We find out what fiduciary loans are and to whom they turn, a type of personal loan available both online and offline and offered by a large number of lenders.
What is a fiduciary loan?
Loan loans are a type of loan belonging to the category of non-finalized personal loans, not intended for the purchase of a specific good or service. The name of a fiduciary loan derives from the fact that no material guarantees are required for the granting of the loan; the loan is then disbursed on trust, that is, assuming that the subject is able and willing to repay what has been received by way of a loan. In theory, nothing prevents a financial institution or a bank from granting a fiduciary loan even to bad paying and protestors ; however, this eventuality is rather rare, since in the assessment of the person requesting the loan, the impossibility of coping with the financial commitments taken also demonstrated in the past represents an obstacle to the granting of trust that distinguishes this type of loan.
The characteristics of the fiduciary loan
With regard to specific characteristics, a fiduciary loan is no different from most personal loans for amounts disbursed and repayment period . In addition to the documentation attesting the identity, it is often required to present a document that demonstrates the possibility of coping with the loan to be contracted, even if this is not true for all fiduciary loans.
A fiduciary loan is compatible with the presence of other loans , loans or mortgages, provided that the indebtedness of the subject allows to meet the additional cost represented by the new loan. It should be noted that in principle a loan is considered sustainable if it does not affect more than one fifth of the average income of the subject, even if this proportion is subject to different types of assessments, such as the presence of additional loans, to fixed costs to be sustained periodically and to the variability of the average income received.
An example of a fiduciary loan: student loans
A specific type of fiduciary loans is related to certain categories of people, such as students . In this case, the student can hardly produce the documentation to demonstrate the perception of a stable income , a factor that distinguishes the most requested guarantee for personal loans online or offline. In the case of students, loans dedicated to the needs of those who study are provided even in the absence of specific guarantees, usually thanks to the support of bodies or foundations that assume the indirect role of guarantor for this particular type of subjects.
However, students are not the only recipients of fiduciary loans, which can be granted for example to unemployed, retired or aspiring entrepreneurs, with different characteristics depending on the specific personal loan. Very common is the creation of fiduciary loans by local entities and entities, which through a loan want to support a specific request, as for example it could be done for the redevelopment of disadvantaged areas through the creation of new entrepreneurial realities.