Here You Can Find Personal Loans

Personal loans for self-employed and self-employed are a possibility of funding open to all those who do not have income from employment and therefore require personal loans without paychecks : the range of products made available by banks and financial companies is less extensive , but this does not mean that there is a lack of good opportunities for those who can still offer a sufficient certification of income and precise purposes at the time of the request to get the go-ahead. Let’s see what are all the loans proposals for self-employed and freelancers available on the credit market, also contemplating alternative ways to traditional bank financing such as social lending.

Content index

  • Personal loans for freelancers, what are they?
  • Personal loan for self-employed, documentation
  • Loans for self-employed and freelance professionals with guarantor
  • Loan for self-employed and self-employed professionals in 24 hours
  • Loan between private individuals
  • Personal loans for bad payers
  • Alternatives for self-employed and freelancers

Personal loans for freelancers, what are they?

Personal loans for freelancers, what are they?

First of all, let’s briefly clarify what a personal loan is for self-employed and freelancers: fundamentally it is nothing more than a loan for all those who do not fall into the category of employee, but they do carry out an independent profession. Not being able to certify income from fixed income and demonstrable, these loans are in the loans without paychecks , which indeed do not deviate much from normal personal loans: basic

the documents to be delivered to the credit institution will always be the same, with the single model or 730 instead of the last two pay slips that usually require the financial as proof of income. In addition, personal loans for freelancers are open to further solutions for specific purposes, such as loans to renovate their home or business, or others closely related to their profession. The council is, therefore, to specify to the bank the purposes for which a sum of money is required, in order to be able to find together the credit product that best suits your needs.

Personal loan for self-employed, documentation

Personal loan for self-employed, documentation

What do you want to do? We summarize the documentation to be submitted to the credit institution necessary to obtain access to personal loans, which provides:

  • Valid identity document, such as an identity card
  • Tax code or regional health card
  • Documents proving the income, such as the tax return or the Unico model, and in addition may possibly provide additional documentation such as a business plan, a customer list, a copy of the invoices, and anything else that may be required by the credit institution to purposes of the evaluation process.

This is the basic documentation, but depending on the individual profile and the type of request on the part of the subject it may be necessary to present further documentation, such as  certifications and certifications that serve as justifications for the expense in case the sum of money requested is for professional purposes: this is the case, for example, a restructuring estimate or a purchase order for a machine, and so on.

Loans for self-employed and freelance professionals with guarantor

Until now we have considered loans for self-employed and self-employed people who involve subjects with a sufficient demonstrable income, but in some cases, being non-payroll funding, the risk policies of a credit institution or finance company would not allow the disbursement the amount requested, therefore the intervention of a guarantor is necessary. This means that self-employed and freelancers can resort, in case of insufficient income, to personal loans with guarantor that work in the same way of products reserved for those who, in the absence of the necessary requisites, even with an employment contract, must recur to the guaranty. The guarantor

is a third party who is able to take over the principal debtor in the event of non-payment of a loan installment: this means that the guarantor (or guarantor) must have a sufficient demonstrable income, free from other loans in progress and that does not turn out to be a bad payer. On the other hand, on the other hand, if the figure of the guarantor is not required or unavailable, it could lead the bank to request a further form of collateral, such as a mortgage on a house or a pledge on a registered movable asset.

Loan for self-employed and self-employed professionals in 24 hours

For those who need to obtain a sum of money quickly there is also a loan for self-employed and self-employed in 24 hours, a type of financing that belongs to the category of so-called fast loans , which as can easily be seen from the name as their own peculiarities a short time compared to other forms of personal loans, which usually take between 3 and 5 working days. Moreover, it is also important to consider that in order to obtain any personal loan it is necessary to show the certification of your monthly income or the paycheck, and in the case of the self-employed it is impossible, as it does not possess it, but can show the income tax return annual as a form of income certification. The personal loan for self-employed or self-employed workers obtainable in 24 hours provides for the disbursement

of a capital of between approximately € 1000 and € 50 thousand , an amount that may vary on the basis of the annual remuneration submitted to the bank during the valuation process, and which can be disbursed in one working day , with an amortization schedule of up to 10 years, or 120 monthly installments . This type of fast financing is usually requested online, through special forms on the websites of the banks that allow you to get these fast loans for self-employed and freelancers, but alternatively, you can also go directly to the branch you want to apply for a personal loan.

The loan between private individuals

Loan between private individuals

An alternative for those who do not want or can not resort to a traditional bank is the social lending, or the loan between individuals via the web, which is experiencing increasing success in recent years thanks to the development of new digital technologies. This type of product is offered by specific online platforms authorized by the Bank of Italy, as Smartika or Prestiamoci to mention the most known carriers including those operating in our country, which allows private investors and those seeking a loan to meet virtually: once the go-ahead has been obtained, the beneficiary arrives the sum of money in his current account, sum consisting of what was made available by many small investors.

The beneficiary of the loan between individuals returns the sum normally through direct debits on the current account and is the same brokerage company, which also acts as guarantor and collection agent in case of non-payment of monthly installments, to then provide for reimbursement for the single lender who can earn through interest. The benefits of social lending are fast delivery times and competitive interest rates, and a freelancer or self-employed person who can count on a good income has more opportunities to get a high rating, and therefore more likely to enjoy financing costs somewhat downs.

Personal loans for bad payers

Personal loans for bad payers

As for employees, it can also happen to self-employed and freelancers to be reported as protested or bad payers because of a simple mistake: this involves reporting in CRIF, the data store consulted by the Italian market to assess the reliability of the applicant, and the consequent greater difficulties in having access to the credit necessary to meet their needs. Fortunately, as they apply higher funding conditions and require stricter requirements because of the increased risks, banks provide personal loans for bad payers and protested through the presentation of more guarantees, as a third party guarantor that allows endorsement or surety, or more real guarantees such as mortgages and pawns. At other times a credit institution to protect itself more will grant a lower amount or with shorter payback times: in short, personal loans for bad payers are also possible for self-employed and self-employed, but there are no other alternative routes.

For example, a protested or bad payer can resort to the loan being changed, or a loan through bills of exchange that allows you to get the sum of money by paying the bills instead of the usual monthly installments in the amortization plan. The difference is that the bills are executive debt securities that will allow the bank to be able to easily recoup the assets owned as collateral of the debtor if he is unable to pay the amount due.

Alternatives for self-employed and freelancers

Are other alternatives to personal loans possible for self-employed and freelancers? In addition to the classic personal loan, the professional loan and those with guarantors, it may be useful to have access to other types of products, such as a current account credit for the management of one’s own professional liquidity, a credit card with a ceiling, or a ceiling , which allows you to comfortably make the planned expenses, or even a mortgage loan .

Personal loans and communion of assets

When you are preparing to apply for a loan, the credit institute among other things wants to have information on the client’s civil status: personal loans and asset communion represent an important combination for the purposes of the assessment, since the marriage bond and the chosen regime for the assets in common between the two spouses inevitably influence the applicant’s balance sheet. A bank or finance company will always consider very carefully the two different hypotheses, or separation or communion of assets , both in order to ascertain the real equity of those who request financing, but also to acquire collateral guarantees to protect it. insolvency case for non-payment of installments. So let’s see what entails the communion of goods in the context of personal loans , what they provide in this regard the rules of the civil code governing this type of relationship and how the debt situation is regulated.

Content index

  • What is the communion of goods
  • How does a property commune influence a loan?
  • Loan with communion of assets: documents and clauses
  • Who answers the debts in communion of goods?

What is the communion of goods

As we anticipated, during the evaluation process the bank ascertains the status of the requesting natural person and, if the latter appears to be married, must check, by means of a copy of the marriage certificate, whether there is a regime of separation of assets or communion of assets between spouses, an aspect that will inevitably affect the financial and economic situation of the subject. While with the regime of the separation of assets each spouse responds to the obligations assumed only with its own assets,

the communion of goods implies that any good purchased by each spouse, even separately, is to be considered as property of the other spouse, and therefore part of the right in communion.

According to article 177 of the civil code they are part of the communion:

  • Goods purchased together or separately during the marriage
  • Income of the property of each of the spouses, received and not consumed upon the dissolution of the communion, such as revenues resulting from the rent of an apartment that was owned by one of the two spouses before the contraction of the marriage
  • Income from the separate activity of each of the spouses and not consumed upon the dissolution of the communion, such as salaries and professional fees
  • Companies managed by both spouses and established after marriage . If the companies belong to one of the spouses before marriage, but are managed by both, the communion only concerns the profits and increases

How does a property commune influence a loan?

How does a property commune influence a loan?

If the situation of separation of assets is relatively simple, the status of the applicant that is conjugated with the communion of goods is more complicated for the provision of a personal loan : for this case the norm of art. 159 of the civil code that regulates this property regime. For the credit institution, the issue is linked to the assessment of the impact on the applicant’s assets, since the amount of a loan, especially if granted to natural persons, is always commensurate with the value of the assets included in the assets. In this way, the bank, in order to protect the money granted, is informed about which movable and immovable property can be recouped in the event of insolvency of its client, according to the risk policies of its own institute. From this point of view,

the bank or finance company that grants the credit tends to favor the stipulation of the loan agreement by both spouses, so as to be able to claim, in the event of insolvency, the assets subject to communion.

Loan with communion of assets: documents and clauses

Loan with communion of assets: documents and clauses

Which documentation in case of personal loan with communion of goods ? Generally, the bank will request the following documents from the spouse in communion regime:

  • The subscription by co-obligation of the other spouse
  • The acceptance of both to the derogation of the art. 190 cc

This derogation to be signed is a clause expressly authorizing the body that provides the credit to act primarily and not as a subsidiary of the personal property of each of the spouses. But if the spouse of the applicant would not want to be involved up to this point? There is another option that can be offered to the bank, which is a simple guaranty from the spouse, although it seems fair to point out that not all lenders accept this alternative solution, since in that case the financial institution could only seize the assets personnel of the spouse entrusted and the personal property of the guarantor, while the assets of the communion would be eligible only in the alternative and with priority reserved for the creditors of the communion.

In the event that the loan is requested by both spouses, the bank becomes a creditor of communion without anything else to object, and therefore the personal property of the spouses would be seizable only at a later time.

Who answers the debts in communion of goods?

Ultimately we see what happens if the debts are contracted by a spouse separately, but in the interest of the family : in this case the spouses answer first with the goods of the communion, and then with the personal ones, according to what is regulated by art. 191 of the civil code. This means that

the creditors first revoke the assets belonging to the communion, and in case they are insufficient the debt would be reimbursed through the assets of the only spouse who has contracted it. If the assets of the contracting spouse were still insufficient, only then could the creditors seize the assets of the other spouse, up to a maximum of half of the credit .

Personal loans with CUD

Apply for personal loans with CUD is an option for all those who do not fall into the category of permanent employees, and who instead of the last two paychecks can therefore attach this certification of income to the application for funding. in addition to the tax code and the identity document, for the purposes of the assessment of the bank. Therefore we can say that personal loans with CUD are open to freelancers and self-employed, which in case of a good income can also avoid having to resort to additional guarantees to get the long-awaited green light to disbursement: in detail we will see how These loans are characterized by CUD and what are the ways to circumvent the possible limitations deriving from the absence of paychecks.

 

Content index

  • What is the CUD
  • Personal loans with CUD and without paychecks
  • Are these loans convenient?
  • Can the CUD alone be enough for bad payers?
  • In extreme cases, use the guaranty
  • And if you do not have guarantors? The loan is changed and that between individuals

What is the CUD

First of all, we clarify what is this document attesting income: the CUD is the official document that certifies the income received by the employee, pensioner or self-employed in the fiscal year taken into consideration: this model is delivered by employers, substitutes of tax, pension institutions and work commissioners to the worker or pensioner so that he can subsequently fill out his tax return. Credit institutions and financial companies

they generally favor the presence of the last two paychecks to provide funding, but in the case of subjects that do not fall within the specific case of employees, the Unico model or the CUD, which are notoriously known as loans without an envelope, can also be used. pay .

Personal loans with CUD and without paychecks

Personal loans with CUD and without paychecks

To sum up, for self-employed workers and self-employed professionals it is possible to apply for personal loans with CUD or with the Unico model to be presented as a guarantee instead of paychecks, provided that the income received proves to be sufficient as a guarantee for the requested amount. credit institution or finance company finds this certification to be insufficient, and therefore requires further guarantees, such as for example

real estate on which to put a mortgage , or a third party guarantor as guarantor , especially if the amount requested is of a high amount. Vice versa for small loans and fast loans, two financing formulas designed specifically for those who need small amounts with a certain urgency, the CUD alone could be sufficient along with the tax code and identity document attached to the application for funding to obtain the free way on the part of the bank to supply.

Are these loans convenient?

Are these loans convenient?

Are personal loans without paychecks cheap? It is not easy to give an unequivocal answer to this question, since the level of income and the previous creditworthiness of the subject are also weighed. For a personal loan with CUD, as for any other financing, what makes it attractive and convenient for the beneficiary is the interest rate applied, which together with the other costs associated with the loan should not be excessively burdensome: however the higher the risk profile for the bank, the more these cost items are affected that will impact on the convenience of the loan. This means that if the subject still has a sustainable income level for the amount requested, a past without being reported bad payer, and so on, then he can find convenient offers of personal loans with CUD. On the other hand, it is good to know that the interest rates of these loans can go up very much, reaching even more than 12% at TAEG.

Attention when you look for this type of offers, especially via the web, because it is easy to run into proposals to the limit of usury, if not even in real scams: experts advise not to be induced into temptations by proposals for financing that promise loans without pay and without guarantees for high amounts. Rather it is advisable to contact a tax consultant in the event that you can not get a good rate of interest by proposing a loan with CUD, to study alternative solutions if necessary.

Can the CUD alone be enough for bad payers?

A separate case is the so-called protestants and bad payers , who having a precedent from reported in the data files consulted by the financial, can try to apply for funding through the institution of the guarantee, ie through a third party that acts as guarantor, the which, in addition to having a certain and demonstrable income, must not in turn be reported as bad payer in Crif. The only loans also accessible to bad payers are those paid out

through the assignment of the fifth , or offering as a guarantee the severance indemnity, or the severance pay, as there is a direct withholding of the repayment installment by the employer or the pension institution that runs it directly to the financial, for a maximum of 20 percent total income. Given the nature of the formula, the assignment of the fifth can only be requested by pensioners and employees , so those who try to apply for personal loans with only the CUD as an income document will not be able to access this financing formula.

In extreme cases, use the guaranty

As anticipated, reneging on loans without paychecks the interest created by the fixed revenue from the employee salary, in the presence of an income is not too high and the CUD only need additional guarantees would be presented to the bank so that we can get funding. In these extreme cases it is good to resort to the surety , thanks to which a third party comes into play as a guarantor who takes over the loan in solidarity, replacing the principal debtor, ie the holder of the loan, when he should skip payment of installments.

To obtain the green light for a loan with a surety it is important that this third party guarantor has an impeccable creditworthiness, without reporting to the databases as a bad payer, and at the same time has sufficient and sustainable income for the sum requested. This is because in fact, in the event of failure to pay the repayment installments, the bank can claim directly on the guarantor.

And if you do not have guarantors? The loan is changed and that between individuals

And if you do not have guarantors? The loan is changed and that between individuals

And if you do not have guarantors? In this case there are two extreme solutions. One of the most adopted for those in this situation is certainly the loan that has been changed, which requires payment of bills instead of amortization installments. Its peculiar characteristics are summarized:

  • Duration ranging from 6 to 60 months
  • Single signature without guarantors
  • Delivery in a few days by bank transfer or cashier’s check

For those who do not want to sign bills, they can try to make use of private loans via the web , using the authorized platforms that act as a meeting point between people, who make their capital available and then receive interest payments from the monthly installments paid by the beneficiary of the loan. A financing solution with an increasing success in recent years thanks to the strong development and dissemination of new digital media.

Single-signature personal loans

When we speak of personal loans with a single signature, we generally refer to all those loans for which the simple signature of the holder is sufficient to obtain the go-ahead for the payment of capital, without having to resort to an additional personal guarantee represented by a third party guarantor acting as guarantor, thus replacing the principal debtor in the event of failure to pay the repayment installments. In principle, therefore, we can agree that all personal loans and salary and retirement allowances are single-signature personal loans : let us look at the essential financing conditions in detail and what difficulties may arise in order to obtain them, therefore requiring the guarantor in these cases.

Content index

  • How much can I get with single-signature loans?
  • Loans with assignment of the fifth
  • Loan for self-employed workers: what difficulties?
  • Loans to protested and bad payers
  • Unsecured loan: when only the applicant’s signature is sufficient

How much can I get with single-signature loans?

How much can I get with single-signature loans?

So, as we have anticipated, the single-sign personal loan is the finalized or non-finalized standard loan that allows to obtain a certain amount, to be repaid through a classic amortization plan with monthly installments to be paid with bills or by bank transfer, or by transfer of the fifth, ie with direct deduction of the agreed installment by the employer who turns it over to the bank. But how much can I get with a single signature loan? The main feature of single signing personal loans

it is linked to the maximum amount payable without additional additional guarantees, or up to 30 thousand euros to be repaid by paying monthly installments of a fixed interest rate. This fixed rate offers the certainty that the amount to be repaid together with interest is stable over time and not subject to market fluctuations.

Loans with assignment of the fifth

Loans with assignment of the fifth

Most of the individual signed personal loans requested by the employees are granted by means of the formula of the assignment of the fifth , whereby the monthly repayment of the repayment plan is repaid by deduction from the net salary. The transfer of the fifth presents an undoubted series of advantages, first of all the almost certainty of having the go-ahead from the bank phase of request, also also the bad payers can obtain the payment of the sum thanks to the certainty of the assignment of the fifth by the employer of work. Speaking of these loans reserved for employees must in any case make a distinction between funding required by private employees and loans for civil servants: in this second case the employee has access to funding more easily than those who work at an ‘ private company, having the State to act as guarantor.

Another category that can access these single-sign loans with the assignment of the fifth is the pensioners , who can obtain capital at decidedly advantageous rates, by virtue of the agreements signed with INPS. The only simple difference compared to the loans reserved for employees is that the monthly payment is deducted from the social security and paid by the pension institution in the financial coffers: on the other hand there is the compulsory subscription of a life insurance policy to protect the loan.

Loan for self-employed workers: what difficulties?

Loan for self-employed workers: what difficulties?

The provision of personal loans with a single signature becomes more complicated when it comes to self-employed workers , who can not access the assignment of the fifth, and must still have a sufficiently sustainable income to get the go-ahead to a loan without having to resort to further guarantees. The situation becomes even more difficult in the case of a bad self-employed payer, who being able to offer as a guarantee only his work without the guarantee of the paycheck, and having also a precarious financial reliability in case of a report in the databases, it will be difficult have the go-ahead to finance.

In general, however, the personal loans granted to the self-employed are single-signature , whether it is targeted loans or non-finalized loans, but if the sum requested is particularly high or if the guarantees related to self-employment alone are considered insufficient it could often an additional guarantee is required, such as a mortgage on a property owned or more commonly a surety.

Loans to protested and bad payers

As we anticipated, applying for a single loan could become particularly complicated when you enter the field of protestors and bad payers : the former is defined as having suffered a protest for an uncovered check or an unpaid bill, while a bad payer he is the one who has had problems repaying a loan in the past, and has been reported as a bad payer in the Crif archive, consulted by all financial corporations and credit institutions when assessing the creditworthiness of an applicant. In common they both have one thing: the difficulty in obtaining loans and financing, especially if they are single-sign.

As we anticipated, the exception could be granted to employees , who may be able to access single-sign loans even if the credit history they have behind is not exactly immaculate, thanks to the sale of the fifth: and otherwise ? There is some residual hope of personal loans to bad payers without a fifth sale , but it is very difficult, especially if we are talking about single-signature loans.

Unsecured loan: when only the applicant’s signature is sufficient

When the applicant’s only signature as a guarantee is sufficient, we find ourselves in front of an unsecured loan , as defined by a whole branch of products offered by credit institutions in which the presence of a guarantor is not necessary. In addition to personal loans and those finalized there are offers of unsecured loans are mainly dedicated to craftsmen, small and medium-sized businesses and VAT account holders who need financial resources: it is a form of financing that

provides for the absence of guarantees, an aspect that allows easier access to the provision of capital: it is another example of personal loan with a single signature, but does not exclude the verification of certain characteristics of the applicants by the financial. In fact, it is always necessary to demonstrate a solid creditworthiness and a sufficiently sustainable income for the amount to be requested from the bank.

There are three types of unsecured loans:

  • the Classic option, which allows obtaining a loan without income guarantees at fixed or variable interest rates
  • the option with Deferred Depreciation , which allows you to postpone the repayment of the first installment
  • the option with Heavy Installment that allows the company to repay a portion of the loan in monthly installments and the remaining amount through the payment in a single solution, defined precisely “heavy installment”

Personal loans referred to as Crif: loans for those who are reported as CRIF

Personal loans referred to as Crif are a real possibility for the so-called bad payers, although certainly financial companies and credit institutions are not inclined to grant loans to those who do not have a good credit rating, but fortunately there are some formulas that allow more easily provision of loans to bad payers.

Whenever we ask for a loan, the relevant information is transmitted to a database that is consulted by the financial: for this reason personal loans to reported Crif have the same difficulties for those who have suffered protests and foreclosures, but thanks to the presence of a guarantor or through the formula of the assignment of the fifth it is possible to get around the obstacles and get the green light to the financing.

Content index

  • Crif signaling, what is it?
  • Crif database, time spent
  • Loans to reported Crif with assignment of the fifth
  • Loans with delegated payment to reported Crif
  • Loans for pensioners reported Crif
  • Solutions without fifth sale
  • Are there any solutions with bills?
  • Loan between individuals for reported Crif
  • Conclusions

Crif signaling, what is it?

The acronym CRIF indicates the Central Financial Intermediation Risk, and is the private company that manages the SIC, ie the Credit Information System , also known under the name Eurisc . This system, as we have mentioned, is

a real database , made up of information from all lending institutions, which allow banks struggling through the process of applying for funding to assess the credit profile of the applicant, and whether it has sufficient reliability to obtain the free way.

The credit information available to banks and financial institutions can therefore be both negative and positive in nature, certifying whether the individual is in good standing or not with payments, and consequently whether it is considered reliable or not from the point of view of risk profile.

Crif database, time spent

Crif database, time spent

The deletion of data in the SIC , both positive and negative, occurs automatically after a certain period of time, according to these times and methods:

  • 6 months from the date of loan application for loan in progress
  • 1 month from the refusal or renunciation of the loan
  • 36 months from the date of termination of a loan repaid correctly
  • 12 months from the regularization notice of a late payment of one or two installments, provided that in the aforementioned period the repayment is regular
  • 24 months from the regularization notice of a delayed payment of three or more installments, provided that in the aforementioned period the repayment is regular
  • 36 months from the date on which the loan is repaid for loans that have not been repaid or have been in default, or from the date on which the bank or financial institution sent the latest credit data update.

Loans to reported Crif with assignment of the fifth

Loans to reported Crif with assignment of the fifth

We can now analyze in detail which personal loan products reported in Crif are made available for bad payers, through financing formulas that are able to guarantee the necessary protection for the provider. The easiest way for those who are negatively registered in the Crif database to obtain a loan is to request loans with a fifth transfer or with the so-called payment proxy . To request the assignment of the fifth
you must be employed in the public and private sector or retired , while it can not be requested by self-employed workers. With this method of reimbursement, the monthly payment is retained directly by the employer or social security institution and paid to the credit institution that provides the loan: it is defined as the fifth transfer because the amount can not exceed one fifth of the total income received by the salary or pension allowance.

Another limitation to take into account about the sale of the fifth concerns the income of the applicant, especially in the case of retirees, which must fall within the minimum survival limit that the state fixes each year around 500 euros, net of the deduction of the installment monthly repayment.

Loans with delegated payment to reported Crif

Loans with delegated payment to reported Crif

In addition to the normal transfer of the fifth, there is the possibility of requesting personal loans to the Crif with the delegation of payment, exclusively reserved for employees to obtain even more liquidity than the normal transfer of the fifth, repaying a maximum of 40 per month. one hundred of the total, and therefore this double-fifth-salary loan is also defined. The delegation of payment is not a right of the employee as the standard assignment, but can be requested by

State employees in the public sector and private employees with at least 4 or 5 years minimum service age, or alternatively with an employee severance indemnity provision (TFR) or with a supplementary pension fund, considered of sufficient magnitude.

Loans for pensioners reported Crif

Retirement loans reported in Crif are possible, but this category of subjects has only the loan with assignment of the fifth available, while it is not possible to access the payment proxy. However, if retirees need additional liquidity, they can apply
the renewal of the assignment of the fifth , so as to lengthen the loan term and at the same time lower the monthly payment. Loans for retirees with a fifth sale are covered by a mandatory life insurance policy , which protects both the bank and the heirs of the deceased in the event of early death of the holder of the loan, the cost of which is usually borne by the borrower .

Solutions without fifth sale

As we have seen, to grant this type of loan if Crif has been reported, the formula for the sale of the fifth is decisive, since the risk policy of banks and financial firms hardly makes it possible to grant loans to those who for various reasons turn out to be a bad payer. However it is not impossible to obtain personal loans for Crif reported without assignment of the fifth , but in this case we require or further real guarantees to the client, or more easily
a third party guarantor acting as a co-obligor, who assumes the obligation to reimburse the financing body in case of non-payment of the monthly installments by the legitimate debtor. It is a formula that technically takes the name of a surety . However, there are other alternatives for those seeking personal loans to reported Crif, although the necessary and sufficient condition to practice such roads often proves to have a co-obliged guarantor: let’s see what these alternatives are.

Are there any solutions with bills?

A good alternative for those looking for personal loans for reported Crif without payroll, and therefore can not access the assignment of the fifth of salary, is the loan changed, a loan that is repaid through the payment of bills instead of the normal bulletins or the debit on the current account. The presence of bills of exchange may however not be enough as the only form of guarantee for the bank, which may also request a third guarantor as guarantor before granting the loan. We remember that
the bill is an enforceable title and in the event of insolvency the lender may request the attachment of assets owned by the borrower. Upon payment of each bill, the bank sends the debit certificate to the debtor of the balance, which is in fact a monthly installment to repay the loan.

Loan between individuals for reported Crif

Loan between individuals for reported Crif

As a last resort, for those who can not resort to the sale of the fifth can take advantage of the so-called social lending , which is nothing but the revised version and correct at the time of new technologies of private loans: subscribing to one of these social lending platforms can try to get

loans for reported Crif at competitive rates. However, this does not mean that such social lending platforms do not require guarantees to protect their investors before granting funding, so it is always necessary to carefully read the financing conditions and understand if this is the best solution for your case.

Conclusions

The disbursement of this type of financing undoubtedly poses a series of obstacles related to its condition of bad payers, which closes the door to normal access to credit.

It is clear that we must make distinctions between those who can still enjoy a certain income from work, and those who seek personal loans without a paycheck , being a freelancer or self-employed, and in both cases can not expect cancellation from the bank data for a delayed payment, even for a simple mistake: in the first case the solution of the assignment of the fifth salary, or pension allowance in case of pensioners, is a convenient, effective and easy to assent solution for a bank, just have minimum income requirements, and for a salaried employee there is even the opportunity to delegate payment.

But for everyone else? It is clear that the solutions are shrinking, and although you can try to borrow with bills or private individuals, often even for these solutions it is really necessary to have a guarantor as guarantor , otherwise it is very difficult to get the green light to supply of the financing.

Personal retirement loans: transfer of the fifth for retired people and better offers

Personal loans to pensioners are an increasingly tangible reality of the Italian credit market, with banks and financial companies offering the opportunity for those who have left the world of work to obtain a sum of money in order to meet their needs personal or family, being able to take advantage of special agreements with social security institutions that bring in interest rates more advantageous than those of “normal” personal loans. The formula used by credit institutions to provide personal loans for retirees is that of the transfer of the fifth : let’s see together in detail everything about this type of financing and possible alternative routes.

 

Content index

  • Personal loans to retirees with assignment of the fifth
  • The advantages
  • Who can not access the assignment of the fifth
  • Documentation and conditions
  • Is insurance mandatory?
  • Is there an age limit?
  • Loans to protested pensioners who are bad payers
  • Loans for pensioners with a minimum pension
  • Loans to pensioners with disability
  • Solutions with guarantor
  • Retired loans with proxy
  • What is the alternative to the sale of the fifth?

Personal loans to retirees with assignment of the fifth

Personal loans to retirees with assignment of the fifth

The pensioner who turns to a bank or finance company to apply for a loan can obtain a personal loan through INPS with the assignment of the fifth social security allowance: this means that

the monthly repayment of the capital provided is made through a deduction of the monthly amount received which can not exceed one fifth of the total amount , or 20 percent of total income, directly on the current account.

Personal loans to retirees with assignment of the fifth have a number of advantages and also some disadvantages: let’s see what they are.

The advantages

The advantages of a loan to pensioners with a transfer of the fifth can be summarized in these points:

  • High probability of obtaining the loan
  • Easy access to credit
  • Fixed interest rate and fixed rate
  • Loan duration up to 10 years with repayment plans in 120 monthly installments
  • No brokerage fees
  • Automatic payment through retention on the pension, without having to remember the deadlines and incur the risk of oversights
  • Possibility of granting for those who have had past difficulties in accessing credit, a report on the list of bad payers or received foreclosures or complaints
  • No motivation for which funding is requested
  • No mortgages or collateral requests
  • No need for a guarantor
  • Possibility of renewal or request of the transfer even in the presence of other loans in progress
  • Possibility of early repayment of the debt
  • Protection of insurance against premature death and loss of work

Who can not access the assignment of the fifth

Among the advantages indicated, we indicated the ease of access to credit, but this is true only for pensioners who have sufficient income to be able to pay the deduction of the fifth pension benefit. In fact the current legislation is very precise in establishing that

the pension received by the pensioner after deduction of 20% of the amount foreseen in the amortization plan must never fall below a certain threshold, the minimum survival threshold set each year by the State.

This limit, set at around € 500, has been set up to prevent the pensioner from becoming overburdened by not being able to cope with daily needs. Therefore it follows that those who receive the minimum pension or the only invalidity can not access a loan with a transfer of the fifth , and will have to resort to other financial alternatives.

Documentation and conditions

To request personal loans for retired persons, you must present a copy of your ID, tax code and pension slip to the credit institution to certify your income: depending on the individual case it is possible that the financial institution requires additional documentation, before giving the start of the evaluation process which will then lead to the payment of the requested capital. The conditions for loans to retired persons with the transfer of the fifth envisage

a maximum amount that can usually be set at 50 thousand euro , and the total duration of the loan must be between 24 and 120 months, but in any case subject to the applicant’s personal data. The interest rate applied to the loan is always fixed, in order to keep the installment constant throughout the repayment period, and is usually lower than the average applied for normal personal loans. The loan also includes the signing of a life insurance policy.

Foreign citizens , both EU and non-EU citizens , can also obtain a retired loan with a fifth assignment, but in addition to the standard documentation, a permanent residence permit or a certificate attesting residence in Italy for at least 5 years is also required.

Is insurance mandatory?

Next to the amortization plan with the assignment of the fifth, credit institutions that provide personal loans to retirees have their clients sign a mandatory life insurance policy at the time of signing the contract. This insurance represents

a double protection, both for the bank, which obtains sufficient guarantee for the capital provided, but also for the pensioner, who in the event of early death sees the debt pay off without it falling on the heirs.

Life insurance undoubtedly involves a greater disbursement for the customer, but thanks to the agreement signed between Inps and the banks, the interest rates applied to the entire loan remain very affordable.

Is there an age limit?

In spite of those proposing retirement loans without age limit it must be said that most of the credit institutes operating in the sector tend to give their assent to the funding to subjects who are up to 75 years of age. However, there are also exceptions on the registry variable, which however modify the basic conditions of the loan: first of all

the interest rate is higher than the one granted with the assignment of the fifth, therefore it may be economically less advantageous, furthermore in addition to the standard documentation a medical certificate is required in which the good health of the applicant is attested , before giving the go-ahead for the loan application.

However, we remind you that not all credit institutions are willing to grant loans to pensioners over the age of 75 , so it is necessary to consult several banks to obtain estimates and assess the overall economic impact of the operation, as the rate for reimbursement as we said higher.

Loans to protested pensioners who are bad payers

Loans to protested pensioners who are bad payers

Is it possible to get loans for retirees who ended up on the list of bad payers, protestors and foreclosures? Usually these subjects have difficulty in returning to the credit market, in particular those who have paid one or more installments of a loan late , when they are reported to Crif, for a certain period of time they can be refused a loan request even if they can satisfy the normal conditions required by a bank: remember that the so-called protestants are registered in the Register of Protests of the Chamber of Commerce , where they remain reported for 5 years, and only after the first year, only if the debt was paid, it is possible to request cancellation from the Register. Luckily

the guarantee of the assignment of the fifth pension allowance is sufficient protection to allow lenders to provide loans to protested pensioners and bad payers, it is enough to have a sufficient income that allows for the transfer of the fifth.

Loans for pensioners with a minimum pension

The provision of loans to retirees with the transfer of one-fifth by financial corporations and lending institutions makes it impossible to grant loans to social pensioners or with a minimum pension . For the year 2017 the minimum survival threshold set by the State is equal to 501.89 euros per month, 6.524.57 euros per year: this means that

loans with a minimum pension or social allowance can not fall below the threshold mentioned when the amount payable to the institute in the form of a transfer of the fifth to pay the loan is deducted from the amount received monthly.

In the case of a pension equal to the minimum amount of survival, since it is not possible to obtain a loan by assignment of the fifth, it is necessary to find alternative ways, for example the mortgage loan, which will be discussed extensively in the last chapter.

Loans to pensioners with disability

Loans to pensioners with disability

Are loans to pensioners possible with disability ? It should be noted immediately that civil disability is not generally considered by credit institutions as a discriminating condition for the provision of a personal loan, however it is likely that the bank requires specific documentation about the type of disease from which it is affected. , in addition to the one that certifies the economic possibilities available to the applicant, during the assessment phase of the financing application. Among the requirements to provide loans to pensioners with disabilities ,

It is therefore sufficient, in addition to not exceeding the maximum age limit, that the perceived social security is able to guarantee the reimbursement of the monthly payment, but if the disabling pathology is characterized by a high probability of death, it could represent a obstacle to the request for funding, pushing the bank to a denial despite sufficient income.

The medical documentation will have to be evaluated by the insurance company that will stipulate the consequent life insurance linked to the loan: the refusal to the loan application could be motivated by the certification of a pathology with probability of death too high, or a disability pension too small or too insecure, ie that it may be subject to suspension or cancellation.

Solutions with guarantor

An alternative route for those who seek funding but do not have all the necessary requirements is represented by retired loans with guarantor , where a third person takes on the necessary guarantees required by the credit institution or financial institution to provide the required capital. The guarantor of the loan

assumes responsibility for any unpaid installments by the borrower: this third party must prove its creditworthiness and in turn must not have been reported as a bad payer.

Retired loans with proxy

Retired loans with proxy

Retired pension loans are possible? First of all, remember what the payment proxy is, also called

transfer of double the fifth of the salary , that is a financing formula that provides for an increase in the amount withheld from the normal transfer of the fifth, therefore the amount withdrawn every month from the beneficiary’s retirement allowance for the extinction of the debt will be equal to a maximum two-fifths out of the total , 40 percent instead of 20 in the normal fifth.

Having already seen the normal difficulty that can arise with the normal assignment of the fifth, it is clear that the procedure for requesting a retired loan by proxy becomes more complicated, and not only because the government, to avoid the over-indebtedness of a person or family, which perhaps underestimates the impact of a loan in their daily lives, sets a sufficient minimum amount which can not be disregarded, whether it be the salary or in our case of interest in the pension allowance, but also because many banks per se reject the possibility of granting loans by proxy. However

if you have a good social security period you can also get a loan for pensioners with double-fifth of the pension, but tend to be recommended only if you have to request large amounts, which can generally be paid in installments up to 120 months.

To submit the application with the relevant loan procedure by proxy, you must first contact your pension institution , requesting authorization to open the file: when the go-ahead is granted, the proxy must then be handed over to the finance company or institute credit, provided that it has loans with a double-fifth transfer in its product portfolio.

What is the alternative to the sale of the fifth?

For those who can not access the loan by assignment of the fifth there is a possible alternative route, which is the bank loan , or mortgage loan: this loan is open to

all those who are over 60 years old and own a property, being able to obtain large sums of up to 350 thousand euros. To apply for a mortgage loan, you must present a tax code, a copy of your identity document, a family status, a contextual certificate, a preliminary notary report or a deed of provenance, and an appraisal of the property. After a preliminary feasibility opinion, a technical assessment of the property will be carried out, aimed at obtaining an estimate of the real value of the house, which is then necessary to provide the capital.

The bank life loan leaves the property of the property to the pensioner , and the subscriber has the right to decide whether to repay his debt gradually , or to leave the burden of extinguishing his debt to the heirs, who can provide for themselves or leave that the bank puts the property on the market to obtain the balance of the debt.

 

Personal loans not finalized: personal loans for employees, pensioners, students

The credit market is basically divided between finalized loans and unfinalized personal loans : the first are loans raised at retailers of goods and services for the purpose of delaying payment over time, in which the retailer offers his customers a purchase of the goods in installments receiving a commission or commission for the business of procuring customers from the financial company, so that the amount of the loan is paid not to the customer, but to the retailer himself, and to proceed with the provision of consumer credit must specify the motivation for to which this sum is requested.

On the other hand, non-finalized personal loans are loans whose amount is paid directly to the customer by any credit institution, and no specific reasoning is required as the loan is not subordinated to the purchase of a specific good or service.

 

Content index

  • Personal loans not finalized: the documentation
  • Provision of non-finalized personal loans
  • Personal loans without motivation
  • Loans finalized or not finalized, what to choose?
  • Personal loans not finalized: the advantages
  • Unfinalized personal loans: the disadvantages
  • The refund
  • Unfinalized personal loans, costs and ancillary costs
  • Personal loans not finalized: the assignment of the fifth
  • Solutions for students
  • Credit solutions for retired people
  • Conclusions

Personal loans not finalized: the documentation

Personal loans not finalized: the documentation

In order to obtain an unfinalized personal loan, you need to go to a bank or a financial company, or send the request directly online, presenting as documentation

copy of the identity document, tax code and proof of income through the last two pay slips or a copy of the 730 for workers, and pension slip for those receiving a social security allowance.

This is the documentation usually requested, but in the individual specific cases due to particular financial and financial situations, additional additional documentation may be required , such as the presence of a third party guarantor or other forms of guarantee to obtain the go-ahead for financing.

Provision of non-finalized personal loans

Provision of non-finalized personal loans

Loans that are not finalized are therefore a form of financing granted by banks and financial institutions to customers without the disbursement being in any way dependent on the purchase of a specific good or service at a partner retailer. This involves that

the money is paid by the bank directly to the customer, by a bank check or credited to the personal bank account , and the beneficiary, once the desired amount is obtained, can have it in total autonomy for their own needs, in most cases without any restrictions.

Personal loans without motivation

Although there is no contractual link between the financing and the purchase of goods, unlike the so-called consumer credit, even non-finalized personal loans can provide for different purposes of expenditure that serve the financial company to make a preliminary assessment of the size of the loan. amount requested and how much actually obtainable from the applicant, as well as on the duration of the amortization plan. This means that, even if the customer has the autonomous sum granted, the customer at the time of filing the application may have to specify how the money obtained will be used.

This preliminary information, however, also has a positive implication for the applicant, as it can be the flywheel to enjoy favorable conditions on specific spending projects .

Just to give examples, apply for a non-finalized loan for home renovation purposes that allows higher amounts and longer durations compared to the motivation to spend trips and holidays, renewing the energy system of the house can mean obtaining tax deductions provided by the government, or the same loan is not finalized for students who have to complete the courses or for young people under 35 who want to give life to a start up could receive easier conditions than maybe a 50-year-old professional who has to organize his daughter’s wedding.

Loans finalized or not finalized, what to choose?

Loans finalized or not finalized, what to choose?

So, loans finalized or not finalized ? What to choose? It goes without saying that the choice must fall on one or the other depending on the individual cases and their needs. It is clear that if, for example, you have to buy a new dishwasher, a finalized loan is the most convenient and convenient solution. In other cases, the choice between a finalized loan and an unfinalized loan is at the discretion of the client, as in the eventuality of the purchase of a car, where the buyer can take advantage of the financing offered directly by the car dealer, how much to contact himself to a financial company to get the necessary amount and subsequently pay the car to the dealer in a single solution. Addressing a credit institution can, for example, allow for those who have the possibility of obtaining more credit than they owe, and thus succeed, to return to the example mentioned, to purchase the car and at the same time satisfy other needs, for example a holiday, which obviously could not be done with a loan. However, like any form of financing, even unfinalized personal loans have advantages and disadvantages .

Personal loans not finalized: the advantages

Personal loans not finalized: the advantages

Here are the advantages of unfinalized personal loans summarized in these main points:

  • Money paid directly to your current account
  • Lighter approval process with fast waiting times
  • Wide choice between banks and different financial companies from which comparison can be drawn more convenient proposals
  • Possibility to dispose of the sum chosen as best, without having to specify any reasons

Unfinalized personal loans: the disadvantages

However, even non-finalized personal loans may have disadvantages , in particular:

  • Higher interest rates, due to the absence of material assets contractually provided as collateral
  • Uncertainty about approval due to lack of collateral. The feasibility assessment of the loan is linked to the creditworthiness and the degree of indebtedness of the applicant.

The refund

How does the repayment of unfinalized personal loans work ? When signing the contract with the credit institution or financial company, the applicant can choose the preferred payment method: usually

the reimbursement of the monthly payment is made through the payment of bills to Swiss Post or at the affiliated tobacconists, or through direct deduction from the current account, a formula that is for example associated with personal loans with assignment of the fifth .

Another aspect to be agreed with the bank, strictly correlated with the times and methods of the sum to be repaid, is the duration of the amortization plan, which usually varies from 12 to 120 months: the more the repayment is delayed over time, the lower is the amount of the monthly payment, and therefore it is very important for the beneficiary of the financing to choose a duration suitable for their needs and financial resources, within the range proposed by the bank itself.

Unfinalized personal loans, costs and ancillary costs

To know the cost of a personal loan , two indicators must be taken into account,

the TAN , the nominal annual rate, which corresponds to the interest rate applied to the sum lent, ie how much must be returned to the institution of credit on duty in addition to the amount disbursed, and the APR , the Annual Effective Annual Rate, which includes all expenses and the tax burdens included, such as the costs of opening and early repayment of the loan, or communication costs.

The accessory expenses also include insurance costs , compulsory or optional, related to the loan: these are life insurance policies or loans, with which the lender guarantees the repayment of the capital in the event of insolvency due to anticipated death, temporary or permanent disability, loss of the workplace. Other possible expenses that can be included in the cost calculation are those of the bank charges for the automatic debit service on the current account or for the postal order, and the cost of production and sending of the bank statement . Some of these expenses may be borne by the bank itself, you must read well the loan conditions provided in the offer and any changes over time at the time the contract is signed.

Personal loans not finalized: the assignment of the fifth

Personal loans not finalized: the assignment of the fifth

A particular type of personal loans that are not finalized are those that provide as a repayment method the assignment of the fifth of the salary or social security. What is the sale of the fifth? The peculiar characteristic is that

the credit institution with which the loan is signed withholds directly the amount of the monthly repayment installment, which can reach a maximum of 20 percent of the salary or pension income received by the beneficiary, equal to one fifth of the total amount.

The advantages of the transfer of the fifth option are essentially due to the fact that such unfinished personal loans are also open to those who are likely to be refused funding , such as the protested and bad payers, being the assignment of the fifth agreed directly between the bank and the employer. However, in order to have the go-ahead for the assignment of the fifth, it is necessary to have a sufficiently high income to support the deduction of the monthly payment, and a permanent or fixed-term employment contract provided that the employment contract has the same duration as the financing.

Solutions for students

Non-finalized personal loans are potentially open to any category of subjects, but credit institutions tend to reserve for certain specific segments of the company loans at particularly advantageous conditions: it is the case of student loans to support university expenses or for those who must carry out a master’s degree or a particular specialization course. There are two forms of funding for students: the first is a personal loan ,

which provides for the typical characteristics that we have already analyzed for a non-finalized loan, namely the provision of the sum on the student’s current account and a repayment plan through monthly installments and variable duration depending on the amount.

Depending on the bank you are targeting, there are additional useful services such as the possibility of skipping an installment or changing the amount, or facilities such as the reduction of ancillary costs. The government itself has planned a series of dedicated initiatives over the years that offers the possibility for young students to apply for facilitated loans through a specific guarantee fund with which the State protects the student by providing coverage on half of the amounts paid, while the part remaining is guaranteed by the participating banks.

The second student loan formula is the so-called honor loan , related to the student’s academic performance. This loan is different from normal non-finalized loans, as the result of agreements between the university and the bank that allocates the sum according to certain educational requirements that must be reached in order to obtain the loan, and set by the university itself.

The credit institute finances the entire course   and also the costs of transfer, board and lodging in the case of an off-site student, by paying the loan in installments. Another peculiarity of this particular loan is that the repayment period does not start immediately at the end of the financed course, but there is a “bridge period” during which the student can have the time necessary to find a job and start to perceive a income with which to repay the loan.

Credit solutions for retired people

Among the beneficiaries of non-finalized loans are also pensioners , who can enjoy a fixed income and favorable conditions for reimbursement through INPS and the other former institutions absorbed by Inps since 2011, such as the Inpdap reserved for those who were public sector employees. Generally, the preferred formula for personal loans to pensioners is the transfer of the fifth , with the compulsory subscription of a life insurance policy to protect both the bank and the beneficiaries’ heirs in the event of early death. There may be restrictions on the provision of personal loans not aimed at retirees , linked to such situations:

  • Minimum pension
  • Disability pension
  • Reversibility pension
  • Other loans in progress
  • Retired people over 75 years of age

In these cases, where the assessments vary according to the individual case, it is possible in case of denial of the finance company to resort to alternative financing routes, from online private loans to bank life annuity: in any case it is advisable to contact a financial consultant to search together for the best solution.

Conclusions

We have broadly seen how an unfinalized personal loan works , which undoubtedly presents itself as the preferred tool for any subject so that he can obtain a sum of money necessary to satisfy his needs without being subordinated to a specific motivation. There are many variations of this type of financing, and therefore it is advisable, taking advantage of the online comparison tools, to analyze more estimates before making the final choice, and in case of special conditions related to their income situation, or other sensitive issues of an economic-financial nature, it is advisable to contact a financial consultant who can guide the applicant towards the best possible solution for his needs.

Personal loans Inps Inpdap: guide to loans provided by institutions

Inps Inpdap personal loans represent an attractive financing solution for those who can benefit from the funds made available by the social security institution: this is in fact a type of loan reserved for employees and retirees of the public administration, as well as their family. Once these services were provided by the Inpdap, but after the absorption of this entity along with other “industry”, all merged in 2011 in INPS, today are commonly recognized by the word personal loans Inps Inpdap : see together what are the characteristics and conditions present these loans, and how they break down.

Content index

  • Inpdap former loans, what does this mean?
  • What are?
  • Who do they turn to?
  • How to apply for personal Inps Inpdap loans
  • Small Inps Inpdap Loan, the types of products
  • Small Inps loan, who is it for?
  • Inps Inpdap multi-year loan
  • Multi-year loans guaranteed Public Management
  • Interest rates
  • Solutions with assignment of the fifth
  • What happens if the loan is not repaid?

Inpdap former loans, what does this mean?

Until December 2011, funding for public employees was provided by the Inpdap institution , an acronym that stands for the National Institute of Social Security for Public Administration Employees , offering a type of low-interest rate products also for retired people and the amounts of which were withdrawn directly from the Credit Fund   of the social security institution or the banks and financial institutions that have an agreement with the institute. But

following the approval of the Decree 2011/201 known as “Save Italy” this social security institution like others has been deleted and its functions absorbed by the National Institute of Social Security, namely the INPS: that’s why we talk about personal loans Inps Inpdap or former Inpdap, to specify how credit performance is still in force, formally changing only the name.

What are?

Now it is therefore the INPS that manages the personal loans formerly Inpdap , taking advantage of the so-called Lost Fund, that is the units from the Unitary Management of Credit and Social Services that is constantly supported by the contributions of the members of the Fund, ie employees and retirees of the public administration . This type of subsidized loans is therefore based on the mandatory levy that the social security institution performs on the salaries of public servants in service, through modalities in percentages that are summarized as follows:

  • 0.35 percent for Public Employee Management ex Inpdap
  • 0.80 percent in addition to 0.35 for the Enam’s Magisterial Assistance Management
  • 0.35 per cent for the Management of the Poste Italiane Group Funds
  • 0.15 percent for public pensioners

To these deductions must be added the sum generated by the interest rates applied to the credit services provided by INPS. However

the same financial products can alternatively be provided by credit institutions and financial companies on the basis of specific agreements stipulated with INPS .

Who do they turn to?

As we anticipated, the audience of beneficiaries of this type of funding is made up of employees and retirees of the public administration, as well as their families. Inps Inpdap loans are due in detail

  • Subscribers and retirees to the Public Employees Management
  • Workers and public pensioners of other administrations registered in the Credit Fund
  • Registered for Magisterial Assistance
  • Employees of the Poste Italiane Group companies
  • Pensioners participating in any pension management through the signing of a loan with a transfer of the fifth

The types of financing that are included in Inps Inpdap personal loans are

small loans , direct multi-year loans , guaranteed multi-year loans and loans to retirees with assignment of the fifth, each of them requires a specific procedure and is provided within the limits of the availabilities provided by the Fund.

How to apply for personal Inps Inpdap loans

Before seeing the various products, we offer some general guidelines on how to apply for this type of loan , whose procedure to follow varies depending on the type of loan chosen, and always within the limits of the financial resources provided annually in the budget of the social security institution. Thanks to the new digital communication tools it is possible

fill in the appropriate request forms directly online from the INPS website . Once the document has been printed and completed, it must be sent either electronically, if required, or to the competent territorial or provincial office of the former Inpdap . Next to the request form, whether paper or electronic, you must deliver all the documentation requested by INPS, different for each type of product, but generally provide for identity documents, proof of income plus other specific certificates that may vary case for case.

Small Inps Inpdap Loan, the types of products

Let’s begin our discussion with the Small Inps Inpdap loan , where it is possible to distinguish three types of financing: the Small loan Public Management, the Small loan Management Funds Poste and the Small loan Management Magistrale. In all three cases it is about

short-term financing plans with amortization schedules of 1 to 4 years, and the sum requested may be equal to a maximum average monthly salary or pension payment in the case of annual duration, two monthly payments for two-year loans, three monthly payments for loans with a duration of three years and four monthly payments if the loan has a four-year term. The small Inpdap loans have a subsidized rate to which a rate is applied relative to administrative expenses and a relative to the contribution of the provision for risks.

Small Inps loan, who is it for?

Let’s see briefly who is responsible :

  • The Small Public Administration loan is reserved for members of the Public Administration Employees Fund and allows small short-term loans to be received, to be repaid in constant installments by way of deduction from salary or pension.
  • The Small loan Management Poste Italiane is instead the loan dedicated to the employees in service of Poste Italiane or associated companies and allows to obtain amounts by assignment of the fifth of the salary to be repaid in annual, biennial, three-year or four-year terms.
  • The Small Magistral Management loan is reserved for former Enam members and may be requested by individuals in service or retirement activities for at least two years from placement.

Inps Inpdap multi-year loan

Among the various financial products provided by the social security institution we find the multi-year Inps Inpdap loans, also divided into three types similar to the Small loan: Long-term direct loans Public Management, Multi-year Loans Management of Poste Funds and Multi-year Loans guaranteed Public Management. The first two multi-year loans are reserved respectively for workers and pensioners registered for the Public Employees Fund and for the workers in Poste Italiane’s service: compared to small loans

multi-year loans make it possible to request larger amounts, but are only granted for specific needs: therefore, in order to obtain a multi-year Inpdap loan, it is necessary to provide specific documentation stating the funding motivation and any documentation of expenditure.

Long-term Public Management Loans can only be obtained by persons with permanent contracts while the multi-year Loans Management Poste Funds may be five-year or ten-year, and are granted through the assignment of the fifth: they must also have specific purposes among those provided for in the regulation, such as medical treatment for serious illnesses or specific health expenses, coping with the consequences of natural disasters, and more.

Multi-year loans guaranteed Public Management

We have left aside because the third segment of long-term loans deserves specific treatment, namely the multi-year loans guaranteed by Public Administration which provide a loan guaranteed by INPS to cover a series of risks: the anticipated death of the member before the sale is terminated of the fifth, termination of service without a right to a pension, reduction of the salary of the transferor. Individuals can apply for this loan to the Unitary Management for Credit and Social Benefits who are in service activities and have at least four years of effective service in the employment relationship useful for the pension.

The multi-year loans guaranteed by Inps may have a five-year duration to be repaid in 60 installments or ten years to be repaid in 120 installments: to send the request   the subject must submit in 4 copies the model provided by the institution to the administration to which it belongs, without any documentation or expense documentation, but with an attachment of the medical certificate of good physical constitution. The application, filled in by the Administration to which it belongs and completes the declaration certifying the amount of the salary, is subsequently sent to the credit institution that provides the loan, which in turn will return it to the Administration after having drawn up the contract. Finally, the Administration will send the documentation to the local InPS office which, after having assessed the regularity of the request, will decide whether to grant the guarantee or not.

Interest rates

Interest rates

The interest rates of Inps Inpdap personal loans provide for the application of a percentage that is generally lower than the market rate to make it easier for subscribers: the following are the TANs, the nominal annual rates of interest for the main types of loans previously described for the year 2017:

  • 4.25 percent for Small Public Administration loans
  • 5 percent fixed rate for Small loans Management Funds Poste
  • 1.50 per cent for Small loans Magisterial Management
  • 3.50 per cent for Direct Long-Term Public Administration Loans
  • 3.50 percent for Multi-year Loans Management Poste Funds

Solutions with assignment of the fifth

A specific section of the loans disbursed by the institution consists of Inps Inpdap loans with assignment of the fifth of the pension, which represent one of the most requested types of products to the social security institution and make it possible to request additional useful liquidity to be paid off with direct deduction on the pension payment. All retirees can apply for this type of loan except for those who receive this type of social security benefits:

  • pensions and social allowances
  • civil disability
  • monthly checks for assistance to pensioners for incapacity
  • income support checks (VOCRED, VOCOOP, VOEO)
  • checks to the family unit
  • pensions with co-ownership for the portion attributable to the person requesting the assignment
  • exodus performance

What happens if the loan is not repaid?

What happens if the loan is not repaid?

As for all loans on the credit market, in the event that the beneficiary of the Inps Inpdap loan does not pay the reimbursement of one or more monthly installments included in the repayment plan, the consequence could be the registration in the Register of Protestants and of bad payers with the reporting to the Central Credit as the Crif, a database containing all the information on the creditworthiness of the applicants, which makes it much more difficult to obtain new credit. The discourse is obviously pertinent for those who do not require loans with assignment of the fifth.

Data retention times vary depending on the type and severity of the insolvency situation, but are generally between 12 and 36 months . Only after expiry of the terms of permanence in the list of bad payers, the debtor’s name is automatically deleted from the databases.

 

 

Are personal loans deductible? Deductions of loans and loans

Are personal loans deductible ? The question is indeed rather complex and deserves to be thoroughly investigated. There is in fact no single answer to this question, and we can preliminarily say that personal loans are deductible only in some cases : by definition, since these loans are not finalized, for example, for consumer credit, but granted precisely for purely individual needs, for the tax authorities should not provide the right to discounts of any kind.

However, there is only one case where it is possible to take advantage of tax incentives, ie to deduct interest on loans, and it is when these loans have to do with work, and therefore it is essential that the loans are related to purchase of an asset aimed at carrying out its professional activity.

Content index

  • Tax deduction, which means?
  • Personal deductible loans, who is entitled to a refund?
  • Restructuring and energy redevelopment
  • Loans and agricultural loans

Tax deduction, which means?

Tax deduction, which means?

What does it mean when referring to a tax deduction ? It is about

a tax advantage that acts on the tax , and differs from the tax deduction, which is instead an advantage that acts on taxable income. These facilitations are established by the Fiscal itself through specific thresholds

For certain expenses, such as health or building renovation, the Fisco recognizes a deduction equal to a certain percentage (for example, 19, 36 or 55 percent of the charge incurred). With the deduction we obtain a tax saving equal to the deductible percentage of the expenditure made.

Personal deductible loans, who is entitled to a refund?

Personal deductible loans, who is entitled to a refund?

In general, a private individual is not entitled to the reimbursement of interest on personal loans through tax deductions, not even partially: the question is positively posed for certain categories of subjects, such as self-employed professionals and self-employed workers , but the same applies to individual companies. Therefore the deduction of the interest payable is admissible for loans that have been stipulated for a specific purpose, that is to corroborate the performance of the work activity.

In the event that a high sum is requested through funding, to be allocated only partially to the professional activity, experts in the sector suggest splitting the personal loan into two sections, in order to have a part of the amount paid for the work needs. , and thus be able to enjoy tax benefits in the form of deductions, separated from the sum intended exclusively to meet their personal needs, or otherwise non-business, which is not subject to any form of tax relief.

Restructuring and energy redevelopment

Restructuring and energy redevelopment

There are also special cases of deductible loans , and this is the case, for example, of loans for home renovation and energy redevelopment of the same, enjoying the benefits provided by the state.

The restructuring deduction is equal to 50 percent of the expenses incurred from June 26, 2012 to December 31, 2017, within a spending limit of 96 thousand euros per property, while starting from January 1, 2018 the deduction drops to 36 percent for a figure maximum of 48 thousand euros. The deduction is divided into 10 annual installments of the same amount.

The deduction must be indicated at the time of the declaration of income in part E, section III A and III B in lines from E41 to E53 .

The case of energy redevelopment is different, where different forms of tax deduction are envisaged:

  • Deduction of 65 percent up to the end of 2017 for energy redevelopment of existing buildings. The maximum deductible expense varies according to the type of intervention carried out and the deduction is divided into 10 annual installments of the same amount.
  • 70% deduction from 2017 until the end of 2021 for condominium interventions affecting the external façade of the building with an incidence of more than 25% of the gross dispersing surface of the building itself. Maximum expense limit of 40 thousand euros per unit.
  • 75% deduction if the intervention is aimed at improving the summer and winter energy performance of the condominium, achieving at least the average quality set by the ministerial decree of 26 June 2015. Maximum expenditure limit of 40 thousand euro per unit.
  • Deduction of 36 percent from January 1, 2018 for interventions on individual housing units for a maximum expenditure of 48 thousand euros.
  • Deduction of 36 percent from January 1, 2022 for interventions on entire condominiums for a maximum expenditure of 48 thousand euros.

The deduction must be indicated in picture E, section IV Righi E61 / E62 .

Loans and agricultural loans

Another special case to analyze about the tax deductions on interest concerns loans and agricultural loans , whose sums paid can be deducted for a sum equal to or lower than the sum of the agricultural income and the declared dominican income. This sum must also include the portion of Dominican and agricultural income, if any, corresponding to the shareholding in companies of persons engaged in the aforesaid agricultural activity.

Recall that the tax deduction for agricultural loans and mortgages that admit it not only affects the interest, but also extends to the revaluation quotas that derive from indexation clauses and ancillary charges, such as, cadastral taxes, notary fees and those of real estate brokerage.

Personal loans with assignment of the fifth

The world of personal loans is very large and varied, both for the types of products that the various lenders offer to customers, both for the formulas through which to realize the depreciation of the capital provided: a branch far from the secondary world credit is made up of personal loans with a salary or salary allowance, in which the reimbursement is changed, which is not done through the classic payment of postal bills or through a direct transfer by the loan recipient to the financial company. Let’s see together what are the aspects that characterize personal loans and assignment of the fifth , to whom they turn and what are the general conditions of this type of loan.

Content index

  • Cession of the fifth, what is it
  • Characteristics of the assignment of the fifth
  • Personal loans with assignment of the fifth: who can request them?
  • Loans and assignment of the fifth: which guarantees?
  • Advantages and conditions
  • Personal loans and assignment of the fifth: differences
  • Indexes to be evaluated and expenses?
  • Assignment of the fifth to retirees
  • Retirement loan: what conditions and who can apply for it
  • Employee fifth-party loan
  • Sale of the fifth Inpdap
  • Some large financial companies that provide excellent offers

Cession of the fifth, what is it

Let’s start by explaining in a simple way what the transfer of the fifth and what differentiates it from the normal personal loan: as the latter, also the sale of the fifth is a fixed rate loan with repayment in constant installments, but to differ in this form of contract is the repayment method of the installments, which

it is not carried out by the applicant but by his employer, or by the social security institution in the case of retired persons, and the related amount for depreciation is withheld directly in the paycheck or by the pension. The employer is therefore the subject appointed to pay the installments in favor of the institute that disbursed the loan.

Characteristics of the assignment of the fifth

We are talking about transfer of the fifth because the amount of the monthly repayment installment can not normally exceed the fifth part of the net salary or social security allowance , therefore 20 percent of the total income considered. In some situations it is possible to exceed the sum paid by a financial institution, arriving at a maximum rate equal to two fifths of salary: in this case it speaks of a proxy loan or a double transfer of the fifth, and to obtain it you must

in addition to the contract for the assignment of the fifth, also sign a contract to delegate the payment, which commits precisely the other fifth of the salary. It is only possible to apply for a proxy loan only if the income is very large .

Personal loans with assignment of the fifth: who can request them?

Who can apply for personal loans with a transfer of the fifth ? This type of financing can be requested by

  • public or state employees
  • private employees
  • retirees

In the case of employees, the contract must be open-ended and it must also take into account minimum length of service, which varies according to the insurance company that provides the policy linked to the loan. The company in which the applicant usually works must also satisfy certain eligibility criteria, such as for example a minimum number of employees or a share capital above a set minimum limit, and so on, which will have to be evaluated by the institute of credit. For pensioners there are also special conditions, the result of an agreement stipulated by the financial companies with social security institutions, for which

the interest rates applied are generally lower than those present on the average on the market, and a compulsory life insurance policy is envisaged which acts as protection for both the bank and the heirs in the event of the anticipated death of the beneficiary.

It is not possible to apply for loans with assignment of the fifth for self-employed workers.

Loans and assignment of the fifth: which guarantees?

This type of financing based on a secure income does not provide for the applicant to present any collateral, which are somehow replaced as a form of protection from the severance pay accrued by the employee or pension pensioner, who guarantee the financing institution in front of to the risk of loss of work, accident or life risk. It is also expected

the compulsory subscription of a life insurance or employment risk that guarantees, in the event of non-payment, the coverage of the amount still owed.

The cost relating to insurance coverage is retained directly by the financial company or credit institution, which will therefore provide the applicant with an amount net of the aforementioned costs. In order to safeguard the aforementioned guarantees, it is expected that the beneficiary of the loan can not ask for advances on the severance pay for the entire duration of the loan.

Advantages and conditions

One of the main advantages of the sale of the fifth is that, once the eligibility requirements have been met through the economic income conditions, both the applicant and the company he works for in the case of employees, the probability of being granted the loan is very high. These guarantees, combined with an automatic debt repayment plan, make the financing sufficiently secure that a bank can grant them without problems also to protestors, bad payers and, more generally, people with a non-perfect credit history, and who would hardly have access to finance. like personal loans. As for the conditions,

in general, personal loans with the assignment of the fifth provide amortization plans for up to 120 months , or 10 years, or in some cases up to 60 months, ie equal to 5 years. The amounts disbursed obviously vary according to the income of the individual customer, but you can also get quite high sums of money.

Personal loans and assignment of the fifth: differences

Personal loans and assignment of the fifth: differences

As we anticipated, while in a traditional loan the installment is paid by the debtor to the credit institution or financial institution by way of agreed arrangements such as postal bills, bank transfer or debit on the current account, in the transfer of the fifth the installment is deducted directly from the salary or from the pension . Therefore

is the company for which you work or the social security institution to which you are registered, in the case of a transfer of the fifth of the pension , to pay the installment directly to the financial or to the bank.

Another difference concerns the stipulation of a policy , which in personal loans is optional, while it becomes mandatory for loans with transfer of the fifth.

Indexes to be evaluated and expenses?

In front of a loan offer with a transfer of the fifth , the elements to be assessed are 5:

  1. TAN (Nominal Rate), or the annual interest rate applied on the financed gross capital
  2. APR (Global Effective Annual Rate), which is the sum of total expenses and charges that represent the total cost of the loan, useful for comparing more offers
  3. Preliminary costs, a cost item that indicates the coverage of the evaluation and management of the loan request
  4. Insurance expenses, since the transfer of the fifth salary by law is linked by insurance coverage to guarantee the life and use risk of the customer, pursuant to Article 54 of Presidential Decree 180/1950
  5. Banking commissions, ie   bank administrative costs that are part of the cost of the loan

Assignment of the fifth to retirees

The assignment of the fifth Inps is aimed only at pensioners, who can stipulate a loan at competitive rates with the partner banks that can be paid in a period of no more than ten years, giving up a portion of the pension up to a fifth of his total value. In this case

it is the INPS that pays the repayment installments of the loan, withholding them from the pension. After evaluating the most convenient estimate, the pensioner must contact his social security institution in order to obtain the declaration of transferable quota , a document certifying the transferability notice in which the INPS, after having verified the conditions to protect the pensioner, indicates the maximum amount of the loan installment. This document must then be presented to the credit institution before entering into the loan agreement.

Retirement loan: what conditions and who can apply for it

Retirement loan: what conditions and who can apply for it

In the loan with retirees, the duration of the loan can vary between 24 months up to a maximum of 120 months, with a fixed rate for the entire duration of the amortization. The only limitations are related to the expiry of the loan and the protection of the minimum amount of the remaining pension once the installment is subtracted, a limit established by law and set each year by the State, and that generally must not be less than 500 euros. The personal loan for retired persons can be requested by persons between the ages of 72 and 80, and the maximum age for requesting the transfer of the fifth for pensioners generally does not exceed   85 years, this means that the last installment must expire before the age of 85.

Only old-age, old-age and survivors’ pensions are taken into account, while invalidity, disability, social allowance pensions, those with more than one owner and with a net income of less than € 500 can not be financed with the assignment of the fifth. The signing of a mandatory life insurance policy against the risk of anticipated death is also expected.

Employee fifth-party loan

Employee fifth-party loan

In loan employee loans to employees a guarantee that protects the bank grants loan is represented by the employee severance indemnities, more commonly known as liquidation, or the amount of money that it is up to the employee at the end of his employment relationship. Generally, this sum is equal to approximately one month’s salary per year, even if the calculation is made precisely by dividing the annual salary by 13.5. In the case of loans with the transfer of the fifth, the TFR set aside

it is made available to the issuing bank as a guarantee for the loan. Employees of private companies are obliged to sign a declaration that binds the credit institution to dispose of the present and future TFR, which can be withdrawn by the bank in case of loss of the beneficiary’s job, up to the coverage of the residual debt. Public and state employees are not subject to this restriction, as their TFR is managed by the Inpdap, and therefore does not represent a guarantee for the bank that provides the loan.

Sale of the fifth Inpdap

Sale of the fifth Inpdap

Finally, let’s see what the fifth Inpdap assignment consists of : this institution is the National Institute of Welfare and Assistance for Public Administration Employees, and is authorized to grant loans to all public administration employees who need liquidity, paying for them the installment of a personal loan through the assignment of the fifth.
To access the assignment of the fifth of the Inpdap salary, the following requirements are required:

  • Be employed by a public administration with a permanent contract
  • Have attained at least 4 years of service at the administration itself
  • Do not have any other payroll deductions that add up to two fifths of your salary

In order to obtain the assignment of the fifth Inpdap, a specific request must be submitted, filled out by means of the form issued by the social security institution for public administration employees. The application must be drawn up in four copies to be submitted to the administration for which you are employed, and must be attached to the documentation certifying the state of necessity and any expenditure depending on the reason provided for in the regulation. In addition, a medical certificate of healthy and robust physical constitution is also provided that is issued by the ASL or by a doctor appointed by the Administration on which the applicant depends.

It is not possible to replicate a transfer in progress if at least two years have not elapsed since the start of a five-year assignment, or four years from the beginning of a ten-year sale. On the other hand, early repayment is granted at any time through the payment of the residual debt. Next to the sale of the fifth is the signing of an insurance policy , which protects the lender and the applicant in the event of dismissal and subsequent loss of employment.

Some large financial companies that provide excellent offers

Let’s see now to conclude some examples of financial loans that grant loans by the fifth : there are many financing institutions in the Italian credit market that offer this opportunity, we limit ourselves to mention only some of the most famous financial indicative. Let’s start with Findomestic , whose sale of the fifth periodically offers discounts and promotions: basic expenditure is not foreseen for commissions for education, intermediation and practical management, or stamp duty for periodic communications.

With Agos, as stated on the official page of the site , it is possible to request even high amounts, repayable through amortization plans up to 120 months. Furthermore, an advance on the amount of the loan can be requested, and the possibility of obtaining the requested capital is also envisaged in the case of other existing loans, and in the presence of ascertained, previous difficulties in accessing the loan.

We close our brief overview with Compass, in whose page of the official site you can read between the conditions of access to the funding between the ages of 18 and 63, the possibility to request also the delegation of payment, and obtain repayable sum with installment up to two-fifths of the salary. For pensioners the possibility of requesting the assignment of the fifth is up to more than 70 years, maximum age of 85 years on maturity.