Browse Month: February 2020

Loan without Credit Bureau with a limited contract

 

Taking out a loan with a fixed-term contract is not easy. If it then becomes more difficult that Credit Bureau has also recorded a negative entry, the search for a suitable loan becomes even more difficult. Which paths lead to a loan without Credit Bureau and with a limited contract is to be clarified here.

Nothing is impossible

Nothing is impossible

An open-ended employment contract is no longer uncommon these days. Many employers keep the option open to be able to plan their staff flexibly and without great pressure to dismiss. Because while there are certain deadlines that have to be observed in the case of a regular termination and often severance payments also flow, termination can take place overnight with a fixed-term contract.

Very annoying for the banks, because they have no security that the loan can be paid over the entire term. If you have a negative Credit Bureau entry as a borrower, most banks turn completely away. This can only be remedied by a second borrower who has a permanent employment contract, earns a lot of money and also does not carry around negative Credit Bureau entries.

Because even a Swiss loan that is so popular and that is known to get by without a Credit Bureau requires a permanent employment relationship. So if you want a loan without Credit Bureau with a fixed-term contract, you have to bite the bullet and look for a co-applicant.

The guarantor

The guarantor

Another option would be a very solvent guarantor. However, the bank will only accept this if there is no co-applicant and if the loan amount is not too high. The guarantor can also be sued if the debt is not paid. However, this is somewhat more complex than with a co-applicant who can be asked to pay directly for a loan without Credit Bureau with a limited contract.

It is not worth starting any experiments on such a prerequisite and hoping for a loan from dubious middlemen. Since you only have a chance of financial support if you get help, you can also apply directly to the house bank. Here, the interest is cheap and you don’t have to pay any fees for mediation or the like.

Take out a loan with two children

 

For many, the question is not whether they will get a loan or not, because their creditworthiness speaks for it. But not everyone can apply for a loan without problems, this also applies to families with children. Those who want to take out a loan with two children do not consider everything when applying for a loan. There are a few things to consider here!

What is often underestimated?

What is often underestimated?

Applicants for a loan with 2 children believe that they always have enough income. However, they do not consider that child benefit and childcare allowance are not included in the salary. These payments cannot be attached and are therefore excluded. So often there is only a salary if one parent stays with the children at home. Since children always cost a lot of money, in many cases this can be too small to apply for a loan with two children. Credit costs should not be underestimated, they can often burden the household budget. School trips, clothing, food and little things cost a lot of money for children.

How can a loan application be successful?

How can a loan application be successful?

If you want to take out a loan with two children, you should first draw up a budget. Insurance costs, the money to live and other expenses are entered here. Then the income, without child benefit or other social benefits, is counted against it. If there is no money left, the way to the bank will be unsuccessful. There is simply no money for the loan installments. However, if a sum remains, it can be used for the repayment. It should not be underestimated, because if household appliances such as a washing machine break down or the car has to be repaired, then it must also be affordable.

Requirements that must be met

Requirements that must be met

Ideally, both parents work so that there is a lot of income to secure the loan. No loans that still have to be paid off may be entered in the Credit Bureau because this reduces the creditworthiness and often leads to rejection. An employment contract must be submitted. This must be permanent employment. People who work on a trial basis will not receive credit. A loan application can then be made with the documents. Only the bank can decide whether it will be accepted or rejected. If the application is approved, the loan amount is then transferred to the checking account and can be used by the borrower.

Loans are offered everywhere

It is often claimed that it is possible to take out a loan without any problems. Some customers have difficulties as soon as their Credit Bureau is queried. Credit Bureau helps the bank to sort out solvent and non-solvent customers.

Borrowing with negative Credit Bureau possible

Borrowing with negative Credit Bureau possible

It is possible, even if the banks do not like it, to take out a loan if you have a negative Credit Bureau. The picture changes quickly when the customer enters the bank and announces that he wants to take out a loan with a guarantor despite a negative Credit Bureau. Then the banks are happy to start talking. In this case, the word guarantor is highly regarded. A guarantor has different functions and serves as security.

What is a surety

What is a surety

A guarantor is mentioned repeatedly in the credit world, and only a few know what a guarantor is. A surety is used primarily when the customer does not have a good credit rating. This is not provided by the bank. the applicant must find a person who can act as a guarantor. If the loan is not covered, this is used to continue repaying the loan. A guarantor is primarily used when the actual borrower can no longer pay off the loan.

Then the guarantor has to step in for him. This means that he is liable for the borrower with his private assets. This is of course a risk that has been taken. Nobody wants to take over someone else’s debts. Therefore, guarantors often come from their own family, the father, an aunt or the brother. These people trust the borrower to look after their finances properly and can often be used as guarantors. In this way, a loan can be taken out with guarantors despite a negative Credit Bureau.

What are the requirements?

What are the requirements?

In order to receive the loan with a guarantor despite a negative Credit Bureau, the borrower and the guarantor must meet the requirements. It is not enough if one of the two can meet the conditions and the other cannot. Both must have attachable income. Both of them must be able to provide proof of this with their pay slips. The last three to six months are usually required.

In both cases, this income must not come from marginal employment. In addition, the guarantor of the guarantor is checked. This must not have any negative entries. If, for example, the guarantor repays a loan himself, this is noted in the Credit Bureau. The person is then often rejected as a guarantor. The applicant and the guarantor must be over the age of 18 so that the guarantor can apply for the loan despite a negative Credit Bureau.

Credit is no longer repaid – consequences

Credit is no longer repaid - consequences

If the case arises that the borrower can no longer pay from the loan with guarantors despite a negative Credit Bureau, the guarantor must take over. If he refuses to pay the installments, a garnishment will be given. Then, except for the minimum rate, the bank’s wages are written up until the loan has been paid off. If both sides have difficulty paying the rate for a month, it is better to speak to the bank. Often you can have the installments suspended for a month or two.