Amara walker October 7, 2023

Emergency loans are saviours. They can help you manage a bigger problem. Even if you do not manage the problem easily, a loan of this kind can offer you an extension in your management policies so that you can solve an issue effectively.

We are a direct lender in Ireland. We have been working with countless borrowers almost on a daily basis to help them with the loans they want. Borrowers naturally throng to get this loan. However, if you follow the records, then you will see many, in several ways, get the emergency loan wrong. We cannot blame borrowers, though. A tricky situation that's urgent or an emergency that does not let them think can make them miss out on the facilities of the loan product.

This is why we decided to write this blog. We want to be 'unplugged' about the much-known, appreciated emergency loans and tell you how you can get the best out of it. This is where you will need to learn about the loan product first. The points mentioned below can help:

Since They Are Personal Loans, They Are High in Interest Rates, but…

Any online loan will come at a high interest when it is not a secured loan. However, with that loan, you can get the freedom to use the money in the way you want. Besides, should we ignore the fact that the loans are faster because there are no extra verification clutters for collateral or guarantor requirements?

Yes, emergency loans will come at a higher interest rate. However, there is a way to help the borrower. You can find out more than one repayment package we offer for a single loan. In this way, you can check different rates and instalment amounts to select the one that suits your present financial condition the most. It will help you save some money as well.

You Need to Know Your Borrowing Limits

Since emergency loans are offered only if your income suits the repayment needs, you have to be sure how much you can borrow. We can say that you need to come to a common ground between the money you are looking for and the amount you earn. Here are a few ways to find that out:

  • Arrange all your income details to find out all your earnings.
  • Make sure your income details contain the information of your financial statements transparently.
  • If you have debt and are repaying it, do not forget to calculate that, too, to define the income you are left with.
  • Use a loan calculator and find out which repayment package suits you the best. As you have already learned, the interest rate will be a bit higher with a personal loan. That's why we want you to calculate all the repayment packages to find the most affordable one. 
  • If needed, look for other loans. Speak with the lender if you are confused.

In times of emergencies, one might get confused over what loan package to choose from and how to manage repaying. This is where you should speak with your lender to come to a point of clarity with your borrowing.

You Will Go through a Soft Credit Check, Which Does Not Influence the Loan

With emergency loan processes, we lenders already know that you are going through a problem. When there is a problem, chances are your credit score is not okay either.

In these situations, the borrower needs quick money before everything. A hard credit check will only complicate the situation. Besides, getting credit for emergencies with a hard credit check is difficult. Therefore, we switched to a soft credit check to justify lending and the formalities required.

For example, you might need to look for car finance right now. Maybe it is an emergency repair, or you may have spotted a deal where the car's price tag got a drop. If you have a poor credit score, then do not lose heart. Our bad credit car finance options can easily provide you with the cash you need for your car. We would definitely want your credit score. But, we would make a soft credit check to learn about your financial behaviour and see which loan products might suit you the best.

Emergency Loans Are Basically Online Loans

By far, you have understood that emergency money loans in Ireland are not typical loans you need to take out from a lender by physically being present at the lender's office. It is an online loan, and therefore, you can get the money from the comfort of your home.

  • The loan application is made in a paperless way. You just need to fill in the details on the private lender’s website.
  • The loan verification is also done online. You will need to send details that are authentic and are instructed by the lenders.
  • When verified, the lenders offer you the loan approval online. You can use this formal document to manage emergency payments or situations.
  • The money is also offered to your bank account digitally within a day.

You can repay the money as your lender has fixed the instalment amounts. You can repay them online. Make sure you do that in time to ensure positive borrowing records. It will also do justice to your credit score.

And, They Are Unsecured

Emergency loans are personal online loans. You do not have to find yourself in a tight spot with others; 'lengthier' matters to take out the money. It is simple, effective, and fast. If you are still doubtful about the process, then you must know:

  • Emergency loans do not include collateral.
  • You do not have to bring someone as a guarantor to co-sign the loan terms with you.
  • Your loan is 99% guaranteed if you supply the correct information.
  • We do not charge extra money or have hidden fees to offer you the money.

Personal loans are considered the easiest loans. That is why they are deemed as one of the most important options for an emergency credit.

To Conclude: How to Repay Your Emergency Loan without Failing

Well, you can choose the right loan package. Before signing up for a loan, it is very important to understand which loan repayment package might work best for you. You can also automate repayments. It will save you from untimely payments and, therefore, contribute to your credit score.

We do accept alternative income to help you repay the money. It helps widen your chances of borrowing. Here are a few options we accept:

  • Regular day job income
  • Part-time income
  • Freelance or contractual income
  • Business income
  • Benefits
  • Business plans

Do you want a loan right now? Are you going through an emergency? If you understand how emergency loans work, you can apply with us instantly. Or else, ask us for a conversation. We will be more than ready to help you out.