Do I have to repay the loan if I get fired?
Of course, whats the doubt. The payroll loan is one of the cheapest credit facilities in Brazil, but only a few classes of citizens can apply for it, retirees, pensioners, civil servants and military can borrow money on special terms. In addition to being able to make new loans, it also has access to refinancing or the sale of debt from loans with very low rates.
And formal employees of private companies, can do the payroll? Yes, provided that the company that works has an agreement with a bank, financial institution or credit institution that grants the consignment operation on the salary.
It’s all right! I was able to make the paycheck-deductible loan, but I got fired from the company, and I got a debit balance with lots of installments, what happens?
The paycheck loan is famous for its facilities, it is not questionable that the mode is an excellent option for anyone who wants to borrow money to settle personal issues or take advantage of the loan to eliminate expensive debts.
In the consigned the parcels are reimbursed directly in the salary of the contractor, it is discounted by the employer and directed to the creditor bank, the one that lent the money. For the bank is great since it has the guarantee that the loan will be repaid. This is why the interest rates applied are low.
Returning to resignation, in case the private worker is dismissed or decides to leave the employment, it is obvious that the balance due will have to be paid. At the time of termination, the employer deducts up to 30% of the amount owed. This discount is used to settle the payroll debt. This discount can only happen if foreseen in the contract signed with the lender.
One more detail, if the discount made by the employer of 30% of the termination does not fully pay off the debt, you will have to negotiate with the institution as you will repay the remainder of the balance.
I want to change my job, what is my payroll? If you decided to quit your job to work in another, you will certainly suffer the 30% discount you have already mentioned on your termination. It is worth mentioning that in this case the debt can be transferred to the next company, as long as it has an agreement with the same bank that made the loan. Another way is to change the salary account to the lender bank.