Wondering whether to seek a loan from a pawnbroker or an authorized credit organization? What is the best option for you when you need urgent financial support? In this post, we will offer you some facts to help you make the most informed choices about yourself and your loved ones.
What are the advantages and disadvantages of pawnshops?
When using this type of service to provide the necessary funding, it is logical to realize that we will have to make a bet. It aims to secure our credit, so this type of financial organization provides the risk it takes, giving you the necessary funds.
One of the unpleasant things about this type of microfinance is that you have to split up with your possessions, which you may use on a daily basis.
Among the most popular bets we find:
- TV sets;
The risk of granting credit of this type is that there is a possibility forever to lose the pledged thing in force majeure circumstances. This is extremely unpleasant when the item in question has a great deal of sentimental value for us and / or our loved ones, such as your grandmother’s golden ring.
The most important advantage in this type of microfinance is that it is really fast. In the modern world of intensive provision of financial services, however, this is no longer so important, as credit institutions allocate the necessary funds within a few minutes. This type of creditors are gradually losing their importance on the market because they have practically nothing to offer.
They are still predominantly targeting poor credit score for whom credit organizations are skeptical about funding, and this puts them at a disadvantage. For all the others a much better option is the services of institutions such as Gandalf Credit.
What are the advantages and disadvantages of credit organizations?
Which are the biggest advantages of lending companies licensed by the BNB in the case of mass media? The most common benefits include:
- Remote Service;
- Larger loan sizes without a pledge of life-size items;
- Responsibility to people.
The truth is that in 2018, pawnbrokers in Bulgaria have nothing to offer to people who would have been approved by a credit institution for funding, and that is precisely why they focus on borrowers who have often taken on debt spirals and have no prospects to come out of her.
By contrast, companies such as Gandalf Credit prefer not to provide funding to people who are rather harming themselves than they are helping with the money they receive. We consider this ethical and part of our corporate responsibility to the society that created us as a lender.
If you need urgent borrowed money with clear repayment terms, do not hesitate to contact Gandalf Credit consultants to find out if you are eligible for a fast online credit .