What to do when you need money and the bank has denied you a loan?
There are times when you need urgent money and you don’t know who to turn to. Friends and family cannot help you and banks have denied your credit request. Worst of all, you know you can pay it back because you have a fixed income every month. You are not delinquent, you just have an unforeseen event and you need urgent money. Who to turn to when it seems that all doors are closed?
There are companies that grant small loans quickly and easily. This is the case of Izoo, which grants mini-credits from € 50 to € 800 to be returned within 14, 21 or 30 days. Surely you have heard about many companies of this type but you just did not trust and gives you some distrust. We will try to solve your doubts and help you make the decision whether or not to apply for a loan online.
What is Izoo?
Izoo belongs to the multinational that has been leading the granting of fast personal mini-credits for more than 30 years. It is present in more than ten countries in North America and Europe. Here in Spain, Izoo is a trademark of Approved money. It is one of the best options for people who urgently need money and the bank does not grant them a loan.
Through a simple system, each customer can choose how much money they want and how long to return it. In this way, Izoo does not force any of its clients to face economic situations beyond their means. Also, since you know the cost of your loan from the beginning, there are no last-minute surprises. Everything is very clear from the beginning. The credit is requested online in a very intuitive and simple way.
How to request a small loan online?
Don’t worry, because you don’t need to be a computer expert to be able to make your loan application online. You just have to follow these simple steps and the instructions on their website:
- Choose the amount of money and the time to make the return: Through its simulator, choose the amount of money you want and the time in which you want to return it . Thus, if you need € 200 and want to return it in 30 days you will have to pay € 260, the total cost of interest being € 60.
- Fill out the form: Enter their website by clicking here. In the form that appears you must provide personal information, bank account number, debit / credit card and mobile phone number.
- Wait for the answer about your loan: They process your application online and shortly inform you if your application has been approved or not.
- Soon you will have the money in your account. The speed will depend on the bank you work with. If they operate with your bank you will receive the money in minutes, otherwise the payment of your loan may take 24 hours or 48 hours if it is a weekend.
It is as simple as you are reading. It is transparent from the beginning and you can check the commissions of each loan in a table on its website.
If it is the first time you ask for a loan with Izoo it can only be € 300. As you show your responsibility when paying your loan Izoo will increase the amount of credit you can ask for up to € 800.
Who can request a small loan?
If you want to know if you meet the requirements to request a mini-credit, check out this information, so you will save time before making your request:
- Be a permanent resident in Spain: You must be a resident and prove it by means of DNI, NIE or residence card.
- Be between 18 and 65 years old: You must be of legal age to be able to ask for your money quickly.
- A mobile number in your name.
- Credit card number: This credit card must have you as the holder.
- You do not need endorsement or payroll. This is great news, but although it is not an essential requirement, you must prove to have a regular income of more than € 500.
- Not be enrolled in Asnef: ASNEF, RAI or any other list of delinquents.
I can defer payment of my credit online
Although always, before applying for a loan, you have to know how you are going to pay it, it may happen that you have an unforeseen event and need more time. If this is your case, you can talk to Izoo and ask for an extension. Keep in mind that you should always ask for it before the deadline.
When requesting the extension, you will have to pay the expenses corresponding to the commission of the initial loan. In this way you prevent your debt from increasing, since you do not add the expenses of the first loan and the expenses of the extension. They are settled by order without giving option to add both expenses.
The duration of the extension may be one month at most. That is, if you have requested € 200 to return them in 30 days, you will have another 30 days over the term.
Return your small loan
When the deadline is met, Izoo will charge you directly on the card you provided the amount of your loan. It prevents the balance of said card from being insufficient to avoid problems.
If you do not pay within the stipulated period you will have a penalty of default and this will result in a considerable increase in your debt. Your data may also be provided to the Credit Rating and Fraud Prevention Agencies. That is, appear on some list of delinquents such as ASNEF, which will harm you in the future when you can request another loan from another company.
On the contrary, if you return your small loan early, you will benefit from the decrease in the commission you have to pay. That is, your loan is cheaper and will increase the confidence that Izoo has in you for future loans.
It is important that you understand well that a small loan is not a source of recurring financing but rather a timely advance of the payroll. You have to be clear at all times that you can deal with the return of your credit without any problems. If you are asking for a small loan to pay off a previous debt it is not the best solution, since you will enter a circle from which it will be difficult for you to leave. If you have doubts about how to deal with your loan payment, you better not ask for it.
But if this is not your case and you know that, after the deadline you will be able to amortize it without problem, Izoo becomes the best option. The tranquility and security that they transmit when they know that they belong to a leading group in the granting of microcredits is essential when talking about loans. It is no accident that it is present in so many countries. It is the service that it provides to its clients and the satisfaction that they obtain that has made it one of the most relevant companies worldwide.