Non-assignment personal loans for protested pensioners.

 

The use of credit through the request for personal loans has now become a solution adopted by many consumers, even by those most in difficulty, and there are numerous financial products on the market: loans for pensioners, protesters and atypical workers now support those more classics dedicated to the most protected employees and workers.

Of course, there is no denying that if you belong to the category of bad payers or protests, it is much more difficult to get personal funding. In these cases, in fact, they are registered in the registers of the risk centers or in the computerized register of Protests which are regularly consulted by the credit institutes before granting loans to their customers, in order to verify their economic capacity.

Are there alternatives to the assignment of the fifth?

Are there alternatives to the assignment of the fifth?

In recent years, however, banks and financial companies have studied ad hoc solutions to grant personal loans to protests and bad payers precisely to meet those increasingly numerous consumers who find themselves registered in the aforementioned registers because maybe they are not managed to pay some installments of a loan in progress or were unable to cover a check or a bill of exchange. It is therefore important to know that it is possible to obtain loans for protested pensioners without the transfer of the fifth or loans for self-employed workers without a paycheck .

Let’s see together which are the most effective solutions.

Protested personal loans: the surety

Protested personal loans: the surety

One of the simplest methods to be able to have access to personal loans even if you are protested, valid for both employees and retirees and for self-employed workers, is the guarantee, or a personal guarantee given by a third party who undertakes to pay the amount due in the event that the applicant cannot cope with it. The guarantor is in fact obliged, in the event of default of the contract holder, to pay the established sum.

Anyone can offer collateral, a relative, a friend or even a simple acquaintance, as long as they can demonstrate a certain income and an impeccable credit reputation.

Loans for protested pensioners: loans changed

Loans for protested pensioners: loans changed

Another very popular solution for obtaining loans for protests without assigning a fifth even if one has protested is the loan promoted by private individuals. It is characterized by the signing of bills at the time of signing the contract, in order to guarantee the repayment of the loan; bills usually have a monthly basis, for a maximum duration of 120 months, and provide for fixed rate interest calculated on the amount.

Bills of exchange are enforceable securities and this allows the beneficiaries of the credit to be able to resort to the attachment of the assets in the event of insolvency by the owner (see also How the real estate attachment ).  The loan promoted for protested pensioners or for self-employed workers without a paycheck can be disbursed thanks to the guarantee of signing the bills only.

Company loan: personal, finalized and with a light tax

Any employee can apply for funding from their employer in the context of the welfare policies that have developed in the private sector. This is a loan classified among the fringe benefits, or “ancillary benefits” that are added to the salary. In addition to funding, these benefits can also be, for example, meal vouchers, a company car, or education and training services.

 

Personal and finalized loan

Personal and finalized loan

Requesting a loan from your employer is always possible. But unlike the assignment of the fifth, which cannot be refused, in the case of intercompany financing, the employer can refuse to grant it . It is therefore more likely to obtain an affirmative answer in medium-large, rather than small, realities. In detail, this is a rare form of both personal and finalized loan : the former has in common the liquidity obtained, while the latter has the motivation. Indeed, the loan application to the employer must be adequately justified. This is an aspect that makes it similar to the finalized loan (tied to a certain expense). Once the go-ahead is obtained, the loan can be disbursed either with company funds or the employer can enter into agreements with traditional credit institutions (banks and financial institutions), sometimes taking on a share of the interest.

 

Rates and interests

Rates and interests

The loan granted by the employer can be of three types. In the first case, the employer can grant us a loan at the mid-market rate; option that can be convenient if we are not entitled to the assignment of the fifth (the employer has less than 16 employees) or if the credit system has denied us a loan. In the second case, you can grant us a loan at a subsidized rate, i.e. reduced compared to the market rate. In this case, the interest rate subsidy makes the loan granted by the employer cheaper than the transfer of the fifth and other forms of personal loan. Finally, you can get an interest-free corporate loan.

 

Light tax

Light tax

In all three cases, from a tax point of view, taxation on loans to employees is cheaper than other loans : only 50% is taxed between the interest rate granted to the worker and the official discount rate, or the average practiced at the time of signing or at the end of each year. Let’s take an example: if the average rate applied on the market of loans similar to those granted to the employee is 3% and the employer pays it at 1%, the taxable difference is 1% on the entire loan, given from (3% – 1%) / 2. As specified by the Revenue Agency, in the case of a mortgage loan, the worker has the right to take advantage of the 19% deduction on interest, relating to the portion remaining at his expense, that is, net of any contribution from the employer.

 

The procedure

The procedure

Usually, large companies have their own corporate loan application form with a logo. But, regardless of the model, the request for financing always contains the same elements : identification data of the employee’s contract, loan amount, repayment period (years and number of installments), reasons for the financing, method of disbursement: the only one since it may be missing that relating to the rate applied which will be determined by the employer as a rule with a letter in which he accepts the loan request.

Pay in installments with revolving credit card and option cards

Pay a purchase with the card and repay the amount in installments. This is the functionality offered by the so-called revolving cards, or installment cards, payment instruments that can be used like normal credit cards but, unlike the latter, they do not provide for a refund of the entire amount spent on balance in the following month to the transaction, but its installment and repayment in monthly installments (which also include the payment of interest).

There are both pure revolving cards on the market, with which therefore the repayment is always in installments, and the so-called option cards, a type that is increasingly common today which allows, at the time of payment, to choose between full or installment repayment.

 

Characteristic of revolving cards

credit cards

Revolving cards fall into the category of consumer credit: the bank or the financial company that issued it grants the holder a credit line, therefore a certain amount that the customer can use even if he has no money on the account, and then repay in installments . Usually these cards allow you to use the credit line not only for the payment of goods and services, but also for the advance of cash with withdrawal from ATMs. As it is repaid, the credit line is automatically regenerated.

These cards were originally conceived for the payment of durable goods with amounts of a certain amount, but in fact they have become a tool to finance even smaller purchases, to face temporary liquidity problems or to plan the own outputs.

Different types of cards with different characteristics are available on the market: in addition to the option cards already mentioned, there are also revolving that allow you to customize the installments. Years ago it could happen that revolving cards were sent directly to the owners’ home even in the absence of a specific request, or assigned together with the loyalty cards of certain retailers, but today the consumer is much more protected because the card must be given separately from other products, carefully illustrating their characteristics.

 

What to watch out for

credit cards

Since the use of the installment card is comparable to a consumer credit form, it is necessary to follow the general rule that applies to all loans, namely to keep an eye on costs.

The main cost item obviously consists of the interest rate paid on the credit line used, which can also be quite high. To this item are added the fee, the costs of the bank statement, the costs of collecting the installments, any fees on withdrawals, any insurance coverage, etc.

To have a summary cost index, as always, it is good to look at the Taeg (Annual percentage rate of charge). It is also important, when making many purchases in installments, to always try to keep a precise idea of ​​the amounts to avoid losing sight of the entity the commitment that is assumed.