Being bad payers or protesting is not a pleasant condition, but there are ways to get a loan in your situation too. The whole of these words ” protested ” ” protest ” ” bad payer ” this can complicate access to a loan. It certainly puts you in a mental condition of stillness of thought that does not help you to have the right approach to solve the problem.
I know it’s not easy but try “Think Positive” Know that even those who have had difficulty paying a debt and are protested or poor payers can have new opportunities. Doubts are the cause of uncertainties and confusion, remedy them with the right understanding!You can clarify your ideas immediately using our free service that will allow you to get up to 3 free quotes from as many financial ones.
What does it mean to go in protest?
In Law, it is a public act which certifies the presentation of a promissory note or check to the debtor and the refusal by the same to pay or accept the title.
What happens when we don’t pay a debt and what does it mean to be considered bad payers?
When, through a public official, the debtor is asked to honor the debt and he will not pay the amount due, some mechanisms are activated.
Without getting lost in long explanations you can face administrative and civil penalties:
You will face administrative penalties:
for checks, the penalty ranges from 516 to 3098 USD and may increase when the check exceeds 10,329 and in the case of repeated violations. For bills of exchange, however, if they are on a certain date, the protest can be made within 2 working days following the due date, while for sight bills within 1 year from the date of issue.
they result in the payment of default interest which increases with the passage of time and leads to the creditor’s attachment to the debtor’s assets. If you do not pay, you will be entered in the electronic register of protests kept by the Chamber of Commerce or in the databases on creditworthiness, to name a CRIF. You will therefore be a bad payer in the databases and the consequences are easily understood.
How to get a loan? There is a solution!
The best solution would be to heal the debt and know that there is the possibility of requesting the cancellation from the register after payment of the amount due, of course the procedure will be more streamlined if you have the possibility to do so within a year of the protest while later it will be more complex.
In any case it is not impossible to apply for a loan even if you are a bad payer or protested. The solution passes through the request for a non-finalized loan, through the Transfer of the Fifth .
What is the assignment of the fifth?
The assignment of the fifth is a particular type of loan with payroll retention up to a maximum of one fifth of the salary.
As can be deduced from the definition, the fact that the installments are kept directly on the paycheck is a big advantage, in this way, even if you are protested or entered in the databases as bad payers, you can still offer banks or financial companies the security of being able to repay debt. The opportunity offered by this type of loan is basically based on the fact that it is not you who will pay the loan directly but your employer.
So the attention of those who must evaluate whether or not to grant you the credit shifts mainly to the company that will guarantee the retention of the installments from your salary. So even if you are not solvent but you have a stable job, the possibility exists!
What are the basic steps to request a assignment of the fifth?
The process of requesting a transfer of the fifth can be a bit confusing but not complicated and knowing some key elements you can approach prepared a bank or a financial understanding what they are proposing to us.
- Request for assignment of the fifth: to request the assignment of the fifth or to be made a proposal, you will be spoiled for choice, both offline and online. Besides, I don’t know if you have seen the metros covered with dachshunds in Milan. Or if you have searched for protested loans on Google, you will certainly have noticed the various advertisements of banks, financial companies or comparators that offer you TAN, APR and figures. So to get quotes the necessary documents are: identity card and above all the paycheck or the cud if you are retired. The loan providers will be able to ask you further questions to establish your length of work to substantially understand if your source of income is stable.