In relation to a discourse concerning the scope of the loan request, many times we hear about the term “bad payer” in relation to a given type of applicants.
But to what exactly is this nomenclature certainly not positive and what are the characteristics of the people who are cataloged with this label? Let’s find out together.
Bad payers: who they are
Bad payer is defined as anyone following a series of different events such as:
- Failure to pay 3 installments for a loan, a loan or a loan
- A delay of more than 2 months regarding the payment of a mortgage payment, a loan or a loan
- The issue of overdraft checks
it is then reported to the central credit regulators or the relevant bodies to which banks and financial companies are directed in order to verify the credit position of the customer who wants to request approval for a loan or a mortgage.
What it means to be classified as a bad payer
Being classified as a bad payer means obtaining mistrust at the discretion of a credit institution when applying for mortgages, loans or loans, which will be granted with greater difficulty if not denied, as the client will be deemed unable to faced with the agreed financial commitments.
Can the reputation of a bad payer be remedied?
The Risk Centers are in charge of keeping track of the defaults committed by a bad payer for a period of 3 years and it will not be possible in any way to request the cancellation of negative information.
However, as part of the loan request, there are some types that allow access to the application even to those who are classified as bad payers.
Loans for bad payers
Bad payers cannot have access to common forms of consumer credit but there are still 3 types of loans allowed to them:
LOAN WITH GUARANTEE: this is a consumer credit loan which includes the presence of a second person, who undertakes to pay the installments in the event of default by the principal.
This mechanism offers guarantees to the banks given precisely the presence of a guarantor or a subject without protests, bankruptcy, which is not itself a bad payer, with a documented income or assets pledged for attachment.
CHANGEOVER LOAN: The debtor subscribes the payment through executive securities such as bills of exchange. In the event of non-payment, the finance company reserves the right to protest the bad payer using the bill of exchange with a protest on income or attachment.
ASSIGNMENT OF THE FIFTH: according to this particular formula, the payment of installments is automatically deducted from the pay packet by whoever is a bad payer but still has a permanent employment.
To collect an estimate concerning a possible loan formula for bad payers, it is now possible to use online channels.
In fact, via the internet, it is certainly more simple and immediate to be able to identify financial companies proposing specific loans for bad payers or institutions able to provide money against the sale of the fifth.