Debt Consolidation for Bad Payers: Best Online Loans
In this article we will talk about debt consolidation, and we will see how it is possible to have access to this solution for so-called bad payers. Let’s see what are the best loans available online, with the companies to contact and the conditions offered.
Consolidating debts for bad payers: how does it work?
As everyone knows, to apply for a loan to any bank or financial institution, certain requirements must be met. Among these, one of fundamental importance is that of customer reliability. For this reason, over the years the various financial institutions have created a register in which to report the so-called “bad payers”, those who have not been punctual in payments or who have not paid some repayment installments. For those reporting to the end-to-end knowledge company, the Central Financial Registries, it becomes very complicated to receive another loan, although fortunately there are solutions that still allow you to have access to the desired credit.
One of these solutions is that of debt consolidation. This form of financing has become enormously spread over the last few years, where the purchase of any good or service can be made in installments through consumer credit. From household appliances, to furniture, computers, tablets and PCs, but you can also pay in installments for a holiday, or more comfortably meet the costs for the university, for the dentist or for any medical examination. For this reason we find ourselves to pay each month installments related to different loans, with the consequence that the deadlines could be different, and also some loans may be less convenient than others.
Thanks to the consolidation of debts for bad payers will be possible to unify all our installments in one installment, with the added advantage of being able to extend the duration of the loan by effectively lowering the sum of money to be paid each month to our new creditor. In the event that the customer has been reported as a bad payer, each bank may decide to grant the loan or not according to its own regulation. In general, however, we can say that if you are an employee with a permanent contract, or if you belong to the retired category, then you will almost certainly have no problem getting the desired loan. The guarantee that you have the opportunity to present, that is the paycheck or pension slip, is the best ever for any bank or financial institution.
In this case, in fact, the solution that will be proposed will be that of the assignment of the fifth, through which you will be held back every month 20% of how much you receive your salary or pension. If you are not part of these two categories, then you will have to provide the bank with alternative guarantees. The first option is to mortgage a property owned. In this case, an expert will evaluate the value of your home and the company based on this analysis will decide whether or not to grant the loan. Alternatively, it is possible to present the signature of a guarantor, who will have to possess a pay check and who will undertake to pay all the unpaid installments. So even for bad payers there are valid debt consolidation solutions.
How to apply for online debt consolidation for reported end-to-end knowledge companys
If you are interested in applying for debt consolidation for bad online payers, there are several companies you can turn to, even if you have been reported as bad payers in the past. Postal service Italy offers its customers the Fostal Bank Consolidation Loan. Through this product it will be possible to receive a loan starting from 3,000 euros up to a maximum of 50,000 euros, to be repaid in a number of months ranging from a minimum of 24 to a maximum of 96. To request the consolidation of the debts of Postal service Italy must be resident in Italy, with a work income produced on the Italian territory or with a pension. It is also necessary to hold a Fostal Bank Account or a Postal Savings Account, even if in the latter case the maximum amount that can be requested is 30,000 euros.
Another company that always offers excellent credit terms is Agos Ducato. In this case the request for funding can be sent completely online. The procedure is also very simple and fast, since in a few steps it allows us to request the amount of money we wish. The first thing that is required is obviously the amount, which must necessarily be between € 500 and € 30,000. By clicking on “Calculate the installment” we will present the repayment installments relating to the various possible durations (up to 120 months), and therefore we will choose the one that best suits our economic situation. Once we have chosen the ideal loan for us, we move on to the personal data section, where we enter our telephone numbers, before personal data and economic data. In a few minutes we will have therefore completed our request for the consolidation of Agos debts. As we have already said, the procedure is very simple, and the financing conditions that we will obtain will also be extremely convenient.
The last company we want to inform you about the consolidation of online debts also reserved for bad payers reported to the end-to-end knowledge company is Unicredit. The product presented to us on the bank’s website is Credit Express Compact. By choosing this solution we will be able to unify all our ongoing loans, even if received by different companies, through a loan that ranges from € 3,000 to € 50,000. Regarding the duration, this can be chosen at the time of the request for funding, and must be between 36 and 120 months. To request Credit Express Compact you can make an appointment online, choosing the nearest branch to our house, so as to proceed with the request by bringing with us the personal documents and those related to current financing. The guarantees that we will have to present to the bank in order to make the request are always the same. As specified on the Unicredit website, it is also possible to receive a Credit Express Compact loan by presenting a paycheck or a pension slip.
Mortgages for consolidation of bad payer debts
So far we have only talked about the debt consolidation loan for bad payers. Another very interesting form of financing is also dedicated to the same category of customers. We are talking about the consolidation loan, which is offered by all the major lenders. Let’s see first of all the main differences between the classic loan and the mortgage. In both cases, we are considering the consolidation of current loans as a goal. The most important difference between the two forms of financing lies in the fact that the loan can be requested as previously mentioned by simply presenting an income document. In the case of the loan, a real guarantee is required, which will be the mortgage of a building. So if you do not have a house of ownership you will not be able to choose this alternative solution to the consolidation loan for bad payers.
Why choose the mortgage loan for debt consolidation? The main reasons are two and concern the amount and duration of the loan. If the total amount of debts that you have in progress is quite high, then it may probably be useful for you to choose the loan, which allows you to obtain higher amounts of money without too much trouble. With respect to personal loans, in this case the amount that can be requested is not fixed regardless but depends on the value of the mortgaged property. In this sense, the sum of money we can receive will also depend very much on the credit institution to which we address. Usually, however, the fixed threshold is 80% of the total value, which can therefore mean a fairly large sum of money. In general, however, a maximum amount payable is set at around € 250,000.
Another reason why it may be useful to choose the consolidation loan for bad payers is that concerning the duration of the loan. This is in fact much longer than that provided for personal loans, usually arriving at 20 years and in some cases even at 30 years. So you can choose a longer duration to have lighter installments and complete the reimbursement in total serenity. In order to apply for a loan for consolidation of debts it is necessary that the mortgaged property is free from any mortgage, and is also insured in case of explosion or fire. The other documents that we will have to bring to the branch in order to start the practice are the identity card, the health card and the documentation relating to current funding and that we intend to unify.
Loans Consolidation Bad Payers Autonomous Payers
To conclude our analysis of consolidation loans for bad payers, it is good to consider a particular situation, in which the applicant is not an employee but a self-employed person. As you probably already know, the latter category of customers has more difficulties than the first, because the borrower does not have the possibility to guarantee a fixed monthly income guaranteed by the employment contract. Self-employed workers have in fact a more or less variable income, and for this reason the guarantee they can offer is weaker than the paycheck. In some cases, however, it is still possible to access the debt consolidation loan, even for self-employed persons reported in the past as bad payers. First of all it is good to specify that in this case the maximum amount that can be requested is usually lower than the consolidation loans we have seen previously.
The applicant must be able to demonstrate to the credit institution that he can face the repayment installments envisaged. Considering that funding must be unified in progress, there will usually be no particular problems. The problem could arise if you wanted to receive additional liquidity. In this case a lot will depend on the earnings obtained over the last year. So the economic guarantee that must be presented to the bank will be the tax return (Single Model). On the basis of this document, the company will make the appropriate assessments and define the maximum installment that can be addressed. In the event that the income received is not high enough to allow us to receive the desired additional liquidity, the solution that we can choose is that of the presentation of a guarantor. The latter, presenting the paycheck, will allow us to access the consolidation of debts even if we have been reported as bad payers.