Loan changed for bad payers: some clarifications and conditions

Apply for a loan

Apply for a loan

To obtain a loan, one passes both from the evaluation of the economic situation and from the credit history of the applicant, which is done by the credit institution before granting a loan. As a result, the situation becomes more critical for those present on the CRIF lists, the reference database for credit institutions, but it is a problem that can be overlooked. There are two alternatives. If you are a worker with a permanent contract or have a pension, you will easily be granted a loan with the fifth assignment even if you are a bad payer. Those who do not have a fixed salary can apply for a loan, with this type of loan the bank is protected as it is possible to proceed with the attachment of the customer’s assets in the event of insolvency.

It should be remembered that the bad payer label is temporary, since the presence on the Crif’s lists is also temporary and the cancellation is automatic and free. It becomes faster if the problem has been remedied or is minor. For example, for delays of one or two installments, the cancellation will take place after 12 months from the notification of payment, for delays of three or more months will take place after 24 months. In addition, even loans that are not reimbursed are automatically canceled, but after 36 months from the expected extinction date.

But let’s see in detail what it is. The loan is issued in exchange for the signing of bills by the customer and it is a personal loan for which the motivation of the loan is not required. The loan is disbursed in the order of 24-48 hours in particular if it is a limited amount.

This type of loan can be requested by employees, the self-employed and newly hired employees. The documents that are requested are: personal documents, such as identity card and social security number, documents showing income, or the pay packet (for employees), the pension slip (for pensioners), the CUD, the 730 (if you are an employee) and the Unico model if you are self-employed. In addition, copies of electricity, telephone and gas utilities are required.

60,000 USD

60,000 USD

The sum granted goes up to 60,000 USD, at a fixed rate, but the amount depends on the income and guarantees provided. The installment must be contained in 30 percent of the income of the person requesting it. Normally these installments have a duration of 18 to 72 months. It is good to compare the estimates of different financial institutions or banks before signing the contract, checking the APR and the costs for issuing bills and additional expenses.

Once the contract has been signed with the financial company, the debtor will have to go to the selected bank every month to pay the bill amount, and then he will receive the signed bill and the loan is extinguished when all bills are signed. It is good to remember that this type of financing is very delicate: the delay in the payment of a bill of exchange could result in finding the bailiff with the police at home ready to foreclosure and to enforce the enforceable title.

It is important to check, at the time of signing, a whole series of items that must be reported in the contract. Let’s see what they are:

  • The data of the applicant and those of the credit institution
  • The amount of the loan and how it will be disbursed
  • Number of installments, amount and deadlines of each installment
  • TAN and APR
  • The additional amounts that are not included in the APR, with the reason and the amount
  • Charges related to arrears
  • If the type of contract requires it, also the accessory guarantees
  • Any optional insurance, methods and costs
  • Methods and costs of withdrawal from the contract

It is clear that to be a “palatable” customer for the credit institution you must have something to be able to foreclose, which in fact acts as a guarantee for the credit to be disbursed. It is a type of financing which can also be accessed by the unemployed or people without demonstrable income by presenting guarantees. The difference with respect to personal loans (which also requires guarantees) is that the assets used as collateral can be immediately seized by the judicial authority in the event that there is a delay in the payment of the installment which, let us remember, unlike the others loans, must be paid directly to the credit institution that has granted the loan on a fixed basis, where the signed bill of exchange must be returned and kept.

We report this excellent article for all the information to access the loans made without a pay slip.