The Latvian rapid credit industry is developing very fast and more and more companies are offering their lending services to consumers. Both young and old find out about the ability to borrow quick credit from various ads or acquaintances. As we know, it is quite easy for younger people to be persuaded about taking such credits or about how much extraordinary income would be useful.
Young people really need credit?
Of course, money can be useful in any situation, but just how much it is needed and do young people really need credit? The answers to this question are different, because everyone’s life, experience and surrounding circumstances are different. Therefore it is not possible to judge the whole group of people. SMS credits are one of the ways you can apply for a short-term loan. Several years ago, Finland introduced a new technology that enabled credit institutions to apply for a loan by sending a simple SMS to the customer.
How SMS Credit processed
This technology was also introduced in lending companies in other countries, including Latvia. Currently, almost all non-bank Latvian lenders offer SMS services. Usually the process of using this service is simple. When registering, you must provide your phone number on the company website.
This number is later sent to a confirmation message. After signing up, you need to send an SMS with a specific text, loan amount and repayment date to the number indicated by the company. Such a service is easy to use if you need a quick loan but do not have access to the Internet. The issue of quick loans has also been discussed among most non-bank lenders in Latvia.
Young people is allowed on credit but limited
In practice, all quick credit issuers have agreed that loans cannot be issued to persons under 20 or 21 years of age. There is only one creditor in Latvia – 24Lenders, which offers both SMS loan service and short-term loan from 18 years. This is also the only option for an 18-year-old to use an SMS credit service. This creditor has also set other criteria without a minimum age. There must be a permanent resident of Latvia with good credit history and regular income. The official workplace will certainly be able to convince the lender of the customer’s solvency.
So we can conclude that the credit for the 18-year SMS is a real thing, but the likelihood of getting such a loan is minimal. The lender is just one and absolutely must meet all the criteria put forward by the creditor.