Loans without a paycheck with guarantor are solutions that can be requested to meet an economic need, that of financing, even if you do not have a paycheck with which to guarantee the repayment of the loan but you have a guarantor.
Loans Without Pay slip with Guarantor, but Who is the guarantor?
Usually the term “guarantor” defines a person who, in fact, guarantees the repayment of the loan. Practically the person who will answer for the repayment of the loan to the financial company that granted it, if the main debtor, for any reason, does not fulfill it. In theory the guarantor can be any third person, in practice the best solution is that it is a relative or spouse of the person requesting the loan.
What type of guarantee are we talking about?
The technical term for defining the guarantee we are talking about is “surety”. The person who offers to act as guarantor is known as a guarantor, while the other person is the guaranteed one. It is a guarantee model that has its origins even in Roman times, when the guarantor verbally guaranteed the fulfillment of a loan taken by another person.
What does the Italian law say about the surety?
This ancillary obligation, which means that it exists if the main obligation, the loan, exists. The amount of the guarantee cannot, for this reason, be higher than the amount of the loan that is guaranteed, nor can it be given on more onerous terms than the main obligation. Guarantor and principal debtor are jointly and severally liable, which means that the financial company may request the sum due to it indifferently to one of the two parties, unless the benefit of enforcement has been provided, under which the creditor has the obligation to request the sum first from the main debtor and only in the event that he does not pay can he refer to the guarantor.
Loans guaranteed by multiple guarantees
In the event that the loan is guaranteed by multiple guarantees, all guarantors are jointly and severally liable.
Who can usually apply for loans without a guaranteed paycheck?
When we speak of “loans without paychecks” we usually refer to loans that are requested by those who do not have a job, therefore by the unemployed. Technically speaking, loans without paychecks could also refer to loans for self-employed workers, since they do not have a real paycheck but live on the profits of their work (obviously excluding taxes).
Loans Without Payroll With Guarantor: What are the advantages?
As you can imagine, the main advantage of loans without paychecks, that is, for the unemployed, is that of being able to apply for financing even if you don’t have a job. The purpose of the loan is decidedly broad and to complete the purchase of cars, motorcycles, computers, etc.
As usual in classic personal loans, the repayment of this type of financing can come through the payment of installments at a fixed amount and at a fixed rate, in this way it will be possible to easily organize your budget.