Monthly Archives: March 2019

You need liquidity and you have to ask for a personal loan, but is it difficult to move between the various offers to choose the most convenient one?

With a simulation of a personal loan you will have the opportunity to choose the financing offer that best suits your needs. Today, there are many loan proposals, especially on the web, where it is easy to lose orientation among the many offers that appear after a simple search on a search engine. Going deeper into the analysis, you can see many categories of loans, which could confuse the user: subsidized loans, targeted loans, loans to young people, loans with a fifth sale and many others. In addition, even traditional banks have equipped themselves to attract new customers on the web. How to understand which is the best loan?

As already done in the case of mortgages, we recommend a simple online comparison and calculation procedure of the loan that was proposed to you. Whether you have turned to a bank or have noticed a particularly convenient offer on the web, it is always good to calmly analyze its characteristics before signing and accepting the conditions: each loan is accompanied by an interest rate to be paid to those who it has disbursed it and an amortization plan that can provide more or less flexible repayment installments.

The first step therefore consists in comparing the loan of our interest, using one of the many web portals specialized in this function. These specialized sites make it possible to compare financing offers from different banks and online lenders, highlighting the differences to users immediately. Not only that: if you focus on the loan category you are most interested in, it is possible that the portal also proposes the best solutions for that type of financing. Be careful though: the offers that appear on these sites could be sponsored.

Once you’ve compared your loan with other online offers, it’s time to calculate the weight for our pockets more accurately. Also in this case, the operation can be carried out online on one of the many loan calculation sites. These systems require you to enter some information that is easy to find, such as the amount received, the interest rate, the duration of the loan and the frequency of the installments. With these available data, the simulation of the personal loan will be completed with the presentation of a detailed amortization plan, which could also distinguish between the interest expense and that relating to the repayment of the capital.

An interest-free loan between private individuals may not provide for the payment of an interest rate, but your contract must be drawn up according to precise indications: the risk is in fact that the Inland Revenue believes that it is a suspected undeclared income, on which the payment of penalties could also be pending. Despite this danger, in times of economic difficulty or when you have immediate liquidity problems, contacting family members or trusted individuals could be an easy solution to obtain financing, if you don’t want to or can’t (see the case bad payers) turn to traditional credit institutions, such as banks.

Unlike a personal loan, the non-interest-bearing loan is in fact easier to obtain

First of all, we are talking to people with whom we are connected by a family relationship or trust, who are available to help in a moment of difficulty. Furthermore, no particular guarantees should be presented, nor should an interest rate be paid: for this reason the loan is called “non-interest-bearing”, given that it should not guarantee a remuneration to those who provide it, as long as the latter does not make special requests .

Just to certify the conditions of the loan, it is better to draft a document that certifies the loan

Another important reason to carry out this operation is to make sure that the tax authorities do not consider that undeclared income , and therefore a penalty is paid: the anti-money laundering regulations that came into force in recent years have in fact tightened the controls on current accounts and suspicious revenue. If there is no documentation to attest that it is a loan, you really risk incurring the negative attention of the Revenue Agency. It may however be sufficient that the loan constitutes an occasional payment and is made through a transfer to a current account with very clear reasons.

Otherwise, the solution to avoid any problem with the non-interest-bearing loan between private individuals is to draw up a private document at the time of disbursement. The document must contain the personal data of the contracting parties, their tax identification number, the repayment terms and repayment deadlines, the purpose of the loan and any other clauses envisaged between the parties, such as penalties for late payment or interest. This document must be signed on each page and show a certain date: the stamp of any Post Office may suffice. The private writing must then be registered with the Agency (with relative payment of the registration tax) or exchanged between the parties by registered letter with return receipt.