Protest Loans 2018: Offers and Solutions


Loans to protestors and bad payers 2018

What they are and how to get them

What they are and how to get them

How to get protested loans? Normally banks and financial companies grant credit only against adequate guarantees and on condition that the applicant has a good credit profile, that is, that in the past he has not had problems in returning any loans and loans.

On the other hand, those who have had this type of problem, that is the subjects who are indicated in the SIC as “bad payers” or “protested”, will find many more difficulties.

Who are the protested or bad payers?

Who are the protested or bad payers?

Protestants are those who have suffered a protest, that is, the act by which a public official ascertains and declares that the subject has not paid a credit certificate or a promissory note.

As a result, one becomes protested when a bill of exchange, a check or a security is presented for payment but is refused and a notary, or a bailiff, ascertains the non-payment or non-acceptance.

Bad payers, on the other hand, are the subjects who have had delays in paying the installments of a loan, or have failed to meet the deadlines, but who have nevertheless honored the debt. Those who have late paid one or more installments of a loan or a mortgage are therefore reported as bad payers.

Loans to protesters with paycheck 2018

Loans to protesters with paycheck 2018

The fundamental difference between protested and bad payer is therefore that the former did not respect a payment commitment, while the latter paid late, but still honored his debt. Although these are two very different positions, those reported as bad payers or protests usually face many difficulties in obtaining new credit.

The SIC database

This happens because who has had problems in respecting a payment is reported in the SIC databases, which banks and credit institutions consult before granting a loan or a mortgage to assess the degree of solvency of the applicant.

If a person is reported as a bad payer or protested, he is considered “financially unreliable” and will hardly be able to obtain credit. However, there are forms of financing that allow protestors and bad payers to access credit.

These are types of loans that allow the lender bank not to take into account the applicant’s credit profile, but let’s see how to get loans to protestors. One of the most used solutions is that of the transfer of the fifth, which by providing for the repayment of the installments by direct reduction from the paycheck, or from the pension, is also accessible to those who have had financial problems.

The assignment of the fifth in fact significantly reduces the risk of insolvency on the part of the loan holder, since the payment of the installments takes place by the employer or by the social security institution that provides the pension, which undertake to reduce the monthly installment from the income of the debtor and pay it to the lender.

Loans protested without assignment of the fifth

Loans protested without assignment of the fifth

Employees can also apply for a loan with delegated payment, also known as double fifth because of its structure that follows that of the assignment of one fifth of the salary. The main difference between the assignment of the fifth and the loan with delegation is that in the second case the monthly installment can go up to 2 fifths of the net salary received by the applicant.

Protestants who wish to apply for a loan without binding their salary can resort to loans with bills of exchange, where the monthly installments correspond to bills with executive title. In case of non-payment then the bank can request the attachment of the asset brought as guarantee.

Among the measures that make it possible to obtain loans to protestors and bad payers there is also the surety, that is, the personal guarantee provided by a clear subject who undertakes to repay the loan instead of the debtor in the event of insolvency. If the holder does not repay the installments, the creditor can refer to the third-party guarantor who is obliged to pay the required monthly payments.

Who are the loans exchanged with guarantors aimed at?

Who are the loans exchanged with guarantors aimed at?

Self-employed workers usually encounter greater difficulties in accessing credit, for this reason proposals have been created specifically designed for this category of customers. In our study, we want to consider credit lines designed for self-employed workers without a paycheck entered in the credit bureau register (database containing the names of the insolvent debtors, who during a repayment period delay or avoid paying the installments).

The main features?

It is difficult for self-employed workers to obtain a loan by assigning a fifth of the salary (a measure that provides for the direct retention of the loan installment). A valid alternative for self-employed people who have had problems in repaying a previous loan and want to obtain a new loan is represented by loans exchanged with guarantor.

Self-employed bad payers can benefit from a personal loan through a promised credit solution. The element that characterizes bills of exchange and their status as executive title, which allows the credit institution to return to the amount granted if the debtor proves insolvent.

The provider can therefore proceed with the pledge or sale of the assets held by the debtor. The guarantor is a figure who can greatly facilitate access to credit, given that he will commit his own income guarantees to the debtor.

If insolvency situations arise, the guarantor will intervene by honoring the debt. The guarantor must not be present in the credit bureau register.

Loans between family members and relatives without interest

How the loan between relatives works and how to protect yourself

How the loan between relatives works and how to protect yourself

Loan between relatives without interest is a form of non-interest bearing loan that is disbursed by a private entity to another private individual. Usually the subjects involved in the non-interest bearing loan are relatives. These are therefore loans granted to siblings, parents or children.

There is talk of non-interest bearing financing because interest is not applied. Consequently, the beneficiary is required to repay only the sum granted, without any increase.

Being made by private individuals, this form of loan does not even include opening costs or commissions. Furthermore, there is usually no precise deadline for the refund of the sum.

Although this is not a transaction for consideration, precautions should be taken when taking out a loan between relatives. Security measures that have the aim of protecting both the beneficiary and the provider.

What are they for? Although non-interest bearing loans are a statutory credit access solution, they can be considered an offense by the Inland Revenue. It is possible that the AdE may see the attempt to launder money, or suspect a loan sharking practice in this operation.

It is therefore necessary to be very careful, since all money transactions that take place on current accounts are tracked. Consequently, these operations may be subject to verification by the Agency, especially if they are large movements.

To avoid nasty surprises, such as incurring a tax assessment, you need to take certain precautions before lending money to another person. Obviously we are talking about precautions that are necessary when the loan concerns the passage of substantial sums.

The main risk is in fact the so-called profit meter. Tool that has the purpose of ascertaining the income of a taxpayer, on the basis of its spending power and which could be activated by an expenditure considered suspicious.

Recall that if the value of the loan exceeds 20% of the income received by the beneficiary, the Inland Revenue may ask for a recalculation of the amount due for the payment of the personal income tax (assuming a work activity in the dark) and therefore arrange the related fines.

Why sign a contract between family members

The first thing to know when talking about loans between relatives without interest is that every time a loan is loaned, a real contract is concluded. Contract that is considered valid even if no formal document is signed, and the loan is entered into orally.

The loan, even if we should speak more properly of a mortgage, therefore it is a contract that can be signed not only by banks and financial companies, but also by private individuals. As already mentioned, Italian law does not impose the written form for the loan contract.

In other words, the parties can agree on the refund conditions and sign the contract even with just a handshake. However, it is always advisable to sign a contract in the form of private writing. Document that for greater security should also be registered or authenticated, but it is not essential.

In fact, the presence of private writing can be the solution to various problems that could arise over time. Drawbacks that would be difficult to resolve if the loan was taken out only orally.

For example, let’s say that the borrower decided not to repay the money. In this case it will be necessary to start a lawsuit, but if you do not have a document that demonstrates the conditions set for the loan it may be difficult for the borrower to get the sum back.

Private writing

Private writing

If a loan does not involve interest payments, as in the case of a loan between non-interest bearing relatives, it is almost always an operation that has the purpose of helping the beneficiary.

Despite the altruistic purpose that underlies the loan between relatives without interest, it is possible that the movement of money from one account to another generates suspicions to the Revenue Agency. Hypothesis that becomes much more probable if the financing concerns rather high sums.

Therefore it is important that the two parties have the possibility to justify this operation in front of the tax authorities. For this reason it is essential to put the contract black on white, resorting to private writing. Document that, even after many years, can demonstrate that no taxable operation is hidden behind the money concession.

What to indicate in the document

But what are the data to be indicated in private writing? The contract must necessarily indicate:

  • the personal data of the parties involved;
  • the amount lent (clearly written);
  • the methods of reimbursement;
  • the rate applied (in the case of non-interest bearing loans equal to zero)
  • the wording ” loan agreement pursuant to Art. 1813 et seq. cc. “.

Once all these data have been entered, the parties will need to sign the loan agreement. Not only. The certain date is also required, which we will see later.

Of fundamental importance is the wording “ex Art. 1813 et seq. cc “which must be reported in the contract header. This in fact indicates the type of contract, in this case the mortgage. Why is it so important? The answer is simple, the mortgage is the only form of financing that can be taken out between two private entities.

We also remind you that the interest rate must be indicated only if it is a loan for consideration. In other words, for the loan between relatives without interest it is not essential to indicate the zero rate in the contract, but prudence is never too much.

We also remind you that the two parties may also choose to indicate optional items in the contract. These may concern, for example, the consequences of a possible delay in payments or the purpose of the loan.

How to put the certain date

As we have seen in the previous lines, when signing a loan between relatives without interest with private writing it is necessary to indicate the certain date. But how to get it?

There are several ways to put the certain date on a contract. One of these is to register private writing to the Inland Revenue, a choice that is undoubtedly advisable especially if the financing concerns significant sums.

By choosing to register the loan contract, the contractors incur the following costs:

  • a stamp duty of 16 USD for each four sides of the contract;
  • a registration tax of 3% of the loan amount in question.

The latter must be paid within 20 days from the date of the loan agreement. When it comes to an interest-bearing loan (therefore it is not the case of the loan between relatives without interest), the registration tax is calculated on the amount disbursed increased by the interest agreed by the contract.

As an alternative to registration, the date can be affixed to the loan between relatives without interest at a post office, or by using an exchange of correspondence by registered letter with return receipt. Among the various solutions to affix the certain date we find that of resorting to the electronic signature of the act, choosing to apply a time stamp.

Regional funding: subsidized or non-repayable?

How do regional funding work?

How do regional funding work?

The process of advancing federalism, accompanied by an increasingly stringent spending review , has left the regions with few resources, so even when we hear about regional funding , the relative funds are not directly provided by the region itself.

In fact, this decides only on the size of the fund for each period and the requirements to be able to access the call for applications and the allocation of contributions, which in most cases are provided in the form of non -repayable loans .

Characteristics of regional funding

Characteristics of regional funding

The EU, in the distribution of the money allocated in its own funds, already aimed at the realization of certain projects, also establishes the sums that are assigned, for each programmatic period, to the different regions.

Amounts that, logically, take into account the economic difficulties, the state of backwardness in terms of wealth and the unemployment rate of the various areas (and this explains why the various Regions obtain funds of different amounts). The assignment of the funds therefore upstream already has its use.

The various regions can also determine the extent of possible additional incentives assigned to certain categories (especially female and young entrepreneurs) and the minimum and maximum admissible investment threshold. All these provisions are summarized by the regulation of each call that defines the guidelines for each assignment. In recent years the Regions have increasingly resorted to revolving funds , which allow them to continue to allocate unused funds, overcoming the temporal limitations that accompany the calls for tenders.

Types of regional funding

Types of regional funding

The most widely used forms of financing are, as mentioned, non-repayable and subsidized loans . The latter are very specific, as they are above all the result of agreements that the regions have made with the banks that are most present at a territorial level or, in some cases, directly with the associations representing the various companies by sector.

This type of financing mainly involves a facilitation of access to loans (broadly following the characteristics of honor loans ), but often interest rates that are lower than the average ones also apply. Only for this type of financing can you contact the banks directly for information on the existence of any agreements, while in all other cases you must necessarily inquire at the regional offices or on the sites of the regions.