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When the duty risk center reports you as a “bad payer”, the relationship with the bank becomes even more difficult. At that time, you may risk entering a tunnel, and out of desperation you may ask for money from loan sharks. According to the latest national over-indebtedness report prepared in 2022 by the research office of the “Debt-Free” Association, 7 million Italians are unable to repay their debtsMore generally (source state), by 2022, more than 2.18 million households will still be in absolute poverty, accounting for 8.3% of the total, while this proportion was 7.7% in 2021.
Relief Loans
Exciting figures. But also because sometimes a sudden illness or bereavement is enough to create a marginal situation that opens the way for loan sharks. That’s why we need prevention. This time the Italian legislator saw the light. In fact, what often breaks the debt spiral are the “rescue loans” granted by some banks, thanks to the guarantees provided by the Fund for the Prevention of Usury, set up by the Ministry of Economy (MEF) under Law 108 of 1996. This financial instrument provides large amounts of money to households and businesses.
Since its first year of activity, the Fund has disbursed approximately €678 million and guaranteed more than 85,000 loans totaling more than $2 billion.
Anti-Usury Trust and Foundation
Small and medium-sized enterprises with higher financial risks can turn to Confidi (business consortiums), while families in difficulty can contact anti-loan sharking associations and foundations. The consortiums and foundations provide guarantees to banks and assess individual cases to determine whether the conditions are met. The Mef website (www.mef.gov.it) contains a list of 181 sponsoring agencies.
Home and Features
Here we take care of our families. This is how financing works. People in debt turn to anti-usury foundations, Catholics gather at National Anti-Usury Commission “John Paul II”, These institutions, in turn, rely on Caritas listening centers, where many former bank volunteers evaluate the families’ applications. If the request is approved, a “settlement and write-off” is broadcast: the foundation proposes a settlement to the creditors of the indebted family.
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