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Loans over 18 are not available – why not?


The age of 18 is the limit when a young person reaches the age of majority and thus has to take responsibility for his or her actions. Many people still wonder why almost everything is allowed from the age of 18, but getting a loan from a lender is still not the case. Lenders still stick to the age of 21. Have you ever faced such a situation when you want to get a loan, but 18 is too little? Continue reading to find out if 18-year-olds are the best way to borrow!

Another would consider the 18-year ban on credit to be false, while the other would support such an idea. People differ on this, but the pros and cons remain the same. What would they be like if a loan from 18 were available?

The options are the same as any quick loan

The options are the same as any quick loan

Quick Credit has a number of benefits that can make every day much easier in problem situations, such as:

  1. opportunity to get the missing funds quickly. Often 15 minutes is enough to settle your loan and get the money if you have to transfer it within a single bank and you have sent your application for consideration during the lender’s business hours;
  2. the privilege of using them for their own purposes. For example, when you turn to your parents, you will always need to explain in detail who needs the money you want from your parents’ wallet, but the lender will not be so strict and allow you to handle the money you give yourself without restricting your purchases;
  3. different options. Lenders have become more and more popular in recent years, and often their offers exceed those of competitors, so it is definitely a positive thing for the client. As a customer, you have the opportunity to choose the most advantageous of the options available that meet all your wishes and options, both in terms of receiving money and paying back.

18 year old quick loans are not available everywhere, how do you know which lenders to get this type of loan?

Loans over 18 years are available to a limited pool of lenders. Who issues this type of loan? Lenders that specify in their terms that loans are to people over the age of 18. In other cases, unfortunately, you will not be able to get a loan. Admittedly, rarely do any lender offer the option of getting loans from the age of 18, as they have, of course, their own disadvantages, as mentioned above.

Why are only a small number of lenders using such tactics?

Why are only a small number of lenders using such tactics?

Various lenders, including us, Ricky Ver, choose to provide quick loans to older people – from the age of 20. Although two years does not seem to be much, at this age lenders face various risks when lending to younger people, such as:

  • cannot be sure that the information provided is true. Although the young person indicates his or her place of employment, Latvian legislation does not allow the lender to verify that this information is true. Admittedly, young people aged 20 or 21 are more likely to be found in different jobs than those who have just reached the age of majority;
  • there is a higher risk that the loan will not be paid on time. Various collateral conditions leading to financial instability may prevent young people from paying off their borrowings on time;
  • it is also necessary to request other information to confirm the income. For example, if a young person who has decided he needs a loan online from the age of 18 now does not have a stable job, then he needs to ask for other documents to prove that the loan can be issued, such as a bank statement.

Young people under the age of 18 are less likely than adults to run out of resources. Many young people of this age are still cared for by parents and it is their concern to ensure that the child is fed, dressed and provided with everything they need, which also makes lenders wonder – should quick loans from 18 be granted?

Before you get and choose – think twice!

Before you get and choose - think twice!

Before making any money transaction, it must be carefully considered whether, in the event of a loan being made, there will be circumstances which make it difficult or even impossible to repay the amount borrowed. 18-year loans, like any other type of loan, are an important step, and we recommend that you consider the following before entering into a contract:

  1. need. Is the reason why you borrow from the banking or non-banking sector lenders is so urgent, urgent and necessary to do so right now? You may want to do away with your desired purchase or wait for yourself to save money, saving you a lot of worry that you might not think of when repaying your loan;
  2. volume. Do not borrow more than necessary. Plan how much you plan on spending and borrow just enough to cover it, not more than $ 50 or $ 100 with the idea that it will ‘come in handy’. Of course, money is always useful, but remember that giving it back will take more effort than spending on a daily basis;
  3. relevance. This is in line with the current financial situation. Before entering into a contract and turning to the lenders, it is worth considering whether your current financial situation is sound enough to repay the loan within the contract period. Remember that breach of contract will also have to be paid for, and in the end, trying to save your original financial situation may cause you to suffer even more.