In case of resignation how is my private payroll loan?
Payroll is usually the option of those working with a work card governed by CLT and needs a loan. It is directly linked to the salary. Therefore, it is common to doubt what happens in cases of dismissal.
Regardless of a dismissal or being dismissed, installments of a payroll loan continue to be charged. But in such cases, conditions may change, such as the interest rates charged.
In the event of dismissal or being dismissed, whether for cause or not, the company may use up to 30% of the termination amount to pay the payroll. But that must be in the contract. If this percentage is not sufficient to cover the entire loan amount, it will continue to be charged. From then on, the differences vary by bank and interest rates may increase. The rise in interest rates happens because payroll is no longer a guarantee that the money will be paid to the bank. Still, it is possible to negotiate with the financial institution to try to maintain the interest rate.
Remember: Most contracts have a clause that allows the company to discount up to 30% of the termination amount to repay the loan. For example: If you have $ 20,000 to receive for termination, you may be discounted up to $ 6,000 by the company. When this clause exists, there is nothing to do. The company has an obligation to discount the value, because otherwise the debt becomes hers. Therefore it is important to always read the signed contract. If the contract was lost, contact the financial institution that made the loan.
What to do in case of company change?
If you move to another company, you need to check with the Human Resources team to see if there is a link between the new company and the bank. If so, the debt is transferred and the loan installments continue to normally go out of salary in the new company.
In cases where the new company has an agreement with another bank, it is recommended to compare what is most worthwhile: repay the loan with the old bank or bear the interest rates increase of the new financial institution.
What if the company went bankrupt?
In extreme and more unusual cases, when a company goes bankrupt, the payroll is still charged. In bankruptcy cases, the company must, by law, make some payments to the employee, such as notice and vacation. In this scenario, the amount of the payroll loan still has its share taken from the salary.
What to do when there is no new job forecast?
There is no way to make portability in cases of who was fired or resigned and has no provision for new employment. In such cases, all that remains is to organize to repay the debt or renegotiate a new form of payment, probably with higher interest rates. This is why a lot of planning is important to settle or renegotiate the debt directly with the bank.