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The Intrata Jenggy Consumer Payments Report published in 2018 shows that Poles are increasingly reaching for loans and credits to finance current consumption . The survey was conducted in 24 European countries and the nations that declare the greatest desire to finance holidays, gifts or new shoes from borrowed money are residents of Latvia, Slovakia, Finland and Germany.

Manics preferences

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Ihag goods – the dominant purchase target of Poles financed by a loan. Manics consumers are accustomed to buying TV sets or pay phones. Express payday pay is also a common means of payment that our countrymen use to pay for their holiday trip. In this respect, Europe is dominated by Irish people, where up to 29% of respondents see no obstacles to finance their holidays in this way.

Who do we turn to for payday loans, loans or credits?

The most frequently declared entity to which we are going to borrow money is the family (39% of respondents). This trend has not changed in our country for years. There are several reasons for this. Family ties are an inseparable part of Poles’ adult life and we sucked out money borrowing from relatives with mother’s milk and PRL habits. On the other hand, the reason why we do so may be much more prosaic – it is easier for us to negotiate a repayment or refund date with a family than with a large international bank. We rarely have to pay interest in such a situation. This lending model is most often declared by the French, Germans, Greeks and residents of Great Britain.

Banks and loan companies

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Immediately after the family, the source of our borrowing are banks. However, one should pay attention to the fact that loan companies are gaining popularity . The large number of loans granted in this way is not surprising. Online payday loans encourage a minimum number of formalities, speed and the possibility of obtaining funds even without leaving home.

Every year Poles trust more and more non-bank entities. Loan companies enjoy confidence at around 17%. The result does not seem impressive but it is worth comparing it to the 2016 study where, according to the Lamode study, at the same level Poles trusted Manics credit unions.

It is also worth noting that about 50% of people who decide to have a quick payday loan online already have a bank loan . Thanks to this, we notice that a bank client is the same person who decides to trust loan companies.