Loans to protestors and bad payers 2018
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?
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
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
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?
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.