BETTER THE PERSONAL LOAN OR THE SALE OF THE FIFTH?

 

  • Need urgent liquidity for your sudden need?
  • Are you looking for the best solution that can guarantee you quick times in obtaining it?
  • Better to request a fifth transfer or a personal loan?

Before embarking on a request, stop and think carefully about what financing is best suited to your needs and that can guarantee you the right economic conditions, with a sustainable installment and the amount you actually need, without having to meet too many deadlines long- Green-Touch webpage.

How long does it take to get a personal loan?

It is often mistakenly convinced that applying for a personal loan is the most immediate solution to one’s liquidity needs with respect to the transfer of the fifth ; It is true that after having received the necessary documentation, most of the financial take about 48 hours to communicate the outcome (positive or negative to the client), followed by the signing of the contract and the crediting of the requested amount.

On balance and at best, the customer obtains the money requested on loan in about 7/10 days, but when there are problems during the investigation phase (request for a guarantor, in-depth checks, etc.) this timing inevitably lengthens.

For example, those who already have other loans in progress, for example, may find it more difficult to have a positive response to their loan request in a short time, because the bank needs more guarantees, precisely because of its economic exposure.

Assignment of the fifth: request process and advantages

The sale of the fifth is a type of loan often not taken into due consideration because we are led to believe that the process to be followed is much longer than the Personal Loan and complicated before being able to have the liquidity that is needed. It’s not absolutely true!

Before “demolishing” this mistaken belief, we briefly explain what it is, to whom it is addressed and what are the actual benefits.

The transfer of the fifth is a form of credit dedicated to employees (public, state, private) and to pensioners Inps and former Inpdap; has a maximum duration of 120 months, allows for the payment of high amounts and the monthly payment, which can not exceed one fifth of the net monthly salary, is held directly in the paycheck/pension, to be then paid to the creditor body directly by the employer work.

It is a form of financing that can be requested even in the presence of outstanding loans or other loans in progress, reports in the database and protests.

With this premise, let us pause briefly to understand how to request and obtain a transfer of the fifth.

Assignment of the fifth: necessary documents, investigation, resolution, notification and crediting of the sums requested

To access the assignment of the fifth, it is necessary to provide:

  • The personal documents (identity card and health card)
  • Income documents (paycheck / pension slip)
  • Salary certificate or Ministerial Annex (Requested directly to the Agency by a delegation of the client and indicating the maximum installment that can be used for financing)

Once the documentation has been delivered to the Company / Financial Agency to which it is addressed, the desired financial plan is formulated and agreed, followed by the request for a resolution of the request, and subsequent signature of the loan contract.

At this point, who needs urgent liquidity, can request an advance on the amount previously defined and receive it in a few days, by crediting on their current account or by cashier’s check.

The last step that the Agency in financial activity will have to make, is to notify the contract of assignment of the fifth to its Administration of belonging to which the approval act is attached. At this point, the employer will countersign and return to the Funding Institute.

Upon receipt of this document, the loan is disbursed (or the balance if an advance has already been granted).

This procedure, compared to the personal loan, actually leads to believe that the times are much longer, but in reality, it is a wrong concept if you rely on an organized agency with a fast and efficient back office in carrying out the processing processes of the practice of Cession of the Fifth.

An office dedicated to the well-structured and expert investigation processes the requests more rapidly reducing the delivery times to provide a highly efficient service, especially in cases of extreme urgency.

Assignment of the fifth: how to obtain it quickly

Now the advent of the Internet and certified e-mail together with the centralized conventions with the public administrations and pension institutions (INPS), have brought a real revolution in the management of a practice of assignment of the fifth. This recent evolution, allows today, an immediate and precise exchange of documentation between the applicant and the chosen financial intermediary, so as to simplify and reduce the delivery times of the sums requested.

Just think of certified mail, an online transmission system that has the same legal value as a registered A / R, used today to transmit the contract of sale to the administration of belonging (employer), practically in real time to receive it in close proximity, signed with the same means.

But besides the aspect linked to the “technological evolution” on which the speed of the management of the assignment of the fifth is based , it is fundamental to rely on an organized and structured Agency in Financial Activity that communicates directly with the Financing Institute through procedures slender, fast and autonomous, without having to manage too many intermediate steps and get the resolution and the provision of the sums requested in a short time :

  • Approval in 24 hours
  • Delivery in 10/15 days (except in cases where the timing due to the release of the approval by the applicant’s administrations dilates the timing).

The applicant has only to present to the Financial Agency the personal and income documents, to await the resolution of his loan with a very short timescale, benefiting from attention, assistance, and availability throughout its duration.