Alternative forms of personal loan
Alongside the classic personal loans that we have analyzed so far, there are other loan methods that fall within the same scope of non-finalized loans, designed especially for subjects who need liquidity but who have difficulty accessing credit. In particular, we refer to the loans with assignment of the fifth and the loan with proxy , which we will analyze in detail emergency loans.
In both cases the repayment of the loan installments takes place through direct deduction from the salary or pension : these formulas are preferred above all for those who have had past financial difficulties, as they ensure the regular repayment of the disbursed capital to the credit institution or financial company, thus decreasing it the riskiness Need emergency loan bad credit.
What substantially differentiates these forms of access to credit alternative to standard personal loans is the amount of the installment : in the case of the loan with the assignment of the fifth, the maximum amount of the installment can be equal to one fifth of the monthly income, while in the case of the loan by proxy, this threshold can be doubled.
The legal regulation
For all those wishing to deepen the regulatory issues related to personal loans, we refer briefly to the laws that deal with the matter, since there is no Consolidated Law that deals explicitly and exclusively with the area.
Summing up :
The creditors help the borrower to get the loan within a short duration of time or notice to overcome the expenses