How To Find A Loan For Bad Payers Without Guarantor
Anyone who has applied for a loan and for whatever reason has not been able to pay off part or all of the debt will surely have a bad credit history, the consequences of which can lead to many difficulties in obtaining a new loan. This is because all banks and financial companies carry out checks on the applicant and if there are negative elements the chances of obtaining new liquidity are lowered. Fortunately it is not impossible, although difficult. In fact, there are also loans for bad payers.
But why do those who have to provide the loan consult the databases? Quite simply because they want to know who the sum of money will go to and if the applicant will be able to pay off the new debt. Those who are considered bad payers, because they have had difficulty in paying off a debt, will be considered less reliable.
Loans to bad payers
For the request of loans to bad payers, it is not said that the consultation of the databases are treated in the same way. In fact, the consultation of crif, experian etc., for example on the payment of an installment with a few days of delay, will not be considered high risk or comparable to many installments that have expired and are still to be paid.
To make the risk decrease, banks and financial companies can request a second signature, a guarantor or co-obligation.
In the event that it is not possible to insert additional guarantees such as the guarantor, it will always be possible to lower the risk simply by decreasing the amount requested so that the installment to be paid falls within the monthly income installment report.
Considering that each institution applies different delivery policies, the request made is not rejected by one bank and approved by another. The very important aspect in this regard is not to make requests simultaneously or within a few days, and if a refusal is obtained it is good to ask for the release letter and above all to investigate the reasons for the refusal.
We conclude with a practical example that summarizes what has been said about loans for bad payers : If I go to the bank to request a loan and the request is rejected I will immediately ask the reason for the refusal and at the same time the release letter certifying the NON continuation of the loan. Only after having received the letter will I be able to go to another institution explaining the situation in detail and delivering the letter together with the documentation requested by the bank.