On this page we provide all the useful information if you are interested in offering loans or if you are looking for someone who offers loans. Let’s find out how to offer or receive a loan without advance even for bad payers. Finally we will see what the loan is changed, useful for receiving urgent cash in cash from a private individual.
I offer Loan: how to lend money to individuals respecting Italian law
Offering loans is a practice that interests many because it allows you to make a profit from your savings. If you are interested in entering the world of “lenders”, on this page you will find all the information you may need to know how to proceed. First of all, the main problem to be faced if you want to offer a loan is how to be 100% in good standing. This is a fundamental aspect given that in Italy there are rather strict laws to prevent an illegal exchange of loans. In general, however, it should be noted that private loans are absolutely legal. If I offer a loan to a relative or a friend, I will not have any problems with the law. However it is good to consider some fundamental aspects of the financing, starting from the drafting of a formal agreement. So let’s see what are the steps to follow to lend money to individuals respecting Italian law.
The simplest type of loans between private individuals is that of the so-called ” family loan “. As easily understandable it is a loan offered by someone to a relative who for example can be a son, a brother, a parent or anyone who needs financial help to face an expense. This form of loan has always been there, even before the development of bank loans, since helping each other is a fundamental aspect in a family. In a relationship where there is mutual trust, there is no need for a contract to establish a loan agreement, since a simple handshake may suffice. However, to avoid having any kind of problem with the law it is good to stipulate a private writing. This has full legal value and must contain all the personal data of both the lender and the person receiving the loan. In the family loan contract the amount loaned and the repayment plan must be specified, ie the duration and amount of each monthly installment. This type of financing can be non-interest bearing (ie without interest) but if it was not then it is necessary to specify the interest rate applied. Obviously, private writing must be signed by both parties.
Because if I offer a loan to a relative or a friend, do I still have to formalize the agreement by writing a contract? Mainly the reason is to avoid problems with the Inland Revenue in case of control of the income received. As you probably already know, this check is carried out on the basis of the expenses incurred by the subject that is checked: in the event that such expenses exceed the income received, then the alarm of possible evasion is triggered. Although lending or receiving money from individuals is absolutely legal, it is not enough to say that you have received a loan from a family member to avoid a fine. On the other hand, private writing is proof of the loan of money. For the same reason, if the payment is made by bank transfer it is necessary that the lender specify in the reason for the fact that it is a loan. These recommendations may seem out of place in the case of family loans, but in these cases it is very important to have the utmost caution to avoid any kind of problem. Offering money to private individuals while respecting the law is very simple, so why risk uselessly incurring penalties?
The same recommendations also apply if you are interested in offering loans to individuals in order to obtain a safe return from your savings. Therefore, in the same way it is necessary to write a private writing in which to specify the details of the financing contract. Another aspect to consider to avoid having problems with the law is the interest rate to be fixed. In this sense, in fact, it is necessary to consider the anti-usury law, which wants to avoid precisely the phenomena of choking that obviously represent illegal financing. If I offer a loan to a private individual, how can I be sure that this is not considered illegal? To be legal, a loan must provide for an interest rate below the usury threshold defined by law. This threshold depends on the type of financing offered: for example, as regards personal loans, it is set at 16.40%, while for loans aimed at, a threshold of 15.57% is envisaged. In any case, however, if you do not know which rate to apply, we advise you to use the average interest rates applied by banks and financial institutions: a private loan could be defined as usurious even if the annual interest rate applied is too high compared to the average applied.
How to receive money on loan without advance and in cash from a private individual
After analyzing the legal aspects that govern the exchange of loans between individuals, we see how to receive money on loan also in cash. First of all it is good to consider an important aspect that is that of security. It is good to pay close attention to those who turn to receive the amount of money we need. Just search on Google ” I offer Loan ” to realize how many sites we offer funding between individuals. To avoid the scams that unfortunately especially on the internet are always around the corner, the first recommendation is to stay away from those who offer financing by asking for an advance on interest. No form of financing involves the payment of an amount before receiving the money we need. For this reason it is good to receive only the loans without advance, as otherwise the private person who promised us a loan at excellent conditions could pocket the advance and disappear.
In order to avoid running into scams when looking for an urgent loan, we advise you to compare the conditions of the loan with those usually offered by the banks. If these are too cheap then it could be a scam, since nobody is ready to offer their money on loan without having an adequate income. To receive money on loan without advance even in cash there are several ways. One of these is what we have also considered earlier and is the family loan. In this case, if the lender has the possibility, the supply can be immediate. As for the supply method, this can be chosen according to your needs: it is possible both cash and bank transfer. However, the family loan is not the only loan between private individuals that can be paid without advance even if there is an urgent need for money. Loans between individuals can be very fast if you find a reliable lender. Both on the internet and in some shops you can often read the words “I offer loans”.
Once you have analyzed the characteristics of the loan offered and assessed the risks that we have listed above then, if you believe that the lender is reliable, you can proceed with the request. Everything will be very simple and in general the procedure is the same as expected by any bank. Based on the amount requested, the applicant will choose the duration of the reimbursement between those provided. Based on this, the interest rate will be defined and therefore also the monthly repayment installments. Whom to contact to receive a loan from individuals? You can rely on one of the many “Loan Offline” ads in circulation, however a very valid solution is that of social lending. The social loan is the one that can be requested online through different platforms such as Prestiamoci, Smartika, BLender and more. By subscribing to one of these communities it is possible to get in touch with many lenders to whom to apply for a loan. The advantage of this type of private loans is that the platform guarantees the extreme security of the loans provided. In addition, the loan can also be provided by several people at the same time, each with a certain amount. It is therefore an excellent opportunity for all those interested in offering loans, since even small amounts of money can be invested in this way.
Urgent changed finance: how it works for those who offer and for those who receive the loan
A type of financing that is very often used in the case of loans between individuals is that of a loan that has been changed. So let’s see how it works both for those who must offer funding and for those who need an urgent loan. The main feature of this financing option lies in the repayment procedure. In order to return the sum of money provided, in fact, the payment of monthly installments is expected, of an amount that depends on the amount of the loan and the duration chosen. The lender will issue bills for each of the monthly payments provided. The bill shows the amount to be paid by the borrower and the expiry date of the bill. Punctuality in payments is very important: if the private individual who has received the loan does not pay the installment by the due date, he could risk the confiscation of the assets. This is because the bill is in effect an executive title.
This means that, in the event of non-payment by the borrower, the lender can contact a judge to demand reimbursement of the sum of money lent. In the event that the beneficiary is not able to make the payment then the property assets can be sold at auction to obtain the sum of money not reimbursed. For this reason, although loans between individuals represent an excellent opportunity for those who have been reported as bad payers or who are without paychecks, it is good to evaluate the risks that you are facing before proceeding with the request for money that we need them. The loan as a form of loan has its merits and its faults. Mainly the advantages of this product are the possibility to request it if you need money urgently without waiting for too long delivery times. It is also addressed to virtually anyone, since it can also be requested without a paycheck and bad payers. From an interest point of view, however, this is not the most convenient solution ever, given that there are better loan options from this point of view. However, this is a good solution if your loan request is rejected by the bank you have previously applied to.