Loans changed without paycheck

Feasibility of loans changed

Loans exchanged without a paycheck are possible and indeed widespread among those who need financing even though they cannot count on a regular salary. Their most important feature concerns the method of repayment of the sum that has been disbursed for the loan, in the sense that the monthly installments are nothing more than bills. In this way, the lending institution is insured because it is in possession of an enforceable title, which means that, in the event of insolvency, the repayment of assets may be requested by the credit agency which belong to the creditor.

How they are required

How they are required

To request and obtain loans changed without paycheck, it is necessary to sign the bills of exchange which represent the guarantee of repayment of the loan. In general, to find out if the request has been accepted or not, the times are very short: the reply can also arrive within 24 hours.

But what are the guarantees that must be offered? Obviously, just bills of exchange are not enough and other guarantees are needed to make up for the absence of a demonstrable income: this means that the presence of a guarantor, another person who ensures the payment of the amount, is necessary paid in case of insolvency of the beneficiary.

The guarantor is a physical figure who must not have further financing in progress and must be able to count on an indefinite contract; Furthermore, it is necessary that in the past he has not been included in the list of bad payers nor protested. In addition to the guarantor, the guarantee of a real estate may be requested : that which, always in the event of insolvency, would be foreclosed to allow the bank to recover the money.

Who can request them

Who can request them

Loans exchanged without a paycheck can be requested by all those who, even if they do not have a demonstrable income, need financing. This does not mean that these loans are always and in any case granted : each instance, in fact, is assessed individually, for example on the basis of the economic condition of the person submitting it, their age or the presence of other loans currently in progress.

As it is easy to guess, the bad payers and the protesters could have some difficulty in accessing such financing. Not all banks apply the same policies, but there are intermediaries and institutions that also allow those with a non-reassuring financial history to obtain loans, obviously under different conditions.

In general, this is a form of loan that is convenient for anyone who owns a property but does not have a demonstrable income: the property acts as a guarantee of repayment of the amount disbursed. The guarantee represented by a real estate and that represented by a physical guarantor can be alternative or complementary: in general, however, those who can already provide an apartment, land or any other property under guarantee do not need to look for a person to act as guarantor.

Installments and costs

Installments and costs

The installments of the bills of exchange, which are established at the time the contract is entered into, are the result of multiple administrative and ancillary expenses, which include the costs of registering the loan agreement, the costs of the insurance necessary in the event that the debt not be paid, the costs of opening the financing file, the costs of the commissions and the purchase costs of the bills.

Among the advantages that derive from the choice of a loan changed for those who do not have a paycheck is the fact that the loan can be paid off in advance, at any time you wish to do so, compared to the conclusion of the contract, simply by paying off the whole remaining amount of principal still to be repaid.


Here, therefore, that loans exchanged without paychecks can also be granted to those who do not have a fixed salary as long as they can count on a guarantor or on real estate to be given as collateral.