Loans to protesters and bad payers with permanent contracts are a possible financing solution for those who have had negative reports due to previous financial problems, since the certainty of the pay slip allows workers in both the public and private sectors to contact to credit institutions and financial companies to request the transfer of the fifth, the type of loan that is usually granted more easily to those who have had problems with the balance of the installments of a loan, with bills or bank and postal checks issued without coverage. In this guide we will see how to apply for loans for protesters and bad payers with permanent contracts in the form of salary assignment, delegation of payment and debt consolidation.
Loans with payroll indefinitely: what solutions?
For those who are in the condition of being protested or a bad payer with a permanent contract, a loan can be disbursed by deducting the amount of the monthly payment directly on the pay slip: under this formula can therefore request
- employee loans
- delegation of payment
- debt consolidation
The preferred type of loan, which also applies to the other loans described above, is the transfer of one fifth of the salary, which allows obtaining a sum of money that is also significant despite having negative notifications for previous financial problems: the pay envelope and accrued severance indemnity represent sufficient guarantees for the bank so that those who have a permanent contract can obtain capital without any particular problems.
Cession of the fifth for protesters and bad payers, how it works
Applying for loans to protesters and bad payers with permanent contracts based on a salary assignment does not entail large variations in the request and in the functioning mechanism with respect to the submission of a request by a worker without negative reports: once the described documentation is presented in the next chapter, the same credit institution and financial company will advise the employer of the transfer. The differences that could be found in a cession of the fifth for protesters and bad payers can be essentially two, that is on the one hand the capital granted by the bank could be lower than what is required, especially if we are talking about large amounts, to meet the policies against insolvency risk dictated by the institution. But the most marked difference concerns the insurance policy against loss of employment and early death, which is usually presented as optional in an employee of the public and private sector, but very often the financial company instead places the obligation of underwriting for protesters and villains payers, before giving the green light to the financing.
The documentation to be presented
We now come to the documentation to be presented to request the transfer of the fifth as a loan for bad payers and protested with a permanent contract, which provides:
- Copy of identity card
- Health card or tax code
- Last two paychecks
- Salary certificate containing the date of employment
- Annual and monthly remuneration, both gross and net
- Amount relating to accrued TFR
- Any deductions already present in the pay slip
As we have already mentioned, the salary assignment is protected by the duration of the contract and by the TFR since that time accrued, so that public and private employees who request the loan must not present any guarantor or other forms of collateral, even if protested or bad payers. In addition to the documentation described above, the applicant must also sign a delegation that officially authorizes the employer to withhold the monthly installment from the salary that cannot exceed 20 per cent of the total, in fact a fifth: we also remember that the employer cannot oppose the sale of the fifth, but he was only informed of the transfer following the signing of the loan agreement between the bank or financial company and his employee.
The advantages of the sale of the fifth
In addition to being able to be disbursed to protesters and bad payers, there are several advantages of the salary assignment that make this type of personal loan the most practical and convenient financing formula for an employee who has a permanent contract, even in his most recent formulation of progressive protections introduced by the Italian government with the Jobs Act. The peculiar characteristics of the sale of the fifth are:
- Possibility to request even large amounts
- Amortization period between 24 and 120 months
- Fixed interest rate for all depreciation
- No guarantor required
- No proof of expenditure
- Possibility of obtaining a capital advance
- Disbursement that can be assessed positively also with other ongoing loans
- Possibility to renew the sale already in progress beyond a certain period of time
- Insurance coverage against life and employment risks
There are various types of permanent contracts: the part-time contract (“part time”) has predominantly spread over the past few years, which inevitably introduces critical issues in the mere disbursement of the loan with the sale of the fifth. Let’s see in detail what it entails.
Loan with part-time permanent contract
The financing opportunities provided may vary depending on the financial target, but for a loan with an indefinite part-time work contract general considerations can be made that help to understand how to move to obtain even in such situations p remained protested and bad payers with the sale of the fifth. First of all it is suggested to lower the claims and start asking for amounts that are not too high, then it is good to evaluate what kind of part time is taking place: in fact it exists a horizontal part time that allows you to work every day for half a week, and a vertical part time, so you work only on certain days of the week or periods of the month. This involves different assessments by the credit institution or financial company: in the first case, receiving an income every month of the year, it is possible to obtain a salary-backed loan or a debt consolidation, as we said at figures that are not too high. On the other hand, the situation is complicated with vertical part time, since it is not possible to guarantee a sustainable income for the entire period of amortization: in such cases the solution may be to use a guarantor, but it must be clarified that it is not easy in these situations obtain a loan, if not in the form of a loan with bills of exchange.
Loans to protesters with payroll: what minimum amount should they have?
Another issue to consider in obtaining loans for protesters and bad payers with permanent contracts is the amount of the pay slip, which must be substantial enough to allow the sustainability of the amortization. In the eyes of a credit institution it is necessary to start from a minimum salary net of the transferable fee, which is usually around a figure of 600 euros per month. Below this threshold access to credit through the sale of the fifth is particularly complicated.
Financing for new hires
Another complicated situation appears to be that of protesters and newly hired bad payers, who cannot make any accrued severance pay available since they have only recently been employed. In this case it is not easy to obtain a loan, having besides the financial inconveniences reported to the end-to-end knowledge company or in the other computer registers, and it is possible that the financial company, before accepting a loan application, requires additional protections and the signature of a guarantor third before proceeding to the signing of the contract and the disbursement of the capital, as well as placing the insurance policy as an additional coverage in the event of serious impediments that could affect depreciation.
The renewal of the fifth sale
If you have obtained a loan for bad payer or protested with a permanent contract, it is very easy to obtain also the renewal of the fifth sale, which basically involves a redefinition of the terms of the loan in progress once certain time steps in the repayment of the capital have been overcome obtained: thanks to the renewal it is possible obtain new liquidity extending the amortization plan, without these changes changing the amount of the installment. To carry out the refinancing application, at least 40% of the previously stipulated amortization plan must have elapsed, except for loans with a duration of 60 months or less, but in this case only if the new amortization plan will have the maximum expected duration, or 10 years (120 monthly payments).
Payment delegation for protesters and bad payers?
Depending on the type of problem that is at the base of the negative report, it is possible for an employee to get or not even a loan with delegated payment, otherwise known as double fifth of the salary, since in this case we are dealing with a double retention on perceived emoluments. It seems evident that it is necessary to have a salary of a certain consistency to withstand a double deduction, on the other hand giving the possibility of obtaining very high amounts: precisely for this reason the delegation of payment as opposed to the assignment of the fifth requires the authorization of the employer, who is not at all obliged to grant the double deduction on the salary, therefore it is also necessary to consider a possible refusal, especially for a protested or bad payer, for which those who have suffered protests or have not paid the installments of an old loan would do well to inquire first with their company about the opportunity to obtain a delegation of payment, and then contact a financial institution that can grant it although reported in the computer archives in negative way.
Debt consolidation with the sale of the fifth
The last financing opportunity that we want to consider by means of repayment with salary-backed loans is debt consolidation, which for a protestor or bad payer can only be paid through this formula, and not also through bulletins as is the case for an applicant without reports. What is it? Basically it allows those who have more funding to go to the institute and to consolidate all debts in a single repayment installment with a lower amount and at a more sustainable interest rate, extending the time to repay the capital, and at the same time obtaining additional liquidity in addition.
We have seen how loans to protesters and bad payers with permanent contracts are provided with a certain ease, relying on the certainty of a sustainable income through which to obtain a capital to be repaid through the sale of the fifth, unlike loans without payroll. Of course, there is a need to have an accrued severance pay at least a little substantial, and therefore not to be hired as soon as possible, in order to be certain of a rapid disbursement without having to resort to further guarantees, or other situations that could affect the contract as a net amount that is too low or a reduced part-time contract. However, especially if an amount of money is not demanded as too high, it is possible to obtain financing from protesters and bad payers with relative ease despite the negative reports for the mistakes obtained in the recent past.