The loans to young people without guarantees are one of the measures most requested in these times of economic and employment crisis prevailing and where the need for liquidity makes up for the lack of a regular employment contract or a pay fixed, among more classic tools of protection required by a bank or any other credit institution.
Fortunately, although these are high-risk loans , the offer is now wide and diversified and the financial market can easily satisfy the demand of those who need liquidity while still not having a permanent job, studying or working already. as a self-employed person.
Loans without guarantees: what they are and how they work
Taking a step back, in fact, traditionally loans without guarantees are those loans to which they are addressed
- students ,
- unemployed ,
- housewives ,
- self-employed and freelancers with a VAT number,
They are, as already mentioned, high-risk loans since the bank or other lender cannot rely on a pay slip or a monthly contract from which to derive amortization and repayment of the loan . Precisely for this reason there are often special formulas and, in many cases, higher rates are applied than the average of other solutions. Downstream this means that, before asking for a loan without guarantees, especially if you are very young and you can rely on alternative tools, it would be good to make the right considerations.
The news is not new, moreover, to cases in which measures such as these have actually turned out to be real scams for the unemployed young man or without a paycheck in search of a loan. Relying on your bank of reference, if you have in your catalog of loan offers to young people without guarantees, or to other well-known credit institutions and wary of solutions that are apparently very, too advantageous for the customer, is a good starting point to avoid scams. .
Before seeing, however, what are the main formulas of loans to young people without guarantees, it is worth trying to answer another question: are these loans without pay checks really loans without guarantees? It is enough to have a minimum knowledge of the world of banks and credit institutions to understand that the answer can only be no . In fact, the most traditional instrument of guarantee that is, in fact, the fixed and monthly receipt of a pay slip may be missing. Even when the customer does not have a regular work contract, however, specific insurance clauses are requested and included in the contract
- the secured and mortgage guarantees , which provide that in the event of insolvency the bank or credit institution may act on registered real estate (houses, buildings, etc.) or current assets (current accounts, valuables, etc.);
- personal guarantees , generally in the form of a surety by a parent – in the case of loans to young people without guarantees – who becomes jointly and severally liable for the insolvency of their child
- or, more rarely, especially when it comes to loans between private individuals, insurances for the possibility of using the life premium as a guarantee.
What are loans to young people without guarantees
Precisely in consideration of the clauses and conditions required by banks and other financial institutions before and to grant one, it is easy to understand that, although there are different forms, there are few loans without guarantees actually suitable for young people.
In most cases they are student loans or honor loans for young people , loans for unemployed and loans for freelancers or self-employed. Here are some more details on each of these formulas and how to get a loan of this type.
Loans for students vs. loans for honor for young people without guarantees
When it comes to student loans we speak generally of loans designed to cover expenses linked to the attainment of a degree, a master’s degree, a specialization, a PhD or a post-doc title. Many financial institutions, when not directly many universities, periodically provide for calls of this kind and the most interesting aspect of this kind of loans is that they have a non -repayable component, subsidized rates and a guarantee window for the repayment of the loan.
relatively long and such as to ensure that the student can find a job first and to pay the installments. There are no particular guarantees required when trying to access student loans, but one’s academic career may be taken into consideration or a minimum of CFU per academic year may be required.