Many people wonder how to pay off debts without falling into a spiral of debt. Of course, it is not easy to pay off a large liability in the short term without borrowing more money. However, you can consider another option, which is dividing payday pay into installments.
It is now easy and quick to get a loan online, but you must pay back every commitment on time. Otherwise, you have to take into account many consequences. When there are too many, there is a problem with repayment.
Application for payment in installments – what does it look like in practice?
We do not know the day or the hour when we may find ourselves in a bar situation with many loans to pay back. If we know that we will not be able to pay the debt on time, do not hesitate, but submit an application for payment of the payday loan in installments as soon as possible.
In this way, you can protect yourself from much larger problems, and not just financial ones. Many parabanks allow customers to extend the payday pay, usually for an additional fee. It is very easy to fall into the debt loop if you take out more loans to pay back the previous ones.
Just write a request to divide the payday payday installments, with true and factual justification. It is worth to attach to the application a document confirming the unfavorable financial situation that prevents timely repayment of the liability.
How can you pay off debts? Breaking the payday loan into installments
If the client is willing to pay the debt, but for some reason is unable to do so in a timely manner, most lenders agree to pay the installment payday. It is important to have any funds to settle the commitment to ensure the lender has repaid the remainder of the debt.
The application for payment in installments should include: place and date of submission of the application, client’s personal data, loan number, outstanding amount of debt, reasoned request for payment of the debt in installments, proposal of dividing the payday loan into installments (number / maximum amount of monthly installments) ), a request for positive consideration of the application and the borrower’s signature.
The question arises as to which non-bank institutions allow dividing payday payments into installments. Contrary to appearances, the selection of loan companies is relatively large and seems to be growing every year.