at favorable terms to extinguish other quick loans – This is a complete miss because it will cause even more problems with your money repayment.

What are quick loans for?

quick loans

This is a very good solution if you are experiencing temporary financial problems. If you have been living without money for a long time and you do not know when your money problems will end, then fast loans are not for you. If you borrow responsibly, fast loans are right for you. Choose a lender that offers you an extended repayment term as it can also be a great help to avoid damaging your relationship with the lender and getting blacklisted for quick credit, bank credit, leasing, and the like.

Good credit

Good credit

The first loan free of charge or a loan that allows you to pay back less than you borrowed – a very, very good credit on very good terms. The first borrowings are repaid as much as you can (no interest, no pledge, no guarantee, no explanation). It should also be noted that the first loan free of charge does not mean that the money will not have to be repaid. This means that you will have to repay the same amount you borrowed. You also need to borrow your first loan free of charge to avoid problems with your money back.