Urgent formalized loan – Get a loan with bills in a few days
These are personal loans (ie loans not intended for the purchase of a specific good or service) repayable through bills of exchange generally on a monthly basis. The parties can also decide on different rates, while in some special cases the general rule is that a single bill is issued (a typical example is the agrarian one).
Today most financial operators, whether they are banks (like Findomestic rather than Unicredit) or financial (like Bankate or Cleopar ), prefer not to use them. The situation changes for those financial companies that are normally medium to small (almost exclusively present in large cities such as Rome, Milan, etc.) that have specialized in granting loans assisted by the issue of bills of exchange.
Much more widespread is the case of a personal loan with a promissory note, which is one of the fast ones for rapid approval, in which the signature of a single “disinvestment effect” with a fixed maturity ( normally equal to the maturity of the underlying loan) is required. This is a personal loan for all purposes, to which an ancillary guarantee is given, represented, precisely, by the exchange effect, which allows a faster recovery of the credit in the event of insolvency. For this reason they are also used as a form of private lending, always in compliance with the limit imposed by the rate of wear to avoid too high rates.
To obtain a loan, it is generally necessary to provide adequate security:
- TFR => employees (this guarantee facilitates financing for bad payers).
- Life insurance policy (stipulated for at least 2 years) => self-employed or freelancers
- Garante => (called avallante) new employees
In reality it is not the law that imposes the co-presence of these other forms of protection as requisites, but rather is dictated by the prudence of the financing subject. In fact, by its nature, the promissory note offers a level of reassurance on the possibility of very high debt satisfaction.
How do they work?
Beyond the high possibility of customization, and outside the presence of bills, distinguishing them from a normal financing is quite complicated. With respect to them the aspects in common:
- The choice of a figure that must be between a minimum and a maximum, but always in compliance with the judgment of the reimbursement capacity attributed to the applicant;
- Any request for additional guarantees ;
- Duration of a repayment plan which generally ranges from a minimum of 12 months to a maximum of 120 “monthly payments”;
- Possibility of early repayment.
As a procedure, therefore, the contract is signed with the simultaneous completion of the bills of exchange. These will report the amount to be paid at each due date (within which the payment must be made) which includes interest and capital amount e. Every installment paid is delivered to the paying debtor and therefore acts as a relative ” receipt of payment “.
Benefits of loan financing
- It is not necessary to check the database, therefore the operation is not reported (except in the case of a personal loan as a guarantee).
- Normally the protesters cannot obtain loan payments, however, they can be accessed by the “bad payers” registered in the central credit (crif, ctc or experian) both autonomous and dependent. Here too, however, there is no written rule according to which banks, financial or private, are left the freedom to make a loan with bills of exchange even against the protesters. It cannot be taken for granted that the characteristics, the criteria of granting and the conditions will remain unchanged from year to year (for example 2016 compared to 2015), so you should always inquire about it if necessary;
- In general, with respect to the Assignment of the fifth, it represents a less costly financing transaction (both in terms of interest and preliminary commission fees) and is granted without severance pay as a “guarantee” of solvency.
- Greater elasticity; in reducing the amount of the installments (in case of temporary difficulties) thanks to the renewal of bills by the company that provides the loan. In fact, this renewal makes it possible to extend the loan, giving rise, however, to a substantial increase in total interest.
- They are also granted without pay slip, as the bill is the main guarantee.
The use of bills of exchange is the main disadvantage of the loan.
The bill of exchange is an enforceable title, that is, a document on the basis of which forced execution can be started without the need to prove the existence of the right.
Forced execution is a direct executive process to co-extract certain debtorable assets belonging to its assets and to convert them into money, in order to satisfy the creditor.
Therefore, in the event of difficulty in paying the installments, the risk of a protest is more serious and immediate than the classic (and more slow) debt collection procedure, typical of a personal loan.
Opinions and advice
This type of financing is an alternative, even if not an economic one, valid for those who need to find liquidity and the other alternatives are not accessible, but undoubtedly it cannot be the first choice when there is no lack of possibilities to move otherwise.
Being a product that belongs to a constantly evolving sector, today there is also the possibility of accessing the online and home-based loan. The tips not to forget, to avoid slipping into the risk of fraud, are:
- you must not anticipate consulting fees or for “practical” start (if due, they are retained at the time of disbursement on the amount granted). Therefore, if a sort of registration is requested, or the preliminary payment of the preliminary costs, it is better to look elsewhere;
- it is better to avoid unclear proposals from the web (in the case of financials, always check that they are authorized).
Generally this type of financing is advertised without charge, but on a factual basis it can be found in front of a very high account, and once the contract is signed there is little to do, so you must always request a quote or a copy of the contract for careful reading, before signing (it is one of your rights, it is better to exercise it).
If high figures are needed, and we do not return to cases where we need liquidity for an activity (for example in the agricultural sector), then it will be difficult to obtain satisfactory answers from the online financial companies, which concentrate on maximum amount levels generally medium-low, but alternative forms must be chosen (such as the liquidity loan, or the annuity one).