Loans changed at home – Loan changed
Loans changed at home: what they are and how they work
Loans exchanged at home provide for a repayment plan established by the expiry of each individual bill of exchange. The amount disbursed generally reaches a maximum of 30,000 USD. It is sent directly to the home of those who request it by means of a check.
As far as physical bills of exchange are concerned, these, once signed, remain with the bank, financial company or person who granted the loan. These are transferred to the debtor when he settles the bill of exchange.
The installments, which can be repaid in 10 years, have a fixed maturity which can be: monthly, quarterly or half-yearly. The amount cannot be changed during the financing as each installment must correspond exactly to the amount shown on the bill of exchange.
The payment of the promissory note must be made directly at the bank counter, not by means of postal slips, as is the case for other forms of financing.
The interest rate applied to the promissory note is fixed but higher than normal personal loans. The issue of high rates is closely related to this type of loan. Today, those who are forced to take the promised loan route do so because they have no other alternative. It follows that the lender acts with few competitors and therefore tends to apply rather high interest rates.
How fast is the loan disbursement?
Surely the home loan is fast! Those who provide these loans are structured to act quickly because, generally, those who request them have urgent liquidity.
Given that we are talking about money, it should be specified that the loan is expedited only if you have all the guarantees required. No credit institution hurries to provide any loan if the guarantees offered are more than certain.
Another way to quickly get the loan changed at home is to apply for it online. If you find a financial company that offers these services, the online application generally allows for quick times for the approval and disbursement of the loan.
It must be said, however, that the act of signing the bills of exchange requires the physical presence of the person requesting the loan. This situation is inevitable and therefore it must be taken into account.
Loans changed at home: how to apply for them?
The institutions that grant home-based loans are mostly financial companies that rely on banks for collection. However, not all financial companies offer this service, so it is good to inquire directly with them.
To apply for a loan with bills of exchange, no special guarantees are required, unless they are high numbers. In any case, given that it is a security that has enforceable value, it is necessary to be in possession of one or more attachable assets. If there are no assets to attack, the bill of exchange has no reason to exist and therefore the loan – usually – is not granted.
When there are no attachable assets, the provider usually requires alternative guarantees. For example, you can ask for the TFR (severance indemnity) exclusivity and life insurance. The applicant must therefore demonstrate that he has the necessary requirements, but he must not justify the request which can also be made with a single signature. The investigation costs, if any, are very low.
Of course if you have a job and you have a sum of TFR card, better try to get a loan with a transfer of the fifth. In fact, this type of loan is also granted to bad payers and, given the low risks for the lending institution, the interest rates are lower.
If the necessary guarantees are provided, the loan is paid out fairly quickly. In fact, those who provide these loans are clear what to check before granting them. Once the provider has been contacted, he will himself request the necessary documentation to demonstrate both the solvency and the collectible assets in the event of outstanding.
To be realistic, it must be said that financial companies that make loans with bills have become very rare! To find one you need a painstaking search on the web by sifting the various adverts that respond to the search key for changed loans. When evaluating the results of the research, care must be taken to check that these are really the loans in question. This is because search results often show offers that offer personal loans.
Loans changed at home: who requests them and why?
Loans changed at home can be requested by anyone! Generally, however, they are the prerogative of all those who do not have the opportunity to access normal types of financing. The most common categories are for example bad payers reported to CRIF databases. Then there are those who have protested or those who already have existing loans and their income is not enough to start another loan.
All these categories are normally unable to access normal financing, the reason for obtaining the necessary liquidity is to use bills of exchange.
Of course, in order to be able to access the loan with a loan, it is necessary to demonstrate that you are able to pay the installments. It is therefore necessary first of all to have seizable assets so that the institution can forcibly recover the residual credit in the event of outstanding. Therefore, once the basic guarantee requirement has been fulfilled, it is necessary to have demonstrable income such as a permanent job as an employee. Other types of revenue can also be assessed, but this can only be assessed by the institution providing the loan.
Warning! Whoever signs the bills must have in mind that these are in all respects executive titles ! The institution which provides the loan can therefore proceed with the attachment even for the non-payment of a single installment.
Who pays out loans
Certainly today private loans are still lent out. Well regulated by regulations, citizens in Italy can lend their money and use bills of exchange as a means of collection.
To read: Loans with bills between private individuals
On paper, the changed loans are disbursed by banks, financial companies, in recent years however, things have changed a lot. Loans with promissory notes are seen as financing opportunities in a personal loan manner.
To give concrete information on where to look and to whom to apply for a loan, we called several banks and financial companies. After a few phone calls, it was immediately evident that banks and financial institutions are not interested in providing these types of loans. They are now a legacy of the past.
Today we speak only of personal loans or targeted loans, those known as consumer credit. If you do not meet the requirements to obtain them, the only concrete and viable way is to find a guarantor that enjoys a solid and good reputation.
So: why are there so many adverts online with offers on loans with bills ? The answer is very simple, and this is: precisely because many like you have done this type of research. Consequently, in order to intercept possible new customers in search of a loan, the operators of the sector take advantage of the research “who provides loans changed online”. Maybe, after an online or telephone contact, it turns out that there are the requirements to grant a personal loan or a transfer of the fifth.
A contact is always an opportunity to bring supply and demand together and who sells money leaves nothing to chance.
When are bills of exchange really used?
Do home loan loans still exist? Of course yes, they still exist and in this period of crisis they have come back very much in “vogue”, but these are not used as an alternative to personal loans ! Bills of exchange are among those forms of credit which are used in very particular cases. I will give you some examples:
You have a business and you need a machine but you don’t want or can’t ask for a loan. The supplier (at his own risk), may decide to sell the machinery by accepting one or more bills of exchange as a “promissory note” guarantee.
Another example: you want to buy a used car from a private individual or even from a dealership, but at the moment there is no liquidity. Suppose we are talking about 2000/3000 USD, here is that the bill of exchange can be the ideal financial instrument. In this case – especially if you are on the list of bad payers – you can remedy the request for a personal loan that would probably be denied.
Applying for and getting a loan with a loan is not as simple as you might think. Solid guarantees are needed, without which those who provide these types of loans will hardly accept to give you their money.
It must be said that bills of exchange are not a suitable tool to replace personal financing. Bills of exchange are enforceable securities: in most cases they are used as collateral for the payment of a debt previously contracted and subsequently not honored.