The labor revolution works poorly and as a result the credit institutions have had to adapt to study precarious loans, suitable for new workers, new hires, all those workers who have a precarious contract. However, the best formula remains the salary loan. Even for precarious workers!
How does the salary loan for new hires work?
The salary loan is also a very suitable type of loan because it allows applicants to obtain an important amount in a short time, and lenders can directly claim on workers’ TFR in case of sudden loss of employment no longer allows him to honor the remaining installments.
What guarantees does a new employee have to honor a loan?
But what if a new employee who, for obvious reasons, has accumulated little TFR and cannot therefore provide the necessary guarantee? Does this circumstance preclude the outset the possibility of making use of the salary loan?
Certainly it is more difficult for a newly hired worker to get a loan by assigning a fifth of the salary, but not impossible. Today also the salary loan is a possible financing for precarious loans. In this case, the worker is called upon to respect decidedly stricter requirements and to present other guarantees. Among the restrictions we find the amount obtainable, which generally cannot exceed 15 thousand dollars, and the duration of the repayment of the capital, limited to 5 years.
Salary loan in the trial period
The chances of earning precarious loans increase if the new employee has passed the trial period (3 or 6 months depending on the contract) and if he works for a public body or large company, where the risk of losing his job is certainly lower. Needless to say, a permanent job position is almost essential to be accepted.
The salary loan in the absence of the TFR
Ad hoc insurance is required as a guarantee to cover the possible loss of employment, but the claim for further deposits (for example an additional pension fund) is by no means excluded. The installment of the loan new employee remains fixed for the duration of the loan, as well as the interest rates applied.