When banks lend, they demand certain collateral. This includes the sufficiently high income. Banks are not very cooperative when a marginal employee needs a loan. Credit default risk appears too high for credit institutions. It is not just the credit that suffers, but also, in a sense, the repayment of the loan. With a small income even small installments can not be raised, because the money is just enough for a living. Minor employees usually receive a maximum of 400 euros. The person looking for a loan should know that a reputable credit for marginally employed persons can only be obtained through other valuable collateral. Unless, of course, marginal employment can only be regarded as a part-time job and added to a higher income. Also, additional sources of income such as rental income or a pension increase the chances of a loan for marginal employees.
The loan for marginal employees
Banks do not lend if their creditworthiness is insufficient to secure the loan. Especially people with a particularly low income often need money to pay, for example, open bills. Who then has no collateral to offer, can name a guarantor or a co-applicant. The guarantor is checked carefully, a clean private credit is a condition, as well as a sufficiently high income must be present. The income must cover the cost of living of the guarantor, as well as his own financial obligations. He must not slip with his guarantee in the financial offside. Here, the legislature has issued a rule that reads: If a guarantor gets into recourse in the event of a credit default on the part of the borrower, he must be in a position to pay this loan without any problem. If this is not the case, the guarantee is not legal. A loan for marginal workers should only be so high that the important things are done with it. Under no circumstances should a loan be taken for marginally employed persons for a holiday trip or for clothing. These things can wait until the merit has improved.
Do not fall for a flowery advertisement
A bank will not grant credit to a loan seeker if, for example, he has only a cash receipt of 400 euros. If there is no partner who could secure the loan with his income, the chances are more than bad for a loan. The advertising, especially on the Internet, promises a loan even to marginally employed people, some even offer a loan without income. But that is window dressing, because every bank that lends money wants to see its money again. It can certainly be assumed that credit offers are on dubious ground. One must also call these offers lock offers, because there are often insurance contracts offered to approve a loan approval. Similarly, a loan request should be free. A reputable credit intermediary works on a commission basis, ie if a loan is made, he can settle his fees. Serious loan brokerage will not provide credit based on the precarious situation in which the loan seeker finds himself.
Collateral increases the credit opportunities
Unless the loan seeker seeks a loan for marginal workers, he has other security. This can be a debt-free property, rental income, a capital-forming life insurance or a building society savings contract. If the credit is not too high, a higher quality and almost new car can be pledged until the loan is paid off. What still increases the chances of adequate collateral, is a clean private credit.It should be no negative entries in it, but that is the case, then there are only the private credit-free loans and they also have their conditions. Thus, a sufficiently high work income must be present and an indefinite employment contract must exist. But since a marginal employee does not have these facts, a foreign loan will not be approved. Each bank sets up a household bill in addition to the private credit query. In the expenditure and revenue are offset against a fixed rate against each other. In the case of marginal employment, it should be clear that there is no money left over from which, for example, the installments could be paid. The budget surplus required by the banks is around 850 to 900 euros. A loan for marginal workers is subject to a minimum income and this is around 800 euros. Anyone who can provide the monthly and prove that he can earn a living with 600 euros, can still not count on a loan for marginal workers in some circumstances, as this is interpreted differently from bank to bank.
Those who fail in their efforts to obtain a loan may be able to ask their relatives or friends for a small loan. This is better, because these amounts are often lent without an interest surcharge.