Insolvency Benefit: Amount, Duration & More

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The insolvency of the employer can have drastic consequences for the employees. The acute insolvency may not only cause a downtime for suppliers or other creditors of the company, also wage and salary payments of their own workforce may be at risk.

To compensate for the loss of salary, the Employment Agency pays a one-time replacement , which is covered by a bankruptcy pre-financing. The insolvency allowance usually pays all German employers.

In principle, only employees are entitled to insolvency benefits if insolvency proceedings have been initiated on the employer’s assets.

How to file for bankruptcy?

Employees can file an application for insolvency money with the Employment Agency, which can also be done electronically . However, the insolvency money must be applied for at the employment office within two months after the opening of the bankruptcy proceedings . In addition, various supporting documents must be enclosed:

  • Insolvency certificate of the employer or the insolvency administrator
  • Copy of the employment contract
  • Salary statements (last three)
  • File number of the insolvency proceedings
  • possibly termination notice

What is the bankruptcy fee?

Insolvency benefit is paid retroactively in the amount of the salary which is outstanding for the last three months of the employment relationship before the insolvency proceedings are opened. Normally, the net salary is decisive, under certain circumstances, overtime pay, commissions or the like may also apply. be taken into account.

However, there are upper limits for insolvency money, which may vary depending on the state. Therefore, higher earners may only receive insolvency allowance up to a certain threshold. How much the payment actually turns out can be calculated by the Employment Agency.

Bankruptcy money is tax-free! Therefore, it makes sense to specify the bankruptcy money in the tax return. The Employment Agency issues corresponding certificates of tax exemption .

Bankruptcy money as advance

Normally, an advance of insolvency money is not possible. Only if

  • the insolvency proceedings have been requested ,
  • the employment relationship has ended and
  • for the receipt of insolvency money the conditions are likely to be fulfilled ,

the employment agency can make an advance. Normally, not all bankruptcy money is granted, but only 50 to 80 percent of the probable claim.

Are social security contributions paid?

During the insolvency period, the employer will normally continue to pay the social security contributions . However, it may happen that the contributions are affected by the bankruptcy.

In this case, the employment agency will pay the social security contributions. However, it is necessary that the health insurance company makes a corresponding application to the Office. Even then, the contributions are paid in addition to the bankruptcy money for the duration of the last three months before the bankruptcy.

Unemployment benefit during insolvency

Both Unemployment Benefit I and Unemployment Benefit II can be paid in parallel to the insolvency allowance, for example because the employer has terminated the employment relationship as a result of the bankruptcy.

In this case, the one-time payment of the bankruptcy fee will be credited towards the other benefits.

What types of loans are there?

When we look for personal loans we find not only a great variety of offers, but also different types of credits that we can request. Each type of loan is designed for a particular purpose and profile. What is an Online Direct Lender Payday Loan? We Explain.

5 types of personal loans

Below we detail the characteristics of each type of personal loan according to the amount they grant, their speed, which entity grants them, etc., so we can know what type of financing we need according to our profile:

1. “Traditional” personal loans

They are the credits that grant high amounts of financing. They are often used to finance projects such as buying a car, studying or renovating our house. Prices vary greatly depending on the lender, ranging from € 500 to € 100,000 and the repayment terms usually last for years. An example would be the ING Orange Loan, to get up to € 40,000 in financing at 7.18% APR, with no commissions and no need to pay the payroll. Your process is 100% online and in minutes we will get a response with a preapproval.

2. Mini credits

They are granted in just minutes and we can get up to € 800 instantly. They are used for specific liquidity shortages when unforeseen events arise (fines, overdrafts, breakdowns …). They are contracted through the internet with a web form and with hardly any paperwork. Depending on our profile we will have several offers, such as loans that admit people registered in files of defaulters or people without payroll. One of the most attractive offers at the moment is the Vivus mini-loan, which offers up to € 300 free to its new customers, without commissions or fees.

3. Quick credits

These products are very similar to the mini credits in terms of their concession, however, they offer us a financing of up to € 15,000. Like mini loans, they are contracted online through a form and without paperwork and are granted by private equity companies. They are used as personal loans granted by banks, but with a shorter grant time. One of the fastest loans is Zaimo with which we can get up to € 5,000 in 12 minutes, their interests vary between 5% and 12%.

4. Payroll Advances

We can request them from banks and allow us to get up to 3 times our salary. They are of quick concession, but to be able to accede to them we must have a bank account that has the option of the advance of payroll and a minimum of antiquity in the organization. One of the advance offers of the moment is the Payroll Advance Bankinter, with which we can access if we have a Bankinter payroll account and where we will be granted up to € 6,000 at 0% APR to return in 20 days.

5. Consumer loans

These are loans granted by department stores whose purpose is to encourage purchases, which is why they usually do not have commissions or are very low. They are used to buy items within the same establishment. We can buy from an appliance to a computer, through spare parts for the car. A large department store offering this type of financing is Carrefour with its Carrefour Pass Visa credit card, with which we can finance purchases of up to € 2,000 at 0% APR for 3 months.

Teachers and university students call a strike for March 24 for the 3-year degrees

  • Unions of teachers and students have announced the call for a general strike in the universities against the Royal Decree of the Government.
  • The new law allows for three-year degrees that should be completed with two-year master’s degrees, which are significantly more expensive than the degrees.
  • This strike is the second, after the one organized by the Student Union, against the new organization of official university teaching degrees.
Huelga de estudiantes

Unions of teachers and students have announced on Wednesday the call for a general strike in universities for next March 24 against what they call “decree 3 + 2”, which allows there to be three-year degrees that will be completed with two-year master’s degrees , significantly more expensive than the degrees.

The reforms are aimed at privatizing the university system

In a joint press conference, the teachers unions CSI-F, CC OO and UGT, as well as the Student Union (SE), Students in Movement and the Federation of Progressive Student Associations (Faest), have rejected the decree that It makes the duration of the degrees more flexible and they have considered it a ” disguised reform ” of the university. In addition, they have indicated that the new degrees are detrimental to the “equality of opportunities” and the model of the “public university”.

This strike is the second similar call that takes place against the royal decree on the organization of official university education degrees, approved by the Government on 30 January. The first was the double day of protest organized by the Student Union: the first was held on 25 and 26 February and the second will take place on 17 and 18 March.

The secretary general of Teaching of CC OO, Francisco García, has affirmed that these reforms are directed to “privatize” the university system, which will cause job losses , as well as economic for public universities to turn it into “more classist”. Garcia has asked for these measures to be paralyzed because education can not be changed “behind the backs of everyone” and against the social majority.

148,000 workers are called

As it has affirmed, to the strike of next March 24, besides the students, they are summoned 148,000 workers of the public universities pertaining as much to the administrative scope as to the one of the teaching and the investigation.

With the decree can be lost 20% of jobs in public universities In the same terms has been expressed the secretary general of the Federation of Teaching FETE-UGT , Carlos Lopez, who has stressed that the “decree 3 + 2” is You can lose 20% of public university jobs and, in addition, university degrees will be more expensive. Also, with this system, Lopez continued, the funding of the universities will fall on the families and not on the budgets of the administrations. He has also criticized the other two decrees because they will reform the university system without having been previously evaluated.

From CSI-F , the president of the sector of Universities, Francisco Olivares, has indicated that the organizers of the strike are 100 percent of the university community and that the union joins it because the Government has not given opportunities to continue dialoguing.

He insisted that the “decree 3 + 2” has a contrary report from the State Council and has proposed to the Minister of Education, José Ignacio Wert, to equal the price of the credits of degree and master. “Do not impede for an economic issue to make a career to which one has right”, has affirmed Olivares.

“University for the rich”

"University for the rich"

The general secretary of the Student Union, Ana García, has invited “all education completely”, from children to university, to support the strike and all citizens to attend on March 24 to the demonstration that will take place in Madrid at 6.30 pm and that will depart from the Plaza de Cánovas del Castillo and conclude in front of the Ministry of Education.

We do not accept a university that is only for the rich “We do not accept a university that is only for the rich,” said Garcia, who added that they reject the education system to “return to the Francoist model.” For the president of Faest, Alejandro Delgado, the decree that allows there to be three-year degrees with two-year master’s degrees is part of the “PP steamroller” that imposes a system “without any consensus” .

In his opinion, the degrees must guarantee inclusion in the labor market and this reform “is against” that principle. This strike is the second – last week the SE convened 48 hours of student strike – which takes place against the royal decree on the organization of degrees of official university education , approved by the Government on 30 January.

Cash advances up to € 500

Quick loans from Contante are short-term cash advances to cover unforeseen expenses or make extraordinary purchases. They allow up to 1000 euros to 30 days and it is not necessary to have a payroll, you can apply with another source of income, and the possibility of getting cash with Hal-Cash.

Benefits

No Payroll:
Yes
With Asnef:
Do not
Cash:
Yes
Limits

Minimum term:
1 day
Deadline:
30 days
Minimum loan:
€ 50
Maximum loan:
€ 1,000

Additional information of Contante

 Contante is a fast cash advance firm, also called minicréditos, which belongs to the company Click Finance SL based in Pamplona. It offers fast loans of up to 1000 euros with very low requirements, in fact they are among the lowest in the market. You can get the money even without a payroll, yes, if we justify an alternative source of income.

With these advances of short-term money it is possible to obtain financing in a few minutes to solve unforeseen events , such as a traffic ticket, a breakdown at home or a repair of the car or extraordinary expenses such as books and school supplies or Christmas gifts. They can also be useful to make ends meet if you have had many unusual expenses.

With the automated system that Contante uses to evaluate the requests, you can get an answer in a few minutes . In addition, the entity has a series of agreements with most national banks so that transfers made at any time may be available in your bank account in a maximum of 2 hours. You also have the possibility of receiving cash from any Hal-Cash ATM.

How to request cash advances from Contante?

Image result for how toThe first step to request in urgent money with this company is to access through the Internet to the Contante website and select the amount for which you want to request the advance and the return period.

Automatically the screen shows you the amount of the credit, the fees or interest that you will have to pay for the loan of Contante and the date of return. What you see on the screen are the conditions, if you accept them and you want to make the request in Signature you must click on the “request” button to continue with the second step.

The second step is to fill in the form on the Contante website with your personal and contact information, you must also choose a password to access the private area and get your loans in real time. Also in this step you must provide some information about your situation and bank details with the account where you want to receive the money. Keep in mind that the more information you can contribute, the quicker the answer will be and the more likely you will be that it will be affirmative.

Once your order has been evaluated, you will receive an email with the answer. In addition, if the answer is positive you will also receive an SMS on your mobile, to which you will have to answer with the word OK to confirm the loan and that the transfer can be made. Once the advance payment is accepted, the money is transferred instantly to your account.

How to return the advance money

Repaying the loan in Contante is very convenient since they are responsible for collecting the money through your debit card on the due date. It is a mode that uses almost no mini-credit entity and avoids problems since the client is not paying. If there is any problem to make the return through your card you can pay with a transfer.

Early return

If you can return the money early Contante rewards you with a proportional reduction in the interest rate of your advance. To make the early return you must enter the client’s private area of ​​Contante and select the option “pay now”

Quick loans without payroll and in cash

Fast cash advances from Contante are short-term urgent loans that have very low requirements . To opt for them you must be of legal age, have a mobile and an email address. It will be necessary to have a recurring income, but it does not need to be a payroll, it can be the pension or any unemployment benefit or subsidy.

You must have your source of income domiciled in the current account that contributes to your application data and have a debit card associated with that account. It will also be reviewed if you figure on the Asnef default list, but it is possible that if you can prove your solvency you can also receive a positive response to your advance.

Advantages of the Minicréditos de Contante

One of the facilities that very few minipréstamos entities offer is to be able to get the cash immediately using the Hal-Cash ATM network, which includes several national banking entities, of which it is not necessary to be a client to be able to withdraw the money from your ATMs.

Contante does not ask for any endorsement and it is simple without paperwork. So you can know a little about the credits of Contante we show you this video:

Extension Counter

If you see the expiration of the mini-credit you have requested and you think you will not be able to pay on time, do not worry, you can extend your loan up to 30 more days. Anyway, reflect well if this is the option that interests you the most, because if the payment date has not been paid, a commission of up to 20 additional euros will be charged for the non-payment of the quick credit. And a daily interest of 1% will be added for each day of delay, which can lead to a serious solvency problem on your part.

As always, we remember that the use of this type of product to obtain fast money should be limited to special situations in which we need money and we have no other alternative to achieve it. These are very useful loans for sporadic cases of need, but their usual use is not recommended to avoid getting too much debt and paying a high cost.

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Latest user responses

Woman, I just saw your text and it broke my heart. Just tell you not to worry, that time puts everyone in their place and that sure that your husband all this will turn against you. That a liar is caught before a lame man. And you may lose your home, but while there is life there is hope and you will surely be able to start from scratch and recover. This is a bad patch for many people, but you have to be strong. Do not sink A hug.

 

This mortgage seems very good to me.

This mortgage seems very good to me.

With the interest rates so high that banks offer, 2.20% is reasonable. The only downside is life insurance with a unique premium but you do not have to hire it for what I know, you will pay a slightly higher differential. I hope I’ve helped.

Well, I’m a Banca March customer. I had money invested in March New Emerging World FI and I lost a lot of money. Banca March had a reputation as a super bank for your savings but the manager of this fund is worthless. It seems to me that funds in emerging markets are the ones that go higher … but also the ones that go down the most. Greetings.

Frankly, I do not know the law but if I were that outgoing guarantor I would be invited to sign yes or yes and ask the notary to sign a document to make sure that I am no longer a guarantor of this mortgage. The word is not enough, the risk is too high. Luck.

As far as I know, the PIAS are not very profitable and they are only useful to force you in some way to save with periodic contributions. But if you know how to manage your finances, it is more important to invest in funds, deposits or even savings accounts, more flexible and more profitable. I just looked at the BBVA for accuracy and it gives you a 2.10% APR for the first 6 months and then it goes down (it does not specify how much). I do not think it’s worth too much … it’s my opinion. regards

But how much have you put it up for sale? Because if you have put it at € 160,000 and you do not arrive, talk to them, it’s not worth waiting, because they will hardly buy it from you, also bearing in mind that you will continue to lower the price of the house. What I find strange is that they have given more than 50% of the appraised value of the house: banks do not usually give more than half. In any case, it makes clear to the bank that what they say (sell) is not a solution. And if not, can not you reject the inheritance? Anyway, good luck

I have a Citibank deposit and I sleep very quietly.

I have a Citibank deposit and I sleep very quietly.

I do not know where the information has come from the Sergio he quotes but with the worldwide reputation that Citibank has (more than 200 years of history) I doubt that he would drop his subsidiary in Spain. Also, if something happens, you have the guarantee of the Spanish guarantee fund. So I would not worry too much, especially being a 6 month deposit (very short term). Regards!

Gabrielro, maybe you could ask your vendor to contact the previous owner so he can ask for that certificate, which is free anyway and costs nothing. I see it as the simplest way. Luck!

Jumper, it’s not bad, but personally I would not hire it. An APR of 3.56% does not seem very high for a fund of 2 years and 4 months. I prefer a deposit because it is much easier to cancel if you need it, without risk of losing capital (these funds usually have also quite strong early cancellation fees, check the contract …). Depending on the money you have, you can invest in deposits that are more profitable and for me much safer. A greeting.

You are right about the guarantee of the Constitution, but since the rescue of banking there is a difference: banks have a line of credit, but the State does not. If a bank is on the verge of bankruptcy, it can be recapitalized directly, but if Spain could not pay its debts it would have to renegotiate with Europe and that generates uncertainty. Therefore, at this time, perhaps the most solvent banks are the safest option today. Regards!