Are you looking for information on loan changes and do you want to know where you can apply for them in 2019?
Read our in-depth article on loans with bills of exchange.
Loans changed. What are they?
Loans are repayable by means of bills of exchange to be paid monthly on expiry of the security .
The amount of the installment and the number of bills is established contractually between the parties. It falls into the categories of unfinished personal loans and therefore it is not necessary to specify the reason for the request.
The rate applied in the loan agreement is fixed and the installments are constant. Access is in theory more flexible than a traditional personal loan.
In fact the bill signed by the debtor represents a strong guarantee being a title of credit that allows to return more easily and more quickly in possession of the sums lent in case of insolvency.
This means that even a customer who has had some problems with loan payments or mortgages could still access this type of loan.
The amounts disbursed usually range between 2,500 and 50,000 euros, while the repayment period ranges from one to 10 years.
The repayment installment may not exceed 30% of the applicant’s net income.
What is a bill of exchange?
The bill of exchange is a credit to the order, which contains an unconditional payment promise in favor of a beneficiary.
Who issues it is called a tracing subject, while the one who is obliged to pay the sum indicated on the bill at the expiry date is called a drawee. It is also often said that this is an abstract title, in the sense that the reason for payment is not indicated.
Indeed, even if the underlying credit relationship ceases, the bill of exchange must be equally honored.
Who can apply for a loan with bills?
To obtain a loan with bills of exchange, you must clearly have a demonstrable income.
The categories that can more easily request the loan changes are the following:
- Permanent employees
However, each company has its own access criteria. Some, for example, do not provide to self-employed workers. Others, on the other hand, also require a guarantee of severance pay for employees.
In addition, the presence of a guarantor who will be responsible for paying the installments in the event of insolvency or additional additional guarantees may also be required.
In this case, it is possible to obtain a loan repurchased even without a pay slip or with an atypical work contract.
In this case, a guarantee from another person may be required.
Loans are therefore mainly aimed at bad payers and those who cannot get a loan because they do not meet the criteria of creditworthiness.
We see all types of loans issued and which documents are required for the request.
Loan changed for employees
This type of loan is certainly easier to provide for permanent employees as they are the ones offering the greatest guarantees.
Usually the documents required for the request are the following:
- identity card
- sanctuary card
- Declaration of the provisioned severance pay that will serve as a further guarantee for the loan
Loans for employees are certainly not the first choice having more convenient loans available given the guarantee of the paycheck. But in the event of a loan rejection they can be a viable alternative.
Loans changed for pensioners
If you are retired and you have been reported in CRF or other databases for late payments.
You could request the transfer of the fifth of the pension. But in the case of impossibility even for this loan the only solution could be to request a loan with bills of exchange.
The documentation required is as follows:
- personal documents
- pension slip
Loans changed for self-employed workers
In this case it will not be easy to find someone who can provide a loan with a loan because an independent worker has less guarantees than an employee or a pensioner.
In fact, the presence of a guarantor of trust or other forms of guarantee may be required.
The documentation to be presented is the following:
- tax declaration
- personal documents
- user registered to the applicant (gas, electricity etc).
Loans remitted without payroll
In the case of people who need money but without a demonstrable income, things become much more complicated but it is not impossible to obtain a loan with bills of exchange.
In this case, in addition to the bill of exchange guarantee, a guarantee will also be requested from a guarantor who will answer for the applicant in the event of insolvency.
In the case of a loan application without a pay slip, a further guarantee such as that of a real estate asset may also be required.
We reiterate, however, that the fundamental prerogative of this type of loan is the fact that it can also be requested by bad payers or protesters.
Where can I apply for a loan?
Now let’s see what companies provide this type of financing in 2019.
If you are asking the classic question: “Where can I request a cambializzato loan? “You are in the right place to find out to ask for financing with bills.
Browsing online we found these companies that provide these types of loans:
- 4 credit
- Theorem fin.
With regards to the requirements and the timing, it is a good idea to investigate directly with the companies in question.
If you have found other valid financial institutions that provide loans that have been loaned, please let us know if you want to in the comments so that it can also be useful for other people looking for a loan.
Loans debited at home
The loan request can be made online also in many cases.
Once the application and the accompanying documentation have been presented, we can receive a person in charge at home to sign the loan agreement and to finalize the preliminary investigation procedure as quickly as possible.
Subsequently, in the event of a successful outcome, we will receive the cashier’s check as a liquidation of the loan .
Benefits of changing loans
The hanrew loans also allow bad payers access to credit and in addition there is also greater flexibility in making payments. For those who have suffered a protest, there may be greater difficulties. Please note that bills of exchange can be renewed.
That is, before the expiry of the effect it is possible to postpone the payment date by agreement between the parties. But we must also take into account that the longer the payment is postponed, the greater the interest.
It is very unlikely that the loan with promissory notes will be granted to those registered in the protest register.
And the disadvantages. In general, the loans issued have higher costs if compared to classic personal loans and if you are not sure of repaying the installment it is better to avoid signing bills because you run the risk of being protested with all the consequences of the case.
The higher costs are clearly due to the greater interest given the higher risk assumed by the credit institution and the revenue stamps to be applied to bills of exchange.
Furthermore, the creditor can refer more quickly and effectively to the debtor in the event of insolvency.
Attention then! Before approaching this type of loan, carefully consider what the conditions and possible consequences are in case you fail to pay an installment on time.