Loan financing: how to get consumer credit


How to obtain consumer credit from financial companies that offer the possibility of making a loan or personal loan at a fixed rate online for all purchases.

Consumer credit

Some financial companies that allow you to obtain a loan for each purchase directly and quickly online by offering the following services.

- Make a personal loan loan application online.

- Get subsidized personal loans.

- Use the tool for calculating personal loan financing.

- Have fast personal loans granted if all the requirements are met.

- Facilitations in personal loans to employees and pensioners.

- Apply for small personal loans with no minimum limit.

- Get instant personal loans in particular cases.

- Apply for a personal loan with assignment of the fifth salary.

- Apply for a loan for auto financing.

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- Purchase a holiday with travel financing.

- Renovate or buy a property with a home loan.

- Get quick funding for medical treatment.

Personal financing request

To request a loan or personal loan, some assessments must be made which must go beyond the amount of the single monthly installment. Above all, the following elements should be checked:

- The TAN or the applied interest rate expressed as a percentage on an annual basis on the total amount of the loan.

- Le preliminary costs they represent the costs borne by the applicant for the evaluation and management of the loan application. They are paid in a single solution when the loan is disbursed.

- Any compulsory or optional insurance costs to cover the risk of insolvency of the debtor.

- The APR (annual percentage rate of charge), expressed as a percentage with double decimals, is very useful when comparing multiple offers of financing as it serves to give an exact measure of the total cost of financing, inclusive of everything.

It includes the preliminary fees, the opening fees, the installment fees, the insurance fees and the interest on the loan.

In order for the Taeg to be a correct element of comparison between several financing proposals, it is essential that the loans have the same characteristics of amount and duration.

Normally the Taeg is reduced by increasing the duration or the amount of the loan.

The loan or personal loan falls into the category of non-finalized loans, that is, it is not necessarily connected to the purchase of a specific good or service.

It provides for the disbursement of the established sum at a generally fixed interest rate to be repaid with a certain number of constant installments depending on the chosen duration.

Being a non-finalized loan, the contract is concluded directly between the applicant and the financial company that grants the loan, with consequent disbursement of the money directly to the final consumer.

Generally, since there is no specific asset that acts as a guarantee in the event of the debtor's insolvency, the signature of a guarantor or a surety is required.

In some cases, a declaration signed by the applicant concerning the destination of the requested funding may also be requested.

In the case of a personal loan, there is a minimum and maximum amount that can be financed that varies between € 150 and € 30,000.

Certain specific elements must be indicated by law in a personal loan contract:

The interest rate charged.

Any additional amounts and conditions that may apply, including charges to be paid in the event of a default.

Financing amount

The number and expiry of the various installments with the relative amount.

Taeg (annual percentage rate of charge) with additional indications of the conditions under which it may possibly be varied.

Amount of additional charges excluded from the Taeg calculation.

The credit protection guarantees that may be required.

Insurance coverage required not included in the Taeg calculation.

It is important to remember that no additional sum beyond that provided in the contract can be requested from the debtor.

Making an unpaid installment often involves an increase in the interest to be paid and the risk of being reported in the list of late payers or bad payers to the Central Credit Register.

This will make it more difficult in the future to obtain all types of financing by reducing the degree of creditworthiness.

The timely payment of even one installment can legitimize the lender to cancel the contract with the consequent request for payment of all bank and protest costs incurred for the recovery of the credit with in addition a penalty.

In the event of unforeseen events that make it impossible to pay an installment, it is therefore advisable to promptly notify the bank or the lending financial company to find the most suitable solution together, thus avoiding reporting to the Central risks and expensive legal disputes.

An early repayment of the loan is always possible and occurs with the repayment of the remaining amount of the loan including the charges and interest accrued up to that moment and a maximum percentage of compensation equal to one percent of the capital.

Sometimes it may be convenient to pay off a loan if it has been contracted with conditions worse than the current ones and request a new one in replacement.

Online loans are loans on the Internet provided by an authorized credit institution or company through a request procedure prepared on a website.

The transfer of the sum of money, to satisfy certain required requirements, occurs with the restriction of the return of a capital equal to or greater depending on the agreements.

Consumer Finance (July 2022)

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