How to apply for and get a loan if you are complained or bad payers? The need to have liquidity in a more or less urgent manner clashes with the prudence of financial companies and credit institutions in providing money to those who have had reports of having issued debt securities subsequently protested, or of not having paid the installments of a previous loan. This means that loans for protesters and bad payers require rather strong guarantees so that the banks or the financial companies grant the capital, at least until they are reported to be in the archives such as the end-to-end knowledge company or the Register of Protests, where known negative information emerges on applicants, preventing normal access to credit. However, the financing solutions are not lacking, and in this essential guide we will see what can be achieved by asking for loans for bad payers and protested.
The fifth assignment for public employees and retirees
The simplest way to see loans given to protesters and bad payers is to offer as a guarantee a certain and demonstrable income, expressed by the pay slip for employees with permanent contracts, and the pension check for pensioners: thanks to this guarantee it is possible to obtain the assignment of the fifth of the salary or pension. The fact that a fifth assignment can be granted to protesters and bad payers, while a classic personal loan does not, derives from the direct withholding of up to one fifth of the revenue received each month, which is paid directly by the employer or pension institution to the financial company, which thus has the guarantee of depreciation. In addition there is the presence of an insurance policy that can intervene in the event of events that may affect repayment, such as early death.
The sale of the fifth is therefore the most sustainable form of loan to protesters and bad payers, but it is reserved only to a specific category of subjects, or those who have paycheck or pension slip to offer as a guarantee of income.
The characteristics of the sale of the fifth
In this diagram we summarize the characteristics of the fifth sale, the advantages and peculiarities of this type of financing, which are:
- Direct withholding of the repayment installment of up to 20 per cent of salary or pension
- Duration of the amortization plans between 24 and 120 months
- Fixed interest rate
- No guarantor required
- No proof of expenditure
- Possibility to request a capital advance
- Possibility of disbursement also with other loans in progress
- Provision also for protesters and bad payers
- Possibility to have an advance on the total sum
- Compulsory insurance for pensioners, but depending on the institution it could also be for workers reported in the registers, where it is normally optional
How to request a fifth assignment
To apply for a loan by means of a fifth assignment, the requisites already described above must be met (for pensioners, a certain age limit must not be exceeded, depending on the chosen budget), and a series of documents must be presented to start the preliminary phase, namely:
- Copy of a valid identity document
- Tax code or health card
- The last or the last two copies of the income document (pay slip for employees, pension slip or credit of the pension in c / c for pensioners)
- Single Certification (former CUD) for employees
After presenting the documents, a phase that can take place directly in the branch or even online depending on the possibilities offered by the individual credit institution, the sum of money following the stipulation of the contract can also be paid out within 48 hours. It will be the responsibility of the bank or financial institution to inform the employer or pension institution of the transfer that will result in the direct withholding of emoluments received each month by the holder of the loan.
Debt consolidation with the sale of the fifth
There is another funding opportunity for employees and retired bad payers, or debt consolidation, to be always requested by salary or pension assignment. What is it? This is a particular type of financing in which the applicant can combine all the previous loans in a single installment, a lighter and more sustainable installment which expands the amortization period, and with the possibility of requesting additional additional liquidity.
If it is true that on average the interest rate is higher than a normal loan, to be attractive and convenient it must still be lower than the sum of the previous loans, in any case the advice is to evaluate the various estimates to understand where you can save money. more. We remind you that not all financial companies could agree to provide a debt consolidation to protesters and bad payers, but the guarantee of the pay slip or pension could allow the go-ahead for the loan, opting for the salary assignment as a method of repayment.
How to apply for loans for self-employed bad payers
The situation is obviously more complicated for the self-employed and the protested freelancers and bad payers who want to get a loan despite the report to the end-to-end knowledge company or to the Register of Protests. Not being able to count on the guarantee of the pay slip or social security check, it is not possible to obtain the fifth assignment, but a credit institution could evaluate a loan in the following ways:
- Loan with guarantor
- Mortgage loan on the house
- Loan with pledged assets
- Loan with alternative annuities
- Loan with bills of exchange
Let’s see in detail how these alternative financing methods work and what they involve, in which the self-employed worker is required to strengthen guarantees to get around the obstacle of reporting as a bad payer.
Loan with guarantor
The relatively simplest way to request from a self-employed worker a loan to bad payers and protesters is to present themselves to a credit institution or a finance company with a guarantor for a surety: the guarantor in fact is a third co-obligated figure who is able to replacing the principal holder of the loan in the payment of the amortization installments in the event of a shortfall, and should be a sufficient guarantee for those who provide the money, under certain conditions. In fact, assuming that the bank or financial company agrees to finance a loan with guarantor, the necessary condition is that this third figure demonstrates a solid balance sheet through a certain and demonstrable income, so that it is able to make the amortization of the loan sustainable in case of replacement of the holder of the loan in the event of failure to pay the installments, but is not the only one an indispensable requirement: in fact, the guarantor’s creditworthiness is equally decisive, if not even more so, so there must be no protests and notifications of any kind. If, in turn, the guarantor has received reports as a bad payer, it will be impossible to grant the go-ahead for financing, and the fact that they are not in the archives at all, or if the guarantor has never requested a loan before without being spent certificate cannot in fact assess the subject’s reliability.
How to apply for a mortgage loan on the property
In the absence of a third figure as guarantor, attempts can be made to request starting from the guarantee of real assets, as can be made available to a real estate owned through a mortgage: the mortgage on the house is a real right guarantee that does not entail the loss of possession of the asset by the owner, but is advised by the experts only for large loans. Indeed some banks or financial institutions do not accept this form of guarantee especially for small amounts, since in this context the value of the loan would be far lower than that of the mortgaged property, making redemption of the capital paid in case of failure to pay any installment.
Ask for a loan with pledged assets
Another way to try to get a sum of money by pledging real assets, is the possibility of requesting credit against a pledge of property assets such as jewelery, for example. The method of financing is very simple: once it is verified that a financial date accepts the loan with a pledge, an appraisal of the asset is carried out to establish its value, and once the amount is fixed, it is disbursed in the form of money to the applicant: the debtor returns to possess the asset at the end of the amortization, paying the classic installments every month, but in the case in who is not able to redeem the asset, the financial company is entitled to auction the asset, in order to regain the capital provided.
Make alternatives to guarantee the loan
In the absence of tangible assets or properties to be subjected to a guarantee, another attempt that can be made by self-protesters to obtain a loan is to offer alternative annuities, such as a tied-up capital that guarantees a certain annual interest, or a regularly registered rent of a property, to request a small amount of capital from a financial company or credit institution. In any case, the credit institution claims that the applicant demonstrates during the preliminary investigation that he can continue to be the holder of the annuity in question for the entire repayment period agreed with the financial company, otherwise it will not be possible to disburse the loan.
For those who are with their backs to the wall, short of viable financial alternatives, the extreme attempt that can be made thanks to the financial institutions that supply them is a loan request with bills, where bills of exchange are issued instead of the repayment installments executive debt instruments that must be signed by the debtor and on which a stamp must be affixed, and which serve to honor the amortization of the debt. Unlike the installments of a normal loan, in the event of non-payment of even a single bill, the creditor is allowed to foreclose the debtor’s assets for an amount equal to what was agreed without the need for a conviction or an injunction to pay..
The loan has very high interest rates, but is usually paid also to protesters and bad payers: another fundamental difference with respect to the classic amortization rate is that it is possible to postpone the repayment date affixed to the bill, subject to an agreement between the debtor and creditor.
Among self-employed workers there are various categories ranging from entrepreneurs to artisans to merchants, and in case of difficulty in accessing credit because they are protested or reported as bad payers, we suggest that you seek information from trade associations or agencies local to see if there are opportunities for sector funding, such as the Artigiancassa credit institution for artisans or the microcredit agency for merchants. It is worthwhile to make an attempt to perhaps succeed in obtaining a small loan and to face expenses related to one’s own work activity.
Small credit opportunities
There are several financial companies and credit institutions that offer small loan opportunities among their financial products, which, as can be clearly seen from the name, represent modest loans, which in many cases take the form of a real line of credit can be activated with the ownership of a current account, or in the form of a rechargeable card. Let’s talk about light amounts generally between a minimum of 500 euros and a maximum of 5,000 euros, which are repaid in sustainable installments of 50, 100 euros a month, and with very short repayment plans.
Are small loan forms possible for protesters and bad payers ? There is no single answer in this sense, and it is necessary to go and ask the bank or financial institution where you intend to request, or rely on an expert consultant who can suggest the feasibility of such an operation. What we can say is that certainly the levels of insolvency risk are lowered considerably compared to a normal loan, so that more openings to get the go-ahead for financing are concrete for those who, as freelancers and self-employed workers reported in the registers urgently seek liquidity for solve small problems. The financial companies can in fact amortize more the risks of insolvency to these figures, but in any case it is necessary to get information from the single institution to understand how many chances there are for obtaining a small loan.