If you have a fifth-year assignment in your salary but you need to have additional liquidity to cover other unforeseen expenses how can you get another personal loan? On the basis of the fifth assignment legislation, it is not possible to have a deduction in your pay envelope of more than 1/5. However, it is possible to request another loan, with the consent of the employer, which can cover an installment of 2/5 of the net salary: the loan for payment of the loan.
In some cases, the beneficiary of the salary assignment can also request the renewal of the assignment, instead of requesting another personal loan, but there are limits linked to the duration of the contract: the renewal of the salary assignment is possible only at the time in which at least 2/5 have passed since the signing of the contract and at least 2/5 of the agreed installments have been paid during the loan.
In the event that the salary-underwriting contract was signed within 2/5 of the contract’s duration (if the contract is 10 years the 2/5 are 4 years) it is therefore possible to request the form of financing of loan delegation, with which you can get a liquid sum equal to the assessment of the monthly installment that must not exceed 1/5 of the remaining salary from the sum of 20% already committed with the sale of the traditional fifth.
Assignment of the fifth and loan delegation: FIRST SOLUTION
In the event that you have the need to have a liquid sum to sustain other expenses, the loan is the ideal solution for those who have a fifth sale in progress and do not have access to other consumer credit solutions. The delegated loan thus becomes a sort of second fifth assignment that covers a maximum monthly installment amount equal to the fifth remaining transferable salary.
To obtain the delegated loan, however, the consent of the employer is necessary, which assesses the feasibility for the applicant to settle the installments on a regular basis. In this second form, personal loan, unlike the fifth assignment, the employer is not obliged to accept the automatic deduction of salary. The company has the right to oppose the signing of the loan for payment of power. The employer must grant the fifth assignment assignment defined in a document which notifies the loan agreement and the commitment to pay the monthly installments deducted automatically from the salary of the employee to the credit agency.
The proxy loan is the only solution to obtain a new sum of liquidity if a part of the salary has already been committed with the salary assignment: the maximum contract is 120 months, or 120 monthly installments, with a maximum capital payable up to 30,000 USD.
Assignment of the fifth and debt consolidation loan: SECOND SOLUTION
A second solution for obtaining another personal loan if you have a sale of the fifth in progress and need a new liquidity is to request the loan to consolidate all other loans, or enclose all monthly installments in a single maxi installment, with a single maturity and a reduced amount, more manageable according to one’s economic needs.
It is therefore possible to request a personal loan for debt consolidation: the monthly installment is recalculated based on the new economic requirements and the sustainability of the monthly amount, extending the duration of the previously stipulated contract. In this way it is possible to extinguish the assignment of the fifth of the previous salary having the possibility to reorganize its financial situation with a new installment and a new loan.
The consolidation of debts with the assignment of the fifth is the second feasible solution for employees with seniority of at least 6 years and a sum of severance pay with a value sufficient to constitute a solid guarantee in the event of insolvency. On the basis of the amount accrued, the new amount of the maximum payable capital is assessed, which must never exceed 2/5 of the salary. To better understand, also observe the following table which shows the cases of the assignment of the fifth and the request for debt consolidation, especially useful to obtain a new liquidity to support urgent and sudden expenses:
|ASSIGNMENT OF THE FIFTH + DEBT CONSOLIDATION||INSTALLMENT AMOUNT ASSIGNMENT OF THE FIFTH + CONSOLIDATION||TOTAL INSTALLMENT OF PAYABLES CONSOLIDATION|
580 USD TOTAL
Sale of the fifth and first home loan: THIRD SOLUTION
If you have a current fifth sale, you can also request a loan to purchase the first with a monthly installment deducted automatically from your salary. The only limit is that of the total amount of the two installments which does not owe 2/5 of the salary. In reality this solution – sale of the fifth + first home loan – is not very simple if not for very high monthly salaries or for those who have a strong liquidity to be advanced for the purchase of the house. To better understand, also observe the following table:
|EMPLOYEE LOANS||MAXIMUM CAPITAL DELIVERED||LOAN FIRST HOUSE|
REMUNERATION USD 1,500:
|APPROXIMATELY 22,000 USD||FROM 50,000 USD THEN|
Assignment of the fifth and renewal: FOURTH SOLUTION
As mentioned above, it is also possible to request the renewal of the current fifth assignment, but only if more than 2/5 of the duration of the contract has already passed. In a 10-year fifth transfer, for example, it is possible to request and obtain renewal only after the 4-year contract and to have regularly paid 48 monthly installments: the maximum capital disbursed as the amount of the installment respect the values of the maximum transferable amount equal to 1/5 of the net remuneration.
On the other hand, in the event that the early repayment of the loan contracted with the salary-backed loan is required by paying the residual debt in a single payment, it is possible to request the renewal of the fifth assignment only one year after the date of termination. early. Furthermore, if the previous assignment of the fifth had a duration of 5 years, the renewal of this type of financing is possible only if the applicant enters into a 10-year contract.
With the renewal of the sale of the fifth during a sale of the current fifth it is possible to pay the debt contracted by extending the duration of the loan agreement: the sale of the pre-existing fifth replaces the old sale that is extinguished and the beneficiary can obtain a new liquidity with which can repay the installments of the new sale but also bear the expenses for which it has requested a new loan.
|ASSIGNMENT OF THE FIFTH + RENEWAL||TIMES AND LIMITS||SIMULATION|
|ASSIGNMENT OF THE FIFTH WITH 10 YEARS CONTRACT||
RENEWAL OF ASSIGNMENT:
|ASSIGNMENT OF THE FIFTH WITH A 5 YEAR AGREEMENT||NO WAITING TIME||
RENEWAL OF ASSIGNMENT: