In the case of a loan, the bank pays out a previously agreed sum of money to a borrower. The borrower repays the loan in installments plus interest within a certain period of time. To obtain a loan from the bank, certain conditions must be met. With a German house bank a credit information is generally obtained before a loan is granted. If there is a credit entry, this may be one reason why the loan is not approved and the applicant is considered unworthy of credit. In addition to the fact that the applicant may not have credit entries, he must have a regular income, or be able to prove that he has collateral or a guarantee. If he can not do that, he will not get a loan. But what to do to obtain a loan despite credit and unemployment?
Credit despite credit and unemployment
If you want a loan despite credit and unemployment, you have the option to include in the loan application a second person, who can prove a regular high income, or collateral or saved money. Another possibility is to win a guarantor. A guarantor may be a spouse, relative, friend, or acquaintance. He signs a contract to pay for the installment of the loan to the bank if the claimant is unable to do so.
Of course, a guarantor must also be able to prove a regular income or collateral. Furthermore, as a guarantor you have to be aware that in the worst case, you have to pay for the entire loan and additionally have a guarantee on your own creditworthiness. But there are other ways to get a loan despite credit and unemployment.
Credit despite credit and unemployment through a foreign bank
Foreign banks grant a loan faster than German house banks. You also have the possibility to get a loan without credit-information. Furthermore, you will not get a new credit entry from a foreign bank. Foreign banks also grant credit if you are unemployed and can only repay very low rates. The maturity is accordingly adjusted for foreign banks and one can expect a term of up to 120 months. As an unemployed person, you can also take out a loan and repay it with adjusted, low rates. However, the interest rates are usually much higher for a foreign bank, at least if you want a loan without credit information. Interest rates vary between 5% and 16%. It is worth comparing offers on the Internet. The supply varies greatly between the individual banks.
The Internet offers optimal opportunities to quickly and easily obtain appropriate offers.
Just indicate how much credit you want to receive. Furthermore, what should be the monthly rates, and whether you want to have a flexible term, a long or short term, a low interest rate or the like primarily. After entering the personal data you will receive a short time later by e-mail an individual, non-binding offer. These offers can now be compared. You should make sure that you really take all the costs into consideration. Possible additional costs include an agency fee, administration fees and a fee for insurance.