Bad payers and protested loans 2018
The assignment of the fifth represents the most widespread solution when it comes to loans for bad payers. This is because it is a particular form of loan that allows those who have had problems repaying a past loan to obtain money. However, those who are not employees or retirees must resort to bad paying loans without assigning a fifth.
When it comes to bad loans without assignment of the fifth, there are two possibilities above all: the sureties and the changeable loans. Let’s find out in detail the characteristics and the relative opportunities for those who have had problems in the refund processes.
The alternatives to the assignment of the fifth
If a person with a problematic credit position chooses to apply for a loan, he has several options. Here are the main alternatives regarding bad paying loans without assignment of the fifth.
- Surety: through the surety, the person requesting the loan presents a guarantor to the financial institution. Person who undertakes in writing to return the agreed amount in case of inability to pay by the beneficiary.
- Loan changed: as is clear from the name, this type of financing is returned in the form of bills. Bills of exchange include fixed interest rates and constant amounts.
But who can get them? Bad payers loans without assignment of the fifth are accessible to those with demonstrable income. Therefore, both employees and the self-employed and pensioners are included in the audience.
Usually, however, only self-employed workers and employees who already have a lot of funding are applying for these loans. In this second scenario, these are workers or pensioners who have already committed more than 40% of their salary or monthly pension.
Condition that makes it impossible to use monthly income to obtain a new loan. Employees and retirees who find themselves in this situation therefore cannot resort to the assignment of the fifth and can only opt for a loan changed or with guarantor.
The figure of the guarantor
Speaking of loans with a guarantee, it is necessary to specify that not everyone can play the role of guarantor. In fact, in order for the loan application to be accepted, it is necessary that the person presented as guarantor can count on a demonstrable income. Income that can derive from both a self-employment activity and a subordinate employment contract.
In order to access credit, the guarantor must also have a good credit profile. In other words, he must have had no problems with repaying a past loan or suffered protests or foreclosures.
At the same time, the guarantor must comply with the registry requirements set by the bank or financial institution that provides the loan. Not only. The guarantor must not have any other loans or mortgages in progress, otherwise financing will be difficult to obtain.
It should be noted that the guarantor cannot permanently replace the borrower. In fact, its intervention is foreseen only if the beneficiary is faced with a period of economic difficulties, thus failing to repay the installments.
What happens in the event of insolvency
In the case of bad paying loans without assignment of the fifth, in the event of insolvency situations on the part of the beneficiary, the situation envisages the following alternatives.
- In the event of a surety: the financial institution that provided the loan can refer directly to the guarantor. Person who, in turn, has the subsequent right to move in the same way with the beneficiary of the loan.
- For promoted loans: if the beneficiary of a promised loan does not pay, the financial institution can refer to the assets owned by the bad payer (for protesters it is very difficult to obtain a promised loan), foreclosing them with the aim of converting them into money.
Who disburses bad payers 2018
But who grants funding for bad payers? While loans on assignment of the fifth are widespread, the same cannot be said for bad paying loans without assignment of the fifth. Again, however, a distinction must be made.
Unlike what happens with traditional personal loans, not all lenders provide loans with surety bonds or exchanges. Those wishing to obtain a guarantee must apply directly to the branch of a bank or financial company. On the other hand, it will be difficult to obtain a loan with guarantor by contacting an institution that operates online.
Loans with promissory notes, on the other hand, are more difficult products to find than other credit lines. In this case, in fact, credit institutions are almost exclusively small credit institutions.
The large banks and financial institutions provide almost exclusively personal loans or other forms of consumer credit.