Debt Rescheduling taken out with a variable interest rate

Loans with a long term in particular like to be taken out with a variable interest rate. Or there is also a fixed interest rate, which however expires after a predetermined period. If you compare well here and decide to reschedule, you can save a lot of money with the new rescheduling loan.

Interest rates for lending transactions are generally based on the guidelines set by the Fine Bank. If interest rates fall, it can be significantly cheaper for the borrower to replace an existing loan and to take out a new loan with a lower interest rate for the loan debt. When a loan for debt restructuring is a good way and when it is no longer worthwhile is to be clarified here.

Check and weigh carefully

Check and weigh carefully

Debt restructuring is generally only possible if the bank agrees. When taking out a long-term loan, you should consider this and take the appropriate precautions. So it is important that the possibility of debt restructuring is laid down in the loan contract. The bank cannot refuse the debt rescheduling and a loan for the debt rescheduling can be taken out. In addition, it must be checked whether and to what extent the bank charges fees for rescheduling. It should then be calculated exactly whether the debt restructuring is still worthwhile.

You can get a loan for a debt rescheduling from almost every bank. If you observe the interest rate development in advance, you can use a point in time for the debt rescheduling at which the interest rates are particularly low. The loan for the debt rescheduling must always be taken out before the old loan is canceled, since the money is required for the cancellation. Both processes therefore overlap by a few hours or even days. Depending on which banks you do this with.

When debt restructuring is not worthwhile

When debt restructuring is not worthwhile

Debt restructuring is only recommended if you can really save money. If the current loan has only a small debt and the bank charges a high processing fee, it can happen that rescheduling will not bring any savings. On the contrary: In the worst case, you can even pay extra. So you should always calculate and observe carefully before deciding on such a step.

Tip: Even if the time for a debt rescheduling has not yet come, you can have the currently low interest rates secured for a loan. With a forward loan, this is possible at any time. So you benefit from the low interest rate when a loan for debt restructuring is possible. No matter what interest rate may prevail. The interest is secured and can be used.

Get a credit without contributor.

In the case of a loan without a co-applicant,

In the case of a loan without a co-applicant,

The borrower acts as the sole recipient of the loan vis-à-vis the borrower. As a result, he is primarily responsible for repaying the loan amount and interest to the bank. If several co-applicants take out a loan, the bank can virtually decide from which borrower to demand the repayment, which is usually carried out in solidarity. In the case of a loan without a co-applicant, on the other hand, the borrower appears alone, which means that he also takes the entire loan amount.

However, a co-applicant should not be confused with a guarantor, because while both are equally liable for the debt resulting from a loan, the guarantor himself has no right to receive the loan amount proportionately. For this reason, a guarantee is also associated with a significantly higher risk, and the guarantee is often chosen if the actual borrower is unable to obtain a loan independently due to poor creditworthiness.

Co-applicants, on the other hand, are often business partners or spouses who want to take out a loan for a larger investment and also want to repay it in solidarity. Both parties usually have at least a sufficient credit rating so that both people would also receive a loan independently. The combination with a co-applicant, on the other hand, also allows higher-end loans with shorter terms to be taken out.

Clarify the situation in advance

Clarify the situation in advance

If you want to take out a loan without a co-applicant, you should be very sure that you can serve the lender in full and on time. In contrast to loans with other borrowers, the recipient of the loan amount for the loan without a co-applicant is entirely on his own, which is why no joint and several liability is possible. However, the borrower can still use a guarantor to secure the repayments and to increase the creditworthiness, provided that at least there is a person in the closer environment who is financially capable and willingly bears the resulting risk.

If this is not the case, the bank can only prosecute the borrower if there is no payment. These would then result in high reminder costs, which, in the worst case, could even result in bankruptcy in the event of a further delay. Therefore, borrowing should always be considered carefully, although people with a regular employment relationship and at least average income naturally pose a low risk of default. Individuals who do not have sufficient creditworthiness can specifically increase this through a co-applicant, whereby this additional borrower always has a share in the loan amount. The guarantee would be a more sensible solution in this case.

Take out a loan from private individuals.

You can take out a cheap loan not only from the bank, but also from private investors. If you prefer a loan from private individuals, you can opt for an offer without proof of creditworthiness and go looking for it on the free financial market.

In terms of their performance, these loans are convincing with various advantages and can be shown to be low-interest, but also flexible in terms of the contractual arrangement. Since you do not have to prove your Credit Bureau score with online credit without a credit rating and have to provide it in a positive form as a prerequisite, all consumers have the same opportunities when it comes to private loans and do not have to expect a rejection of their request.

Who is a private loan suitable for?

Who is a private loan suitable for?

These offers are primarily aimed at all consumers who would not receive approval from their house bank due to their limited or negative creditworthiness. Whether you are unemployed or earn little, have entries in the Credit Bureau due to debts or are self-employed plays a subordinate role. This is because the hedge is not based on the financial background, but rather on collateral actually available to the borrower or the liability of third parties.

Even a rejection at the house bank does not have a negative impact on the loan from private individuals and does not prevent a contract from being concluded. Since not every offer automatically fits every applicant, if you are looking for a loan from a private lender, you should use a comparison and opt for a free comparison of different models on the Internet. In general, every loan from private individuals is an online loan, which does not require an appointment to speak in advance and is easily and unbureaucratically applied for online using a form.

The form must contain all the information on the applicant requested by the sponsor, as well as a plausible description of the available collateral. First and foremost, the lender will concentrate on the collateral and give his approval, these will be shown to be of adequate value to the loan amount and are plausibly presented. Anyone who does not have any real assets in this amount can of course also be liable with a guarantee or through a co-applicant and provide security in the form of a liability assumption by a third party.

When things have to go fast – a loan from private individuals is convincing

When things have to go fast - a loan from private individuals is convincing

An invoice that cannot be postponed, further training or private training, a move, a new acquisition or repair, these and other reasons may make a loan necessary. It is not only a cheap offer that is important, but often also a quick and unbureaucratically approved offer. The combination of a low interest rate and flexible contractual basis has proven itself and ensures satisfaction and financial security for the borrower not only at the time of application, but also during the term.

If there are changes in the budget during the term and a temporary deferral or reduction in the repayment seems necessary, this can be met with a flexible loan from private individuals and does not have to expect the loan to become more expensive. In the variety of loan offers, it is not possible to keep an overview without a comparison and to direct your decision to an offer with advantages. Since the comparison on the Internet is free of charge, all potential borrowers can make use of it and opt for a comparison.

Without waiting, you get an overview of the available offers and can then make a decision on a sound basis. The applicant already receives the permit in less than 24 hours. This is followed by a seamless transfer of the sum, so that even when there is an urgent need for money, the focus on the private lender is worthwhile and any bureaucracy can be excluded.

In different sums and for different areas of application, one can apply for a loan from private individuals on the free financial market and do not have to accept a refusal with poor creditworthiness. As the protection is very important, you should attach great importance to the specification of the collateral in the form and provide it with plausibility. As soon as the application is received by the lender, it is processed, approved and the loan is transferred to the borrower without waiting.

No worries about credit- banks offer loan without asking the employer.

If you apply for a loan, you don’t just have to worry about whether you can pay it. The question of conditions must also be clarified in advance. This information is sometimes accompanied by the question: is the credit reported to the employer? In such a case, the customer can breathe a sigh of relief, because a loan without asking the employer is rather the exception. After all, borrowing is a very sensitive issue and everyone wants a loan anonymously as far as is feasible. But there is the loan without asking the employer.

The outlook

The outlook

Of course, a credit where everything is right, where the credit rating is right, Credit Bureau is clean and the customer has provided truthful information in his or her own information, will be given a loan without asking the employer. However, there are special moments when the exception confirms the rule. Whenever there is a suspicion that the proof of income has been manipulated or if other false information is noticeable, it may well be that the bank makes an inquiry to the employer.

The rule, however, is that a loan is given to the employer without asking. The customer should know that the data provided on a loan are subject to data protection. Information about this to others is only permitted in strictly regulated exceptional cases.

The bank cannot ask this question on its own, the customer must give his consent. It is also important that the employer is not allowed to know any details about the loan. If the loan seeker dutifully provides information such as address, company name and telephone number, he has by no means given the bank the right to consult the employer.

When a loan application is filled in, the required loan amount must be entered. So that the bank can see whether the customer can pay the loan, they require a proof of salary. If that is not enough, for example if the salary statement does not indicate a possible time limit, the bank can request a copy of the employment contract. In many cases, if the amount of the loan is high, the employer will need a certificate stating that the employment relationship has not been terminated. The loan seeker must submit this formality to the bank. There is no question from the bank,

There are cases where banks call an employer and then want to speak to the applicant. However, this is not yet a question. It may well happen that the bank has a special question for the applicant, which the applicant could then answer on the phone.

In almost all cases, the bank issues a loan to the employer without asking, even if the right can be confirmed in the loan application. If this comment had to be deleted in the credit agreement, at the instigation of the customer, the bank could assume that the customer did not provide the correct information and the loan will then be rejected without asking the employer.

However, the newer loan agreements are structured differently, so this note is no longer included. This way, borrowers can inform their employer themselves, for example if a loan with a large loan amount has been taken out.

When can the bank ask the employer?

When can the bank ask the employer?

A worker consultation can also be important. Just as mentioned before when there is a large building loan or a real estate loan. However, the employer is given the opportunity to inform the employer himself. This can even be a good thing, because many larger companies in Germany offer their employees loans that are particularly good for real estate financing, especially for them.

There are also employers who agree with the employment contract that the employee should not borrow from other banks. This happens when the employee himself works at a bank. For example, the Volksbank will not be very happy if its employee takes out a loan from the Sparkasse. Employees who do not adhere to this should ensure that a loan is made without asking the employer.

Banks can of course ask the employer if there is a suspicion that credit documents have been falsified or manipulated. If this is confirmed, the bank will not pay out a loan. In the worst case, the customer can receive a credit fraud report.

The loan from the employer

The loan from the employer

An employer is not entirely uninvolved when his employee is in financial trouble. Many employers agree to provide a loan to their employees. The conditions are usually better than at a bank. The loan is often granted without interest. Especially the employee who wants a loan without asking the employer is such a loan the solution There are no additional costs that make a loan more expensive.

However, some preliminary work is required before a loan can be approved without asking the employer. In principle, a loan from the employer is voluntary. In addition, there must be a general law on equal treatment. This means that an employer cannot indiscriminately consider an employee and others remain. However, if the employee is already heavily in debt, an employer will probably no longer grant a loan.

As with all other loan agreements, the loan should be recorded in writing without asking the employer that the employer grants. The loan amount, the term and possibly the interest rate must be specified. It is better if the works council is involved in this process.

Even if the employer grants his employee a loan, the employment relationship can be terminated. To ensure that the employer does not remain on the credit of his previous employee, all repayment agreements should be written down properly and in writing. If no repayment has been agreed, the employer can fully reclaim the loan within three months.

The loan from abroad

The loan from abroad

If the customer has a bad credit rating and does not get a loan from a Cream bank and the employer does not provide any credit either, the Credit Bureau free credit remains for the loan seeker. The funds come from abroad and do not appear in the Credit Bureau, so the bank does not learn about the loan without asking the employer and the employer.

But with this form of credit there are strict requirements. The income must have an attachable portion and the permanent employment must have existed for at least 12 months. If the customer can meet the conditions, he will receive a small loan of 3,500 USD and, depending on the creditworthiness, 5,000 USD. The loans should be paid on time, as foreign banks immediately file the garnishment in the event of default. So the employer would still learn about a loan.

Enjoy the easy loan with instant approval.

If you want a loan with an instant approval, you should take a look at the online banks. After the loan application has been made and the required data entered, the loan seeker will receive a preliminary loan approval within a few minutes. This enables a customer to plan and act with foresight. But the house bank could also provide a loan with immediate approval.

The loan from the house bank

The loan from the house bank

A loan with an instant commitment brings good predictability for a loan seeker. This means that urgent purchases, urgent invoices but also wishes can be fulfilled. The customer can contribute to the duration and the rate.

He is in a particular hurry and can find the way to his house bank. The customer is known there and they know their financial situation. If he then carries all the relevant credit documents with him, the bank can immediately approve the loan with immediate approval after checking the documents and asking Credit Bureau. The customer can often take his money with him in cash or it is paid into his account.

If the creditworthiness is not sufficient, for example because the income is not so high, the customer can provide other collateral. Think of a property or a life insurance that can be lendable. However, a second borrower or a guarantor is also recognized as credit protection.

The bank uses the evidence in the form of proof of salary and the account movements on the checking account to check the creditworthiness of the customer. In order to receive a loan with immediate approval, you must also have an unlimited employment relationship. If the employment contract is temporary or if the borrower is still in trial period, he will not receive a loan without collateral.

The loan with instant approval from online banks

The loan with instant approval from online banks

However, branch banks like the house bank is one, not as cheap with their terms as a direct bank from the Internet. A credit comparison can be used to find a cheaper provider, and the terms and conditions can also be found out. The loan application can also be made directly via the loan comparison.

The data that a provider needs in advance are the name, the address, the income, the loan amount, the term and any installments to be paid. Based on this data, the provider will make a preliminary loan approval that will be made within a few minutes. The customer then receives the loan application, which he has to fill out and return to the bank with the necessary credit documents. Proof of salary, bank statements and a copy of the employment contract are required.

On the basis of these documents, the bank will check the customer’s creditworthiness and, if necessary, issue a final loan approval. The whole procedure takes around 7-8 working days. However, the customer already has the preliminary immediate promise. Of course, the bank checks the Credit Bureau, which must not contain any negative entries. Since many internet banks use an automated test procedure, customers with bad credit are immediately sorted out.

The loan with immediate approval from abroad

The loan with immediate approval from abroad

If the loan seeker cannot find a Cream bank, he could try a credit broker. This professional group also knows banks that are not so well known but still approve loans even if the entry is negative. However, it must not be a serious entry such as bankruptcy, attachment or affidavit. But these loans will certainly be more expensive than a conventional loan.

Another way is shown with the Credit Bureau-free loans that come from abroad and mainly from Liechtenstein. Until 2009, almost all of these loans came from Switzerland. Since 2010, Litebank from Liechtenstein has taken on this form of credit in full with all terms and conditions. In the case of Credit Bureau-free loans, there is an immediate confirmation based on the data entered after the loan request.

Of course, the bank from Liechtenstein also checks the creditworthiness of the customer. As with all other banks, income is also put to the test. It must be sufficiently high and have an attachable share of at least 100 USD. An example: A single must earn a net 1,160 USD for this bank’s 3,500 USD loan. If four people live in the household, the garnishment-free limit is 2,500 USD.

In addition to the income, there must be a permanent job that has existed for at least one year. It must not include a trial period and no time limit. The foreign bank provides customers with three loan amounts. Once 3,500 USD, 5,000 USD and since July this year 7,500 USD are offered depending on the credit rating. The credit rate for the 3,500 USD is 105.00 USD, the 5,000 USD credit has a rate of 150.00 USD and the 7,500 USD credit is about 220.00 USD. Despite careful research, an exact rate amount could not be determined.

The documents will be sent by post with the signed loan agreement. The borrower must also carry out the Postident procedure at Swiss Post beforehand. This form for identifying the person will be enclosed with the credit documents and sent. The bank checks the documents and, if necessary, issues the loan approval.

When choosing a loan agency, care should be taken to ensure that the agency works properly. So preliminary costs or insurance contracts are not serious work, another serious credit broker should be looked for here.

Interesting facts about credit with instant approval

Interesting facts about credit with instant approval

If you want a loan, look for a cheap interest rate. But that shouldn’t be the focus. Any special repayments also make up a cheap loan with immediate approval. So it should be allowed to make free special payments once a year. Many employees receive bonuses or special payments from their employer every year. If special repayments are allowed, these payments could pay off the loan more quickly.

Before making use of a loan agreement, the customer should carefully examine his economic situation. Can he pay a loan at all and how high can the rate be? If the customer does this preparatory work, he goes into a loan agreement well armed and there are fewer loan defaults. To find out if he is financially able to pay a loan, he can do so with an income / expenditure plan.

He simply compares his income to his expenses, and if there is financial scope, this could serve as payment in installments.


Loan despite negative Credit Bureau without upfront costs.

Whoever has a negative Credit Bureau entry is usually not alone. Many households have it, it is enough not to have paid an invoice on time. However, such an entry can have negative consequences, because the banks check the creditworthiness before a loan approval and inevitably come across the negative entry in Credit Bureau.

A rejection of the loan request is therefore preprogrammed in most cases. Nevertheless, despite a negative Credit Bureau, a loan is advertised again and again without any upfront costs. What is it about such offers?

Credit despite negative Credit Bureau without upfront costs

Credit despite negative Credit Bureau without upfront costs

There are plenty of intermediaries on the market who, despite a negative Credit Bureau, offer a loan without any upfront costs. It is not decisive that something is in the Credit Bureau, but something. The entry is important. A forgotten bill is rather harmless for financial service providers. However, a garnishment of wages is serious and leads to a rejection. There are households that use such offers. Few people are bothered by the fact that these are associated with higher interest rates.

It is only important to find the right provider, because there are some black sheep in this area in particular. You should be sensitive to noise when preliminary costs are required. In principle, a loan request is never associated with upfront costs. These only arise when a credit agreement is successfully concluded. If costs are nevertheless asked in advance, you can be sure that these offers are dubious.

Apply for credit online without Credit Bureau

Apply for credit online without Credit Bureau

You can apply for a Credit Bureau-free loan online. However, there is not always a loan approval. It is important to have a fixed income from a self-employed activity and a place of residence in Germany. It is not always negative Credit Bureau entries that prompt customers to choose a Credit Bureau-free loan. In many cases, the people concerned simply do not want Credit Bureau to be notified, because there is actually no notification for these loans. So the house bank does not learn anything about it.

Borrowers can take out a loan despite of their little income.

Banks earn money by lending on the calculated interest. Basically, it is easy to apply for a loan if the loan seeker can meet the conditions of a bank. Under these conditions, banks understand a sufficiently high income that is above the garnishment exemption limit and shows a garnishable portion. The Credit Bureau must also be clean, it must not contain any negative entries.

The loan seeker should know that the seizure allowances are created every two years. The loan seeker who wants a loan despite little income will only get a loan under difficult conditions.

Those who earn well

Those who earn well

If you earn well, you don’t need a loan. Those who earn well can put aside a lot. Those who earn well can pay for larger purchases or repairs from the current budget. However, the reality is different. A good earner also needs a loan. However, he will get better terms than a low income customer.

Not only the credit opportunities increase, the loan amount can also be larger if the customer has a very good income. Banks want to see collateral if they grant a loan despite little income. If the income is insufficient, other credit safeguards must be mentioned. Banks are happy to suggest a second borrower or a guarantor.

In the case of a second borrower, the partner could join the loan agreement and thus secure the loan. However, he must be aware that if the borrower encounters payment problems, he must continue to pay the loan. For this reason, the solvent must be solvent, ie his income must be above the garnishment exemption limit. His Credit Bureau must also be impeccable. If the conditions can be met, the bank will check the creditworthiness of the borrowers on the basis of salary statements and bank statements from the past three months.

If the income that the bank checks based on the bank statements is correct, a loan is approved despite the low income. Many loan seekers wonder why the bank doesn’t approve a loan with a small income. This group of people pays their living expenses and other expenses from a low income. It is not only the garnishment exemption limit that has to be right, but the bank will check the customer’s complete economic situation.

This is done by drawing up an income / expenditure plan. As the name suggests, the income is compared to the expenditure. If there is financial scope left, this could be used for the rate. This creates a different picture and the customer receives a loan without a second borrower despite little income.

But often the check shows that everything goes from zero to zero and there is no financial leeway. With such a constellation, the bank must assume that the loan will default and will reject the loan despite little income.

The guarantee

The guarantee

But what to do if the customer urgently needs a loan. In this case, a surety could be an option. The guarantor is rigorously checked by the bank. He must also have a sufficiently high and regular income. The Credit Bureau must not contain any negative entries and it must have a permanent position. The job may not be limited and may not include a trial period.

The guarantor must be fully informed about a guarantee. Finally, he and the borrower assume the obligation to repay the loan. That can be a big risk. If the borrower stops paying, the guarantor has to step in and continue to pay the installments out of his own assets.

If the guarantor’s economic situation is good, the loan can be approved despite little income. The guarantor should also know that the guarantee is entered into his Credit Bureau like a loan, and this can reduce his credit rating.

Banks often ask for a surety, which puts the guarantor at the same level as the borrower. In a figurative sense, that the guarantor is immediately obliged to do so, there is a loan default, and the bank does not even have to carry out a complex reminder procedure.

Another option, which is much better for the guarantor, is the default guarantee. Here, the debtor must first go through all legal instances in order to ultimately go to enforcement. If these measures are of no avail, only then will the guarantor be brought into recourse.

There is also a temporary guarantee. The guarantor is bound to the guarantee in a timely manner. An exact time and a certain loan amount are agreed. If the time frame is over, the guarantor is out of the guarantee again.

Alternatives to the guarantee

Alternatives to the guarantee

But it doesn’t just have to be a guarantee that secures the loan, it can also be real estate, valuables or loanable life insurance. The rule applies that the more valuable the protection is, the more the chances of getting a loan increase despite low income. However, the low earner will only receive a small loan.

The small loan can be in a credit line of around 5,000 USD. Thus, the low loan amount remains affordable for a low earner. If the customer has an income that is just above the garnishment-free limit, a loan can still be successful with the aforementioned protection despite little income. But here the loan seeker can assume the conditions will not be that good. The bank will charge a higher interest rate for a customer with a poor credit rating.

In doing so, she tries to absorb the risk of default of the low income that could possibly arise. If you have collateral to offer and are aware that you can pay the installments, you should definitely conduct a free loan comparison. This shows the borrower the cheapest providers based on a list.

The interest rate that some providers display is not relevant for all customers. This low interest rate is only given to customers with an excellent credit rating. The customer only gets his own interest when he obtains a personal loan offer.

If a loan does not come about despite little income, but the customer absolutely needs some things, remedies can be remedied via mail order companies or dealers. The customer can buy consumer goods there, these do not require strict requirements. Often, having a credit card is enough for the merchant and the purchase is perfect. Nevertheless, even with this purchase, there must be certainty that the installments can be paid. If the customer can no longer pay the installments, the dealer will move in the purchased goods.


Bank grants credit with a time contract.


In contrast to the past, the world of work has changed dramatically. There are many workers who work on a temporary contract. These workers cannot plan into the future and do not get a loan with a temporary contract. Not only young people are affected by this, even academics or scientists work on a temporary contract.

This often lasts for several years, namely if the time limit is always extended. No perspective regarding future planning can burden many workers. Banks or other donors generally refuse a loan with a temporary contract. Nevertheless, there are ways to raise funds.

The loan with a time contract – the prospects

The loan with a time contract - the prospects

The trend of today shows temporary employment contracts and temporary contracts in almost all professional sectors. Even highly qualified people often only receive a temporary employment contract. Temporary contracts have been designed to create a flexible labor market. If you take a closer look at the condition of a temporary contract, you can also see positive features.

We are thinking of a pregnancy replacement that is concluded with a temporary contract or also in the case of long-term illnesses of employees, an employee with a temporary contract provides the perfect solution. However, there is also a lot of abuse. In July 2012 the BGH already criticized the so-called chain time contracts in the public service.

Some purchases, repairs or renovations can usually not be paid from the financial monthly budget. The normal citizen then goes to the bank and applies for a loan. If he can meet the conditions of the bank, the loan will also be approved. In addition to a sufficiently high income, the bank also requires permanent, permanent employment.

If the employee is unable to present this because he has a temporary contract, he has the option of taking a second borrower or a guarantor into the loan with a temporary contract. The other variant could expire with the time limit. The loan then has a term as long as the time limit lasts. Especially with a small loan, banks are generous with this constellation.

Neither the bank nor the employee knows what will come after the end of the time limit. If the employee becomes unemployed or his contract is extended. The employee receives unemployment benefit if he becomes unemployed, but this is generally lower than his income. The allowance will be just 60% of the last net income.

For banks, however, income plays an important role. This must be sufficiently high and show a garnishable share. There is also an open-ended employment contract that secures the income. Smaller loan amounts that are paid at the end of the time limit are not a problem. Large financing, on the other hand, creates problems.

The overview

The overview

As many workers know, there are long-term and short-term contracts. A manager who works on a project is hired on a temporary contract that lasts until the project is completed. That can be several years. This professional group in particular receives very good income so that high installments can also be paid.

If the project period is set to run for several years, there will also be a loan with a temporary contract, as income is secured in the long term. That can be quite large loan amounts.

However, a different picture emerges if the temporary contract is limited to one year or even several months and the employee “only” has a normal income. Neither the bank nor the employee knows what will come after the end of the time limit. If the employee becomes unemployed or is taken on. There is also the possibility, provided that the employee knows exactly that he will be taken on, by the company to submit a notification.

Likewise, there is a different situation for school leavers. They work for one year on a temporary contract and then start studying. If the student can then use German state funding or other grants, a student loan could be applied for. However, this leads to a completely different credit situation.

In summary, there is the possibility to get a loan with a time contract if the loan is paid off within the time limit. In most cases, however, only a small loan is provided. Larger loan amounts are then only approved with collateral.

The credit protection

The credit protection

If an employee needs a higher loan amount, the loan must be secured as mentioned above. He can then, for example, include a second borrower in the contract. But this is also checked for its solvency, in addition, the Credit Bureau must be impeccable and have a permanent position.

If the second borrower is a pensioner, the pension notification is considered a secure income. However, it is important to pay attention to the age of the pensioner. Parents or grandparents could be named as the second borrower.

A surety is also used to secure credit. The guarantor must meet the same conditions as a second borrower. With his surety he is liable with his assets in the event of a loan default on the part of the borrower and must continue to pay the installments. Most banks require a joint and several guarantee, which equates the guarantor with the debtor. This means that if the borrower no longer pays for the loan with a fixed-term contract, the guarantor must do so; the bank does not even have to carry out a complex reminder procedure.

Many ruins have already resulted from a guarantee. This happens when the guarantor is unable to pay the loan installments. In this regard, the bank will examine the guarantor comprehensively and examine its economic situation.

The possibilities

The possibilities

Temporary contracts affect all professional groups today. Doctors or respected professions are also affected. These are, so to speak, large earners who could pay a loan with a fixed-term contract at high rates. The bank could then also provide a higher loan amount for these people.

Small loans always go to banks. If you are looking for real estate financing, you should wait until the job is permanent. If the bank approves a small loan that goes beyond the time limit, the employee should choose the installments with a view to unemployment in such a way that they are also payable in the event of unemployment.


Banks offers a credit during training.

The training prepares for the future profession. Depending on the apprenticeship, it takes the form of a dual apprenticeship in a training company and vocational school or in a vocational school. A first degree at a university or university of applied sciences is also a variant of vocational training, even if most courses do not specifically prepare for a single profession.

The form in which a loan can be taken out during the training depends on the type of training. The applicant must be of legal age in order to borrow during training. The bank may not refrain from this even if both legal guardians agree.

Borrowing while training at a technical college or university

Borrowing while training at a technical college or university

It is easiest for students at technical colleges and universities to get a loan during their training. If their parents’ taxable income is not above average, they are entitled to German State Funding. The resulting payments represent half a grant and the other fifty percent an interest-free government loan while studying at a university. Regardless of the German State Funding connection, students are entitled to a cheap development loan from Litebank.

Even bad Credit Bureau information is harmless for the credit decision, if it is not a registered personal bankruptcy. Visitors to technical schools for vocational training also receive a discounted loan from Litebank during their training. The entitlement basically exists in the last two years of training. Litebank’s training financing does not have to be paid back until the course has been completed, so that the installments do not burden the budget during the training phase.

Some major banks and some regional savings banks or Infrabanks also offer training loans comparable to Litebank promotional loans. The conditions for lending vary depending on the bank, the start of repayments after the end of the training is largely common.

Borrowing during training in the dual system

Borrowing during training in the dual system

If you want to take out a loan as an apprentice during your apprenticeship, you can claim the apprenticeship remuneration as regular income. As this alone is not sufficient to pay the loan installments incurred and to make a living, the trainee states in the loan application further income or the savings from living in the parents’ household. Not every bank takes parental support into account when it comes to household bills.

When applying for a loan, trainees receiving trainees receiving dual vocational training make sure that the bank they select takes into account the performance of their parents in the credit check. You can usually find relevant information on the bank’s homepage. Alternatively, an immediate loan without proof of salary can be taken out as a loan during the training. In this case, the inclusion of parental support in the monthly income seems legitimate.

Loans generally accessible during training

A installment payment agreement in retail can be taken out as a loan during the training without any further requirements, since mail order companies hardly ever ask, and brick-and-mortar stores only ask for proof of income in large amounts. The installment customer must of course make sure that he can service all installment payment agreements made during his training period as agreed. Furthermore, a first disposition credit is available for almost every young person in training as soon as they reach the age of majority. Most credit institutions grant their checking account customers an overdraft facility for regular payments.

As such, not only the training allowance for dual training counts, but also the German State Funding. Subsidies from parents are also included in the calculation of an overdraft facility if they are not paid out in cash but are instead transferred to the offspring’s checking account. A credit can also be taken out during the training via a credit card. Various issuers issue special credit cards for adult trainees and students. They usually combine this with an initial credit line of 1000 USD and grant the installment facility at the young customer’s request.

Another cheap way to take out a loan during training is through platforms for personal loan brokerage. The private lenders registered there draw loan requests from young people during their training phase, precisely because conventional credit banks are hesitant when it comes to lending to them. The prerequisite for organized private borrowing during the apprenticeship is to describe the purpose as precisely as possible, since private lenders base their decisions strongly on this.