Private Loans – How Not To Be Fooled? Offer and Opinions


`Where did private loans come from? In a model situation, if we need additional money, we go to a bank or loan company. In practice, many people have a negative credit history (delays in paying off other liabilities) and can forget about the loan.

This is when we start looking for popular “loans without BIK”, i.e. offers from loan companies that either do not verify in debtors’ databases or accept arrears.

Unfortunately, many customers even in such companies will not receive a loan. A court bailiff, low creditworthiness or over-indebtedness are standing in the way . That’s when the frantic search for “private loans” begins as the last resort.

Private loan – (after) what is it?

Private loan - (after) what is it?

Let’s start with the definition. A private loan is a loan that is not provided by a bank or loan company , and by private lenders often called “investors”.

In the sense of a broad private loan, it can also be from people close to you – family members or friends. However, in this case the risk of any fraud is negligible. The main threat is private loans over the Internet provided by people unknown to us.

For whom private loans


In the current opinion, private loans are available to indebted persons and without verification at BIK . What does reality look like? Private investors may actually not check clients in any databases, such as Credit Information Bureau or KRD.

But there is nothing for free – in exchange for accepting a bad credit history, the lender will ask for high interest rates, commissions or fees , and above all, additional collateral in the form of movable or immovable property.

The same applies to the lack of creditworthiness. It even happens that a private investor accepts the lack of employment of a potential client. However, this does not result from a “good heart”, but rather from solid security. In the case of non-repayment of debt (depending on the contract and security), it can be quickly satisfied by:

1) acquisition of movable / immovable property

2) demanding repayment from the guarantor

3) refer the case to debt collection

4) transfer the case to the court and then the court enforcement officer.

What is worse, private investors pay very much to debt enforcement . In the case of even a few-day delay in repayment, we can expect a phone call from debt collection and even meeting eye-to-eye with an employee of the field debt collection. It is also not uncommon to visit the workplace, frequent telephone calls and text messages reminding you of repayment.

Very high risk of fraud

Very high risk of fraud

Before we get any private loan, we’ll have to search our offers. Most often this is done via the Internet, where “private investors” mainly advertise.

Unfortunately, many of these ads are attempts of fraud . What is it about? Most often offering a fictitious private loan, the fraudsters only want to extort the initial, preparation or handling fee – often via SMS. The most-famous case is the story of “Pomocna Pożyczka” from the Tri-City. Her owners are waiting for a sentence in custody, and it is estimated that the company has cheated nearly 70,000 people!

Another way is to charge too high interest, commission or other fees that exceed the maximum loan cost specified in the anti-usury law.

For many scammers, quick private loans are also a way to take over the assets of a person who decides to make such a product and is unable to pay off the debt. It is about situations in which the loan is secured by real estate (flat, house, plot) or movable property (car, tractor, machines). The security itself is not prohibited and is often used by the banks themselves. The problem arises when the lender uses the client’s involuntary position and forces him to sign an unfavorable contract that assumes “an incommensurate mutual benefit”. This behavior is referred to as usury and is punishable by imprisonment for up to three years.

Another method of cheating is to scam personal data . Mainly it’s about name, surname, PESEL number, e-mail address, address of residence. The fraud may take a different form, but the assumption is one – the “investor” does not intend to grant any loan, it is only for our personal data. For this reason, his offer looks so good that it is hard to believe. What are our personal details about the fraudsters? In the best case, we will be attacked with loan offers (e-mails, SMS messages). It may happen, however, that the fraudsters will want to take out a loan themselves – this time using our data.

Private loans – how not to be fooled?

Private loans - how not to be fooled?

We mentioned that private loans are treated by many people as the last resort. The most important thing, however, is that such a transaction would not be the proverbial nail for the coffin. What should we pay attention to when deciding on private loans?

1) Private loans should be a last resort

Each loan should be a last resort, especially from private investors. It is known, however, that no one without a difficult life situation decides to take such a step. Before signing a contract, it is worth checking out other ways to get out of debt or look for a loan, for example in a family.

2) We determine who is the investor

The most important thing in the case of a private loan – we check who gives it. Verify all available data, that is:

– name and surname of such a person

– PESEL number

– number nip

– address and registered office of any activity.

If we have a problem with determining the basic data (or data arouses our suspicion) – it is worth withdrawing from such a transaction.

3) We check the investor by first and last name

At the beginning it is worth checking who is the person who wants to give us a private loan. Thanks to this, we will determine if such a person really exists (in today’s world, we should find any information on the Internet).

In addition, it is worth checking if such a person is not in the CEiDG register, ie the Central Information on Economic Activity. CEiDG is a government base in which we can find natural persons running a business. The check is free and takes place entirely via the Internet via the website.

4) We check the list of KNF warnings

For safety, check the list of public warnings prepared by the Polish Financial Supervision Authority. The list is available for free on the Internet at:

The warning of the Polish Financial Supervision Authority should be checked in terms of: the name of the investor and the address of potential operations.

5) We check the investor by NIP, REGON number

In theory, private loans are provided by people who do not run a business in this area. However, if the investor, while offering a loan, also indicated REGON or NIP, it is worth checking it in the CEiDG database. If we do not find such an entity – most likely it is an attempt to cheat.

If the data matches – it’s worth checking this entity in Google search. Unfortunately, providing fictitious NIP and REGON numbers is not uncommon – on the Internet we encounter many pages, where the given data does not exist.

6) We check the opinion about the lender

If all the data is correct, it is worth checking the opinions of the lender / private investor. We encourage you to read on the internet forums, where there is a greater chance to read real comments and opinions. On the other pages, most often we will meet with false opinions, made not by satisfied customers, but hired marketing employees.

Sometimes, a cursory check on the internet can give you an answer if you do not have to make a cheater.

7) We do not pay any initial fees, commissions before concluding the contract

One of the most important rules for borrowing from unknown people. Interest, handling fees or commission are normal costs associated with granting a loan or a loan. The problem arises if the lender requests such fees before signing the contract. In this situation, it is most likely a simple fraud.

In this way, we can lose from several dozen to even several thousand zlotys. How do scammers work? Most often they promise a low-interest private loan to every customer – even without creditworthiness or a negative credit history at BIK. The condition is, however, to pay a “handling fee”, a fee for “drawing conclusions” or another. This is a clear signal to withdraw from such a transaction and not make any payments.

8) We read the rules and privacy policy of websites

Did you find an interesting loan on a dedicated website? Read the terms of service and privacy policy. In these documents we find the most important information about the subject who runs the website and is to be the lender.

If we do not find these documents on the website – it is worth letting go. We can also meet with the situation that the rules and privacy policy can be found on the site, but we do not find any information about those people who are behind it in these documents.

9) There are no free loans for over-indebted people

In economics, it is indicated that there are no “free dinners.” Similarly in the loan industry – we will not find any private loans, in which the APR is 0%. If any investor or private lender claims to offer a free loan – this is probably a phishing scam.

10) There are no cheap private loans

The cheapest loan can be a loan in the family – unless, of course, we agree with the family member regarding the financing conditions. We pay more for a bank loan, where APY is on average several dozen percent. Even more in loan companies providing loans online. And the most we will pay for private loans – especially for indebted people and without verification in BIK.

In other words – such a loan will not be cheap. The risk of borrowing excessively indebted people is very high. Since the person has or had problems with paying off other obligations, unfortunately this can happen again in the future. Investors know this very well, who must properly assess their product to compensate for the insolvency of other customers.

What instead of private loans

What instead of private loans

Instead of risking looking for a private loan with an “investor”, it is better to use selected non-bank companies that provide financing on better terms. What is important – part of the loans is also available for indebted people, entirely on the Internet and without certificates.

1. Rapida Money

  • Amount: from 2,500 to 2,500 zlotys
  • Repayment: from 12 to 60 months
  • Acceptance of negative history
  • All over the Internet
  • No income statements
  • APRC 62.41%

Submit an application

The best offer on the market. Rapida Money grants loans to indebted persons, accepts even court bailiffs. The repayment security is the guarantor who should join us with the contract.

2. Hapipożyczki

2. Hapipożyczki

  • Amount: from PLN 800 to 25,000
  • Repayment: from 3 to 48 months
  • All without leaving your home
  • Possibility to repay after 2 months
  • Minimal formalities
  • APRC 9.8%

Submit an application

One of the cheapest online loans available on the market. The company does not require any security, and we’ll do all the formalities without leaving your home.

3. MoneyGuru

3. MoneyGuru

  • Amount: from PLN 100 to PLN 10,000
  • Repayment: from 3 to 24 months
  • Money even in 15 minutes
  • A loan for any purpose
  • High acceptance of applications
  • APY: from 0% to 1971%

Submit an application

MoneyGuru is a financial intermediary who helps in choosing the best installment loan. A proposal for people with negative credit history. No initial fees.

Representative examples:

1) Rapida Money

A representative example: you borrow 25,000 PLN for 48 months, paying 1204.12 PLN per month, the total amount to pay 57 797.60 PLN. Commission for the loan: PLN 25,000. Fixed interest rate: 10%, APRC: 62.41%

2) Hapipożyczki

The Actual Annual Interest Rate (APRC) for a representative example is 9.80%, the total amount of the loan (without crediting costs) is PLN 9,200, and the annual fixed interest rate is 0%; the duration of the contract – 36 months; the amount of monthly equal installments: PLN 294.20; total amount to be paid PLN 10,591.04, total cost of the loan PLN 1,391.04 (including: total interest – PLN 0, commission PLN 1,391.04). The calculation was made on 06/09/2018.

3) MoneyGuru

A representative example: The actual Annual Interest Rate (APZ) is 510.4%, the total loan amount is PLN 1000, the total amount to be paid is PLN 1331.70, including: PLN 325 commission, interest PLN 16.70), duration of the contract: 3 months.