Contracts have a common denominator
A premise: when we talk about loans with a 6-month contract we refer to the vast world of precariousness, which includes in series of contractual forms variously called such as apprenticeship, collaboration or cococo, project (or ex cocopro) contracts, on call, atypical, internship, trial etc. etc. All these employment contracts have a common denominator: they are fixed term or fixed term. We have already talked about it on loans and loans for temporary workers.
Loan with a 6-month contract: the short term (six months) in relation to the repayment period. The problem is not of a technical nature, that is, there are already credit institutions that make personal loans at 6 months then repayable in six installments and which, as we will see, at the present 2020, allow you to pay up to 3000 USD in 6 monthly installments.
Last installment which cannot go beyond the expiration of the contract
The real problem of a 6-month loan, in our case, is the expiration of the last installment which cannot go beyond the expiration of the contract! Now, as long as, for example, it is a loan with a 3-year contract, there should be no problems: three years means paying the loan in 36 installments. But if we consider a loan with an annual contract, it already becomes problematic to obtain it: let alone that which rests on a 6-month contract. In this case, we should make, ask, the loan in the first few working days, that is as soon as hired: ask for it 1, 2 or 3 months after hiring, means obtaining a refusal of financing, as no one makes loans payable in 3, 4 5 months!
But even to ask just in time, what kind of loan can they grant us if we have to pay it in 6 months (6 installments)? The answer is a very small (not a small) loan. They would hardly grant us over 2000 or 3000 USD! This is why, in the case of a 6-month contract, we must focus on other solutions, starting from the (possible) renewal of the contract.
Before indicating the other solutions, we still want to show you who does it in 6 installments: there are many financial companies that make personal loans 6 months but we prefer to indicate two of them, also because they are the largest and above all present throughout our territory. The aforementioned financial, we assure, make loans payable in six installments! Let’s move on to solutions, and in particular to renewal.
Loans with a 6-month contract: what does renewal have to do with it?
Well, the question to ask is: will my semi-annual contract be renewed or not? 1) if it is NOT renewed, other guarantees follow; 2) if, however, the employer guarantees us that it will be renewed, then we have a first guarantee which can be explained in the following way: the employer can act as guarantor for a repayment period that coincides with the renewal or renewals (if are more than one), personally guaranteeing for that period also demonstrating adequate documentation which shows the will to renew the contract for a whole period (1, 2, 3 etc.). In this case, the bank will grant a loan that will coincide with the renewal periods: for example, a 6-month contract, renewed 3 times means a loan to be repaid in 24 installments (2 years). If there is no renewal, well, we have a series of solutions that are common to any loan that is supported by ancillary guarantees and not only in the loan with a 6 month contract. Let’s see them together.
Loans with a 6-month contract: alternative solutions. The first alternative, the most obvious, is the presence of a third party guarantor who, in our case, can be the employer: he, if he wants, can guarantee us even beyond the renewal term, for example, he could guarantee us one or two years more. As anticipated, the other solutions are not specific for those who have a 6-month contract (we have these on proposals), but concern a little all those forms of credit that do not have an adequate income to the required financing.
Therefore, outside of our employer, any person can act as a third party guarantor. Then, those who have a property available, even owned by a third party, can obtain a liquidity loan which is a kind of personal loan but guaranteed by the property through a mortgage. Finally, all that remains is to indicate the most extreme form of credit: the loan with bills of exchange, on which you can get more info on loans with bills of exchange and who makes them in 2020.