Loans to bad payers: which are the most interesting solutions?
In the area of loans to bad payers, four particularly convenient and advantageous forms of financing can be identified, also because they are easy to obtain. It deals with:
- loans changed;
- the assignment of the fifth;
- delegation loans;
- surety bonds with guarantor.
Here are their characteristics and the conditions to be met in order to request them.
1. Loans changed
Loans to bad payers through promissory notes are among the most common forms of financing among those who are considered bad payers registered with CRIF, these are based – as you can guess from the name – on the signing of promissory notes.
These banking products can also be chosen by those who in the past have been reported as bad payers to CRIF, but also by those who cannot count on a paycheck to be offered as a guarantee to the bank. Requesting and obtaining them is not difficult and in general the procedures are rather quick: you can get an answer already after 24 hours.
The bottom line of these loans to bad payers is that the bank issues bills instead of the traditional repayment installments : bills that must be paid at maturity by the debtor. This solution represents a way to protect both parties, in the sense that the customer can obtain the credit he needs even in the absence of the guarantees that would be required for a normal loan, while the bank protects itself having the certainty of being able to appeal., in the event that the payment is not respected, to an executive act of the judge.
Loans are promoted loans for bad payers that are granted with a fixed interest rate; the total cost calculation includes commissions and stamp duty.
2. The assignment of the fifth of the salary
Even the transfer of the fifth of the salary falls within the category of possible solutions among loans to bad payers : in this case, in fact, the guarantee is directly represented by the existence of a certain salary.
The assignment of the fifth requires that the repayment installment corresponds to one fifth of the monthly net salary of the person who requested the loan (it can also be lower, but never higher): the duration range granted ranges from a minimum of 24 months to a maximum 120 months, taking into account – however – that the maximum duration cannot go beyond the end of the employment relationship (except for ministerial employees, who have the option to choose whether to transfer the debt directly to the pension or to pay it off immediately ).
Clearly, the assignment of the fifth is among the best bad payer loans, also because the law also requires the subscription, at the time the contract is signed for the financing, of a life and employment risk insurance: in short, the banks do not they have no reason to refuse this loan unless they have doubts about the solidity and reliability of employers.
The risk of voluntary insolvency on the part of the recipient of the loan is practically reduced to a minimum, precisely because the repayment is implemented by withholding the installment directly from the paycheck (of course, the transfer can be revoked as voluntary).
For the disbursement of the loan, the fundamental condition is the involvement of the employer – who, by law, is obliged to collaborate -, on which the extinction of the loan depends – at least formally – since it is up to him to pay the installment while retaining the sum from the worker’s paycheck.
3. The loan delegates
The delegation loan is one of the most interesting bad paying loans: it is aimed at private and public employees and requires that the installment of the loan be withheld directly on the paycheck.
One might ask, at this point, what the differences are between this formula and the assignment of the fifth of the salary: the most substantial one must be identified in the fact that with the assignment of the fifth the loan installment cannot exceed 20% (in fact, one fifth) of the salary, while with the delegation loan – also known as the payment delegation – it can reach 50%. Moreover, the delegation of payment can be requested even if the salary is already affected by the assignment of the fifth.
A further distinction consists in the fact that the transfer of the fifth can also be obtained by the pensioners, who instead do not have the possibility to request a delegated loan.
4. The surety with guarantor
Last, but not least, among the loans for bad payers that are worth considering, here is the guarantee with guarantor: the guarantee is nothing but the signature of the guarantor.
Basically, in the event that the principal debtor – that is, the person who received the loan – does not repay the loan, it would be up to the guarantor to do so. And it is a binding obligation: just think that, if the contract is terminated due to insolvency, the credit can be collected both from the debtor and from the guarantor.
Here, therefore, that the guaranty with guarantor is interesting because it allows a bad payer to have access to credit : paradoxically, the difficulty is not so much in finding a bank that is available to grant this opportunity, as in finding the guarantor that take responsibility and at the same time risk.
In any case, it must be said that the surety can be linked to a limit of amount: in essence, once this threshold has been exceeded, the guarantor no longer has to worry about anything as he is not required to repay the money that is missing due to the insolvency of the debtor. When the debt is extinguished, the surety ceases automatically.
In summary, there are many possibilities of choice in the assortment of loans for bad payers: whether you opt for exchanged loans, for the assignment of the fifth, for the delegated loan or for the guaranty with guarantor, who has a non-crystalline financial history funding can be awarded without much difficulty.