Money problems and tight sitting is a bad combination, especially since borrowing in these cases is not always possible.

In this article solutions in these unpleasant situations.

Money problems and tight sitting

With the economic crisis, more residents than ever have money problems. Losing a job or making fewer hours can cause payment delays and money problems. If you are red it can be very annoying that you just have to pay all bills and have to make certain expenses. Borrowing extra money can sometimes offer a solution in these situations. Unfortunately, many financial institutions keep people who have incurred payment arrears and therefore the financial status is often requested in advance from the Credit Registration Office. If you have incurred a negative BKR in the past years, this may mean that you are not eligible for a loan if you are cramped. In order to help many people financially, two solutions are possible.

Online loan for money problems and tight sitting

If the situation is not very serious and you just need a certain amount of money once, it may be interesting to look at the possibility for an online loan. Online loans are loans of small amounts that are quick and easy to close. There are far fewer conditions attached to these loans than regular loans, which makes them easy to close. Often also despite a BKR registration. So you can quickly borrow a small amount in these situations and tackle the money problems. You then have more time to get the money together and can still do the expenses you need to do at that moment.

To the loan provider in case of money problems and cramped down

In other, more serious situations, it is sometimes necessary to go to the loan provider. The loan provider has been created to provide a solution to residents in the event of money problems. If you would like help with structuring your income and spending pattern, want to take out a rehabilitation credit or want legal help with solving debts, you can contact the loan provider. The GKB employees are specialized in providing targeted help and an appointment is free of obligation and free of charge. If the situation is unclear, it might be wise to seek help in this way than to take out a new loan via the Internet. In the latter case, you sometimes cause more serious money problems. Temporary tight seating is not really an objection, but long-term money problems are. In addition, make sure that you tackle your money problems as quickly as possible, because waiting is often only worsening the situation. With the help of the GKB you are working quickly on a debt-free future!

Now more and more people use the Internet to request those loan services that are necessary for us all.

With the explosion of online accounts , and the adaptation of security services, today the internet is the preferred tool in requesting and managing loans. Through the internet, in fact, you can access financial services 24 hours a day, compare the various proposals and have all the information you need in real time, from the comfort of your home.

If before you need to make a reservation, or to go to an agency and present a series of documents just to get a quote about a loan , today you can compare all the offers in the market, practically in real time.

With the spread of online platforms, it is possible, by entering some personal data, to look for the financing proposal that best suits your needs in complete tranquility. In addition to saving time and money for travel and appointments, without counting the time taken away from their work, this type of financing also allows considerable savings. In fact, eliminating all those steps and allowing the banks themselves, to lighten up those expensive and complex structures, it is possible to obtain considerable savings, not negligible, especially given the current economic situation.

You can seek the most suitable financing, avoiding wasting time , discarding those financial products for which we do not meet the requirements. The loans that are most in demand on the Internet are small loans, the sale of the fifth, loans for the purchase of the car, and personal loans in general. In addition to saving money, with the stipulation of an online loan it is possible to keep it under control, via a PC or smartphone, and always see our debt situation in real time.

What you need to apply for an online loan

To request an estimate online , simply enter your name, date of birth, type of work and how long, your residence and personal data, the amount requested, the duration of the loan, the intended use of money and whether or not you want to take out insurance. In a few seconds we will have all the offers on the market available, usually in order of convenience. Among the many data among which to go to see, to understand how much is really convenient financing compared to another, the most important is the APR, ie the annual effective global rate.

With this data we can understand how much actually costs a given loan , being inclusive of both interest, and additional costs, such as opening the practice, management and periodic communications. To compare only interest rates, you can compare TAN values, nominal annual rate. It is also important to read all the documentation concerning the financing, and see if, for example, there are penalties in case of early repayment, or the possibility to re-discuss the terms of the loan in case of economic problems.

Online loans 

In the field of financing, it is usual to think of banks and financial institutions as providers of this type of services. Another option is to contact our company’s post offices . The Post Office, especially in recent years, have greatly differentiated their field of activity, ranging from traditional postal sector, to e-commerce, savings books, trading , financing.

Often, they are able to compete with banks, even if they still have limits with regard to the timing of the transactions carried out, and to the possibility of credit. The solidity of the institute, however, is a very high guarantee, chosen for this by many Italians.

The loans offered by our company are many and the offer is wide and varied, suitable for all needs. These range from five-year sales, to loans, debt consolidation loans, restructuring loans and car purchases. In particular, let’s see the flexible financing offered by the Post Office. To request flexible financing with our company, you need to be a BancoPosta postal account, or a postal savings account. You can request from € 3,000 to € 30,000, repayable from 12 to 108 months, at all the group’s post offices.

Flexible loans 

It is a personal loan that can be requested by all persons who have residency in Italy, and have an income as employees, self-employed or retired. The documentation to be submitted at the time of the request is a valid identity document, the tax code, and the documentation certifying your income, such as paychecks, income tax returns or pension slips.

If you hold a BancoPosta account , you are credited directly to the postal account, and the installments are paid by direct debit to the account. In the case of holding a postal savings book instead, a credit is made to the bank account of the applicant, and the payment of the installments is made by charging to the bank account itself. In this case, the maximum duration of the loan is 84 months.

In the case of holders of a postal account, the flexibility of funding lies in being able to skip an installment and to change it. When the loan is signed, a basic installment is decided, a high rate after which it is not possible to increase the amount of the installment, and a low rate after which the amount of the installment can not be lowered. The installment can be changed after six months from the start of the loan, and it is possible to change it every month. Obviously, when the installment amounts change, there will be an extension or a reduction in the duration of the loan.

The other possible option is to skip an installment , always after the first six months of the start of the loan, for a maximum of three times, postponing them at the end at no additional cost. In the case of holders of postal savings account with credit of the bank account loan, however, it is possible to activate the installment option only after the first 12 months, for a maximum of 5 total changes. While it is possible to jump to 5 installments starting from the sixth month of the loan, once a year, to be paid at the end of the same.

CONCLUSIONS

Try to be wary of those loans that are too advantageous, most of the time, in fact, have hidden costs, perhaps smeared in banking transactions necessary to pay installments.

An unpaid loan , of course, leads to major consequences for the debtor, but also for his guarantor.

Those who do not pay the installments of a loan punctually meet insolvency and sanctions by the credit institute. Paying the installments is a major guarantee that makes sure that everything goes well according to the law with a pre-established agreement, as appears to be a loan.

Do not pay a loan: what happens to the bank?

When a loan is requested, according to the stipulation of a contract and prior to the request, the various types of payment and the time to be used for repayment are agreed. In the event that a debt has not been paid, it is the bank that decides how to act on the basis of the associated problems.
The bank, for example, will decide whether to act alone for recovery or whether to rely on a debt collection agency. These agencies are committed to buying the bank’s debt at a lower price then leaving it covered and then returning from the old debtor to contract the amount to pay to extinguish the debt now no longer belonging to the bank but to the agency.
Returning to the unpaid loan and the relationship between bank and client, it will be the bank itself that will try to solicit the debtor through warning letters and other methods. In the event that the customer continues not to pay the loan or that the reminders are not taken into account by the customer, you will risk being entered and reported to the Crif as a bad payer. This means having a negative profile for some time without the possibility of requesting a loan again. In fact, at the time when you are reported as bad payers, banks and lenders will take care not to entrust you with a new loan as they do not have an effective guarantee that you can pay it to the end. There are also cases in which a bank gives permission for a loan to a bad payer, but they are very rare and sporadic cases since it would otherwise end up losing a lot of money.

Do not pay a personal loan: the penalty

In addition to the risk of being reported and being identified with a negative profile, a penalty is also added to the total sum of the debt to be repaid. Not only that, therefore, the debtor will have to collect the pre-established amount, but he will also have to pay huge interest that accrues with the payment delay.
If all this is not enough to incite the debtor to settle the sum established, the bank will decide to rely on a court for a lawsuit against the insolvent. At that point, the foreclosures of the client’s assets will arise, be they mobile or immobile.

I can not pay a loan: the assignment of the fifth

Another way to ensure that the capital is returned to the lender is the debit of the installments directly on the salary of the debtor, assuming that he has one: we see the solution that is called transfer of the fifth.

The sale of the fifth is the most used solution for unpaid loans . In this case, it provides for a payment of 1/5 of the total amount from the pay slip that is 20% of the salary, without counting the additional deductions in this regard. This amount may increase if the debtor is a salaried employee: in this case, there will be a deduction on the salary of 2/5. In this regard, we are talking about the sale of double-fifths.
Through this type of repayment, the holder of the loan is free to request another loan because the repayment is no longer direct, but is entrusted to the employer. The employer becomes the direct debtor and then proceeds to pay the debt, while the worker will see his salary decrease to cope with the debt.
Not only the workers, but also the pensioners now have the possibility to request or reimburse the loan through the assignment of the fifth. In the case of retirees, however, the sum will be deducted from the monthly pension and the maximum age to apply for a loan will generally be 85 years or, in any case, the applicant must not exceed the age of 90.

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Unpaid loans: insurance

In order to avoid further difficulties, the finance companies prefer to take out a life or work insurance provided by law to protect themselves from possible insolvency by the debtors. If the debtor’s employment position is at risk, the insurance provides for a recoupment on the debtor taking into account the TFR so as not to cause difficulties for the lender. The Severance Pay is deposited by the company up to the total fulfillment of the reimbursement therefore not available to the customer. Unfortunately, insurance is an advantage for the company and not for the debtor. In any case, in the event of death, no recourse will be applied which will affect the heirs.

Early repayment of loans or how to pay off loans in advance .Why pay off a loan in full or in part?

This chapter is dedicated to the extinction of loans but not to any extinction, but rather to early extinction . First of all, there is a difference between extinguishing a loan and other types of loans such as a mortgage, but it is our duty, to stay on the topic, to deal only with the loan termination methods, postponing the other types of extinction to other locations. Therefore, the early or partial repayment of a loan is required by law and with this, no bank or financial institution can deny it. In any case, if the standard contract form of adhesion establishes the negation and / or the renunciation of the right to extinguish in advance these are not opposed and the faculty to extinguish the loan in advance or partially is totally unaffected . So, how to pay off a loan in advance ? The early termination procedure varies depending on the institution that financed you, but in substance it is identical for all institutions. In some cases there is no formalities and just a verbal request with which you simply ask to pay off the loan in advance, in other cases they do fill out an early repayment form that can be both paper and computer via the web. Whatever the means, the end remains the same: to obtain, in writing, the analytical accounting of the amount necessary to extinguish the loan. To facilitate this task or to have a fairly precise idea of ​​the early repayment charges we have prepared a series of calculators that will facilitate you in this sense which can be reached through the links at the end of this article. The question we ask ourselves is: is it convenient and when (with the “d”) to pay off a loan ? The answer is articulated and deserves a premise: to extinguish the loans having paid all and all installments is the most physiological way (certainly for banks) to conclude the loan because the physiological conclusion represents the maximum income for the lender. In fact, the latter has all the interest for the debtor to pay up to the last installment and, therefore, the early repayment constitutes a sort of “loss of earnings” for those who provided the loan. Thanks to this motivation, the “notorious” depreciation is applied to the French which involves an exaggerated load of interest expense during the start of the payment, period, this, where the probabilities of extinction are very rare because the debtor is short of liquidity ( otherwise he did not ask for the loan!). While, the interest is almost negligible towards the end of the repayment as is reflected in the amortization of loan installments .
What does this mean? It is true that early extinction, even partial (but it is better total), agrees , but it is relative convenience, that is the maximum savings if the extinction intervenes in the initial moment of financing, vice versa, extinguish in the end brings very few benefits because the most of the interest has already been paid and the installments are mainly made up of the capital. From this we can establish an assumption. The advantage of the partial or total early repayment that is inversely proportional to the past repayment period: the sooner one is extinguished the more you save; farther away, the saving resulting from the extinction is extinguished. Indeed, the extinction made in the last installments is practically useless . For the rest there is no distinction between early repayment inpdap rather than a personal loan or not. To conclude, if you have the possibility of extinguishing a loan in advance, do so as soon as possible in order to take advantage of the maximum convenience of the early repayment itself.

What is a mortgage loan?

The Mortgage Loan Annuity , is a form of personal loan and should not be confused with the mortgage loan , it is a small revolution in the cultural, rather than financial, thanks to the fact that you do not have to return the money borrowed ( at least as long as you are alive).

The mortgage annuity loan in fact, is very used in the Anglo-Saxon countries, and is designed for those over the age of 60, is a homeowner, but does not have a very high pension, or still wants to continue living and having fun even after this age , and therefore needs liquidity .

Arrived at a certain age, then, you can go to the bank and get a loan by guaranteeing one of the real estate (a house).

What is the Mortgage Life Loan :

It is a particular type of loan without installments , which consists in having money from the bank or financier and giving in exchange a guarantee on a property owned, that is a house, but no more than one.

Who is entitled to a Mortgage Life Loan :

All homeowners over the age of 60, the house.

Of course, it must not have a previous mortgage and must be ALL of the debtor’s property.

The loan amount can be from 15% to 60% of the value of the property.

The older you are and close to death, the more the bank will be willing to lend money.

How to reimburse a Mortgage Life Loan:

Here is the innovative and revolutionary part of this new financial instrument :

The debtor will not have to return even 1 euro .

On the death of the debtor, the heirs can decide whether to take the house and pay off the loan, or if you put the house in the market, sell it then take part of the value of the inherited house sold, the other part goes to repay the loan made by dead relative.

The interest rate can be stipulated in various ways: fixed, variable, etc. The new rules say that these interests can either be paid together at the time of the contractor’s death, or they can be paid gradually, so as not to pay on the whole of the capitalization.

Taxes to be paid:

All the taxes of the house, however, must be paid by the owner, and we are talking about IMU, TARI, Tasi etcetera.

This new form of loan will have tax exemptions : exemption from stamp duty, register, mortgage and land tax and taxes on government concessions, thanks to the payment of a substitute tax (0.25% of the total amount of subsidized loans disbursed 2% if not referred to first home and related appurtenances).

Should you take a mortgage loan, or not?

First of all, we need to distinguish between 2 types of people : those who have close relatives to whom they hold (for example children, grandchildren, etc.) and those who do not have close relatives, or have them but do not have relations with them or even ignore them. Why not take advantage of your own good, using them to the end? Once those who had no heirs left the property to the Church, this is one of the major reasons why the Catholic Church finds itself with enormous real estate. With this loan on the house, on the other hand, you can have some nice money that can help Our poor pension to make us live more dignified. If we have a property that is worth 100 thousand euros, and we are 60 years old, we could have at least 15 thousand euros of loan, which are not so many, but it is a liquidity available, without having to worry about giving it back, at least until we will not be alive.

Personal loans without paychecks are funds specifically designed for those who do not have a demonstrable salary and do not have any income guarantee to offer to the lenders.

Although it seems impossible, the banks provide this type of personal loans even if with some difficulty. Obviously this is an opportunity reserved for those who need limited amounts , for example up to less than € 5,000, a figure that allows banks not to expose themselves too much but to meet certain customer requests. However, if the sum to be requested is higher, even if the personal loan without a pay slip is obtainable, but alternative guarantees are needed.

To clarify the topic and allow everyone to access the world of credit, we wanted to make this guide. 

Personal loan without paychecks: who can request it?

Personal loans without paychecks can be requested by housewives, unemployed, students, illegal workers, self-employed workers, young entrepreneurs or even by employees who have an almost fully paid salary. For all these categories, the financing can be obtained also for amounts exceeding 5000 euro thanks to alternative guarantees that may consist of a property on which a mortgage, a lease or a monthly fixed income can be lit, or a guarantor that insures the payment of installments in case of insolvency .

They are called, in technical jargon, ancillary or alternative guarantees . Obviously the bank reserves the right to evaluate these “alternative guarantees” and it is not said that it always approves the financing. Precisely for this reason it is very important to understand the mechanisms that regulate this type of loans.

When a credit institution makes a sum of money, it is interested in only one thing: to get it back with interest. The bank, said in plain words, does not affect our house or any other property we give as collateral, because it would be a problem in terms of management and costs. This is why the paycheck is the tool preferred by lenders as a guarantee of a loan.

It is no coincidence that when a property is secured as a guarantee, the credit institution’s valuation always tends to devalue its value. If I need 100 thousand euros I will have to give as security a building that is worth at least 140 thousand, as well as proving to be able to pay the agreed monthly installments.

Loans up to 5000 euros: alternative guarantees

In the event that the applicant does not possess any of the aforementioned guarantees, a personal loan can be granted without a bill payable . This type of loan provides for the payment of installments with bills that, if not paid on maturity, give the bank the right to execute even in the event of failure to pay a single installment. Another solution in case of lack of alternative guarantees is the loan without a paycheck with guarantee pledge: it is in fact possible to put as a pledge valuable goods, such as jewels or precious stones, and use them as collateral for the loan without a paycheck and immediately obtain liquidity even in the absence of income.

In order for the bank to accept this type of loan, it must be considered that the value of the asset that is intended as a guarantee must be able to cover the value of the financed capital. If I have an asset worth 10 thousand euros and ask for a 15 thousand euro loan, no credit institution will give me confidence. Things change if I ask 5 thousand euros giving a guarantee of 10 thousand good.

As we said, in fact, the ultimate goal of the banks and financial institutions is to return as quickly as possible the money paid and, of course, to see interest paid. We must not forget, therefore, that the best form of ancillary guarantee is that represented by the guarantor. If we have a guarantor with a good income (the pension one, for example, is perfect) we can actually get a loan without a paycheck even for large amounts.

How to find the best loan without collateral

Before concluding our guide on the subject we want to give some simple advice to quickly find the best financing . It should be said, for the avoidance of doubt, that the best loan is the loan that best suits your needs. It is obvious that if I have a payroll of 5 thousand euros a month and ask for a loan of 10 thousand euros I will succeed in obtaining an interest rate totally different from the artisan with a minimum income.

That said let’s see how to find the best product quickly and easily. The basic advice is to use the loan comparators that are on the internet. These services, totally free, allow you to compare dozens of loans in a few minutes and to choose the one that has the best value for money. Once you have identified the product you can proceed with the request with a few simple clicks.

Beyond payroll loans, in fact, a recent survey has verified that in the last 12 months the number of loans provided directly via internet has increased by 12% on an annual basis. An absolutely not negligible data that allows us to understand how much Italians appreciate the web for the ease of use even when it comes to complex banking products such as personal loans.