Those who are unemployed and need a loan can face great difficulties. Banks see the unemployed as a risk group. Nevertheless, it is possible to get an installment or consumer credit. The following guidebook shows what should be considered and points to different possibilities.
What is a lightning loan for the unemployed?
A loan for the unemployed is an installment or consumer loan that can be paid out very quickly. If larger purchases are necessary, usually a loan must be requested. For people with regular income this is not a problem. For the unemployed, it is hardly possible to obtain loans through reputable providers . Unemployed people are usually considered a big risk.
What speaks for dubious providers?
An unemployed person can easily receive a dubious loan. Identification is usually an instant loan commitment . Also the request for the purchase of a life insurance or a Vauspar contract are clear signs for a unserious offerer. Particularly high interest rates are usually associated with fraud.
Possibilities of the TackCredit admission
Usual banks rarely provide lightning loans for the unemployed. A reputable alternative is credit platforms or credit intermediaries . So several online platforms circulate on which private individuals make their money available on loan. The role of credit intermediaries is to help unemployed people find a reputable provider.
Requirements for a loan
The basis for a loan is a regulated income and a good credit rating . So no negative Credit bureau entries. Of course unemployed people can not show a regular income. That’s why the bank needs other collateral. These include guarantees or co-applicants, but what exactly is the difference?
The contract takes place between the guarantor and the bank of the unemployed person. The guarantor can be held liable for the liabilities . He is the principal debtor to the bank. Since the guarantor can be held liable with all his assets, the guarantee is particularly risky.
A co-applicant would also like to take out a loan. It is therefore two persons on a loan agreement . Both partners are allowed to decide on payment and use. A co-applicant carries an even greater risk than a guarantor. So this not only has to step in if the unemployed person is unable to pay, he can also be held immediately liable by the lender.
Other collateral, such as a car or property, can lead to a loan commitment. owever, care must be taken that the income is above the seizure limit .
Tips for a loan for the unemployed
Tip 1: check alternatives
It should always be tried first to get a loan from the Employment Agency . That’s usually the best choice.
Tip 2: guarantor
To increase the chances, a guarantee is recommended. The guarantor must be liquid and aware of his risk. A co-applicant also has to be aware of the financial burden.
Tip 3: Compare loans
As with any credit usage, a credit comparison is always worthwhile. The same duration, loan amount and the amount of monthly installments can vary significantly with different providers.
Tip 4: Budget statement
In any case, an invoice should be made in which all costs are included . The repayment installment is the difference between the unemployment benefit and the cost of living.
Tip 5: Apply for a loan online
After selecting the provider, the TackCredit can be applied for online immediately . If not all documents are available, they can be forwarded by post. If it is a private loan provider, usually no income proofs are necessary.
Further credit options
Unemployment loan from the employment office
The Employment Agency also grants loans. For this, however, some requirements must be met. The loans from the Federal Agency are not linked to any interest payments . However, a loan is only granted to the unemployed who receive unemployment benefit 1. For unemployed who receive unemployment benefit 2, the ARGE is responsible.
If you start a new tenant relationship, you usually have to pay a deposit. For unemployed persons without income, a bond guarantee is an ideal offer . The landlord renounces his deposit and receives a guarantee certificate. The renter has to pay a yearly fee instead.
Another way to get a loan is through private lenders. Family and friends are a great opportunity to get money quickly and seriously. On the one hand, no interest has to be paid, on the other hand there is no Credit bureau registration . However, it is also important to ensure that a written contract is determined. If you have a co-applicant and you get a job surprisingly, the loan agreement can easily be rewritten to the debtor.
As already mentioned, there are numerous reputable providers on the Internet who do not require Credit bureau’s insight. Often a non-binding offer can be made.
A lightning loan for an unemployed is not an impossibility. However, you should definitely pay attention to the seriousness of the provider . Immediate promises or the compulsory conclusion of a life insurance are to be treated with caution. If one’s own income is insufficient, alternatives such as guarantors or co-applicants must be looked after.