The proxy loans, what they are and who can request them?

Do you need a huge sum but do you already have funding behind? Do not worry, the proxy loans come to your rescue, which is a strengthening of financial loans.

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Attention, however, they are exclusively linked to employees with a permanent contract for at least 6 months. However, institutions or companies affiliated with this type of financial institution can request it. Thus excluding pensioners and self-employed workers.


How the payment proxy works

The payment proxy is similar to the transfer of the fifth: even its installments are in fact repaid by means of a pay check . The installments can not exceed 20% of the employee’s net income and this delegation corresponds to the second installment debited in the salary statement.

Unlike the transfer of the fifth, however, this deduction can be granted only and exclusively if the company is favorable , as it is not a worker’s right but a concession granted by the company for his employee.


How to do in case of double retention in the envelope

If you already have two deductions in the envelope (transfer of the fifth and delegate payment), you have the possibility to renew the loans in progress for both loans. What does this practice consist of? Simple, it means closing a loan and opening another loan, thus obtaining additional liquidity, choosing to lower or raise the installment. However, renegotiation of the loan is only possible if you have already paid 40% of the installments. In case of renewal, the amortization plan can be extended up to 120 months.

In fact, given the important sums requested, the repayment of these loans involves very long delivery times, it is also called 10 years . In these cases, the guarantees governing these loans are not very flexible, this to guarantee the credit institution the full coverage of the amount paid.


What are the rates and useful documents?

The repayment of the installments is not subject to rate changes , as the installment is constant . You do not even need to specify the reasons for the request, and it is possible   activate insurance policies in the event of job loss or death.

But which documents are used to present the request? Obviously paychecks , the employee’s cud and the salary certificate , requested from the company once the feasibility of the application has been confirmed. Then only the applicant’s signature is needed without the presence of a guarantor. Simple, no?