Loans with bills of exchange are often heard, a solution to accessing credit which, after several years of falling requests, is catching up. But how does it work and what does it offer? Let’s find out together.
Changed loan : short product guide
The loan with bills of exchange, as the definition itself says, is a credit access solution that is based on the signature of a bill of exchange, an executive title that is configured as an effective promise of payment by the customer.
The bill of exchange also has a forced value. What is meant by this term? That in the event of insolvency, the reality that issued it has the possibility to immediately retaliate on the assets of the debtor, without going through the request for authorization from the Judge.
Loans with bills: information on the rate and duration
The loan with bills is characterized by a fixed rate for the entire duration of the repayment plan, which can go up to 120 months. The interest rate is slightly higher than that applied to other products.
For what reason? For the simple fact that the loan changed is also accessible by those who do not have a paycheck or are registered with credit bureau as a bad payer or protested. These peculiarities make the loan changed a risk product and lead credit institutions to seek greater protection.
Also to be remembered is the cost that individual companies must pay to issue bills and which is charged on the rate.
Who can apply for a loan changed?
The loan with bills of exchange can be requested both by subjects in temporary unemployment and by freelancers and newly hired employees.
In the first case, if you have an employee work history behind you, you can limit the severance pay. For freelancers, however, it is necessary to present an active life policy for at least two years.
Employees newly hired who want to access the promised loan must instead consider the need to present a third party guarantor.
How much can you ask for with a loan changed?
The loan with bills allows you to access a maximum amount between $ 50,000 / 60,000. Since it is a personal loan it is good to remember that the customer is not required to present a proof of the expenses made with the amount received.
The benefits of this credit access solution also include speed. After the approval of the request, in fact, the customer is granted the loan within a period of time equal to about 48 hours.
We conclude by specifying that a valid alternative to the loan changed in the absence of a paycheck and in the case of reports in credit bureau is the credit on pawn, which presupposes only the commitment of a precious asset and the need to repay a certain number of installments to proceed later to the redemption of the good itself.