Fast Loans Without Guarantees: The new frontier of credit
Access to credit is a basic element of the economy of each state and of the financial system. Thanks to it, it will be possible to buy something even if the economic value is not directly available. Just take the simple example of a car. The modern system is based on this reality.
Being able to apply for a loan from a bank or a finance company is a way to obtain a product with a value greater than our possibilities. Furthermore, in this historical moment of economic slowdown, it is very useful in order to have immediate economic availability that can be returned in small installments.
However, when money is requested, a series of guarantees must be provided. In recent times we hear a lot about fast loans without guarantees. But is it a possible reality? It is important at this point to consider the words carefully.
A loan requires a creditor to give money to a person who becomes a debtor. The money will be returned after a set period of time with the payment of installments with the addition of a cost. Obviously the person offering the money does so knowing that he will receive it again. This is why a series of guarantees are requested.
This term refers to the ability of the debtor to demonstrate that he can return the requested sum of money. Until a few years ago the main guarantee was that of the paycheck.
Anyone who had a contract that included a paid salary was able to access credit easily enough. Those who did not have this availability could not have any form of financing.
The evolution of the labor market has led to the reduction of guarantees for new types of reality which in any case provide an income which must however be demonstrated. Fast loans are therefore created without guarantees, and therefore without the request for a paycheck.
What it consists of: The particularities of Fast Loans without Guarantees
Fast unsecured loans are part of the loan and financing category. They are characterized by a series of aspects that make them more easily accessible to everyone:
- amounts: one of the first characteristics of this type of loan is that concerning the amounts. Given the absence of the ordinary guarantees required, the amount is many times limited. The sums that can be requested are up to a maximum of $ 3000 or $ 5000. It is rare for this sum to be exceeded, even if in some cases higher income can be achieved if an income is demonstrated;
- disbursement times: the element that characterizes all fast loans is that of being a credit that is made available in a very short time. Almost always, if the documentation is complete and there are no conditions for which the loan should not be made, the disbursement times are around 24 or 48 hours;
- installments: the number of installments and the application of interest rates varies according to the contract that is signed. Many times these loans are outlined per person since the applicant’s different conditions must be verified;
- types: fast loans without collateral can be of different types. We often hear about personal loans, loans guaranteed by public bodies, promoted or for self-employed workers. The so-called loans linked to prepaid credit cards for those who have them have also recently developed;
- documents: to apply for the loan, it will be necessary to present yourself with a valid identity document and have residence in Italy, tax code or health card. The investigator is simplified compared to that of a banking and financial institution, thus making waiting times very short;
- guarantees: even if the loans are defined without guarantees, the exact terminology would be without traditional guarantees. So you are not asked for an employment contract or a paycheck, but in any case it will take a form of income to prove that you can return the amount that has been requested. The basis of the loan is this in the end. No institute or private person will deliver money if in return it does not receive a form of insurance that this amount will be returned on the basis of the contract signed;
- conditions of the subject: fast and unsecured loans are not always granted. Even if there are conditions for returning the money, the history of the subject must also be considered. So if the applicant has the protested signature, or is considered a bad payer, the possibility of accessing a form of loan even without a guarantee will be more difficult. The advantage of loans that go beyond ordinary loans is that even for bad payers, there will be the possibility of receiving loans without a paycheck if the actual repayment capacity is demonstrated.
Who they are for: The categories that access fast loans without guarantees
Loans without collateral therefore provide different forms of demonstration of the repayment than the paycheck. For this reason they appeal to a wider customer audience with the possibility of making credit move:
- students: loans are provided for those who are completing their studies and need liquidity for both the payment of university installments and for daily payments;
- self-employed: for workers who can demonstrate income even if they do not have an employment contract and paycheck or collateral, access to credit is possible thanks to the presentation of the only one;
- housewives: it will be possible to have access to credit even to subjects who do not have fixed income, but in any case the possibility to demonstrate that they can repay the loan;
- unemployed: fast unsecured loans for them can also be a good access to credit;
- employees: in the event that the paycheck is already committed to a loan or loan and ordinary channels do not allow you to receive other liquidity, it will be possible to make a quick loan.
How they work: The characteristics of Quick Loans
The different guarantees
As specified, fast and unsecured loans are disbursed in a short time and refer to a category of subjects who do not have a paycheck or a contract that can demonstrate regular income.
Therefore demonstrate your income capacity through tax documentation as it can be the only one or the cud can be an excellent access to credit.
In the event that the income is not demonstrable, you can in any case access credit with a series of different guarantees. Sometimes it is possible to request the guarantee of a subject to provide a loan, in other cases instead it is possible to guarantee valuables that can be sold and cover the amount that has been disbursed.
The form of promissory note is often used, therefore with the signature of a promissory note. The better a person’s ability to demonstrate their ability to pay back the loan, the easier the access to credit will be.
What to do to get them: The request
The web is a very useful tool when you want to receive a fast loan with no guarantee. Just search on the main engines and select the different offers. in a short time once you have completed the data sheets that will open, you will be able to immediately find your access to credit. to conclude the loan it will be necessary to send the documents online.