Get a loan
Getting a loan can turn out to be a real business many times, both in terms of timing, both in terms of the bureaucratic process needed to present the documents to be approved by offices, guarantors and applicants. Once a loan has been obtained, however, it is not necessarily said that things are going down: in some cases, in fact, the subject who has contracted the loan can find himself having to deal with other economic difficulties that make it impossible for him to pay the loan. full amount of the monthly installment.
But how come these situations occur? The reasons could be the most disparate: so many contexts may occur in the life of the loan holder that can deeply complicate his economic situation, such as the sudden loss of work or the payment of a new tax which appears from day to night in the Italian financial panorama (as happened with the Imu last year or Tares in the last few weeks), but also an unexpected expense that you can’t just give up (eg: the car to be replaced, the birth of a child, an illness, etc…).
And if the expenses arrive and make it impossible for us to pay the monthly payment because it is too high? In this case it is possible to apply to the finance company that granted us the loan and request the extension of the loan term. It will then be up to the company’s discretion to decide whether or not to accept this additional delay of repayment times by reducing the amount of the installment: we remind, in fact, that the current legislation does not impose mandatory measures for this area.
However, all that remains for the applicant is to carefully assess the situation and try to understand if it’s really worth it. At the time of the request to extend the loan installments and after having carried out all the necessary checks, in fact, the financial company will try to act for its own interest: it will be very probable, therefore, that by recalculating the missing amount, the percentages will also increase of interest. This may mean that the total amount of the monthly repayment could be lower than before but, on balance, you find yourself paying double at the end of the loan.
The best thing to do, would be to find out from the moment of the stipulation of the contract the flexibility options available to the financing: in this way we would be immediately aware of the possible possibility or conditions necessary to proceed with the request.
How to get an extension of your personal loan? When proceeding with a request of this type, it must be remembered that the finance company must carefully examine the reasons that led the signing of the contract to request a further deferment of the installments. If, therefore, you find yourself dealing with a period of economic difficulty, it is good to present it to the credit institution in all sincerity, so also the bank will find itself more inclined to support your request.
Once you have checked your reasons, however, the finance company will carry out a further verification of the situation, with a check at the CRIF, which will state whether you are considered good or bad payers.
What are the financial companies that offer their customers a loan modification?
Fortunately (or bad luck), the economic crisis has put the economic availability of many families under pressure, which are increasingly making this kind of request to credit institutions. It is precisely for this reason that some companies have created packages that provide for the extension of the loan with fixed rates and without asking for additional money to those who are making the request.
- Total Flex by Cleopar, it is a flexible loan for a maximum amount of 30,000 USD, which allows the choice between different rate options and duration; this package also includes the possibility for the applicant to request the extension of the loan at a later date without incurring any additional costs. This loan provides the possibility of salting also the payment of an installment.
- As I want of Astro Finance, this is a personal loan characterized by a fixed interest rate and a flexible installment: in this way the member can modify the amount of the installment agreed at the time of signing the contract without additional costs.
- CreditExpress Dynamic from OneCashe, this is the flexible loan that fits perfectly to the needs of the applicant; the maximum financeable amount is 30,000 USD and can have a duration ranging from 36 to 84 months; its characteristics are based on elasticity and, therefore, those who sign the contract can request different options, such as “skip installment” or “installment change” (in the case of an extension; there is also the alternative “loan top-up” which allows you to obtain new liquidity without presenting additional documents.
- The loan of Bankate, is a very flexible loan that allows the contractor to modify the basic installment previously agreed, up to three times during the course of the credit, choosing whether to increase or decrease it. This is certainly one of the most adaptable solutions to the needs of the applicant who, in this way, can decide how to manage their mortgage based on the unforeseen circumstances of life that can happen every day.