Negative loan: What is the best in 2021?
there are millions of people in default. And, precisely when you are in this situation, you need more credit to pay the bills and debts. But it is also in this case that it becomes even more difficult to get approval for cash loans from banks and finance companies.
It is precisely for this reason that the financial market exists, albeit very rarely, for a negative loan. It is a credit that is offered to those who have a dirty name in the square.
But it is clear that, due to the situation of borrower, there are conditions for a loan like this to be approved. And the fact is that these conditions are not always ideal.
To help you, we will show in this article how the negative loan works, when you should choose one and, the main one, how to choose the best among so many offered today.
First, the most important
- The big banks do not offer loans for negative payments, but there are other types of loans that can help those with a dirty name.
- There are also companies that specialize in providing personal loans to people with name restrictions.
- But care must be taken when choosing the company and the best type of loan for negative payments so as not to fall into a blow, something currently resorting to, or even to get into more debt.
- Let us show you what are the criteria that you must consider to choose the best loan for negative.
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Best Negative Loans: Our Recommendations
Finding a company that offers a negative loan and that offers the best terms is not an easy task. That way, while it is not possible to guarantee that your loan application is approved, we have selected the best institutions that offer loan modalities that can help you. Check out:
- The most popular loan of all
- The best payroll loan of all
- The ideal loan for retirees
Acquisition Guide: What you need to know about negative loan
Here’s a tricky situation: You don’t pay for a service or product and you end up with a dirty name. So, to try to shoulder your debt and clear your name you are looking for a loan.
But, of course, if you are in an irregular situation because of the dirty name, which is known as being negative, banks and financial institutions will most likely deny the loan application. So, what to do in this situation?
The good news is that all is not lost. But it takes care, attention and knowledge on the subject to get a loan for negative. And that is what we are going to deal with in this Acquisition Guide.
What is negative loan?
Loan for negativado is the credit granted by a company to those who are in default, that is, those who have a debt in the CPF for not having paid the debts.
Most financial institutions reject loan requests from those who are in default.
But the fact is that the loan for negative is rare. After all, most financial institutions end up rejecting loan requests from those who are in default.
This occurs precisely because of the risk that the defaulter will not also pay for the loan. In other words, the great difficulty in obtaining a loan for negative payments is to prove that, despite having a dirty name, you will pay the loan.
But if you have a dirty name and an irregular CPF and you still find a financial institution that grants you a loan, it is important that you know that the main characteristic of a loan for negative is the high interest rates that are charged.
The negative loan is characterized by having very high interest rates, but there are other types that can help those with a dirty name.
Still, as we will see later in this article, high interest rates are not a rule for the negative loan.
This is because there are other types of money lending that can help you, even though the conditions may be even more severe compared to high interest rates.
How do you know if your name is negative?
Having a negative name means that you have an outstanding debt at a store or financial institution.
And, having an active registration in one of the credit protection agencies such as, for example, the Credit Protection Service (SPC), Serasa and the CCF (Registry of Issuer of Checks without Funds), your name is negative until that you pay your debt.
With a negative name, financial institutions can understand that you are a bad payer. But, to check if your name is negative, you can go to one of these agencies to make the consultation or even access the Serasa website with your CPF and check your situation.
Today there are more than 63 million people in default ( 1 ) . For you to have an idea, one of the factors that most contribute to this scenario is the interest on the credit card, since the minimum payment of the invoice tends to turn the card debt into a snowball.
And the fact is that having your name negative can become an obstacle not only to apply for a loan, but also to get a new credit card, as banks and financial institutions usually do credit analysis before approving your order.
So if you want to clear your name and stop being negative, you should ideally pay your debt or try to renegotiate it with the company you owe.
What are the types of loan available to the negative?
Experts generally agree that if you have a dirty name it will be difficult to get a loan from a bank or a serious institution. And if you can, you will need to pay very high interest rates.
But the fact is that there are some types of loan for negative that can serve as an alternative for you precisely because they have lower interest rates. On the other hand, as a counterpart, you will need to commit more valuable assets.
Check out the characteristics of each of these loan modalities:
- Payroll loan: This option is for those who are public servants, retired from the INSS, or employees of the private sector. Payroll loans have much lower interest rates, as they are deducted directly from the debtor’s payroll. Therefore, it has less risk for creditors.
- Loan with vehicle guarantee: In some financial institutions it is possible to leave your vehicle as a guarantee to have access to a loan. However, it is important to make it clear that if you do not pay your installments you may lose your vehicle.
- Loan with property guarantee: Another type of loan for negative is that in which you leave your own property as collateral. It is a risky type of loan, after all, in addition to the need to own a home, you still risk losing it if you do not honor the payment of the loan.
- Pledge: This type of loan for negative is more rare, but when available it does not usually consult the SPC and Serasa, which is ideal for those who are negative. In this type of loan, you leave jewelry and value goals in exchange for the money you borrowed.
Is there a loan for self-employed negatives?
If you are self-employed, are negative and are still looking for a loan, the situation is even more complicated.
Because there is no way to prove income and employment, many lenders may bar your loan application. However, some institutions may still offer alternatives for you.
To increase your chances of getting a loan, you can present your bank statement with the transaction for at least three months. Another option is to formalize your work, becoming a microentrepreneur.
And, if you have your own property or vehicle, you can use one of the negative loan types mentioned above.
When should you apply for a loan for negative?
The vast majority of financial experts agree: You should only apply for a loan for negative in an emergency.
This type of loan has too expensive an interest rate.
This is because, as we have seen, this type of loan has too expensive an interest rate. And when it is possible to lower that interest, you will need to put your only assets at risk, such as home and vehicle.
Therefore, before going after this type of loan, we recommend that you look for other alternatives such as, for example, renegotiating the debt, either through discounts or paying in more installments.
Why should you apply for a negative loan?
On the other hand, if you tried everything, but what was left for you was to ask for a loan for negative, know that there are still many advantages if you take the necessary precautions.
The main one is that if you choose a loan that you can repay without increasing your debts, you will be able to clear your name. And the fact is that getting the name dirty can cause many problems. Here’s what happens if you have a dirty name:
- You can lose a job opening;
- You cannot take any public office , even if you pass a contest;
- You cannot open a checking, savings account or purchase a new credit card.
Can the bank deny any negative loan modality?
Even if you choose one of the loan modalities that, in general, do not check whether you are in default or not, the financial institution or the bank can still deny the loan.
This can occur even in the form of payroll loans. The fact is that the approval of the loan or not varies according to the financial institution.
That is, there are banks that release money only when there are lighter restrictions on the CPF, while others do not grant loans at all to those with a dirty name.
Did you know that the best credit card for those who are negative is the prepaid card?
With this type of card you make a deposit and spend only the amount available on the balance.
Still, there are negative points, as it is not possible to split purchases and you need to pay extra fees for using the card.
What happens if you don’t pay the loan back?
Whatever type of personal loan you acquire, you must pay it back to the bank or financial institution. Otherwise, you will have problems in countless situations.
The main one is, of course, getting the name dirty again and, consequently, it becomes more difficult to get another loan, in addition to other problems that, as we have seen, can disrupt your life.
In addition, those who delay the payment of a loan can create an even more expensive debt, since the interest on the delay will cascade over the interest on the loan itself. The result, then, will be a snowball increasing the value of your debt more and more.
To escape this, it is important to choose a negative loan whose installments and interest rate you are able to pay.
What fees can be charged on the negative loan?
In addition to interest, each company can charge the most varied types of charges when approving a loan. In addition, the fees for each fee may also vary from one institution to another.
So, be aware of this before signing the contract. However, in general, there are some fees that are usually charged by all financial institutions. Check out the main ones below:
- Interest rate
- IOF (Tax on Financial Operations)
- Registration fees
Negative loan: How to avoid falling into a scam?
The main care you must take before closing the deal to acquire a loan for negative is precisely with the suitability of the financial institution.
This is because, currently, there are many companies that have been scamming defaulters. The most common scam is one in which the company asks the customer to deposit an amount of money in order for the loan to be approved.
Never pay any fees before receiving the loan. This practice is illegal. The rule is: First you get the loan, and then you start paying for it.
Fraudulent companies take advantage of the desperate situation of defaulters to apply scams like this. So look for trusted institutions with a tradition in the market.
To do so, consult the company’s history and reputation on sites such as Reclame Aqui and also on social networks. Based on the experience and evaluation of other customers, it is possible to check the suitability of the company and avoid falling into scams.
How and where to get loan for negative?
Banks and financial institutions are responsible for offering all types of personal loans.
In general, banks are more discerning and have more requirements to approve or disapprove the cash loan. So much so that, in reality, most banks do not grant loans to negative customers.
In addition, although it is not a rule, in general, you must have an account with the bank in question to apply for a loan.
Financial institutions, on the other hand, tend to expand the possibilities of loans for negative credit. On the other hand, in general, they are the ones that weigh the most on the interest rate of these loans.
In addition, as we have seen, you need to pay close attention to the type of company that will make the loan available to you in order to avoid falling into a scam.
In general, companies allow you to apply for the loan to be denied by the official website or even at the institution’s physical headquarters.
After you apply for the loan, just wait for the response from the company that will review the application and its documents. If your order is approved, the money will fall directly into your checking account.
How is the analysis of the loan for negative?
Before approving a loan for negative debt, banks and financial institutions carry out careful analyzes of their documents and personal and consumption data.
In addition, to approve this type of personal loan, some companies usually request some proofs, such as:
- Official document with photo , for example, ID, professional organ card, National Driver’s License, passport and work card.
- Proof of income that can be payslip, paycheck, bank statement, work card, income tax return and etc.
- Proof of residence such as water, electricity, telephone bills; rental agreement, credit card bill, FGTS statement, among others.
Does Serasa Score interfere with loan approval?
Before answering this question, it is necessary to understand what the Serasa Score means. Serasa is a private company that registers debts and offers credit solutions and data consultation.
And the Score is a score that varies according to your financial habits and determines whether or not you are a good payer. That is, through it it is possible for an institution to know its capacity to keep up with the payments of loans and financing.
The Score takes into account data such as your debt history and your monthly income, among other information related to your consumption habits.
This results in a score ranging from 0 to 1,000. The higher the Score score, the greater the chances of your credit application being authorized. Below is how the Serasa Score works in general:
- Up to 300 points: High risk of default
- From 300 to 700: Average default risk
- Greater than 700: Low risk of default
Thus, even though each financial institution has its own rules for approving or denying a loan application for negative, it is very common for the Serasa Score to be taken into account during the assessment.
What are the advantages and disadvantages of the negative loan?
As we have seen, the negative loan can have advantages and disadvantages. If approved, this type of loan allows you to have the money you need quickly.
Another advantage is that there are several modalities that allow those with a dirty name to acquire a loan.
However, as we have seen, there are many disadvantages as well. The first is, of course, the fact that most banks do not offer this type of credit line.
Another major disadvantage is the interest rate, which is considered one of the highest in the market. Not to mention that there is no guarantee that the institution will approve the loan for negative.
For you to have an overview on the main advantages and disadvantages of the negative loan check out the table below that we have prepared:
Acquisition Criteria: How to choose the negative loan
There, you have decided that the negative loan is your only solution. After choosing a bank or financial institution you trust and the best option available, it’s time to analyze the best proposals.
Therefore, it is necessary to take into account some factors that differentiate one type of loan from another. Check out the main ones below:
- Interest rate
Below, we will explain in detail each of these factors.
First, you must perform a simulation on the bank or institution’s website. With this, you must determine the loan amount you need and in how many months you want or can pay.
Once this is done, you will discover the approximate monthly installment that you will have to pay for the loan to be negative.
It is essential that you choose a negative loan whose installment you are able to pay to avoid further debt. Remember: you will have to pay this installment all month.
One tip is to look for loans with more installments and smaller installments so as not to further compromise your budget.
Also evaluate the CET (Total Effective Cost) which contains all fees, fees and charges that will be charged for your loan.
Of course, the lower the CET, the less you will pay at the end of your personal loan. So, calculate all fees to make sure that you will be able to pay everything in the end.
As much as the CET also includes the interest rate, experts recommend that you also take interest into account separately.
This is because in fact it is the interest rate that most increases the final amount that you will have to pay to the bank or financial institution. And, depending on the company, the interest rate for the loan can reach 957.55% per year.
Another factor that you must analyze is the conditions of the loan for negative. In this case, we deal with the fact that most companies offer the loan only to those who are civil servants, private employees, retirees or pensioners.
Therefore, if you are self-employed or unemployed you must confirm that the loan is also valid for your situation, what are the conditions for it to be granted.
Amid so many options for applying for credit, the negative loan is in fact the most complicated to obtain. When approved, interest rates are too high or conditions too risky.
Therefore, you must research well before committing to a loan for negative, even to avoid scams so common these days.
To prevent this, check the company’s situation and take into account the fees, interest and installments that you will have to pay each month.