One branch of the non-finalized financing sector is the so-called salary or pension backed loan. Holders of a public or private employment contract and pensioners can indeed access credit without presenting further guarantees, even in the case of protesters and bad payers. The reimbursement takes place automatically through the direct withholding of the monthly installment up to 20 percent of the income, one fifth of the salary or pension. Therefore, the payment agreement is entered into directly by the lending institution with the employer or with the pension institution that pays the income emergency loans.
However, there are limits for access to loans with assignment of the fifth , in particular it is necessary to have a minimum income, net of the deduction, which is higher than the survival threshold established by the State and set at just over 500 euros Where can i get a loan with bad credit?
Loan with proxy
Also defined as double fifth, the loan with proxy is also a personal loan not aimed at a fixed rate and constant installment such as the assignment of the fifth, only that the amount of the monthly installment can rise up to half of the salary or social security check perceived. Furthermore, unlike the assignment of the fifth, the employer may not accept a loan request with proxy. State employees and the majority of public employees, and private employees holding a permanent contract, can access this form of credit, subject to verification by the administration of the company for which the subjects work, which must agree to withhold the double installment.