Credit without work


Almost all banks reject a loan without work,

Almost all banks reject a loan without work,

Unless the applicant can obtain sufficient income from another source or provide other collateral. Finally, the loan for a retiree is also part of the non-active loan. However, since the pensioners can show an income from their pension, they usually get the desired bank loan. Pensioners are critical when it comes to applying for credit, which is why many financial institutions want short maturities.

Early retirees improve their credit chances if they receive benefits from private supplementary pension insurance in addition to the statutory pension. Students can easily get a job-free loan by applying for a special promotional loan.

Alternatives to bank loans without work

Alternatives to bank loans without work

In the case of a purchase in the trade, a loan without work in the form of partial payment can be easily absorbed, since most businesses do not submit their proof of earnings up to a fixed amount. The buyer must check carefully whether he can repay the accrued installments without work. A default can easily lead to a credit bureau negative feature that makes future installment arrangements impossible.

Beneficiaries of Unemployment Benefit II may be eligible for an interest-free grant from the Job Center for urgently needed household purchases. This loan without work from the Office is repaid by deductions from the future benefit receipt in small installments.

Another way to successfully apply for a non-working-income loan is through online private-loan platforms. Although they demand a minimum income for admission as a member seeking a payday loan, they generally accept unemployment benefits as well, unlike banks.

In addition to the acceptance by the platform operator, the approval of the members registered as lenders for a specific request is required for the loan payment. Some of them are happy to help those seeking a job without a job because they are guided by social criteria in their decisions. In addition, an open presentation of the personal situation and intended purpose for the requested private loan is important for a quick credit approval.

Especially for smaller amounts, the pawnshop offers as a contact for a loan without work. The pawnbroker asks neither for the income nor for the credit bureau, since for him the deposited pledge suffices as collateral. The prerequisite for a successful loan demand in the pawnshop is of course that the customer can lend a sufficiently valuable pledge. In addition, the Pfandhaus loan is one of the most expensive types of loans, not least because of the associated storage costs.

Bank loans without work

Bank loans without work

Depending on your personal situation, bank loans are possible without work. Few banks run the household account of married household customers with the entire household income instead of just with the income of the applicant, so that even the non-working spouse can take out a loan alone. Students who can not or do not want to receive a promotional loan receive a small loan from individual financial institutions, as they also accept parental support that regularly enters their current account as a relevant income.

However, in most cases it is essential for a jobless loan to find a co-applicant or to have a guarantor. The co-applicant must have a fixed income.

There are no statutory requirements for borrowing by two applicants. However, individual banks bind them to a common address of the main borrower and the co-applicant. If you would like to take out a loan without working with a resident, apply for the loan from a bank that does not mention this condition in its terms and conditions.

This applies to most financial institutions, so that a loan without work can also be taken together with a parent or a sibling.

5 tips on credit without work

5 tips on credit without work

1. Guarantor as co-signer

Those who have become unemployed should look for a guarantor. This must have a perfect credit rating and should ideally have had no debt at any time. In this way, the chances of a loan for the unemployed increase suddenly. However, in such a case, it must be clear that, as a rule, the guarantor becomes the sole borrower.

This is particularly the case if the income from unemployment benefit I is too low and thus there is no possibility that the loan will be repaid on its own.

2. Demonstrate the amount of the unemployment benefit I.

The unemployment benefit I regularly amounts to about 60 percent of the income that was last achieved. Here, the sum must exceed 500 euros, so that a loan is even in question. Therefore, it is necessary that the amount of the unemployment benefit I is necessarily fully demonstrated. This includes not only the amount that goes into your own bank account, but also those sums that may be transferred directly from the Office for rent and other expenses.

From these amounts, a total is calculated, from which in turn all additional costs are billed. If this results in the creditworthiness and there are no entries in the credit bureau, the borrowing can succeed.

3. List collateral accurately

Those who have collateral from their working lives should use it now. The own car, the valuables at home – all this can now act as security to ensure the repayment of the loan. However, it should not simply be said that these securities exist. Unlike people with a regular income, existence should be accurately demonstrated.

Based on such documents, a bank can quickly decide whether or not to grant a loan. If a family member has income, this can also be provided as collateral, provided that it agrees with the use for debt repayment.

4. Documents that are needed

Basically, the same documents must be submitted as with a person with work. However, the required documents differ here in a particular point: no employment contract must be presented, because this is generally not the case. Nevertheless, banks can demand that the last employment contract be submitted. This is especially the case if no decision has been made on the amount of GAL I.

From the corresponding documents it can be seen how high the last income was and what amount the borrower should expect from the agency. If there is a decision this must also be made available to the bank. In addition, bank statements should be submitted, which document the receipt of money. If there are savings accounts available, proofs can not hurt this either.

5. Credit abroad or privately

If you are looking for a loan without work, you can also go abroad. Credit intermediaries have specialized in such products and offer deals on favorable terms. So here criteria must be met. As a rule, the amount of the GAL i must exceed at least 400 euros per month. In addition, collateral can be demanded from the bank, as Swiss banks are not at risk.

On the other hand, a loan may help you privately. At the relevant credit exchanges, the loan must be presented in the form of a project, which is then financed by the investors. However, there must be small securities and no arrest warrants or affidavits must be noted.