Payday Loan Simulation: How to Simulate a Loan Effectively

Over the years, the demand for credit has gradually increased exponentially thanks to the favorable period of interest rates at historic lows and the greater flexibility of banks and financial institutions in granting payday loans. Making a little dream or the big project you had in mind for some time has become easier thanks to the online presence of lots of useful information to make you more aware and practical simulators that help you choose the best product for you, simplifying your life.

Do you want to find out what steps you need to do and what you need to know to prepare a perfect payday loan simulation ? Then read this guide, in which are described in detail all the steps you need to take as you approach financial products of this type.

Payday loan simulation: preliminary information

Payday loan simulation: preliminary information

You have basically two ways to simulate a personal payday loan: the first is to go to a branch of the credit institution that you have chosen to turn the payday loan on and contact an operator at the counter ; you can alternatively choose to inform yourself privately about the best product for you, collecting information on the net or asking for advice from a qualified specialist. Moreover, many portals on the web allow you to make real comparisons between the companies that offer the best market conditions, allowing you to always choose a cost-effective and sustainable financing to be paid in the future . The portals on the net offer a sufficiently accurate count of the installment that you will have to bear or they often provide general indications on the feasibility of the request, even before starting the entire application process.

How to correctly calculate the payday loan

The installment of a personal payday loan consists of a series of different items, which together contribute to the total amount to be charged monthly to the customer and contain not only the repayment of the amount initially payday loaned, but also all the cost components of the credit spread over its duration. The value that identifies how much it actually costs to maintain the payday loan is called the APEG – annual total effective rate – and within it the fixed costs applied by the banks are incorporated, such as those for the production of periodic statements or for the automatic debit of the installment on the current account.

Together with the APR is considered the TAN – which stands for nominal annual rate – specifically related to the cost of credit for the customer, separated from all other cost items that however impact on the amount of the installment. The monthly payment is simply calculable ; just input all the data required by the simulation form to the video without omitting any of them and the result displayed by the system will already be a first count of the amount that will need to be incurred monthly for the initial credit request, allowing you to plan it better.

The data required to perform a payday loan simulation are the following:

  1. The amount you need to start your project : carefully weighing the choice of the amount to be applied to the financial institution or institute can make the difference between a beneficial payday loan and a very expensive one. Depending on the amounts requested by customers, banks apply different rates. If you are a low credit risk customer, it may be cheaper to opt for smaller amounts of credit solutions or shorter durations to avoid having to pay too much interest to the financial institution.
  2. For how long you are willing to pay the installment : another important data that can significantly change the request for funding and its duration. Often, a very long payday loan is associated with greater risks for the bank not to see the credit returned, so it is understandable that as the duration is extended, the interest rate applied to the credit also increases.
  3. What is your income situation : Your income situation is definitely important for the success of the simulation, which will be more effective the more you will be punctual in entering your income data within the request form. Depending on the type of payday loan requested and its characteristics, the simulation performed may slightly differ from the actual installment that will result from the officially basted practice.

Payday loans with bill of exchange

When it comes to bills of exchange it is almost automatic to think of a historical period of Italy, from the post-war period until the eighties, in which, although not having much liquidity, many families made basic investments, such as buying a house, furniture or a car. All this was possible thanks to the promissory note , a credit title that is a form of guarantee for the recipient.

For example, if you want to buy a valuable item, suppose a table of antiques worth 5 thousand euros, and the buyer is temporarily lacking the total amount, instead of giving up the purchase can subscribe to the bills , setting a deadline of payment , committing to pay the amounts monthly. In this way the seller is covered by a guarantee because, in the event of default, he can pay the payment , while the buyer knows he can fulfill his obligations over a longer or shorter period of time.

For some years now, thanks also to the economic crisis that has hit all sectors of the economy, the bill has been reintroduced again as a payment system allowing everyone to purchase goods or services in a simplified way . The bills are issued by banking institutions with different values ​​and used , for the principle of freedom of form, by direct interesting, so as to create synallagmatic relationships, ie totally equal.

The advantages of payday loans with bills of exchange

The advantages of payday loans with bills of exchange

The bills, in addition to being used for the payment of goods or services, represent a form of guarantee also in case of payday loans. In practice, the applicant requests a certain sum of money, by way of a payday loan, from the financial institution or the reference company , which, by issuing the amount, binds the subject to signing bills of equivalent value, in order to protect future collection. With this technique, the parties are 100% protected against potential non-fulfillment which becomes practically impossible as the main contractor is perfectly aware of having to comply with their obligations on time, under penalty of reporting to the competent authorities on the matter.

The operation of payday loans with bills of exchange is extremely easy, at the preliminary stage, with a meeting at the agency or financial company , the parties exchange information about the amounts requested and payable, trying to satisfy both needs. As soon as the terms are defined, the contract is signed and, at the same time, the applicant also signs the bills that correspond perfectly to the price received on payday loan. On a monthly basis, the payday loan must be repaid in the amount of the installment determined, by making a payment .

Who offers payday loans with bills of exchange

payday loans with bills of exchange are provided only by some financial companies that operate in the sector as it is necessary the intervention of professionals in the field . There are numerous websites where you can view the terms of the contract and the various opportunities for those who are oriented towards this form of payday loan, both personal and entrepreneurial. The credit guarantee allows you to obtain interesting figures that allow you to face expenses even of a certain thickness, impossible by following other channels.

Payday Loans to Protestants and Bad Payers: How They Work and who Supplies them

Payday loans are an excellent way to obtain liquid money aimed at solving problems or buying items necessary for themselves or for the family. Whether you go to the bank, to the reference credit institution, or to appropriate agencies, the person requesting a payday loan is subjected to an investigation to verify its sustainability, that is the real ability to fulfill the obligation to repay the monthly installments.

When the subject in question is inadequate, it is said in jargon that he is protested or a bad payer and until he is able to heal his situation he is unable to contract new debts. Generally speaking, the protested and bad payers are in a position to no longer be able to apply for new credit and therefore find themselves in evident difficulty, for this reason often the spouse or the closest relatives must intervene in his help who can give him new confidence with liquidity.

Since this problem concerns a substantial part of the Italian population , some institutes specialized in this field have also set up a protection network for this category, which allows them to emerge brilliantly from the difficult moment and take back their company and their lives. We are talking about a company as it is above all the entrepreneurs or traders who, running the business risk, come across these problems .

The functioning of payday loans to protested and bad payers

The functioning of payday loans to protested and bad payers

The protested or the bad payer is certainly not a delinquent but it is only a person who, at the time considered, is deprived of the liquidity necessary to close his debt position, for this reason, some agencies or credit institutions, prepare a sort of plan re-entry that allows you to return to an original situation of serenity. First of all, the position of the applicant is analyzed by consultants and experts in the matter, in order to verify the presence of any real guarantees, such as property ownership, or materials, such as ownership of shares or shares.

Having identified the most appropriate form of guarantee, by calculating the solvency, it provides all ‘provision of credit that, in most cases, can be used for the conduct of business or for reasons. The installments are calculated based on the real possibilities of the applicant and do not appear to be burdensome.

Who dispenses these particular payday loans

payday loans for protestors and bad payers are disbursed by certain credit institutions or financial companies that deal specifically with this sector, which, reading the statistics, is constantly increasing. These companies operate with a well-defined intent, occupying a slice of the market that has remained empty and that the major banks, already at the first criticality, tend to close the doors to their customers and depositors, with incalculable damage to the economy.

The reported subjects are therefore to live a paradoxical reality in which, despite having a company or real estate value, no n have sums of cash to close the positions of debt . There are numerous websites that deal with the issue and allow you to download the informative material to expose the various stages and how to join, in every detail.

Payday Loans: What They Are and How to Get them

Payday loans without guarantees have been designed to meet the needs of those who do not have a demonstrable income such as a paycheck , a pension slip or a tax return, which are the basic guarantees to apply for a payday loan . Many believe that not having these guarantees to be able to provide the bank or financial company can not access any payday loan, if you are among them, trust you are wrong, because there are alternative payday loans for people like you and it is payday loans without guarantees.

Obtaining payday loans without basic guarantees is possible, but like all things, this type of financing also needs to be accepted . Do you want to know what they are? Well. The guarantees such as the paycheck and the pension slip are not in your possession, but you need liquidity, at this point you can resort either to the payday loan or to the payday loan with guarantor.

What is a payday loan

What is a payday loan

This type of payday loan can not be changed, as everyone can access, because it is necessary to be the owner of a property like the house and to sign bills of exchange giving as guarantee the seizure of the building itself. By doing so in the event that the sum received is not returned, the bank or the finance company will be able to claim on the house asking for the seizure, after which it will be auctioned and the proceeds will recover the money from the proceeds. This payday loan can not only require those who own a property, but above all those who are certain to be able to pay the bills within the deadline so as not to run the risk of finding themselves homeless. So before requesting it, it is advisable to think carefully about it.

What is the payday loan with guarantor

The other type of payday loan without guarantees is also the most widespread and is known under the name of payday loan with guarantor . The guarantor is a third person, who is in possession of all the guarantees that are missing to you applicant and that is a document of income and in addition it is essential that it is not registered in the register of CRIF as a bad payer and that it is not protested. The guarantor endorses your payday loan request by making available to the bank or finance company its guarantees, so doing in case you do not have to pay one or more installments of the payday loan, the credit institution will be reimbursed by the guarantor, the which will in effect become a direct debtor of the sum disbursed in your favor.

Precisely for this reason nowadays it is increasingly difficult to find a guarantor , but a family member or a trusted friend who knows your seriousness well a hand can always give it to you and to encourage them even more it is always better not to request too high amounts, because the lower the figure, the easier it is for someone to consent to act as guarantor.

payday loans without guarantees: how to choose the best services

You have to take into account that for this type of payday loans the interest rates are much higher than the classic personal payday loans and because it is very simple, the more provable guarantees are, the more risk there is for the credit institution to lose money, the higher rates go up. So to choose the best services for payday loans without guarantees you have to take into account three things:

  1. The TAN , which would be the Nominal Annual Rate, ie the interest you will have to return to the bank, then choose who offers you this lower parameter.
  2. Then you have to take into account the APR , which would be the cost index of all the financing, including expenses for the payment of installments and insurance. Even in this case you should choose who offers you this lower rate.
  3. Finally there is the Insurance Policy , which the credit institution in these cases almost always compels you to stipulate to have at least a sum of money in hand in case you do not finish paying the payday loan in full. This is definitely the one with the highest value also of TAN and TAEG, but often you find it already included in the APR expenses, if instead the institute considers it optional, you must calculate its amount separately and then add it to other expenses.

As you could read, for you that you do not have the basic guarantees it is not impossible to apply for a payday loan, because you can rely on payday loans without guarantees.

Payday Loans for Unemployed: How to Get Online

The recent economic crisis has made it even more difficult to access the credit to people without payroll. If you are unemployed, insecure, housewife or a student, in fact, you will be asked in most cases to offer a guarantee, such as a guarantor or any secondary income such as possession of a property. But how to get a Payday loan for unemployed? And how to do if no guarantees can be given? Let’s find out together!

What are loans for unemployed people

Loans for unemployed people are financial products designed specifically for those who do not have demonstrable work income and who need liquidity. Generally, credit institutions or financial institutions offer a maximum sum of 15 thousand euros and the amortization period does not exceed 5 years. Furthermore, Payday loan applicants must, in most cases, have certain guarantees in order to ensure that they can repay the Payday loan.

The guarantees accepted by banks and finance are generally owned real estate, demonstrable secondary revenue or the presence of guarantors.

Payday loans for unemployed with guarantor

If there is a guarantor there is a greater chance of being able to access the Payday loan. Typically this is a parent, relative or otherwise trustworthy person who shows a solid financial condition. In this case the guarantor becomes responsible for the financing and in case of insolvency he will have to pay.

Payday loans for unemployed persons with assets as collateral

The presence of owned real estate is considered a solid guarantee by the financial and credit institutions. In this case we talk about mortgage Payday loans and the amount of credit depends on the value of the property. In addition to real estate it is also possible to apply for Payday loans on pledge. That is, small Payday loans whose maximum amount varies according to the asset held.

Payday loans for unemployed people without guarantees

As already mentioned, when a Payday loan is requested, any bank or financial institution will ask for a guarantee in order to be able to provide the Payday loan without the risk of insolvency. Fortunately, however, over the last few years the situation has improved somewhat and with regard to small amounts of money it is possible to have a Payday loan without necessarily having a demonstrable income. In this regard, various types of Payday loans are available for unemployed, such as private Payday loans, also called Social Lending.

Payday loan between private individuals

Loan between private individuals

The Payday loan between individuals consists in proposing to the intermediary company a project that will be evaluated with a score. On the basis of the latter an interest rate will be determined and once the project has been approved, whoever will, among private lenders, decide to lend the money.


Getting a Payday loan for unemployed, therefore, is possible. Obviously, before granting a Payday loan, the banks and financial companies assess the financial position and the risk of insolvency of the applicant well. If possible, therefore, it is better to have a guarantor, otherwise it is advisable to request small sums to the institutions willing to give credit even in the absence of particular guarantees. The important thing is to respect your commitment and show your willingness to pay. In fact, even the banks have had to bend to the economic crisis and as a result are more willing to grant Payday loans to the unemployed than in the past.