Loans with delegation to protesters and bad payers

Loans with delegated authority to protesters and bad payers represent one of the possible financing solutions for those who have had previous financial problems, and therefore have been reported in the Crif register or in the protest register, resulting in a serious difficulty in accessing credit. However, for employees with permanent contracts, both in the public and private sectors, the delegation of payment, having many assonances with the assignment of the fifth, can be included among the loans to protesters and bad payers actually payable by credit institutions and financial companies: in this detailed guide we will explain what they are and how to get the loans with delegation to protesters and bad payers, what are the differences with the “classic” fifth sale, and the financial conditions applied by the credit world on average on this type of financing.

Loan with delegation, what is it?

Loan with delegation, what is it?

The loan with delegation is an additional credit opportunity for employees in the private and public sector, otherwise known also as double fifth of salary, precisely because this method of financing allows to double the amount requested through direct withholding in part of the salary,

reaching a total of 40 per cent deduction on the total amount disbursed. With the delegated loan, therefore, a very high amount of financing can be obtained, with a monthly repayment installment of two fifths of the salary.

Given these premises, it is clear that the loan with payment delegation is part of the loans that can be disbursed to those who had previous financial problems, provided that they are employees: a first big difference compared to the sale of the fifth, in addition to the others that we will see in detail in the next chapter, is that loans delegated to protesters and bad payers cannot be requested by pensioners, since the state sets a minimum survival threshold that cannot be exceeded. The double fifth is reserved exclusively for employees with permanent contracts.

Delegation of payment and assignment of the fifth, what differences?

Delegation of payment and assignment of the fifth, what differences?

If the basic mechanism on which the amortization is based is the same, thus making it possible to pay loans with delegation to protesters and bad payers, there are important differences between the assignment of the fifth and the delegation of payment: in addition to the limits on age registry of applicants, which make pensioners excluded from financial treatment, there is a substantial difference

regarding the authorization to finance: while in the fifth assignment the employer is obliged to pay the deduction by paying it to the credit institution or financial company, in the delegated loan the employer’s consent is required, which can therefore oppose a refusal to apply for funding.

The existence of the judgment of merit therefore creates a gap between the theoretical and practical possibilities, especially for those who have been protested or reported for not having paid the previous installments of a loan: admitted to finding a financial willing to pay them, in order to obtain loans with proxy for protesters and bad payers, it is necessary to obtain the go-ahead from their employer, who can deny consent, or enter into the merits by imposing a reduction in the amount, even by orienting the worker to converge towards a more simple transfer of the fifth, which does not require the consent of the employer but necessarily imposes a monthly payment that cannot exceed 20 per cent of the total salary, with maximum repayment terms in 10 years.

The requirements for access

The requirements for access

The loan with delegation can be requested by all employees, both public and private: the requirements submitted to the scrutiny of the provider and with the final consent to the employer’s access foresee:

  • Permanent contract
  • Length of service and relevant accrued severance indemnity due to the request for money
  • Supplementary pension (optional but useful for the purposes of consent)

The delegation of payment is a financing solution that can be provided to employees who have already signed a fifth assignment but need to increase the amount of money, having the possibility of supporting a double deduction in payroll equal to 40 percent of the total fees.

Characteristics of the loan delegated to protesters and bad payers

Characteristics of the loan delegated to protesters and bad payers

The loan with delegation to protesters and bad payers is a possible loan even if not easy to obtain, and much depends on the type of misunderstandings borne by the worker, the type of contract and related salary that is enjoyed, even the company where you work. All variables that may affect the willingness of the credit institution to provide the required capital. Then there is a time factor that undoubtedly places great demands on the worker: well,

the times for obtaining the loan with delegation, despite the diversity of the procedures of each individual bank or financial institution, can inevitably lengthen for protesters and bad payers. From the instruction of the practice with the related documentation to support the application, up to the disbursement of the capital after the definitive go-ahead, it goes from a minimum of ten days to an indefinable maximum, which may depend on any additional documentation that may be required in the individual case.

One way to reduce waiting times can be a loan request by proxy online, addressing those financial companies that operate mainly or exclusively on the Net, both for making a quote but also for all subsequent steps of a financing practice, knocking down time and costs, financial support is needed for the customer. Finally we recall as a peculiar feature of the loan with delegated to protesters and bad payers that it is a fixed-rate loan, and therefore the amount of the repayment installment remains constant for the entire duration of the loan, with a charge that occurs directly on the envelope pay.

Early repayment of the proxy loan

Early repayment of the proxy loan

In case you want to pay off the remaining amortization of the debt first, the loan will be repaid by proxy also for protesters and bad payers, by forwarding a specific request to the credit institution including a copy of the attached ID. Once the request has been sent, within a maximum of ten days the bank or financial office will send you the extinguishing account, ie the total amount to be paid to pay off the loan: the beneficiary can make

payment by bank transfer to the IBAN indicated in the document sent by the credit institution, by the date indicated. As regards the presence of penalties or ancillary charges related to early redemption, just as in normal personal loans the residual capital must be paid plus, where it is explicitly provided for and reported in the loan agreement, an increase equal to 1 per cent of the capital residue itself.

Anyone who extinguishes the debt early in any case is entitled to a reduction in the residual capital by the lender, which involves these cost items:

  • Share of unearned interest
  • Share of the unused insurance premium
  • Other cost items related to the residual debt

Lastly, we remind you that the employer must also be informed of the early extinction, again because it is a double deduction in the pay slip which is paid by the employer himself and not by the worker. At the end of the procedure the credit institution or the financial company, having received the balance for the early repayment of the proxy loan, will send the applicant and the employer a release certifying the conclusion of the loan, putting an end to the monthly deductions on salary.

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