The instant cash loan is used if the money should not go through your own house bank or another account. There are several reasons for that. Either the house bank should not be informed about the loan project, or the loan amount is required for the immediate settlement of due bills. Even if a family member is to be helped, an instant cash loan is sometimes required.
Personal loans
Instant cash loans are not only granted by banks but also by private individuals. It is even common for the money to be paid out in cash. Only in the rarest of cases will a relative or acquaintance granting a personal loan decide to transfer it cashlessly to the current account of the borrower.
The repayment of a personal loan is not subject to as strict legal requirements as the repayment of a bank loan and can therefore largely be regulated individually. As a rule, the two contracting parties will also decide that the loan will be repaid in cash.
Instant cash loan – advantages
In addition Instant cash loans for when you need your money fast, there is a great advantage for the borrower if, for example, a garnishment is on the only available account. Such attachments can be made by creditors. The tax office does this without further ado, the account is then blocked until the sum is cleared. In the case of ordinary creditors, the debt must have previously been dubbed, that is, a creditor has issued a warning and, if the debt has not been settled, obtained a court order that was preceded by a lawsuit.
Only if the action is successful is the enforcement order issued; an objection can still be lodged against this and protection from seizure can also be applied for. However, applying for seizure protection has consequences. The account is then safe up to the seizure exemption limit before enforcement, but a seizure protection account is registered with Schufa and jeopardizes the creditworthiness for years.
This would also be done in controversial cases, which is why some debtors waive the necessary measures and are then enforced. After that, they are unable to act, sometimes despite a good credit rating, simply because of a controversial claim that happens every day. The only thing that helps here is an instant cash loan.
The procedure is even more precarious when it comes to claims by the tax office. There is no need for a court order here, the tax office issues a one-time warning with the announcement of enforcement. If payment is not made, enforcement will follow punctually after the end of a calendar month. Even an objection to a tax assessment does not prevent enforcement. This is done according to an internal mechanism of the tax office, the objection, on the other hand, is processed slowly and patiently by the officials and possibly rejected.
