Credit application for banking prohibition

Once you are registered with the Bank of United States for a banking ban, borrowing can become difficult. However, this is not impossible. Learn more

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Credit application for banking prohibition

Once registered with the Bank of United States for banking prohibition, is it still possible to borrow? The banking ban means that we have payment difficulties, but people subject to the banking ban often need liquidity, mostly to obtain a means of transport or to unblock a difficult situation.

The banking ban affects 1 to 2 million French people every year. For 5 years, the individual concerned is no longer issued a checkbook but still has access to basic banking services: withdrawal card, account-to-account transfers, cash withdrawal and he can even pay with cashier's checks. Since the banking ban sanctions the issuance of bad checks or the abusive use of the possibilities of a credit card, the person concerned is prohibited from checking a checkbook and can no longer issue checks. It is up to the bank managing the account or to a judge to pronounce the sentence. The bank where the accounts are located may decide to close them and reduce the capacity of the individual concerned, but nothing prevents him from looking for another bank. In this situation, the Bank of United States may suggest a banking organization that will become the principal bank of the person concerned. The banking ban consists in particular of a form of filing at the Bank of United States which alerts all financial organizations and banks of the difficult situation of the individual, whatever the reasons for the banking ban. Registered in the Central Check File (FCC), the person now affected by the banking ban is also registered in the National Irregular Checks File. This information is therefore available to the banks and they are informed of the person's situation.

There are also other files. You can be registered with the FICP (Personal Credit Incidents and Refunds File). This file concerns payment incidents for a loan (non-payment of monthly installments, over-indebtedness file, etc.). This file simply indicates to the lenders the state of the credits of the borrower and the situation of unpaid credit. It is in this situation that it can be more complicated to apply for a new loan. Finally, the third and last file concerns the FNCI (National Irregular Checks File). This file lists data on theft, loss of checks and irregular checks. In order to know exactly their rights and to know where the interested party is stuck, it is possible to contact the Bank of United States directly, which can provide all the necessary information and direct the person to the banking organizations that have declared the irregular situation.

In this context, once registered with the FICP, it is absolutely impossible to contract any form of loan before 5 years, that is to say before the end of the banking ban. For people registered with the FCC, it will be possible but complicated to apply for credit. To do this, it will be necessary to regularize all its debts, to pay the creditors. It is also possible to contest the banking ban via a bank mediator by highlighting the errors made on the file and to justify the inflow of money which will allow the situation to be regularized with the creditors. Of course, a solid file will be required by the banks: a CDI, salary slips, a guarantor, real estate, etc.

However, from the moment the individual becomes banned from banking, the need for liquidity - to repay a loan, to finance his business, etc. - Do not stop. The chances of borrowing with a banking ban are reduced but not nonexistent. Several solutions can thus be offered to people wishing to borrow despite everything, especially if they wish to repay the loan that caused their ban and thus lift the banking ban.

Consumer loan

The consumer loan will be the most difficult to obtain, as almost everyone at the Bank of United States is denied credit. The advantage of consumer credit is that it constitutes a loan allocated to a specific good, available in a financial institution or in a bank.

Mortgage credit

If the borrower owns one or more real estate, he has the possibility of making a mortgage loan where the good will be the pledge of its repayment. The property will be sold by the lender in the event that the borrower cannot repay his debt. The amount of the loan will necessarily be lower than the value of the accommodation and is generally between 50% and 80% of the total amount of the property. The mortgage loan works like a traditional loan: the rate can be fixed or variable, the duration and the monthly payments are fixed in advance, an early repayment is possible. With a mortgage, the following credits are available: consumer credit, mortgage, credit redemption, personal loan and car loan.

Individual-to-individual loan

More and more structures are offering individual-to-individual loans. Like real banks, these establishments offer loans with interest rates, regular monthly payments and a fixed term. The money comes from individuals. Many sites offer these services.

The pawnshop

The pawnshop makes it possible to release money, even if you are prohibited from banking. It is possible to deposit at Crédit Municipal - also called Mont de Piété - an object (art object, bottle of wine, jewel, etc.) and in exchange obtain half of its value in cash. For certain objects, proof of purchase may be requested. The object can still be recovered for up to one year following its deposit or against reimbursement of credit and interest. In United States, it is not possible to drop off a vehicle at the Mont de Piété, this type of deposit can however be done abroad or through certain organizations that offer this type of service in United States.

A loan abroad

Borrowing abroad is possible and banks in the European Union can offer this possibility. Indeed, European banks do not have access to the Bank of United States file and cannot know the borrower's banking past. Each country has its own files but no synchronization has yet been initiated. Belgium, Switzerland and Luxembourg are often the destinations of choice for French people looking for an organization that is open to them. Please note, it is easier to borrow in the currency in which the salary is paid, in order to avoid the exchange rate and other inconveniences.

Social credit

Several banking or financial organizations offer social loans for people in financial difficulty. These credits can be used by people with a professional project but not having the funds to carry it out and especially by being in a situation of banking prohibition. The rates are very low and can sometimes even reach 0%. The CAF (Family allowance fund), town halls, general councils, ADIE, the Red Cross, housing solidarity funds, etc. can also prove to be ideal lenders for difficult situations and offer a social approach and counseling support, which can be a real advantage in a tense or complex situation. The social advisor is there to support the borrower throughout the duration of the loan and can also act, to a certain extent, as an intermediary with the financial organization in the event of a somewhat difficult time. The advisor is also an asset if the amount of money borrowed is used to achieve a real professional or life project, because he can legally support the project and find the best solutions with the borrower.

For further

The best solution is to pay off debts and try not to contract new ones. For this, the repurchase of credit by an organization which groups together all debts in a single monthly payment and simplifies repayment can be a solution. Of course, over the long term, loan repurchases become more expensive since the organization paid to consolidate debts charges for the service it provides, in particular through a higher interest rate. It is also possible to file for free an over-indebtedness file, at the risk of being stuck in the three files of the Bank of United States. The advantage of the over-indebtedness file is that a recovery plan will be proposed and support will be provided so that the person concerned gets out of the situation in which he finds himself. In the event that the interested party is unable to pay their creditors, a solution and support will be offered. The over-indebtedness file amply limits the consumer's freedom concerning the possibility of borrowing, of having a credit card and a checkbook so it is a question of thinking well before embarking on the process.

Many solutions exist in the event of a banking ban and each one corresponds to a specific situation and context. People in a banking ban situation represent various cases and before choosing a solution, even if it seems easily accessible, it is strongly recommended to study each possibility at length and in particular to explore the online offers but also to meet as soon as possible. as possible counselors and talk about the situation.