Collateral is often required to obtain a loan. What types of guarantees can I have? Is there any way to get a loan without collateral? Let us have a clear picture of what possibilities there are for obtaining funding with or without a guarantor.
It is known that banks and finance companies require guarantees before they can accept anyone’s request for financing. The guarantees that are usually requested are a paycheck and the TFR (for loans for employees ), the pension slip (for loans for pensioners ) or a copy of the tax return (for loans for self-employed).
When do you need a guarantor?
If you are registered as a bad payer in the CRIF register . Those who have had financial problems in the past and have been registered as a bad payer in the CRIF register may find it difficult to seek new funding in the future. Self-employed workers registered in this register need, for the most part, another guarantee which can usually be provided by a person or, for example, by renting a property.
If you don’t have a continuous income . This may be the case for an employee with a fixed-term contract who needs money.
If you have a guarantee deemed insufficient for the amount of money requested as a personal loan.
If you already have other loans in progress and the sum of the installments of the same is particularly high according to the bank’s judgment. In this case, you may have an interest in applying for a loan to bring all the installments together into one , which has the advantage of charging a lower monthly sum compared to the sum of the installments of the individual loans.
What types of guarantees can I have?
In general there are two types of guarantees to be offered, one of the “personal” type and one of the “real” type.
The guarantees are granted by surety , or when to lend a guarantor is a relative or partner. In this case, the person becomes co-responsible for the financing in the sense that if the main debtor person (i.e. the one requesting the personal loan) does not fulfill the repayment of the installment, the financial company or the bank have the right to request payment from the guarantor. .
Another legal relationship then arises between the guarantor and the principal debtor, according to which the former has the right to repay the amount paid on behalf of the latter, but this is something that goes beyond the issue of loans.
To find out more about the guarantee, we invite you to read our guide to the guarantee , where we also indicate all the characteristics that the guarantor must have.
The real guarantees are those linked, for example, to the rent that is taken from a property owned. In this case, this sum of money could constitute a sufficient guarantee to be able to have a loan.
How much is a loan with guarantor rejected?
It may sometimes happen that even if you have a certain guarantee, the funding will be refused. This is the case of loans requested by unemployed , or by those who do not even have a part-time or fixed -term job that can offer, in themselves, a minimum guarantee of repayment.
The fundamental point is that the guarantee must serve as an “extra” to give greater security to the lender . In the case of an unemployed person, for example, he has no way of repaying the loan and therefore the guarantor would end up paying all the installments regularly, which is not acceptable.
In these cases, banks and financial companies tend to grant the loan directly to the guarantor, who will therefore be the main debtor and will be responsible for repaying the loan installments.
Would you like a loan but don’t have a guarantor?
In this case you could think of a financing solution granted with the payday loan or with the delegated loan (also known as double fifth of the salary), both solutions that lenders give even without having an extra guarantee. Ask for a free and no-obligation quote .