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Quickly loaned loans without collateral (with bills of exchange): some viable solutions

They are an answer for those who have an income, need liquidity and have received waste from the banks: fast-moving, unsecured loans.

What are loan changes?

What are loan changes?

They are unfinished personal loans in which the installments are paid with the immediate issue of as many bills as there are installments to pay.
These are loans that usually have a fixed rate and a constant installment.

Example:
Financial : FinFlorence
Product : loan remittance
TAN Fixed : 14.63%
Withdrawn amount : $ 5,000
Destination : any
Monthly installment : $ 200 x 30 months

They generally have rates that are on average higher than personal loans, but never too high – always below the wear limit, of course.
The applicant is not asked for any details on how he will spend the money or on the reasons why he is borrowing it.
It is possible to repay a loan at any time of the contract, repaying the amount due.

Why are loans redeemed quickly?

Why are loans redeemed quickly?

It takes a few days to evaluate a loan request, if all the required documentation has been submitted.
The finance company immediately begins an inquiry into the applicant to assess whether he is, reasonably, able to repay the debt. In particular, check that the debtor:

  • have an income and, if it has, the loan can be disbursed even without additional guarantees;
  • have not already protested – in these cases it is very rare that someone decides to lend;
  • is not already too indebted to other companies and financial institutions.

There are no fixed rules, however, each financial company independently chooses whether to lend and its judgment is final.

What are the requirements to apply for loans with bills of exchange?

Loans are issued to any category of employee, whether employed or self-employed, and without additional guarantees if the applicant proves to have a reliable income or an adequate amount of provisioned TFR.

Loans of this kind are often granted to bad payers, or subjects who have been denied by other institutions because there are delinquencies or delays in their history.
It happens, in some cases and depending on the subject’s overall indebtedness, that a life insurance policy is requested on the debtor, which can, then give the financial guarantee to obtain reimbursement even in the extreme case of death of the debtor.

What amounts can be obtained?

The financial companies that grant these loans generally have different rules and products.
Usually, you can get between $ 2,500 and $ 30,000, to be repaid over a period of 1 to 10 years.
The agreed amount is normally paid only after the debtor delivers the signed bills.

What are bills of exchange?

 

The promissory note, also called the promissory note, is a real credit title and its official name is promissory note.
They are paper titles, slightly larger than a check. They are bought in bars and shops that sell stamps.
They are basically promises of payment where:

– a subject – who is the debtor
– promises
– to another person – which is the financial company
– to pay
– on an agreed date
– a defined amount of money
– by debit to a pre-established current account.

The title must be signed by hand by the debtor.
Each bill of exchange must be carefully completed, signed and stamped: the back of the promissory note, in fact, must have stamped marks attached for a total of 11 per thousand of the value of the payment promise.
For example, a promissory note with a promise to repay $ 200 must have revenue stamps totaling $ 2.2 for it to be considered valid.

From the previous example:
Withdrawn amount : $ 5,000
Monthly installment : $ 200 x 30 months
Cost for stamps : 2.2 x 30 = $ 66

Without revenue stamps, the bill is void.
The financial beneficiary, obviously, will not accept bills of exchange if they are not correctly stamped.

How does payment through bills of exchange work?

How does payment through bills of exchange work?

All bills of exchange signed and stamped are in the hands of the financial company which, in the days preceding the expiry of each one, delivers them to its bank with the request to credit the agreed amount.

The financial bank sends the bill to the debtor’s bank requesting payment. The bank that receives it normally notifies the debtor that a bill of exchange has arrived to be paid, but does not have to request authorization to charge it: the security is already enforceable and the bank is required to withdraw the amount due within the defined time.

If the current account has sufficient funds for the charge, everything is settled without problems. If, however, the account does not have sufficient capacity, the debtor is protested.
The financial company that does not receive the amount due to it can, in fact, start the protest and attachment procedure.

For this reason, if a debtor fears that he does not have sufficient funds to pay an expiring bill, he must make contact with the financial company and explain the problem before the protest starts.
It can, for example, agree on another payment method or issue a new bill of exchange with a future expiry – this option will cause an increase in interest.

Who do you need fast loans without guarantees?

Who do you need fast loans without guarantees?

Most banks, credit institutions and financial companies do not accept bills as a tool to repay all loan installments.
There are, in fact, some practical aspects connected with the management of promissory notes that not all subjects are ready to accept: storage, bank delivery, replacement, etc.
Here are the references of institutions that offer loans for exchange: it is advisable to check availability directly with the subjects.