Traditional banking entities are usually reluctant to grant mini-credits to individuals who, due to different circumstances, were unable to pay a debt in the agreed periods of time and therefore ended up in a delinquent file.
However, at present these individuals can request urgent ASNEF credits in online loan companies that meet the requirements imposed by the Bank of Spain. These online mini-loan companies are aware of the difficulties involved in getting out of these databases (it can take years) and offer facilities so that a debt from the past does not further aggravate a current emergency such as paying a mechanical fix, having money to vacations or solve a medical emergency.
The National Association of Financing Entities is a database of defaulters managed by Equifax that includes Spanish subjects who have contracted some debt with their associated companies. It is the largest delinquent file in our country and is used for different companies to avoid financial risks with people who already had problems paying their debts in the past. Currently, more than 1,000 telephone operators, Treasury, insurance companies, banks, electricity companies, etc. use their services.
Spanish legislation is very flexible when it comes to specifying the requirements to enter and leave Asnef, but in general if an individual fails to comply with their financial obligations (such as not paying a debt or invoice), current law allows it to be included in this file making it difficult to apply for quick loans in the future. The worst of all is that getting out of the delinquent base even though the debt has been paid is not that simple since it is a process that can take up to six years.
The good news is that it is not necessary to wait six years to request an immediate loan since the best online mini-loan companies offer urgent Financial Credit Institutions to individuals who prove that they have a current regular income such as a salary or a pension. There are also companies that accept applications for quick loans if an endorsement is presented, especially when the amounts requested are higher.
Depending on each case, the urgent money can be received in less than 24 hours. But you must bear in mind that it will be essential that you are of legal age, have Spanish nationality or reside in Spain and have a bank account in a Spanish bank.
No, in our country, when offering a quick loan, the databases of the Registry of Unpaid Acceptances (RAI) and the Experian Bureau Business can also be taken into account.
Making a request directly to this Association and following the instructions indicated (you have to send a series of documents) or waiting six years.
To find out if you are in this file of defaulters, you can request your request directly by email to the Association, or ask your bank to check if you are in their database.
It depends on whether you are already a registered user on their digital platform or not. If it is going to be the first time you apply for a loan online, it will probably range between 50 and 1,500 euros. Although if you include enough guarantees or accounts with high regular income (payroll, pension), this amount may be higher.
The interest rates are higher than those of other financial products and the repayment terms are usually shorter, even just one month. In addition, in the event of an extension, they may present high commissions.
Not necessarily, the most important thing is that the imposed fee is met before the due date since the interest for each day of delay begins at 1%.
The most important ones will be your ID, passport or NIE to verify that you are of legal age and resident in Spain; and your bank statement to check your monthly income and expenses history and assess your personal case.
Jerome P Allison ( LinkedIn )