Renegotiating the loan
We know that there are several conditions to be met in order to obtain a loan: in particular, a stable and sufficient income to guarantee that we will return within the time established to the credit institution what has been provided to us. In case of difficulty in payments, there is the possibility of renegotiating the loan.
But what if we want to ask for a loan and do not fall under the conditions that banks demand? If we are unemployed, precarious or self-employed, if we do not have a regular income, can we receive a loan? In some cases, yes, but certain guarantees are still required.
Mortgage on real estate
In the absence of stable and sufficient income, the bank can ask us for an income certification (UNICO model), a mortgage on real estate or a pledge on valuable movable assets. Alternatively, the bank could ask for a bank guarantee, or that a third person (in possession of the requirements deemed more reliable) will act as guarantor of the loan.
There are also some payday loan opportunities, often aimed at younger people, with limited amounts.
It is therefore possible, in some cases, to obtain financing even without a stable income, to cover unexpected expenses or an emergency. However, it is always advisable to carefully evaluate your economic situation before contacting a credit institution. Not only to understand if we can really afford to repay installments that we will pay, but also to assess whether it is the best time to resort to tools of this type.
The risk of not being able to repay the loan is: and not only our creditworthiness will be affected but we could also run the risk of ending up in the hands of a usurer. It is better to pay attention, therefore, and to resort to financing only if our situation allows us to manage our indebtedness in peace.