Looking for more information on loans for protestors, bad payors and foreclosures updated to 2018 ? You’ve come to the right place.
We have combined efforts to create a complete guide updated June 2018 dedicated to these categories, read the article to the end and if you have doubts and questions leave a comment, I respond in the day!
The search for a loan for the protestors is often a long and complicated path, which prevents people who have suffered a protest from getting to get the amount of money they would need for their personal and professional needs.
The same applies to loans for bad payers , ie all those who have been reported in databases due to problems with current or past financing.
In any case, whether you are a protester or a bad payer, all is not lost: read on to find out what you can do to get a loan in 2018.
What are loans to protestors
As can be guessed, and as the name of these loans suggests, loans to protestors are loans that are paid to people who have been subjected to a protest.
In this article we will talk about the funding area, if you want information on how to open an account as a protested I suggest you our article on how to open a current account as a protested .
What is a protest
Even without going into excessive technicalities, we can point out that the protest is a public act (that is, drawn up by a notary or other public official) with which is attested the non-payment of a bill of exchange or check.
Therefore, if you sign a bill or issue a check that you can not pay regularly, and refuse to do so when the public official asks you, you will end up being registered in the protest register, with a series of consequences that we summarize in a very short time .
What happens if you suffer a protest
If you suffer a protest , unfortunately you face a series of consequences far from pleasant. Part of these effects is of a “civil” nature, with the payment of default interest, the risk of being liable to the assets of the creditor, and so on.
Moreover, if you are protested for an unpaid bank check, you will also face a rather salty administrative sanction , which you can only avoid by paying within 60 days of the deadline for submission of the grant.
If you do not do so, your data is entered in the computerized file of checks and cards, with the prohibition of issuing checks for a period of six months.
In addition and in conclusion, your protest will also end up in the databases that the creditors use to assess the creditworthiness of those who are applying for a loan.
Who can apply for a loan as a protest
The lines above should lead you to a fairly clear arrival point: if you have suffered a protest , you will hardly be able to obtain a personal loan with the “ordinary” channels. The same applies to loans also for bad payers.
But the above must not even lead you to think that there is no possibility of obtaining money from banks and financial institutions: even with the appropriate exceptions of the case, loans to protestors are often a reality that takes the form of a sale of fifth of salary or pension.
As for the loans to protested without the assignment of the fifth laws the appropriate article, otherwise you can continue reading.
Characteristics of loans for protested
The long introduction that precedes allows us to get to the identification of the technical form of loan that can be considered more appropriate to meet the needs of those who have in mind to request funding, while being protested or bad payer: the sale of the fifth salary or pension.
What is it?
What is the assignment of the fifth to protest
The assignment of the fifth salary or pension is a form of financing that provides for the possibility of repaying the amount disbursed through the deduction of the installments directly into the paycheck or pension slip, to a maximum of one fifth of the net monthly salary.
If the definition we have just formulated creates you some little confusion, do not be afraid. Here we “unpack” what happens with the assignment of the fifth, and its main characteristics.
Let’s start by understanding how the process of requesting a loan for the transfer of the fifth is made . It will be useful for you to fully evaluate the characteristics (even these, we will see shortly).
- Loan request : Are you protested but do you need money? Well, your situation is common to many others. No fear: a quick tour of the main banks and financial companies in your area will allow you to discover that a transfer of the fifth can be the right solution. You will then need to complete a series of documents, attach a copy of your identity documentation and proof of the fact that you are working regularly, and deliver everything to the bank.
- Calculation of the assignment of the fifth : the bank will start a part of its process of “preliminary investigation” of the financing practice. Which, to be clear, will start by asking your employer for the salary certificate or the social security institution, the transferable quota. That is, the share that corresponds to the fifth of the net salary received . This means that, if you receive a salary of 1,000 euros , but you have already requested another transfer that commits you for 100 euros per month , your fifth assignable will no longer amount to 200 euros (1,000 divided by 5), but to 100 euros (1,000 divided by 5 = 200 euros , 200 – 100 = 100 euros ). Once this document has been obtained, the bank will complete its preliminary investigation, and will give you confirmation of the procedure.
- Agreements with the employer and social security institution: once passed the phase in step 2), the bank will indicate to the employer or the social security body the amounts to be withheld on your paycheck or your payslip pension. On a monthly basis, it will therefore be the employer or social security institution (for example, the INPS) to make a deduction when you pay your salary or pension. This deduction will then be turned over to the lending bank, as payment of the installment of your loan.
The process above may seem long and complex. In reality, it is not like that at all! Thanks to the telematic systems and to many signed agreements, everything can really be concluded in a few days , allowing you to put your hand to the desired amount of money without long waits and complications.
Now, before moving on to understanding the various “forms” of loans to protested through the sale of the fifth, it is useful to try to underline some of the main characteristics of this form of financing, allowing you to understand what the differences are with a “normal” loan.
Let’s see them together:
- Maximum amount obtainable : the maximum amount you can get depends on the maximum amount of your monthly debt, equal to one fifth of your salary or net pension. So, you can not get into debt for more than 20% of what you take in your paycheck or in the pension slip: a limit a bit lower than other forms of financing, however, offset by the repayment duration that can be up to 120 months , 10 years.
- Employer or social security institution participation : One aspect that many people who have had the opportunity to resort to this funding does not like is the fact that the employer or social security institution can know about your debtor status. Their participation is however fundamental, as they assume the obligation to hold back the share transferred and then turn it to the bank. This aspect, even if not appreciated, allows to have that “guarantee” necessary to the bank or financial company to provide loans to protested and bad payers. Do not worry: in any case, they must fulfill the necessary secrecy .
- Rate and other conditions: supplies of the fifth salary or pension are often provided at very convenient terms and rates. The reason is obvious: these forms of financing represent a greater security for the bank, which can easily refer directly to the “source”, without risking defaults (that is, that the debtor does not pay because, for example, has no money on the current account) .
- Insurance : the contract for the transfer of the fifth is obligatorily linked to the existence of insurance that aims to further protect the bank, providing for protection against premia or unemployment. In short, a real armor, which allows the bank to be able to grant you the money with even greater serenity, even if you have been protested.
Let us now see, in conclusion, to understand the main forms of financing through the assignment of the fifth salary . The first, and most common, is the assignment of the salary of public employees: employees of administrations and public bodies such as regions, provinces, municipalities, public companies, schools, ministerial employees, police and many others, can well resort to this form of loan, enjoying all its benefits.
For the bank, this is the category of “stronger” employee, considering that the employer is the State and, therefore, the subject that has the least risk of failing and of dismissing.
Precisely for this reason, salary-backed salary allowances are often disbursed without the provision of insurance against the loss of your job.
These are sales of the fifth of the salary that are given with greater generosity by the banks.
Even in this case, the reason is simple: if you are protested and work for a small company, the risk that you can stop working due to crisis and consequent dismissal is greater than what would happen in the case of a public employee.
Naturally, also in this case there are important aspects of distinction, considering that normally banks can better treat the employees of large companies, compared to those of small businesses.
Finally we reach the loans for protestors with the assignment of the fifth of the pension . Also in this case, the bank is faced with an ideal situation, which will allow the financial institution to be able to provide the amount of money requested by the retired client with serenity, referring to the retention in the pension.