Debt consolidation with salary-backed loans, but also with a loan delegation, makes it possible to order one’s own financial situation and include in a more sustainable installment all the loans in progress, which therefore do not include only the personal loan obtained with the sale of the fifth. With an amortization plan of more than 120 months – the maximum term granted with the assignment of the fifth – it is possible to have a lengthening of the duration of the loan contract, personalizing your repayment plan for the installments and in this way also the amount.

Debt consolidation near me- get one now

The choice to head to the DeDebt site is perfect for debt consolidation and if you wish to combine all the monthly installments of several loans in a single installment that includes all the sums due. The advantage of consolidating debts with the sale of the fifth is the reduction of the installment amount and, above all, the increase in the amortization plan. In the fifth assignment, in fact, it is possible to obtain this type of financing only with a repayment plan up to 10 years for which the monthly payment has an often heavy amount even if it can never exceed more than 1/5 of the salary or pension net.

Debt consolidation is a form of financing that is not finalized, ie the requesting party requests it to enclose all the loan installments in progress, including the salary assignment, but it must not produce documentation to justify the destination or use of the capital that the credit agency will provide. In fact, the provider evaluates the residual sum of the capital of all the installments, including the salary assignment, and corresponds to a capital that is paid directly to the applicant: with this sum, he balances the total debt in a single payment. Following the balance of all the loans in progress, the subject beneficiary of the loan corresponds to a single monthly repayment installment and with a single fixed maturity, the capital disbursed by the institution that granted him debt consolidation.

The consolidation of debts with the assignment of the fifth is the ideal solution for workers who present the deduction in their salary or pension of 1/5 of the net salary and are in economic difficulties: this type of financing allows, in fact, to extend the amortization plan over 10 years and reduce this the installments. Furthermore, with debt consolidation it is possible to request the liquidity needed to sustain other urgent expenses, capital that will have to be included in the sum to be repaid and in the calculation of monthly installments.

Debt consolidation with salary assignment: WHAT TO EVALUATE

Debt consolidation with salary assignment: WHAT TO EVALUATE

The interest rate of the debt consolidation is usually lower than the interest rate of the individual loans, considering that this form of financial product has been designed specifically to bring together all the installments in a single maximum but reduced amount, just to help those who they are no longer able to make up for the payment of ongoing loans. The debt consolidation solution is, in fact, also indicated for those who cannot access any other form of consumer credit and who do not wish to incur penalties or increases in the installment in the event of insolvency.

40% net salary

The net 40% of the salary is granted only in the event of a request for consolidation of debts to obtain the assignment of the fifth or the loan of payment.

Debt consolidation with salary or pension assignment is granted up to the age of 85 (term of duration of salary assignment) and is only possible for workers on permanent contracts or on fixed-term contracts but with a duration not exceeding to that of the stipulated loan. The maximum amount of the monthly payment must be highly sustainable for family and personal expenses and for this reason, by law, it cannot be higher:

  • at 20% of net salary;
  • at 40% of net salary.
CONSOLIDATION DEBTS WITH THE ASSIGNMENT OF THE FIFTH WHO CAN REQUEST IT LIMITS
  • EMPLOYEE LOANS;
  • OTHER FINANCING IN PROGRESS.
  • SUBJECTS WITH INDETERMINATE-TIME CONTRACT;
  • SUBJECTS WITH TRANSFER OF THE FIFTH AND ANOTHER FINANCING IN PROGRESS.
  • UP TO 20% OF SALARY;
  • UP TO 40% OF SALARY.

Debt consolidation with salary assignment: REQUIREMENTS

Debt consolidation with salary-backed loans is the ideal solution for employees who have completed at least 6 years of service and therefore have a good sum of Severance Indemnity which constitutes a solid guarantee in the event of insolvency. The seniority of the worker with a permanent contract is the prime factor in obtaining a debt consolidation with a sum that can reach up to $ 40,000, deferred in low installments and with a longer sustainable repayment schedule..

Debt consolidation with salary-backed loans does not require any particular guarantees or requisites for obtaining it, but it is necessary to present the documentation certifying the working status and the contracts for all the loans in progress that are wished to be settled. In this way, when the contract is stipulated, it is possible to establish the interest rate that best suits your needs and is lower than that of the loans in progress. Furthermore, the amount of the installment must also be assessed based on the client’s expectations and economic needs.

This means that if at the time of applying for debt consolidation the applicant has a salary installment of 240 USD, a motorcycle loan for 80 USD per month and a personal loan for 150 USD per month for a total of 470 USD and fail to support the payment, the new installment of the new debt consolidation loan must be less than 470 USD and to be also the amortization plan must be greater than the maximum 10 years of the salary transfer.

CONSOLIDATION DEBTS WITH THE ASSIGNMENT OF THE FIFTH AMOUNT RATE ASSIGNMENT OF THE FIFTH + FINANCING DEBT CONSOLIDATION RATE
  • 1,200 USD MONTHLY
  • ASSIGNMENT OF THE FIFTH = 240 MONTHLY USD;
  • PERSONAL LOAN = 80 USD;
  • PERSONAL LOAN = 150 USD.
470 USD
  • SUPERIOR DEPRECIATION PLAN;
  • MONTHLY INSTALLMENT LOWER THAN 470 USD.

Debt consolidation with salary assignment: EXAMPLES AND SIMULATIONS

Debt consolidation is granted to workers with an open-ended contract who have at least two loans in progress and, in our case, the subject of the salary assignment and another personal loan of any type. The objective of this type of financing is to reorganize the family or personal economic balance and can also be requested by those who have been protested or reported as bad payers: the guarantee is the automatic deduction of the monthly payment.

To better understand, below we offer some examples of more ongoing loans and salary-backed loans with an example of monthly installments and the resolution of a single installment with debt consolidation:

CONSOLIDATION DEBTS WITH THE ASSIGNMENT OF THE FIFTH FINANCING IN PROGRESS FOR 10 YEARS REMAINING CREDIT DEBT CONSOLIDATION
  • 1,200 USD REMUNERATION
  • 240 USD WITH ASSIGNMENT OF THE FIFTH;
  • 100 USD LOAN CAR;
  • 250 HOLIDAY LOAN.
48,000 USD
  • 300 USD = NEW INSTALLATION;
  • LOWER INSTALLATION OF 290 USD.
  • ASSIGNMENT OF THE FIFTH EQUAL TO 20% OF THE REMUNERATION TO THE NET.
  • TOTAL AMOUNT RATE = 590 USD
80 MONTHLY installments REFUND PLAN = 160 MONTHLY RATES

Debt consolidation with salary assignment: PERSONAL EXPENSES AND FINANCING

Debt consolidation with salary assignment: PERSONAL EXPENSES AND FINANCING

Here below some simulations on the different financing conditions, salary and economic possibilities in order to get an idea about the importance of the installment amount that must adapt exactly to your needs for family and personal expenses. This means that even if a person requesting debt consolidation with the salary assignment has a high salary but also expenses (for example the lease of a child at the university), the monthly installment of the new loan must have an amount anyway higher to allow a good monthly resolution also of the other expenses to sustain:

CONSOLIDATION DEBTS WITH THE ASSIGNMENT OF THE FIFTH FINANCING IN PROGRESS FOR 10 YEARS REMAINING CREDIT DEBT CONSOLIDATION
  • 1,500 USD PAYMENT;
  • 250 USD of other family and personal expenses.
  • 360 USD WITH ASSIGNMENT OF THE FIFTH;
  • 100 USD LOAN CAR;
  • 250 other expenses.
19,000 USD
  • 400 USD = NEW INSTALLATION;
  • LOWER RATE OF 710 USD (SUM THAT INCLUDES FINANCING AND PERSONAL EXPENSES)
  • ASSIGNMENT OF THE FIFTH EQUAL TO 20% OF THE REMUNERATION TO THE NET.
  • TOTAL AMOUNT RATE = 460 USD;
  • FAMILY EXPENSES ARE ADDED TO A CUMULATION OF 710 USD
36 MONTHS REFUND PLAN = 48 MONTHLY RATES

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