Before granting a loan, a credit institution requests the potential contractor for guarantees , by means of which it will be able to assess its effective capacity to repay the sum received. For larger sums, such as home loans, it is necessary to demonstrate to the bank or financing company that they have secure financial income, derived from permanent employment or from a pension. In addition to the income capacity of the applicant and other factors (such as the personal data) will be examined the creditworthiness of those who request the loan: if this is not particularly good, the chances of obtaining funding will be reduced. However, there are still opportunities to receive capital even for so-called bad payers. We see below how loans to protestors work .
The term bad payers is often used as a category in which protestants are included, but in reality they are two different concepts. When a contractor faces financial difficulties that prevent him from fully respecting the conditions of the amortization plan, but manages to honor the debt by returning the sum due (though late), then he is considered a bad payer; his name can be entered in the databases of the risk centers , which store the data of his credit behavior and provide them to the credit institutions when it should request a new loan.
As for the protested, these are contractors who failed to return the amount received, and for this they were included in the appropriate computer register of protests managed by the Chambers of Commerce. Their position is therefore more delicate than bad payers, also because the names of the latter can be deleted from the registers after a few months from the regularization of the loan: for example, in the event of arrears of two installments subsequently paid, the status of bad payer will be deleted from the lists within 12 months of regularization.
Although it is not easy to obtain financing when one has a bad credit reputation, protestants can also receive loans, turning to those institutions that provide credit lines to these categories of applicants. Often additional guarantees will be required or will be proposed ways of restitution of particular capital, such as the assignment of the fifth of the salary . With this solution, the withholding of a sum equivalent to 20% of the monthly salary directly from the payroll is authorized.
This percentage may also rise to 50% in the case of the proxy loan , with which the contractor pays a larger share to cover the acquired loan. As an additional guarantee, the protestors can also offer their severance pay, thus confirming their credit position towards the provider.
When requesting a personal loan, even bad payers and protestors may have better chances of obtaining funding if they are supported by a guarantor . This is a third party that acts as guarantor of the contractor, ensuring the coverage of the monthly installments of the loan in the event of insolvency on the part of the holder. From this point of view, the guarantor acquires the same responsibilities as the applicant, a factor that could consolidate the position of the latter in the eyes of the bank. It will therefore be essential that the guarantor proves that he possesses the resources necessary to deal with any loan costs, such as a salary, a pension or income from financial income.
Lastly, it should be noted that those who manage more loans with different credit institutions can combine them with the loan consolidation solution, a method that allows them to receive additional capital and group the different existing practices under a single loan, characterized by a single interest rate. and from possibly more advantageous conditions. This option can be useful for those who wish to put their credit orders in order, administering the loans in progress in a simpler way and thus making the loans more efficient.