Loans to Bad Payers

Loans to bad payers are loans granted to those who have been registered in the credit bureau register as a bad payer, hence the name of this particular financing solution. We will deal in depth with everything related to this form of loan, from those who can request it as long as there are alternatives.

Who are the bad payers?

The definition of bad payers refers to those who have been reported as such and have been entered in the special bad pay register, kept by credit bureau. In short, astro is the computer system where there are the names of all those who have applied for funding (both bad payers and non-payers) and where the credit history of a person can be seen (consequently being registered with bureau is not synonymous with being a bad payer), while credit bureau is a company with various offices around the world, which holds the aforementioned astro register.

To become a bad payer it is theoretically sufficient not to pay even one installment of a loan or loan on time. No matter the reason, the sufficient condition is the non-payment of the installment. In practice it often happens that if you skip the payment of an installment, the finance company tries to collect it in the following month. If it succeeds, there are usually no consequences, otherwise you could be reported as a bad payer. For more information, contact your bank.

Loans for bad payers

Loans for bad payers

What are the loans granted to bad payers? We can basically see three types of financing:

  • employee loans
  • proxy loans
  • changed loans
  • pawnbrokers

These loans are granted to bad payers because they have excellent guarantees for the financial company. The assignment of the fifth and the proxy loans present the guarantee of the salary (better if you have an open-ended employment contract), while the promised loan (also known as a loan with promissory notes) has the guarantee of signing promissory notes, which are securities executive and, as such, are easily “convertible” into cash in the event of non-repayment of the installments.

In our list, the first solution can be requested by employees or pensioners, the second by employees and the last also by self-employed workers.

Employee loans

The classic loan to bad payers is the assignment of the fifth, be it salary or pension. The guarantee, as mentioned, is the presence of a salary and TFR (Employee severance indemnity ). The fact that the installment is paid directly by the employer (on behalf of his employee) into the coffers of the financial company leads to greater tranquility on the part of the latter.

This type of loan is characterized, in fact, by the installment which is repaid with a deduction paid by the employer or pension institution to the financial company or bank.

Does the employer have to accept the assignment of the fifth?

The answer is “no”, in the sense that an employer has no power to decide whether a transfer of the fifth can be granted or not. The final choice is entirely up to the bank or finance company. However, he has a legal obligation to pay the installments in place of his employee. As we will see below, an employer has the option of accepting or not a proxy loan, or double fifth.

What is the maximum amount of the installment for the assignment of the fifth?

The monthly installment that can be repaid goes up to 1/5 of the net salary or pension.

Assignment of the fifth of the salary

For employees , both in the private and public sector, the transfer of one fifth of the salary is the ideal solution as loans to bad payers. Both those who have a fixed-term employment contract and those who have a permanent contract can apply.

Transfer of the fifth of the pension

Retirees can instead apply for the assignment of one fifth of the pension. This solution is practically similar to that of the salary assignment, with the difference that the monthly installment is retained on the amount of the net pension and not the salary. In addition, the minimum pension must also be taken into account in the calculation.

Who can request them?

  • public, ministerial and private sector employees
  • employees with fixed-term contracts
  • retired with retirement pension

If you belong to one of these categories, ask for a quote for the transfer of the fifth of the salary.

Delegate loans, or double fifth

Delegation loans , also known as double fifths, are another of the bad payer loan solutions. As you can guess by reading the name, these loans allow you to pay a maximum monthly installment double that of the assignment of the fifth (therefore up to 2/5, that’s why they are also called double fifth loans). They can usually be requested by permanent employees, due to the greater stability of the workplace. These loans must, by law, also be accepted by the employer. On the contrary, the employer cannot accept or not a simple assignment of the fifth, for which the final decision is always of the bank.

Who can request them?

  • public, ministerial and private sector employees

If you belong to one of these categories, ask for a proxy loan or double fifth.

Loans changed

Loans with promissory notes , also known as promissory notes, are another classic form of loan for bad payers. The basic prerequisite, in this case, is the signing of bills of exchange, or of the executive securities with which the financial company can easily repossess any sums not reimbursed by the customer.

The advantage of this form of financing is linked almost exclusively to the fact that even bad payers without particular guarantees or self-employed bad payers can have access to credit. Keep in mind that this should be the last resort for bad payers, as interest rates are usually higher.

Here are some of the companies that provide changed loans in Italy:

  • Loans with bills Mas
  • Loans with Teoremafin bills
  • Loans with Prestimarket bills

Who can request them?

  • employees
  • retirees
  • self-employed

Pawn loans

Pledged loans are the latest form of financing for bad payers. They are characterized by the fact that it is necessary to provide an object in pledge in order to have the corresponding cash value in exchange. The advantage of this form of loan is that virtually no other collateral is required, given that a valuable asset is provided as a counterparty. Among others, gold, silver and diamonds are usually accepted.

Who can request them?

  • employees
  • retirees
  • self-employed

Loans online

Loans online

Online loans are one of the ways in which you can apply for loans for bad payers. In practice, these are financing solutions that can be requested directly via the internet, 24 hours a day and comfortably at home. The benefits also include lower interest rates compared to personal loans requested “off line”, since online companies have less costs to cope with and that the paperwork required for online financing is usually lower and everything is leaner and faster. It is no coincidence that online loans are also called fast loans.