Generally, when you apply for a loan, the financial institution consults with credit protection agencies or you have a negative name. If so, two things happen: Most lenders deny credit, and the lenders provide higher interest rates than if you had the name ‘clean’. But it is possible to get loan for negative and clear your name.

If you are looking to clear your name, you may have two options: the negative personal loan or the payroll loan. Before you go around looking for borrowed money, be careful not to fall for scams or trust anyone. Always look for a bank. Easy money does not exist!

Loan for Negative-Personal Loan

Loan for Negative-Personal Loan

Banking institutions offer this service to those with a dirty name. Except, interest rates are higher than normal due to the increased collateral the bank has on the customer’s payment.

But be aware. The higher the number of installments, the higher the interest. But most of the time there is no escape; To clear the name the debt must be paid.

Planning is the most important at this time. Freezing spending is necessary. Delaying loan installments can open the hole you are in.

Loan for Negative – Financial

Loan for Negative - Financial

Some financiers specialize in offering credit to negatives. In this case, the credit is only released to civil servants, retirees or pensioners. Credit can be released easier and even within 24 hours. But interest rates can be close to 20%.

Credit for Negative – Payroll Loan

Credit for Negative - Payroll Loan

Payroll Loan where the credit payment will be directly linked to or to the benefit (in case of retired or pensioner) or Payroll (for Employees or civil servants).

Finance companies, in some cases, accept home or expensive collateral as well. Search for the best medium for you. Always remember to read the contract well, see the terms of payment, and refer to the Total Effective Cost (CET), which is the amount of debt along with the interest rates you will pay until the end of the loan.

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