When you hear about unsecured loans, you need to pay close attention. No one lends money unless it has some form of guarantee!
The loan without guarantees is a solution proposed more for advertising purposes than anything else. In fact it is unthinkable that a loan can be provided, be it personal or finalized, without the need for income or replacement guarantees (think of the pledge) that ensure that the applicant is able to pay the installments.
guarantees or without a specific guarantee?
If it is utopia to obtain a loan without any guarantee, it is reasonable to ask for it and obtain it by bringing an atypical guarantee. The guarantee is by definition its own income: if you have a demonstrable income you have access to credit. The atypical guarantees are instead, for example:
– the income of a third person
– a valid and potentially profitable project
– an asset of which there is full availability
The first case is generally represented by the signing of the loan contract by a person who trusts or has important ties with the principal. Often, especially in consumer credit, is a relative.
The second type includes loans granted to people who have a business idea deemed valid and of potential success. They are honorary and subsidized loans.
The third example is represented by liquidity loans. The guarantee here is a property owned that is mortgaged in exchange for a loan for a maximum value equal to the estimate of the value of the property.
The cost of so-called unsecured loans
The aforementioned loans are all in the categories of offers of loans without payroll or for unemployed people who often actually lead to believe that they can receive money without guaranteeing repayment. It is therefore necessary to pay attention to the estimates that are made to us, remembering that, the less guarantees are required, the higher the cost of the loan (expressed by a higher TAEG).