Fast Credit Loan Changed – Advantages and Disadvantages

Velo Credit is a financial company specialized in loans with bills of exchange regularly registered in the Single Register of Financial Intermediaries accordingly to art. 106 TUB, with the number 160, and is an ARIN Associate. The characteristics of the product it offers (personal loan changed) allow the Latio company to also evaluate the possibility of financing bad payers (as shown by the official website for late payments and not for outstanding payments) or, in general, those who have difficulty in obtain traditional financing because it lacks any credit reputation, both positive and negative. Instead, protesters are excluded.


Main characteristics of your proposal?

Main characteristics of your proposal?

The main aspects on which Velo Credit bases its promised loan offer can be summarized as:

  • application of a fixed rate , determined according to the applicant’s reputation, age, type of position and job activity, etc .;
  • response in a short time , through a quick outcome (which depends on the moment in which all the required documents are delivered) which is indicated on the site within 24 hours;
  • term of funding between 3 months and 36 months .

The offer is also aimed at specific categories of financeable subjects which are represented by employees, both public and private and by pensioners . For each category, there are minimum conditions linked to length of work or at the time of starting the pension. In particular we have:

  • civil servants : at least 6 months from the date of hiring and permanent contract;
  • pensioners : at least 6 months from the first pension and at least a pension of 1000 dollars (net of deductions from the transfer of the fifth);
  • private employees : 12 months on permanent contracts.

As for the latter category, there is also to consider the type of company for which you work, which must be a spa or srl and have at least 30 employees. There is always the requirement of the personal age which must be between 18 and 75 at the time the contract is signed ( therefore the 75 years must not coincide with the date of termination of the loan ).


Online quotation and request: is it possible?

Online loan

The loan with bills of exchange, also due to the need to complete and sign the credit title, cannot be disbursed directly via the web as it could be with a normal personal loan. The services that can be accessed online are the information services that pass from filling in a form through which to obtain info or an appointment with a consultant. To access it, just click on the button with the words “Request a quote”:

For information, you can also take advantage of the Whatsapp function (to access it, go to the Velo Credit website from your mobile phone and click on the Whatsapp symbol on the side, and then start the chat), or chat on the site via Messanger. In the contact section there is also the form that allows you to be contacted by a consultant to eventually decide to make an appointment.

As highlighted on the official website, the first meeting serves to better defines the needs and therefore the conditions of the loan. Then there is the delivery of documents and the evaluation phase. If all goes well, it ends with the signing of the bills (always in one of the two offices) and then delivery of the requested sum.


Financing conditions

Financing conditions

The two certain information are: an amount that can be requested that must be between 2000 and 5000 dollars; the duration between 3 months and 36 months. As mentioned, a fixed rate is applied for the entire duration of the loan which is decided on the basis of a series of assessments made. This will however be communicated to the applicant during the estimate before the effective loan request.

If the overall condition is convincing, you can move on to the formal loan application by following the advice of the consultant on the conditions to be met. The presence and insertion in a practice by a guarantor can also be assessed, but each situation is considered differently, case by case.


Necessary documents

credit loan

The standard documents necessary for applying for financing with the Latio financial institution are:

  • the valid identity document;
  • health card or tax code;
  • the income documents represented by the last two payslips and the CUD for employees and the pension slip for pensioners;
  • a recently paid bill;
  • the Iban of your current account correlated by an extract of the movements relating to the last 60 days.

Credit with no credit rating

Terms of solvency and payment behavior 

Terms of solvency and payment behavior 

For many consumers who want to apply for a loan, the question of creditworthiness or creditworthiness is explicitly the decisive factor when it comes to getting a loan approved. There is no credit without a credit rating.

The creditworthiness is what defines the borrower in terms of solvency and payment behavior in the past. The solvency of borrowers is measured by their income, which is set in relation to existing expenditure and obligations.

This means that the income must always be significantly higher than the expenditure, so that at least the installments can be paid from it. Another and very important credit rating feature in Germany is the data stored at Credit Bureau about the person of the loan applicant. These provide the bank with information about the customer’s payment behavior in the past. The creditworthiness is therefore checked in two ways, because the banks will not grant a credit without a credit check .

Exceptions also confirm the rule for loans with no credit rating

Exceptions also confirm the rule for loans with no credit rating

It may well be that there are cases in which customers get a loan, although their creditworthiness is in doubt. These are often the bank’s discretionary questions. So it can be that loans without creditworthiness are granted to the borrower, because the borrower brings a guarantor whose creditworthiness is perfectly given. This may become clearer with an example. A trainee with an income of 300 USD would like to finance a used car and also has a negative entry in the Credit Bureau due to unpaid cell phone bills.If this trainee goes now and applies for a loan, he will not get a loan without a credit test. However, if he brings his father as a guarantor and he is a civil servant criminal detective or judge or university lecturer, the bank will still grant the loan without the applicant’s creditworthiness because the guarantee is good.

That means that no loan without a credit rating would not be the correct statement, but at least not as the sole borrower. The creditworthiness describes the creditworthiness and this must be given in some form if you want credit.

Low Interest Rate Loans

Private borrowers in Germany can now look forward to a very large selection of different loan products. Not only has the selection of different credit products increased significantly in recent years, more and more banks and savings banks are now offering several credit products with attractive terms, most of which are subordinate to a specific purpose. If you want to take out loans with low interest rates, there is no way around a comparison today, the enormous variety of offers has contributed to a constantly low interest rate level, but it has also made the comparison considerably more difficult.

Loans with low interest rates 

Loans with low interest rates 

The variety of offers on the Internet in particular has increased significantly in recent years. Many banks and credit institutions on the Internet today offer their credit products increasingly or even exclusively via the Internet. In particular, the online banks on the Internet, which do not have their own branch network, are known for their cheap credit products and attractive conditions. Borrowers can particularly look forward to low-interest financial products with flexible terms, repayments and any purpose at online banks. Anyone who is looking for the right loan should always consider the purpose of the search. Not all loans are freely accessible, often a specific purpose has to be considered. Online loans are also increasingly available without a specific purpose.

Even today, loans with low interest rates are primarily offered with Credit Bureau. Credit Bureau information still plays a crucial role in the credit check. A regular income of the borrower is also crucial for a positive credit rating. If you have a positive credit rating and a regular income, you have a good chance of a low-interest loan.

Of course, other factors have a decisive influence on interest rates. In practice, the term, the purpose and the loan amount always play a decisive role. The term and loan amount are therefore of enormous importance, as they represent an incalculable risk for the banks. For this reason, loans with long terms and large loan amounts are often more expensive than loans with short terms and small loan amounts.

Find low interest loans online

Find low interest loans online

In order to be able to find a cheap loan that meets personal requirements, consumers should definitely use a credit comparison on the Internet. Financial portals on the Internet now allow a quick, easy and free comparison. A credit calculator is usually provided for the comparison, which allows the possibility to take individual information into account in the comparison. Since individual sizes can be taken into account, the loan calculator provides particularly precise comparison results. Through a targeted comparison, the interest costs can be reduced enormously and a lot of money saved in the long term.