The first thing you need to do
When you need a loan, large or small, the first thing you think about is to ask a bank or a financial one. Very often, however, not all the requisites required by a financial institution to fulfill the payment of the installments are met.
These requirements may relate, for example, to what you have (an open-ended contract, demonstrable pay slips, ascertained income, presentation of a guarantor, etc.) or previous conduct with other loans. In the latter case, in particular, if you are protested or entered by the Crif in the bad payer registers, you will not get a loan from a bank so easily (with some exceptions).
So what to do? The solution could be that of loans exchanged between private individuals, who see two private individuals as protagonists, both on the creditor’s and debtor’s side. However, what differentiates these loans from a simple personal loan is that they are gradually extinguished through bills of exchange.
If you are interested in this type of loan, here are five tips not to go wrong.
Contact an absolutely trusted person
Let me be clear, it is not a question of dictating absolute rules, but in general the first advice that can be given to those who are about to apply for a loan changed by a private individual is to contact a trusted person, with whom they are linked by a sincere relationship of esteem, friendship or kinship. This will ensure that no surprises arise, especially in terms of collection. It is clear that since the bill of exchange is an executive debt, it secures the creditor, who will still be able to collect his debt, but less the debtor, who will also be able to have his assets seized.
If you are looking for the lender online, consider the risks well
As with all aspects of life that surround us, loans changed between individuals can also be found on the web. There are in fact special blogs that collect the requests of those who need a loan and put them in contact with the offers of the lenders. If you choose to follow this possibility, be careful to carefully evaluate each risk and ensure that you are faced with a serious lender. Then there is the distance to consider, for the collection aspect: if you live in Rome, what sense does it make to accept a relationship with a lender or debtor who lives in Palermo, or Milan?
Attention to the request
When applying for a loan promoted by private individuals it is true that there are no limits on figures, but it is also true that what cannot be repaid will be foreclosed by the creditor. It is therefore appropriate to reserve this method of credit for situations of real need.
Punctuality in payments
These loans are often disbursed in cash, delivered directly by the creditor to the debtor, also at home (see Loans exchanged at home). The latter undertakes, precisely through bills of exchange, to settle the debt by a certain date. Once the debt has been paid, the bill of exchange is returned, which at that point will have the value of a receipt. It is important to be punctual in payments: the protest, in fact, starts after being certified by a public official, notary or bailiff and immediately becomes executive.
Formalize the loan
Finally, if you are on the side of those who lend money using the bills method, the loan should be sealed by a private agreement. In this way the lender formally undertakes to grant the sum of money and the debtor to pay all bills.