What happens when the search for a loan becomes particularly difficult due to a “no” from the trusted bank ? Coping with a negative response when looking for new liquidity could be a difficult obstacle to overcome. But what are the reasons for refusal and how can it be remedied ? Here’s what you need to know before applying for a loan.
Mortgages and loans
The feasibility assessment of a loan request includes numerous variables and also accessibility limits related to the technical specifications of the chosen product.
The first big difference is found between loans and mortgages, two very different forms of financing for access requirements and timing.
The loan allows you to get high amounts but is closely linked to the asset on which the mortgage will be made.
In the loan category, on the other hand, there are substantial differences that could make the difference between obtaining or not obtaining the loan. First of all the difference between purposeful or non-finalized loans : for the former it will be necessary to provide documentation certifying the purchase, for the latter not (and you can use the money freely).
When choosing a loan, other aspects must also be taken into consideration, such as:
- Presence of other loans: an excessive financial burden could prove fatal during the loan request, unless you opt for debt consolidation, a solution that allows you to group all the loans in progress (extinguishing them), obtain new liquidity and lower overall The instalment.
- Previous reports for late payment : in these cases it might be problematic to be able to obtain the loan but, fortunately, there is a solution called Cession of the Fourthe, a form of loan that provides for the return through direct deduction on the pension or salary, which can be also granted to bad payers.
- Presence of a guarantor : when there are problems of financial overexposure or late payment normally the bank requires, for the granting of the loan, the signature of a third person to guarantee the repayment of the loan. But this is not always the case! The Assignment of the Fourthe is a single signature, it does not require the presence of guarantors and therefore it could be an excellent solution in the event that you do not have a person available to sign the loan.
The Cession of the Fourthe is a form of loan with unique characteristics, which combines the convenience of restitution (direct deductions in payroll / pension) with flexibility (a guarantor is not required and can also be requested in the presence of other loans), resulting in a ‘ optimal solution even in the most difficult cases.
In fact, by choosing the Fourthe Assignment, employees and retirees can apply for a loan from $ 5,000 to $ 75,000 even when the bank has refused the loan, when there is no asset to mortgage, when there are other loans in progress or in case of previous payment delays.
Also for the Assignment of the Fourthe it is necessary to respect some criteria, to protect both the applicant and the lender. These include:
- Work contract for indefinite or board
- Perceive a salary or pension of more than $ 600
- Being in good health
- Have a maximum of 80 years to apply for funding