Not all financial products are the same, and while it is true that banks have more stringent requirements, there are new lines of credit that will respond to your request. The ideal is not to have outstanding debts, but the fact of having them is also not a reason for not being able to solve a timely economic slump. This is what certain credit granting companies value, so you are not alone if you find yourself in this type of situation.
In fact, being on delinquencies is more common than it seems and does not imply having large debts. Sometimes you may not even know that your name is included in this type of list. An unpaid telephone bill of € 20.00 with which you disagree may be sufficient reason for you to be included in these delinquent records.
How to apply for a loan with finacial credit institution? It’s possible?
Are you trying to get a credit and you don’t get it because you’re on a list of delinquents? Quiet, in today’s article we will explain how to apply for a loan with finacial credit institution and get it. Let’s see it!
However, not all people listed in finacial credit institution have the same profile. Some people are there because they are professional scammers, but other people are simply because they forgot to pay a receipt on occasion .
Therefore, there are many financial institutions that are willing to analyze the nature of that unpaid debt and make their own decision on whether or not to lend money to that person.
This increases the risk a little, but also, precisely because of that, it allows a little increase in the interest rate to be charged.
So, if you are in finacial credit institution and want a loan, the first thing you have to do is find out which are those entities that offer loans with finacial credit institution. And, to facilitate that work, we mention what these companies are in the next section.
You also have to keep in mind that many of these entities offer loans with finacial credit institution as long as the amount owed is not very high . For example, it is normal for many entities to offer loans with finacial credit institution only if the debt is less than € 1000.
Finally, before moving on to the next section, it should be mentioned that, in the case that you are in finacial credit institution, it is very convenient that you pay off the debt that you have pending , because not being on that list helps a lot to have a financial and credit situation more comfortable
But well, surely you already know this, and if you are looking for a loan with finacial credit institution it is because you really need the money.
Why is it so difficult to get a loan with finacial credit institution?
The first question that should be asked when we talk about credits with finacial credit institution is … Why is it so difficult to get a credit when you are on a list of delinquents like finacial credit institution?
And the answer is in the business model that financial institutions have. Your business is to take capital (it can be owned by the entity or provided by clients who make deposits – the latter is the case of banks) and lend it to other people .
Thus, in the case of banks, one hundred people lend their money to the bank in the form of a deposit (say, € 1000 each, being a total of € 100,000, with an interest of 1%), and the bank lends part of that money (say € 30,000) to another person, with an interest of 3%.
The difference between the first interest and the second is the benefit of the bank . In the case of smaller financial institutions, the capital is their own, so the total interest rate reverts to the benefit of the company.
But in either case there is a problem: What if the person to whom the money is lent does not pay? In that case, you not only lose the 2 or 3% profit that was going to be obtained, but also the borrowed capital.
That is why financial institutions carry out in-depth analysis of the profile of the potential borrower of the loan, with the objective of determining whether they are a solvent person and capable of repaying the loan or not.
The management of this risk is essential for the business to work, because, if you take a lot of risk, the company may fail to have given loans that are not returned.
And what is one of the basic sections of this analysis of the profile of the borrower? Exact: Whether or not you are on a list of delinquents such as finacial credit institution. And, if you are, it means that you have already unpaid sometime, and that means that your profile is less solvent .
Why my name appears in finacial credit institution
Basically your name is included in a delinquent list for not having paid any invoice, fee, receipt or debt to a company. Usually, they are usually debts with mobile phone companies and financial institutions, although this is not always the case, since you can also appear for other types of defaults to other types of companies.
By law, every time a company inscribes your data in a list such as finacial credit institution, Rui, SEIDO or similar, you should be notified by certificate to your address within a maximum period of 1 month. However, your name cannot be included in these files, unless you have delayed 4 months in payment . The law stipulating this communication is Organic Law 5/1992. Do not worry if you have not received that notification, since your data may not be updated and, therefore, your name appears without prior communication.
However, you can do the management and call the association to confirm that your name appears and know the value of the default and the creditor. These associations or entities have the obligation to provide you with that information. Sometimes, you may have already paid your debt or there is some kind of misunderstanding. It is always better to corroborate the veracity of the outstanding debt, since in case of being paid you have the right to claim that your name be removed from that list immediately.
What delinquency records exist
All delinquent files that exist have a single purpose: to assess the risk of granting loans or loans to individuals or companies. There are numerous delinquency records, but then we will see the best known that operate in Spain:
finacial credit institution: National Association of Financing Entities
The National Association of Financing Entities is formed by more than 200 Spanish companies that grant loans, financial institutions, banks and also mobile, energy, publishing and telecommunications companies. All the members of this association contribute their data creating a common list, where the names of people with debts and defaults appear.
This list is the best known among the population, and is made together with bank and finacial credit institution.
A recognized worldwide company that is dedicated to providing strategic information for businesses. He has been working in Spain since 1994 although he operates in more than thirteen countries. His company works with the Association of Financing Entities to collect all the information from the daily listings of people with defaults and debts.
Rui: Unpaid Acceptance Registry
This file groups the defaults of companies and not of individuals who have debts of € 300 or higher. In other words, legal persons and never individuals appear in this list. It is managed by the JRC (Interbank Cooperation Center).
Rui’s delinquency list is made with the information provided by the credit granting companies and banks. This information does not have to be related to financial defaults, but rather that the banks or financial entities themselves, provide non-payment data to third parties. To check if your name appears on this list, you can contact them by phone: 902 103 406 or via mail: helpdesk@ficheroRui.com.
File of the Bank of Spain
In this list of the Central of Information of Risks of the Bank of Spain, the information of defaulters facilitated by financial institutions of credit is stored. This list shows both debts of individuals and companies.
All entities collaborating with or subscribed to the Bank of Spain have the obligation to declare the incidents in the payment of their clients or companies. Similarly, all these companies periodically receive updated delinquency listings. Although it is not a public listing, any person or credit institution can request this information from bank.
Experian Credit Bureau
The Experian Closed User Group Database is another of the best known delinquent files. The Experian company is a company that analyzes and stores data on economic solvency and has been working in Spain for more than two decades.
As in the rest of the files, the delinquency information is provided by the associated companies, in this case more than 210 entities. In general they are credit institutions, cooperatives and banks. The list includes information of legal persons (companies) and individuals (natural persons). It is updated month by month and sent to its members.
As in the rest of the files, if your name appears in this list you have the right to know the information about your debt and creditor.
How can I remove my name from the National Association of Financial Credit Institutions
Obviously if your name appears in the list for having incurred a debt with any associated company, the first step is to pay that amount and ask that your name be withdrawn from the company that entered it in the registry.
You have to inform the company where you had your debt that the debt is paid off and, for this, we recommend you write a certified letter attaching the receipt or income paid. Leaving finacial credit institution is not a very complicated task as long as the correct steps are followed.
If within seven days of receiving the letter, your name is not removed from the file, you can contact finacial credit institution directly and explain your case. You can also send them a letter providing all the documentation of the payment of your debt and a photocopy of your ID, asking them to remove your name from the file.
If you do not pay the amount corresponding to the debt, your name may appear in this list for up to 6 years. This will imply that during this time you will have enough inconveniences when requesting financing in any bank and in most financial institutions when requesting any mini loan. Although your name is removed, the debt you contracted will remain in effect until it is paid
How can I delete my name
As we have seen in the description of the Rui file, this file only includes data from freelancers and companies that provide banking entities. To remove your name from Rui, you must pay the debt and communicate it to the bank that included you in the list, providing the receipt paid.
Another option is to appear at the offices of the Unpaid Acceptance Registry located in C/Príncipe de Vergara, 132, 1st, 28002 Madrid, with the promissory note or receipt and the identity document. There is also a contact phone number for any type of inquiry 902 103 406.
Once you have deleted your name from the Rui you can solve credits online immediately without any problem.
How can I apply for a loan if I appear on a list of delinquents
You will not be able to request any loan from any bank, since they will deny you the credit for appearing in finacial credit institution or in other types of delinquency files, such as those mentioned above. However, there are loan entities where you can ask for quick money without problems. In general, for these companies to consider your loan application, your debt should not exceed € 1,000.
To save you time we tell you which are those companies that grant loans with finacial credit institution and the requirements to apply.
- viaconto.es: In Viaconto you can request your credit provided you do not have debts over € 1,000. Your application will be processed even if you appear on Rui or finacial credit institution.
- twinero.es: Get a micro loan of up to € 600 at Twinero. In addition, even if your debt amounts to € 2000, they will have no problem assessing your request. Depending on your credit history they may grant you more or less amount.
- kredito24.es: Apply for your loan online up to a maximum of € 750. Even if you appear in finacial credit institution they will study your request and you will get a response quickly. You will receive the money in less than 24 hours in your bank account.
- pepedinero.com: If the debt for which you appear in the delinquent registry does not amount to € 1,000, you will not have problems requesting your money quickly with Pepedinero.
- Sabyo.es: If the debt for which you appear in finacial credit institution does not exceed € 500 and does not have to do with non-payments to credit institutions or credit cards, you will also have no problem to obtain credit in Sabyo.
- Cashper.es: Get up to € 500 to return in 30 days and in just 15 minutes. Cashper grants fast credits with finacial credit institution, so don’t be afraid to apply with them.
- creditozen.es: Urgent loans without payroll and with finacial credit institution. If your debt does not exceed € 3000.00 you can request your first microcredit up to € 300.00 at 0.00% interest. Successive loans up to € 500.00. The perfect credit that makes your life easier.
- 1credito.es: Your request for quick money without the need for guarantees or payroll. Appearing on Rui or finacial credit institution will not be inconvenient to request your money. Request your first microcredit up to € 500.00 without problems and without paying interest.
- moneyman.es: Offers mini loans of up to € 1200.00 to be repaid in 4 months. It doesn’t matter if your name appears in a delinquent file, this is no problem to make your request. They study your case and offer you personalized conditions for you.
- onlinecredit.es: Ideal to apply for loans with finacial credit institution in the best conditions. Up to € 300.00 on your first loan paying only 5 Euros commission.
What requirements must I meet to apply for a loan with finacial credit institution?
Each company that grants mini-credits with finacial credit institution has specific requirements, but in general these requirements are accessible to everyone. They have nothing to do with the demands of the banks. Let’s see what are the most common conditions that ask us to apply for loans with finacial credit institution:
- You must be a Spanish resident , this does not mean you must be born in Spain. The important thing is to be able to prove that you are a resident.
- You must be over 18 years old , so you have reached the age of majority. Depending on the loan company, they can increase the minimum age to 22 years.
- Be a holder of a Spanish bank account and have a mobile in your name: You will need to have an account in your name and in general you will also be asked for an active mobile number, of which you are the owner, or an email account.
- You must have demonstrable monthly income. Companies that grant loans with finacial credit institution, ask for a guarantee that you have regular income. The minimum amount will depend on the credit you want to request, although usually in the case of mini-credits it is usually € 500. This income can be from a payroll, pension or similar.
- Your debt with finacial credit institution should not exceed € 1000: There are also companies that allow you to request these loans with debts of up to € 2000, but usually it is usually half. It is also important that you know that your debt must not have been contracted with any credit institution or similar.
These requirements may be lower or increased, depending on the company where we apply for our online mini loan. But with this information you can get a general idea of the requirements that you must meet before requesting your loan.
Are lenders the companies that grant such loans?
All the entities that grant fast loans that appear in highest credit are financial companies that operate in Spain and that in many cases are attached to the Bank of Spain. Therefore, you can be totally calm, since these companies that grant Payday loans with finacial credit institution are not lenders and are transparent and secure.
On our website you will not find any company that asks for your home as collateral, since most of these entities, in our opinion, do not comply with clear legislation and in general they are lenders that hide abusive clauses behind the fine print.
What happens if I do not repay my loans with finacial credit institution
Imagine that you have requested a Payday loan with finacial credit institution, precisely to pay off your debt and have your name removed from the delinquency file. If you stop paying the borrowed money, the financial companies will include your name in the list again and you will find yourself in the initial position. That is why it is best that you evaluate your economic situation very well and make sure that you can return the money so as not to enter a vicious circle of defaults.
In the same way, if you do not repay your loan and you already have a delinquent list, you could also face the following situations:
- Increase in interest payable: Interest in case of default will rise depending on the company in which you have requested your microcredit with finacial credit institution. And they will also charge you for all the communications, calls and notices they have to do to communicate with you. The longer you extend the payment term, the greater the amounts you have to pay for interest.
- Claim via court: You may also have to face a trial where your loan money with finacial credit institution is claimed. Given this situation, you will not only have to pay the amount of your credit, but in case the judge of the reason to the financial institution will also have to bear the costs of the judicial process.
- Sale of your debt to a claims company: Another option is for the financial company to pass your debt to a specialized collection entity and begin receiving notifications by all possible means of contact. Sometimes, they can contact friends or family to get you to pay the amount due.
As you will see, it is not worth stopping to pay your Payday loan with finacial credit institution, since instead of having solved an economic downturn you will aggravate your financial situation and your loan with finacial credit institution will not have been of any use. Nor is it a dish of good taste to be chased day after day by a collection entity. As advice, make sure you can repay your micro loan at the end of your repayment term, since you will live much quieter.
I can request a mini loan with finacial credit institution and without payroll
Yes, you can apply for loans without payroll and with finacial credit institution. Of course, you will need to prove that you have a recurring monthly income to be able to face your microcredit. It is necessary to meet this requirement, since companies that grant loans with finacial credit institution, must ensure that you can pay the borrowed money.
Keep in mind that the fact that your name appears on a list of delinquents is usually a reason why banks and credit unions would reject your request. Therefore, these financial companies that do trust you need to ensure a minimum monthly income. They usually ask for a recurring income of € 500 per month. It doesn’t matter if it’s a payroll, pension, unemployment benefit or retirement, any income is valid.
Can I request a loan if I am unemployed and my name is in finacial credit institution?
As in the previous point, the answer is yes. As long as you can justify a minimum monthly income. This will be the only essential requirement to be able to apply for your loan online while unemployed and appearing on a delinquent list.
The procedures to request this type of fast paperless credits are usually very simple and will avoid long lines and waiting time. In addition, you will avoid that feeling of helplessness going to a bank and being denied your loan or credit card over and over again.
Are more interest paid for borrowing on a delinquent list?
The entities that grant Payday loans with finacial credit institution not only grant credits in this case, but also do so to people free of charge. Therefore, the loans are not more expensive nor do they have higher interest associated, even though the risk to them may be greater.
The purpose of these companies that grant mini-credits with finacial credit institution is to facilitate things and be able to grant money to everyone. Therefore, if your name appears on any of these delinquent listings, do not worry because you can access fair loans without paying more interest for your money. All the companies that grant this type of loans specify the money that you will pay in interest before making your request.
So, you can rest easy and know that with loans with finacial credit institution you will not have to pay exorbitant interest or contract associated insurance. These types of online credits have the same conditions for all people who request it, whether they are in finacial credit institution or not. The requirement, of course, is that you have a minimum monthly income.
Quick credits with finacial credit institution online
All entities where you can apply for your mini loans with finacial credit institution operate online. You just have to choose which is the company that offers you the best performance and inform you of all the details to be able to assess with total knowledge of the cause the option that suits you best.
The benefits of making your application online are many, but among them it stands out:
- Saving your time: Forget about endless paperwork with your bank and several visits with your manager. The online procedures are fast and simple. You will not have to visit different entities to know which one would grant you a loan.
Where can I apply for loans with finacial credit institution?
Next, we have selected for you all the companies that today grant microcredits even though your name appears in any delinquency list. Let’s see one by one what they offer, how to apply and how much money they grant.