When a loan is not issued, the reasons may vary. Often however it happens when it turns out to be protested or bad payers. These are similar but different situations.
The protest occurs when a person does not pay a bill of exchange or check, to a private individual or to a bank. The unsolved document is in this case handed over to a notary who will take care of the credit recovery through the judicial authority.
The condition of bad payer instead occurs when the debtor pays the installments or a late bill, perhaps even more than once. In this case it is signaled and recorded in a special register called Crif. The banks consider all the members of the Crif as untrustworthy people to repay a loan. Unfortunately, when this situation occurs, there are very few ways out.
The most used systems to apply for a loan in these cases are the sale of the fifth and the loans changed. Modified loans to bad payers also allow those who have been reported to the Crif to receive funding.
But how do they work? These loans are now in disuse as they use the bill as a means of repaying the loan instead of the normal installment. The bill has a deadline and must be paid at the bank or the private company that issued it. As a payment receipt the debtor will receive back the bill just paid. The loan with bills of exchange will be declared extinguished when the customer returns to his bill.
In order to easily obtain financing with bills, even if you are bad payers or protestors, you need to present certain guarantees, that is to say, demonstrable sources of income. These can be represented by the pay check if you are a salaried employee or the latest tax returns if you are self-employed.
If unfortunately you are not in a position to declare an income received through a job you can prove it with any documentation of ownership of a property that produces income (for example if you own a property leased).
The last chance is given by the guarantor, usually a very close friend or relative, who is responsible for repaying the payments in case the funding applicant is unable to do so.