How to have payday loans also to unemployed people
In recent years, due to the economic crisis, banks and financial companies have tightened their grip on the provision of payday loans. In order to reduce the risk of insolvency, the institutions have decided to apply more stringent requirements, also as regards payday loans to the unemployed.
In other words, getting loans without a paycheck is more difficult now than it was in the past. Those who do not have a paycheck, such as students, housewives and the unemployed, can obtain money using alternative guarantees.
When you don’t have a job and need to access credit, you can apply for payday loans to unemployed people.
Loans with guarantor
But how do they work? Loans to unemployed people include several products, among which loans with guarantors stand out. Products designed for those who can count on a person willing to take on the risk of the loan.
However, the figure of the guarantor represents only an accessory guarantee for the bank. In fact, in order to access credit, the applicant must still have an income. Income which in the case of the unemployed is represented by the unemployment benefit.
We would like to remind you that the guarantor cannot permanently replace the borrower. His intervention is foreseen only in exceptional cases. In other words, in order for the guarantor to intervene, covering the payment of the installment, an extraordinary event must occur. Event that must be of such gravity as to make it impossible for the beneficiary to cope with the payment of one or more installments.
Loans for unemployed with promissory notes 2017
Among the various loan solutions to unemployed we also find the loans changed. In this case the name already says a lot and reminds us that these are products that are based on the payment of bills by the borrower.
Payment deadlines are established at the time of signing the contract and, in the event of insolvency, the credit institution has the right to take recourse to the beneficiary’s movable and immovable property.
Requesting payday loans from the unemployed means focusing on changed loans and also remembering other advantages. For example, accessibility also to those who have had credit problems such as protests or missed payments.
Loans exchanged are non-finalized loans, which is why it is not necessary to present a proof of the expenses made with the amount received. Not to forget is the fact that these are loans with a higher rate than traditional loans (this happens because the credit reality needs to cover the greater risk of the operation).
Loan between individuals without guarantees
When it comes to payday loans to unemployed, it is also necessary to talk about loans between individuals. The unemployed who cannot rely on the presence of a guarantor and do not have owned property to present as collateral for the loan can still try with loans between private individuals.
These are loans that are granted from one private entity to another. In other words, loans between private individuals are nothing more than loans between relatives or friends. A practice widespread for years in our country, but which is always good to formalize.
The purpose of writing loans between individuals is to protect the two sides. To do this you need to sign a private agreement. Document that can be registered directly to the Revenue Agency and for which the presence of a notary is not required.
Since these are loans between private individuals, the two parties agree on the guarantees to be presented, as well as on the repayment terms. As a result, loans between individuals may also not require any collateral to protect the lender.