The self-reported loan credit bureau is the ideal proposition when if you fall into the category of bad payer or protested. But what are the funding opportunities, how to apply for them and what are the requirements? Here are all the answers.
Loan changed : how it works and how much you can ask for
The first option to be considered in the context of the self-reported loan credit bureau is the changed loan. Based on the payment of bills, enforceable debt securities, it is recovering after several years of falling demand.
The bills, as mentioned above, give the right to the reality that issued them to immediately retaliate on the assets of the insolvent customer.
The changed loan is characterized by a fixed rate for the entire duration of the amortization plan, which can go up to 120 months. This value, however, is a bit higher than the average as the loan is accessible to bad payers, protests and individuals without a paycheck. This puts credit institutions in a position to seek protection.
Also to be remembered is the role of the expenses that the various companies have to bear in order to have the authorization to provide the changed loans. These too must be recovered with the rate.
To conclude, remember that with these products you get a maximum of $ 50,000 / $ 60,000 and that freelancers must present the possession of an active life insurance policy for at least two years as proof of income.
Pawn loan: what it is
Pawn credit can also be included in the list of credit bureau self-reported loan alternatives. How does it work? By committing a precious asset, which is assessed by an expert. On the basis of this opinion, the loan is then disbursed.
The customer who chooses it must take into account the interests and the costs of custody. As regards the duration, it generally ranges from 3 to 12 months. Among the credit realities that allow access to these loans, we can mention Lite Lender and Best bank.
Loans with alternative guarantees: what to know before applying for them
When it comes to self-reported credit bureau loans, it is good to also remember the solutions with alternative guarantees. What do they foresee? The presentation of a guarantee for creditworthiness which may concern a mortgage on a property or the receipt of a divorce check.
In this case it is good to specify that credit institutions tend to accept more favorably the requests coming from those who have a paycheck.
Loans with guarantor: how to apply for them
We conclude by recalling that in the list of autonomous loan proposals reported credit bureau it is also possible to find solutions with guarantor. What do they foresee? The possibility of requesting access to credit by presenting a third party guarantor.
It is essential to remember that it must be a financially reliable person, able to intervene in case of difficulty on the part of the main beneficiary. The credit institution that provides the loan always checks its credit profile.