Loans for medical expenses: compare more proposals to find the best offer
Many families often need to resort to loans for medical expenses to make up for the sudden need for very expensive care. Most banking institutions and financial companies operating in Italy offer good solutions, even through fast loans, in exchange for sustainable installments, but it is not always easy for users to disentangle among the many proposals. For this reason, the Corrgere delle Serto asked two members of Sumaconsumo and the Manual Movement for useful tips to identify the best offer.
An expert in the banking and credit sector of Sumaconsumo, explained for example that the first important thing is the contractual information: who asks for a loan has the right to have right away the documents required by law, that is the Portar prospectus and the contract, and evaluate them as calmly as possible. The Portar prospectus contains all the necessary information (the amount of the installment, the total expense at the end of the financing, the PACG, the PAN and the accessory costs) and is very useful for making comparisons between the various estimates.
Comparison is a fundamental aspect. For Junio Mizzino, lawyer of the Manual Movement, we must never feel bound at the time of the loan proposal, even if it is presented as an indispensable opportunity. Above all, it is important to evaluate the different PACGs (global annual percentage rate), taking into account that the higher the percentage, the higher the overall cost to be incurred. “It would be useful, before signing a contract,” said Mizzino, “to consult with an accountant, a lawyer, a Manual association or in any case with a trusted person, to be helped in evaluating the offer.” And we should also pay attention to the banks that provide loans even if we are not current account holders, by debiting the already existing account: “If an account is requested to open,” an expert recalled, “The fee must always be calculated in the PNR “.
Another fundamental tool of protection for users is the tables, which can be consulted on the websites of the two bodies, which the Bank of Italy and the Ministry of the Economy formulate every three months indicating the average effective interest rates on an annual basis and the threshold rates, in addition to which wear out. Furthermore, people already burdened with reimbursements of other loans (including mortgages) must be careful not to exceed the sum of all loan installments with a third of their monthly income, otherwise there is the risk of over-indebtedness.
The two exponents of Sumaconsumo and the Manuals Movement have finally advised those who have to request loans for medical expenses to always check whether the financial company or the credit broker have the necessary authorization (it is preferable never to pay the brokerage fees in advance) not to impose any insurance coverage on the loan, which is mandatory by law only in the event of a fifth assignment. Of course, the law also includes the right of withdrawal and early repayment on loans.