At the Distributed Loan, also known as the double Assignment of the Fourthe or simply ” double Fourthe “, we have dedicated numerous articles to the blog, as well as a complete and detailed page that contains the salient information to know. Today we want to take another step forward and examine a complementary opportunity, namely the renewal of the Distributed Loan. As the name suggests, this is an operation thanks to which it is possible to renew, in fact, a Loan with Distributed already in progress. In other words, it is not a question of prolonging the old loan, but of converting it into a new loan with the same mechanism of Distributed. It goes without saying that there are severalconditions to be met in order for the request to be successful. Let’s see which ones!
How to renew a proxy loan
Given that the Distributed Loan is granted only to employees, the renewal of the loan before expiry can be requested as long as certain conditions are verified.
The first condition to be met is to have repaid at least 40% of the previous loan. If, for example, the original Distributed loan had a duration of 120 months, it will be necessary to have paid a minimum of 48 months. It is true that for loans of less than 5 years (60 months) it is possible to renew even earlier, provided that certain conditions are verified and met.
The second condition is that the employer consents to the granting of what, in fact, will prove to be a payroll deduction. There are also other minor evaluation conditions, in the sense that the last word is always up to the creditor (and the insurances involved), called to examine the person’s reliability (foreclosures in progress, regular payments, etc.), the company solidity, the type of contract and so on.
The main advantages for those who want to renew the Double Fourthe
The renewal of the Dalpo Quicken is a choice that appeals to the end user for a number of reasons sometimes discounted, sometimes not. The applicant can quickly access new liquidity, without providing any justification, without committing any private asset, without sometimes even leaving the house (the online file is managed), and with the security of being able to pay each installment upstream, before still to collect the salary.