Sometimes it is necessary to provide special guarantees to be able to access a loan: this is the case of loans promoted (a solution also known as a loan or a loan with promissory notes ), which are characterized by the signature of promissory notes to guarantee the loan.
Changed Loans 2019: who makes them? List of the best financials
Below is a list of the best financial companies authorized to operate in Italy who offer loans with bills:
- Yes Loan (official site): search engine that allows you to find the best loan solutions in a few minutes, even with bills. Bad payers and protests can also use it;
- Loan Popular (official website): brand belonging to the financial company Best bank, is one of the best known and most reliable in Italy. Even bad payers and protesters can use it to find ideal financing;
- Compare Loan (official website): possibility to ask up to $ 60,000 without obligation, quickly by filling out an online form.
Changed Loans 2019: Complete Guide
Below are a whole series of information and clarifications regarding loans with bills. All information is updated to 2019 and is a guide to this particular type of financing.
How can you have it
In order to have access to this type of financing, adequate guarantees must usually be provided, including:
- for freelancers or self-employed, a life insurance policy that has been signed for at least 2 years
- for employees, TFR (for more information read our text on loans to employees )
- for new hires, a loan guarantor (for more information read the text on loans to new hires )
Depending on the category to which it belongs, it is important to have the relative minimum condition to access these loans changed without particular difficulties.
Tip : the guarantor always helps, so even if you are not newly hired, having one – or more than one – is always something to consider.
When do I need to sign bills to get a loan?
Depending on the bank and the financial institution to which the signature of the bills is addressed, it can be requested if the amount you want to borrow is very high, if the applicant’s credit situation is not properly clear and, more generally, each whenever a bank or financial company deems it appropriate to have greater guarantees than the classic single signature.
The loan with bills is a solution characterized by the fact that bills are used either as monthly installments, therefore to be paid to repay the obtained loan month after month, or as a guarantee of the loan.
Maximum loan amount changed
The maximum amount that can be obtained with financing with bills depends a lot on one’s working status, which we can distinguish between civil servant (or ministerial), private employee or self-employed.
- Public or ministerial employee: up to 80,000 USD
- Private employee: up to 35,000 USD
- Self-employed: up to 31,000 USD
The maximum capital disbursable by financial companies depends on several factors. In the case of employees, the main variables are those of the TFR ( Employee severance indemnity ), in the case of the self-employed worker much depends on the coverage value of the insurance policy.
Attention to the fact that the figures listed above are only indicative and can deviate from those actually granted by banks and financial companies. This is due to the fact that lenders always have the last word on whether or not to grant a loan, as well as on the amount of the loan.
Loans with bills: additional guarantees that may be requested. Depending on the situation, the bank or financial company may require additional guarantees in addition to those normally offered by signing bills.
In general, offer the guarantee of an asset that is easy to sell, in case the monthly bills are not honored.
In addition, you can have a loan guarantor, provided that it observes certain characteristics, as reported by us in our text on the loan guarantor.
How to repay changed loan
Bills of exchange can be used to secure a loan in two different ways.
- The first involves the signing of a single bill of exchange which acts as guarantees for the entire loan. In this case, the loan can be paid by RID (direct debit from the current account).
- The second involves signing as many bills as the loan installments. In this case, the periodic payment is made by honoring the bills (or paying them).
Additional costs of loans changed
Since changeable loans are solutions that normally have higher interest rates and additional costs than other solutions (we also talked about it in our text on loans with promissory notes), it is important to know these extra expenses to evaluate the convenience of financing.
Among the costs we find:
- expense for taking out life insurance (in the case of self-employed)
- loan agreement registration fees
- expenses related to the stamp duty (we also talk about it in the specific page of prestiticambializzati360.com
- investigation costs and opening costs
Among the main strengths of this financing we can see:
- there is no need to check in the database the possible registration of the applicant as a bad payer, since there is the signing of bills of exchange, the credit institution already has a certain security
- also available for bad payers or protests (more on that below)
- possibility of reducing the amount of the installments with the simple act of renewal of the bills. To find out more, we refer you to the specific page of the Nexus Law Firm website.
Among the disadvantages, however, however, we must consider the higher costs compared to other financial solutions.
Loans changed at home
Loans with home bills are indicated to indicate a particular type of financing (that of home loans) which is guaranteed by the signing of this executive title.
The convenience of this type of financing lies in the fact that you can receive the amount of money you need directly at home, in the form of a check.
Depending on the case, one could refer to this term to online loans, as the request is made directly from home.
Fast loans with bills
Just the online loans, those that can be asked on the internet, are also advantageous from the point of view of the speed of requesting and obtaining the sum, even only 24/48 hours.
Who can request them?
Loans with bills of exchange can be requested by everyone, although the probability of success in the application varies from subject to subject.
Below is a representative guide, in which we divide the information based on your personal or work situation.
Public and private employees
In order for an employee, both from the private and public sector, to apply for a loan, it is essential to respect the following characteristics:
- minimum working seniority: 2 years
- TFR accrued: 2 years
These are conditions that usually lenders require to grant a loan guaranteed by bills.
There are several requirements in case the self-employed apply for a loan :
- ownership of an insurance policy for at least 3 years
- seniority of the company of at least 2 years
- demonstration of a fixed monthly income that allows you to deal with the repayment of bills (the proof is through the tax return)
One of the categories of people who may find themselves in need of signing bills of exchange to obtain financing is that of bad payers.
In essence, these are people who have had financial problems in the past and who have not regularly repaid previous loans. For this reason they have been subjected to the entry in the register of bad payers, which precludes, most of the time, access to an additional loan.
Bills of exchange can help a lot from this point of view since they provide that additional, additional guarantee, which is often accepted by banks and financial companies without particular problems.
For more information, please visit our section dedicated to loans for bad payers.
The speech we made earlier for bad payers could also apply to protesters: those who have suffered a protest can still access loans thanks to the signing of promissory notes.
A necessary distinction must be made between the cause that led to the protest.
If this cause is an unsuccessful promissory note, then the loan will also not be obtainable (since there have already been problems on that particular security), if instead the protest was triggered by problems on a check, then there may be some possibilities (large or small, it always depends on the bank or financial company to which it is addressed).
You may also be interested in having more information about protesting loans and protesting loans if you don’t have a paycheck.
Unemployed and without a paycheck
In essence, these are loans changed for both the self-employed and the unemployed. In both cases, in fact, the figure does not have any paychecks to provide for further loan guarantee.
In this case, the bill of exchange acts as a guarantee, considering that both the self-employed and those who do not have a job, can provide less “strong” guarantees than those of the employees, who, having the TFR and the paycheck available, they are somehow advantaged.
To find out more, please read our page on loans with bills of exchange without paycheck.