Are you planning to look up for emergency loans? Failure to comply with the deadlines for the payment of the installments constitutes a default against the credit institution: in this case the beneficiary of the personal loan will be required to pay the accrued interest on arrears and also the expenses incurred by the credit institution for the recovery of the amount due. Furthermore, the legislation provides that the customer is immediately registered in the databases of the financial risk centers as a bad payer, a  circumstance that will make the subject unable to request further personal loans for a certain period of time except under certain conditions.

Early termination

Each personal loan contract provides for the possibility of early repayment of the debt contracted with the bank or finance company: this item therefore certifies the possibility of fully repaying the loan obtained before the term established by the contract, paying the remaining amount net of interest plus a possible penalty that cannot exceed 1 percent  of the financed capital.

Consumer information

All information relating to the personal loan  contracted with a bank or financial company must be reported in a series of documents:

The warning of the main rules of transparency and consumer protection in a concise manner

Illustrative sheets which contain information regarding the financial intermediary, the characteristics and economic conditions of the loan contracted

The analytical statements that describe all the costs associated with the financing, expenses and tax charges

The rights of the interested party regarding the use of personal data and other rights according to the provisions of Legislative Decree 196/03 art. 7. Need emergency loan bad credit? Click here