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Being in debt and seeking loans can seem like a maze with many dead ends.
Many companies promise easy solutions, but the reality is different. If rejections and frustrations are part of your search, this article is for you.
Is it possible to get credit with a bad credit rating?
Many advertisements promise loans to those with restrictions on the SPC and Serasa. However, even if the company is open to negotiating with those with negative credit scores, This does not guarantee automatic approval.
Understanding this is essential: a company's willingness to provide credit to those with bad credit does not mean that it approves all applications.
Although having a bad credit history is not an immediate impediment, as in many banks, there is still a rigorous credit analysis process. This process seeks to ensure that the customer can fulfill the commitment, evaluating aspects such as income and financial stability.
Therefore, a loan refusal is not necessarily due to a bad credit rating, but rather due to insufficient guarantees provided by the client.
However, this does not constitute false advertising. The company is still willing to grant credit to those with bad credit, but always under certain conditions.
If you’re facing significant financial challenges, this type of loan may not be right for you. We’ll soon explore more viable options for those dealing with larger debt burdens.
Loan options for people with bad credit
In the previous topic, we understood why many customers are not approved even for loans for those with bad credit.
And, as we have seen, the reasons for this to occur is because the creditor did not find guarantees for approval.
This is because credit analysis does not only consider whether your name is clean, as it also assesses the customer's payment potential.
Therefore, if your payment potential is low, it will not be possible to obtain credit even in this modality.
But if you think that all is lost, don't worry, we have solutions.
That’s because all you need to do is start looking for the right type of loan.
And, if your profile does not provide guarantees, then the ideal is to look for loans that have guarantees.
We currently have a good number of proposals, which even involve the use of FGTS.
So, see below what options are available!
FGTS advance
When we talk about loans for people with bad credit, many people immediately think of options that depend on goods under warranty.
And for a long time, these were the only alternatives.
But the good news is that this has changed, and there are now proposals even for those who do not have assets.
We are referring to the loan that is often called “FGTS Advance” or “Early withdrawal on anniversary“.
The advantage of this type of loan is that you You do not need to have any guarantee, other than the FGTS account balance.
Furthermore, there is no need to worry about paying bills, as discounts are made automatically from the FGTS account.
So that you understand how it works, here is a brief explanation.
The FGTS loan is made based on the advance payment of up to 10 years of installments of the anniversary withdrawal.
Therefore, if before you had to wait for an opportunity once a year to withdraw your amount, now it is possible to withdraw up to 10 years in advance.
These discounts are made by the bank itself, so you you do not need to make any payment.
In this way, the default becomes virtually impossible, which offers guarantees to the bank.
Therefore, if you are looking for a loan for those with bad credit and have funds in your FGTS account, consider this option!
It is worth mentioning that several banks offer this proposal, including:
- Federal Savings Bank;
- Bank of Brazil;
- Santander;
- Bradesco;
- Inter;
- C6 Bank;
- Pan Bank.
- Between others.
Loan with assets as collateral
We know that in many cases the need for a loan is due to high amounts.
Therefore, it is necessary to find options that allow you to request higher amounts, which is not always possible with the FGTS.
In this case, your best alternative is a loan for people with bad credit with assets as collateral.
In this option, the loan is granted upon presentation of some asset as collateral.
The most common is the presentation of properties and cars.
However, in some more specific cases, other types of goods may be accepted, according to the conditions of the bank in question.
The advantage of this modality is that you can request higher amounts, corresponding to the asset presented.
And, as the asset is used as collateral, credit analysis is not considered for approval.
But be careful, as this is a risky option, where you can lose your property in case of default.
Therefore, it is important that you study the proposal very carefully and sign up consciously!
Loan for people with bad credit, private or public
And the last type of loan for those with bad credit that is easy to approve that we will look at today is the payroll loan.
For a long time, the payroll loan was only granted to INSS retirees and pensioners.
The reason for this is the payment guarantee, since the installments are discounted directly from the benefit payroll.
Therefore, there is no possibility of not paying, since the social security benefit already comes with a discount every month.
For this reason, the interest applied to this type of contract is also lower, which makes it even more advantageous.
However, things have changed a little now, so that consignment is now also permitted for employees of private companies.
This proposal is called a private loan, and it works in the same way, so that the installments are discounted directly from the source.
As with the previous examples, in this modality, credit analysis is not the main criterion, since payment is already guaranteed.
So, if your company has an agreement with the bank, it is worth trying to apply for your Payroll loan!
Or, if you are retired or a pensioner of the INSS, it becomes even easier!
So, these were the loan options for those with bad credit that actually have the highest chances of approval.
So, be sure to check them out to find the best proposal for your profile!
