Loans for bad payers too
Loans also for bad payers: types
First of all, I believe it is imperative to identify what types of loans are available for those who are reported as bad payers or who have been protested, so you can immediately focus on the option that best suits your situation.
1st possibility, I immediately get to the point: the best way to obtain financing when you have classified yourself as a bad payer or protested is certainly the personal loan with the assignment of a fifth of your salary or pension.
If you have a job with a paycheck or better yet a pension, you have a good chance that the request will be examined at least with some attention. Of course there are parameters within which to stay, but what matters is that the door is, so to speak, “open”.
2nd possibility: the loan with guarantor. Of course if you evaluate this option, I think you don’t have a paycheck or a pension, so the situation gets a little more complicated, but you can’t get a loan anyway. Then I’ll explain how.
3rd private loans : this form of financing has had a huge expansion in recent years. Individuals who lend their savings through Social Lending – P2P lending platforms.
Thanks to these web portals specifically structured to bring together supply and demand, private savers find themselves providing personal loans, obtaining more interest in exchange than those offered by banks.
Also in this case, it should not be forgotten that savers are unwary who lend money without guarantees, but the sharing of risk – it is not only a saver who draws up the loan but also more savers – is a strength that allows them to parcel the risk.
4th possibility: the loan changed. This solution is practiced only in extreme cases and it is rather difficult to find who delivers them. I am talking to you anyway as they are still a possible resource and it is said that a friend or relative is not available to give you a hand.
So we can begin to deepen the first of the 4 available options. Here we go…
Loans also for bad payers: the assignments of the fifth
If you have a regular job and can therefore count on a paycheck, accessing a personal loan even if you are a bad payer and you have suffered a protest is certainly possible.
In the research that I carried out on the various banks and financial sites, analyzing the offers relating to the assignment of the fifth, I was able to verify that there are different ones that claim to take into consideration the requests made by those who have been reported as bad payers or who have immediately a protest.
The following images say more than a thousand words, for example I’ll find you Findomestic and Agos but there are many others…
Did you see? It is not impossible to obtain a loan, what really matters are the guarantees that can be offered to the bank or to the finance company. I have written many articles on this topic, if you want more information, consult the “assignments of the fifth” section.
I want to summarize what makes the preferential channel for the transfer of the fifth to obtain loans even if you have protested. Follow the reasoning…
As I imagine you know, the main concern of a bank or a financial company or anyone who lends money for work is to get it back with interest. Now, the assignment of the fifth has everything it takes to give the due guarantees. Here are what they are…
TFR. As I know you know, TFR is the – severance indemnity -, that is, the sum of money that the company, or more generally the employer, sets aside every month on your behalf and that is transferred to you when you ends the employment relationship – or even earlier in case of need.
So, when you ask for and obtain a transfer of the fifth, you must know that the severance indemnity is “tied” and used to guarantee the loan received. It follows that if for any reason you stop paying the loan installments, the bank or the finance company can draw from the TFR so that they can get back the money lent to you.
In addition to the TFR, the transfer of the fifth to guarantee the loan provides for the stipulation of two insurance policies by law. The first policy covers the risk of job loss and in this case the insurance povvede to pay off your debt – in the event that the TFR is not enough to fill the residual debt. Be careful though, the insurance in this case will then make a claim on you and try to recover the money as it became the holder of the remaining credit.
The second policy is that which protects the bank in the event of the debtor’s death. In this case, however, once the entire balance of the loan has been paid, the insurance has no faculty to make recourse to the heirs, who owe neither the bank nor the insurance.
This is why even if you are a bad payer or have been protested, if you have a regular paycheck, the loan with assignment of the fifth is the best chance you have for obtaining credit.
Loans for bad payers too: loans with guarantor
In case you have a guarantor, asking for a loan even if it has been taken out or simply reported as a bad payer is possible. Of course, it is not as simple as if you ask for a transfer of the fifth, this is because there are further problems that need to be addressed, although this possibility is worth investigating as it is still one of the few possibilities of obtaining a personal loan.
If the loan with guarantor is the option that you think is right for you, I deduce that you do not have a regular paycheck, otherwise you would have opted for the first solution, namely the assignment of the fifth of the salary or pension.
The sore point in this situation is that even if you have a guarantor but you do not have any income, the bank or the financial company especially in front of a protested or a bad payer, sees a series of possible problems and therefore before giving a loan twice and probably won’t allow it. I’ll give you an example to better clarify the concept, follow me…
If you don’t have a job, you are therefore unemployed, ask let’s say € 6,000, how will you pay the installments regularly? The bank imagines that you will make outstanding debts and consequently will have to take into account that it will probably have to make recourse to the guarantor if it wants to recover the money lent plus interest. Of course for € 6,000 it’s a nice “cat to peel” don’t you think too?
So where is the solution in this case? Simple, you have to put something else on the scale, but what? Surely a demonstrable income that is constant over time can certainly be fine.
Example: rental income, seasonal work income or any other income that proves that you have income and consequently the possibility of paying the monthly installments. Here, in front of a demonstrable income with the addition of the signature of a co-obligor, the credit doors could also open for you.
Of course, I immediately tell you that if the disposable income is equal to for example € 6,000 per year, and for example you pay € 350 for rent per month, the amount that you can request will be really small, the bank in fact deducts the fixed costs from the income. If, on the other hand, you have a home or you do not pay a rent because you live with your parents, for example, then the situation changes.
Loans for bad payers too: loans between individuals
Among the loans also possible for bad payers are the increasingly present “loans between individuals”, in jargon “Social Lending”. This form of financing is now widely used as it is made easily accessible by websites that are specifically sweated to put private savers in contact with those who need a loan.
The sore point is that some Social Lending platforms do not accept protests and bad payers, while others have a scoring system and depending on the credit reputation they ask for higher interests to make the lenders willing to request accept to give you the money. If you are interested in this type of loan, I suggest you read the article where I explain what private loans are and how they work, you will certainly find a lot of useful information, as well as the list of the most used platforms of the moment.
Loans for bad payers too: loans with bills
I tell you in all frankness, the promised loans granted by banks and financial institutions are a rarity today in 2018. Nonetheless, I want to talk to you about it because when you are in bad pay status and maybe even protested and you need a loan, nothing should be left unturned.
Of course, to have a loan with a promised loan, it is essential that you are in possession of one or more collectible assets, I guess you know that the promissory note is an executive title (if you do not know the subject, I recommend reading the article: how the promissory notes work) and as such it must have an asset to be attached which acts as a guarantee otherwise the lender does not make sense to do the operation.
Given that by law the bills can be used for loans between private individuals, if this is the way you can – if you have detachable assets – and you want to go, I recommend you ask relatives, acquaintances and friends, because as I said, it is very difficult that a bank or financial institution is willing to arrange a loan with bills.
Conclusions and opinions
As you have seen, personal loans for bad payers and protests are possible. Of course you have to have a lot of patience, probably many will say no, but you must not give up. It is important to understand that whoever lends money to profit in the first place – unless he is an unwary – ensures that he can get it back with lots of interest, only if he is convinced that the risk is acceptable will lend you the money.