The personal installment loans is a form of financing provided to private individuals by a bank or a financial institution, which allows a customer to obtain a sum of money upon commitment to repay it in installments within a predetermined period.
Personal installment loans fall into the category of “non-finalized” loans, ie they are not directly linked to a particular purchase of a product or service and include the application of fixed or variable interest and the costs / charges indicated in the APR as consideration
If you are planning to apply for a installment loan
It would also be good to evaluate the possible debt and its repercussions within the monthly family budget, also because you do not forget to consider the monthly payment to be supported and the total cost of the loan. Is it a sustainable financial commitment net of rent, bills, miscellaneous expenses already considered monthly?
A loan can normally be requested by anyone between the ages of 18 and 70 and is usually granted to those who demonstrate a “repayment ability” that takes into account all the commitments and monthly payments mentioned earlier. . The ability to repay the amount paid is usually demonstrated by showing the employee’s pay slip, the tax return for the self-employed and the pension slip in the case of pensioners.
In the event that you cannot prove your eligibility to repay the loan with your pay slip or tax return, a personal guarantee of a third party can be required to commit to pay in the event of the contractor’s default. The third party must also provide documentation to support its financial soundness and therefore its repayment capacity .
Evaluate different offers
Anyone who intends to take out a loan should carefully evaluate different offers, especially from local agencies, to be able to choose the most convenient one: for example, with regard to loans and financing in the Pesaro, Riccione and Rimini area, we recommend contact specialized agencies such as Finanziamenti Semplici , a finance company with SIGLA srl mandate , for the assignment of salary, salary and pension.
Non-fulfillment of the payment
In case of delay or even non-fulfillment in the payment of one or more installments the pre-established and due interests are increased with the application of a default (further interest) and the loan applicant is reported to the credit protection bodies (central credit, databases). In this way the credit reputation of the customer undergoes a negative change and may compromise any future initiatives.