The recent economic crisis has put a good number of people in financial difficulties. This has resulted in someone losing their liquidity to the point of having to renounce some purchases but above all the payment of loan installments and mortgages, causing in some cases negative reports in CFR or other credit information systems.
Some loans allow the payment of installments to be postponed for a limited number of times, but when the limits imposed by the contract are exceeded, the non-payment of the installments entails a situation of default, and the unpaid debt is protested by the creditor.
Those who are reported to the databases have greater difficulty in obtaining further credits and less access to additional financial products.
Clearly, those who find themselves in this situation have a double difficulty, being a person who has a great need for money and less chance of access to credit. Loans with CFR reporting could be a solution.
Loans with CFR reporting are delayed or unpaid financial products that provide greater guarantees for credit institutions. At the same time, these loans can provide valid alternatives to those who have received reports from credit data banks.
One of the formulas most in use is the loan with the assignment of the fifth. “Fifth” means the maximum installment applicable which corresponds to one fifth of one’s pension or salary. This formula allows credit institutions to provide loans even to protested subjects. The payment of the installment is regularly withheld at source (by the employer or social security institution) thus offering a greater guarantee ..
Currently, it is very difficult to find alternative solutions to the assignment of the fifth, as this is a certain guarantee, due to the automatic withdrawal of a sum directly from the provider, be it the INPS, whether it is the employer.
The sale of the fifth allows you to deal with various types of purchases, such as vehicles, holidays and personal loans for different purposes. Thanks to this initiative, even those who have experienced economic difficulties can start buying assets on installments. It is certainly the most convenient solution to get a loan with reports in credit.
The fifth assignment can be requested by presenting a few documents. For an open-ended employee, personal documents, pay slips and the last CUD are required. For pensioners personal documents and income documents of the pension.
In the event that it is not possible to access the fifth sale we should evaluate other types of financing
What are these loans reported in the CFRs without a fifth assignment ? Loans between private individuals and loan balances could be two excellent solutions to obtain a loan as weaker credit profiles could be evaluated.
The advice is to thoroughly assess the credit situation to tackle a credit rehabilitation process by making a careful analysis to understand the methods and timing for obtaining cancellations of the critical issues.