Bad Payers Loans 2018
When a subject requests a loan, it is automatically registered in the credit information systems of the archives which, for a specific period of time, retain all customer information.
Getting into the bank and getting a loan, be it to buy the house or the latest smartphone, to repair the car or to settle the dentist’s account, is becoming increasingly difficult. The cause of this, however, is not entirely attributable to the banking system, which is still reluctant to grant liquidity to citizens.
In fact, the number of Italians who are denied a loan is growing because they are bad payers. Then one wonders what bad payers are. All those who have paid late, or have not paid at all, the installments of a loan are registered in the Sic (Credit information systems) as bad payers. Being a bad payer and consequently being denied loans can create enormous inconvenience and in the case of entrepreneurs, this condition can also represent civilian death.
Whenever someone accesses consumer credit, both directly and as guarantor, this is recorded in the Sic, which collect data relating to all the loan contracts that are entered into by banks and financial companies. SICs are used to evaluate the credit rating of customers and to limit the risk of lending to those who are not deemed able to repay them, including bad payers
Due to the financial crisis that has plagued our country for years, banks and credit institutions hardly make loans to those who have had financial problems in the past and are reported as bad payers on SIC, the credit information system to which they turn Italian lenders before making a loan.
All persons who have not regularly paid the installments of a loan or who have issued uncovered checks are reported as bad payers. The names registered as unreliable payers can remain on the “bad payers lists” for a maximum of three years from the extinction of the loan. It is clear that access to credit becomes difficult for these subjects who often find themselves refusing mortgages and loans.
Delaying the payment of an installment or even worse being insolvent in the amortization of a debt guarantees the insertion of our name in a special register managed by the Credit Information System and since then every new request for funding will fall within the wide panorama of loans to bad payers.
If already the strings of the credit exchange in the last 12 months are decidedly tight, even worse will be for all those who are going to apply for loans as bad payers: the credit institutions will in fact use the registration in the register as a valid reason not to grant no financing.
Fortunately, there are some ways out that allow loans to be paid to bad payers, the most common of which is the assignment of a fifth of the salary.
In the presence of a permanent employee contract, it is possible to request the lending institution to withhold the amount necessary to pay the installment directly from the paycheck, with a maximum of 20% of the net amount received; in order to avoid any kind of further difficulty in payment, employers will pay the amount due directly to those who request bad pay loans with assignment of the fifth.
This type of credit guarantee is also applicable in the case of retired workers, in which case the pension fund will be responsible for the payment.
How to get them
Loans for bad payers are a specific type of financing intended for those who have had financial difficulties, such as, for example, delays in payments of installments or insolvency. The bad payer condition is determined by reporting to the retro database.
Banks and financial institutions do not easily grant loans to individuals who have had problems returning credit. But given the increase in demand from this category of users, the lenders have prepared the offer of loans for bad payers.
Loans changed, assignment of the fifth, loans to protestors
These loans are usually disbursed by companies and financial intermediaries, which grant loans to bad payers through the assignment of one fifth of the salary, proxy loans or promissory loans.
The assignment of the fifth is the formula most frequently used by banks that present loans for bad payers. Through this particular type of loan, in fact, it is possible to obtain a credit line since the applicant’s salary, in the event that he is hired with a permanent contract and has a regular paycheck, constitutes a sufficient guarantee for the bank for the granting of the loan.
Loans to bad payers with no fixed salary
Bad payers who do not have a fixed monthly salary can instead use their assets as a guarantee of financing or resort to the guarantee, a practice that involves the intervention of a guarantor who takes charge of the payment of the installments in the event that the debtor does not can do it.
Loans to bad payers on assignment of the fifth
Thus was born the need to introduce credit lines designed specifically for those reported as bad payers to the market. Loans for bad payers are generally loans on assignment of the fifth or loans with delegation. The assignment of the fifth is a type of non-finalized personal loan that allows obtaining up to 60,000 USD. The amortization plan is at a fixed rate and can extend up to 10 years.
This form of financing is reserved for employees hired on permanent contracts and for pensioners. The repayment of the loan takes place through the direct reduction of the monthly installment from the beneficiary’s salary or pension. The debtor’s solvency is also guaranteed by the stipulation of a compulsory insurance policy, which protects the bank even in the event of death or loss of the debtor’s job.
Bad loans online personal loans
Only in the face of solid guarantees and an excellent credit profile are banks and financial institutions inclined to grant loans. On the other hand, those who have had problems in repaying previous credit lines, simply pay an installment late, must face all the obstacles opposed to the so-called ” bad payers “.
Anyone who does not respond promptly to the deadlines for loans or mortgages, or has issued overdrawn checks, is in fact reported to the Central Credit Register, which can be consulted by banks. The name of the subject financed is thus indicated in the lists of bad payers, where it remains for a period of up to three years from the moment of the conclusion of the loan.
In this situation, access to credit is complex. The bad payer is in fact synonymous with insolvency, an eventuality that avoids any intervention by the providers. The solution? Loans on assignment of the fifth.
These are financial products for employees and pensioners, characterized by the direct deduction of the installment from the monthly allowance (salary or pension). The assignment of the fifth also reflects a sustainability criterion, the amount of the installment cannot exceed one fifth of the monthly net income. The rate is fixed, while the repayment period cannot exceed ten years.
The beneficiary can earn up to 50 thousand USD, despite the bad payer status. In the case of employees, the permanent contract of employment is preferable.
The employer cannot oppose the transfer of the fifth, even if he will have to get in touch with the banking institution to confirm the contract. However, we must point out that in some circumstances the provider can demand the signature of a guarantor. This will have to intervene economically if the beneficiary of the loan does not respond with due punctuality to the commitments undertaken.
Given its role, the guarantor must be a person with a mirrored credit curriculum and with solid guarantees to be presented to the bank (salary, real estate, etc.).
As a guarantee of reimbursement, an insurance policy must be signed, which protects the provider in the event of the client’s death or job loss. The accrued severance indemnity may also be requested, again to cover the loan.
Is it possible to obtain bad paying loans and what are the conditions applied?
The tightening of the crisis has led to a contraction in funding opportunities. Let’s clarify the actual opportunities reserved for those who have had problems with banking institutions.
The worsening of the economic conditions has led many entrepreneurs and ordinary citizens to find problems with the financing activated, soon finding themselves enrolled in the list of bad payers. It is sufficient to delay the installment of a loan by a few months. While we will be protested in the event that we cannot pay. A set of conditions that constitute an important constraint in accessing credit.
But don’t be discouraged, even if at first glance it may seem like a desperate venture, bad paying loans are a possible reality. Hopes for bad payers are fueled by certain credit institutions that offer specific loans for this type of user (some of these offers also concern protestors).
Bad paying loans are usually granted to those who can demonstrate that they have a regular fixed-term or permanent contract. Needless to remind you that the second hypothesis is the most favorable if we want to ensure a good chance of success for the acceptance of our application.
The fixed-term contract must be at least as long as the amortization and return period defined by the contract. Those who do not have an income or are not employees can bet on the loan or the loan.
The guarantees required
If an employee hired in a private company is applying for the loan, the insurance company that issues the policy may request the presence of a series of objective requirements, for example a minimum number of employees or a share capital exceeding a pre-established level.
A further form of guarantee for the bank granting the loan is the severance indemnity accumulated by the borrower. The amount of the installment, which remains constant for the entire duration of the loan, cannot exceed the fifth part of the salary.
Loans to bad payers with delegated payment
Loans by proxy are structured like the assignment of the fifth, but the installment can go up to 40% of the salary received by the beneficiary, net of taxes. Only public and private workers hired on permanent contracts can access loans with delegated payment.
So here is all you need to know about Loans to Bad Payers. All the financial conditions and guarantees you need to apply for a loan.
Proposals and risk of wear
So let’s get into the merits of bad pay online personal loans. Several companies specializing in the provision of credit operate on the Web to those reported to the Central Financial Risks.
prestitionline.com, for example, allows you to obtain up to 30 thousand USD to be returned in 10 years. The Tan applied is 4.25% and Taeg 8.90%. Products are granted on assignment of the fifth, provided that the applicant is an employee or pensioner, and loans for debt consolidation.
Another company operating in the field of bad pay online personal loans is 4credit. There are two solutions available to the applicant: assignment of the fifth and loan delegation. Also in this case the sums paid do not exceed 30 thousand USD.
When looking for financial products on the Web, especially if they are lines of credit for bad payers, it is essential to consult, in detail, all the contractual conditions, especially as regards the interest rates applied. In addition to being competitive, they cannot exceed the usury thresholds periodically defined by the Bank of Italy.
Loans to protesters with assignment of the fifth
Those who have suffered a protest, because they have not been able to honor a check, or to pay a promissory note within the due date, are reported in the SIC databases as a protested and therefore financially unreliable subject. The same fate is for those who have had delays in paying the installments of a loan, subjects that are registered as “bad payers”.
Protesters and bad payers are considered by banks to be non-financeable entities and often face great difficulties in obtaining financing. To meet these categories of customers, some financial companies offer special loans that are also accessible to protestors and bad payers.
Funding amounts and conditions
The offer includes special types of financing reserved for employees and retirees who have had financial problems, such as protests and reports as bad payers in the SIC registers.
The loans provide for the repayment of the credit obtained through the assignment of the fifth of the salary, a repayment method that does not take into account the customer’s creditworthiness. In fact, the transfer of the fifth requires that the installments of the loan are directly deducted from the payee’s salary, and paid by the employer to the institution providing the loan.
The amounts that can be financed range from $ 5 thousand to $ 50 thousand and the interest rate applied is fixed for the entire duration of the loan. In case of early extinction, no penalty will be paid.