When we talk about loans with promissory notes we often enter the field of financing for bad payers. Bills of exchange are usually requested as collateral for loans exclusively for self-employed workers who, for whatever reason, have been reported as bad payers in the CRIF register.
Why only for bad self-employed payers?
From the moment you are self-employed, you are usually subject to greater controls by banks and financial companies, compared to employees, in relation to your credit history, the economic performance of your company and much more. Unfortunately, lacking the guarantee provided by the salary and the TFR (the famous TFR ), banks and financial companies have to go a little deeper into the economic life of those who apply for a loan.
This brings enormous difficulties in obtaining new funding for those who are self-employed and have been reported as bad payers.
Additional guarantees are required, such as a guarantee or the signing of bills of exchange, executive securities which, in the absence of the correct and timely repayment of the monthly installments, can be put into execution by the credit institution with the aim of getting back the sums lent.
How can employees, on the other hand, do it?
For those who are an employee, on the other hand, the loan for bad payers is granted with the method of transferring one-fifth of the salary, exactly the same that is given to those who have never had financial problems in the past.
The fundamental point is that employed workers can have the advantage of severance pay and the salary to be provided as a guarantee, therefore in the financing sector, they have an advantage over the self-employed.
Loans changed at home
Home loan loans are also included in the promissory note, a type of loan in which the amount of money loaned is not credited to a bank or postal account, but is sent to the applicant’s home with a check that is not transferable to him. headed. At this point, the debtor will take care of proceeding to cash the check itself.
Characteristics of loans with bills for self-employed
The main characteristic of all loans with bills is the interest rate, usually higher than other personal loans and compared to loans to employees. Therefore, if you are looking for loans with changeable loans, this rate talk is something to keep in mind because it could affect, and not a little, on the amount of the monthly installment that you will have to pay.
Similarly to the interest rate, loans exchanged for self-employed individuals may also have higher accessory costs compared to other loans, all in consideration of the greater risk perceived by banks and other financial institutions.
Interest rate and incidental costs form the APR, the interest rate used in the comparison between the various loans and loans.
When should I choose a loan guaranteed by bills for the self-employed?
The final choice always depends on each person, but in general, we say that if you can wait and take money in an alternative way, perhaps by having them given by a relative or friend, it could undoubtedly be a cheaper and more convenient solution since you would go to save on interest expense.
If, on the other hand, you have no other possible sources and you have an extreme need for money, the changed loans may be the only solution.