By the way, if you ended up here, you will already know what the financing with a bill of exchange is . Obviously, as in other cases, even in this circumstance the bank or trust company will want to obtain guarantees , in order to grant you credit.
Financing with bill for bad payers: how to request it
Generally for those registered with the Bank of Italy’s central credit institution, being able to receive credit from financial institutions is almost impossible. Fortunately, the solution is thanks to financing with bills of exchange.
Before being able to request it, you have to think that this type of financing (whether they are small loans or large ones) requires a precise procedure .
Loan changed for a bad paying employee
In the event that you are an employee , despite being a bad payer you can easily proceed with the loan. This is because you receive a working income and therefore how you can prove it with a pay slip, or possibly with the TFR .
The situation becomes more complex and your chances diminish. To begin with you must have a guarantee between the following:
- Owner of a property to mortgage it;
- The presence of a guarantor (the so-called guarantee);
Without one of these two elements, the bank or institution in question will almost certainly refuse you the loan . So try to fix it somehow if you want to get credit.
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Non-payment of the loan with bill of exchange
If you read the contract of the bank to which you are addressing, you will notice that among the conditions the immediate attachment of the bill is indicated, in the event that you do not immediately reimburse the installment due to the financial company.
So pay close attention and make two accounts before proceeding to the budget for the loan. Also because subsequently to heal the debt, especially for you who are a bad payer, would not be so simple.
The essential elements in a loan contract settled
Before signing a contract, the first thing to do is read the conditions . Then check that these elements are underlined:
- The repayment method;
- The maximum deadline allowed for installments;
- The way in which the loan can be obtained;
- The various interest rates: TAN, APR, TEG;
- Extra costs (known as charges) outside the calculation of the TEG and APR;
- What are the guarantees required;
- Possible cost, with reference to the penalty if the loan is terminated in advance;
- Cost of default due to insolvency;
As you may have noticed, the loan with bill of exchange provides for the early repayment of the loan . Before proceeding, however, read the penalty you have to pay.
Generally, for those who enter into a loan agreement, they will be reimbursed from a minimum of 18 months to a maximum of 72 months.