Credit despite trial period – apply for a loan in this situation

 

Every employee has a regular income during the trial period. So why should something stand in the way of a loan? To the detriment of consumers, the trial period is usually not a guarantee of long-term employment for the bank.

Neither the applicant nor the bank knows whether a permanent job will take place. If the bank approved a loan despite the probationary period, the risk of capital loss would be extremely high. Anyone wishing to apply for a loan in this situation should be able to provide the bank with as much collateral as possible.

Comprehensive coverage of the loan

Comprehensive coverage of the loan

Various factors can have a positive impact on a loan despite a probationary period. For example, naming a guarantor who is committed to paying a due rate in the event of late payment can be a fundamental benefit. Of course, its creditworthiness will also be checked. Another option is the submission of documents proving the corresponding amount of fixed assets. The bank can access these assets if a payment is not made.

Alternatives to credit institutions

Alternatives to credit institutions

If a loan is the last resort despite the trial period, the potential borrower can take out a so-called merchandise loan. As a rule, these are small loan amounts that enable the purchase of a certain commodity. Security deposits and the amount of income are irrelevant, since the truth only becomes the property of the consumer once it has been paid in full. Banks offer a credit facility for this model, which, however, entails considerable interest expenses.

Lending is an exceptional case

Lending is an exceptional case

The granting of a loan despite a trial period is and remains an exceptional case! Despite the high probability of a takeover, it is not a final commitment from the employer. The bank must assume the “worst”. Therefore, naming a guarantor is the best way to get the loan in the desired amount. This must be outside the trial period and be able to demonstrate regular income.

If you find yourself saying, “I need money NOW!”, trust me. You’re not alone. If your bank account is empty and your credit cards are maxed out, what are you to do? The good news is, there are plenty of ways to get cash in your pocket in the next 24 hours. They may not all be glamorous, but you could rely on these methods in a pinch.

We are here to help. Let us hear from you about any financial needs.

Credit for young professionals

 

 

Newcomers are just starting to work and a new phase in their lives is beginning. You will receive the first money you have earned and can already fulfill some of your wishes. At the beginning the salary is not very high, so larger purchases have to wait.

A driver’s license, your own car and an apartment cost money, not all of which can be paid from the salary. For this, young people have to save for a long time. There is a way out with the loan for young professionals. These are quickly assigned nowadays, but a few things should be considered.

Where the loan can be taken out

Where the loan can be taken out

The loan for young professionals can be taken out at your own house bank, at other credit institutions or at direct banks. The creditworthiness is particularly checked for young professionals, because it is not uncommon for applicants to be very young. You need to be able to meet certain criteria to get this loan. If the applicant is not of legal age, the parent or guardian must always sign the loan agreement.

In addition, the bank requires the employment contract, bank statements and consent that the credit may be examined. As long as the contract of employment runs, the term of the loan will also run. The income, or the amount that remains at the end of the month, is also decisive for the loan amount. For example, a career starter can expect to get a small loan. The loan amount for these loans is between 500 dollars and 2,000 dollars.

What should be considered?

What should be considered?What should be considered?

Young professionals should make sure that the annual percentage rate is not too high, because that would mean that the loan would be expensive. A credit comparison would make sense, because a lot of interest can be saved here.

If you already have a bad entry in the credit checker, you should always bring other security with you for the loan for young professionals. A surety would be the best choice, because then the bank has a second borrower who can hedge it.

Home Furnishing Loan – how to get it?

If you move out of the so-called “Hotel Mama”, there is a lot to do after the successful search for an apartment. But not only the preparations and the relocation work are associated with a lot of work. But the whole thing usually costs a lot of time and energy.

In addition, there is usually a not inconsiderable cost involved. For example, for the moving costs, the purchase of new furniture and decorative items and so on. And this is far from all. But how should such a cost effort be managed when the financial means – for whatever reason – are not particularly well off?

Skillfully apply the red pencil

Skillfully apply the red pencil

If the budget currently available does not provide what would be required to finance the new home furnishings, debt capital is a sensible and promising solution. Anyone who has the chance to get it from friends, acquaintances or family is well advised. But you are not always lucky enough to have a helpful “financier” in the social environment. It is all the better under these conditions if you get an attractively priced loan for home furnishings.

Of course, according to many consumers, the first point of contact when it comes to a home furnishing loan is the friendly local bank clerk. However, as experience has shown time and time again, it is also an advantage if you are willing to look beyond the famous “bigger picture”. The fact is that at the branch bank it is not only the variety of offers that leaves much to be desired in terms of the desired loan for home furnishings.

But often it turns out – but only afterwards – that the loan for home furnishings could have been obtained elsewhere at considerably more favorable terms. And so the solution with regard to the loan for home furnishings is clearly obvious: It is always advisable to search the world wide web for adequate loan options. However, it should be noted in this connection that you should go to work with the greatest care and a red pencil.

Those who can count have a clear advantage

Those who can count have a clear advantage

It is worth knowing that, depending on the provider, a loan to cover the costs of purchasing the new home furnishings can, on the one hand, score with attractive interest rates. However, it is still worth taking a look behind the scenes. It is therefore essential to check the administrative expenses, the repayment costs and the flexibility regarding the loan term. If, for example, the latter are designed to be too short-term, the amount of the monthly installments to be paid increases automatically.

It is therefore important to calculate in advance how far this corresponds to the individual financial options. Not to forget the possible costs in the event of early loan repayment. After all, many banks and credit institutions often have to pay dearly for this.

All in all, it does no harm to have the online loans in question cross-checked by a trusted specialist. True to the motto: “Four eyes see more than two”, many prospective creditors have been able to get a loan for home furnishings at extremely interesting conditions.

Loan to agency workers

A loan for agency workers is not that easy to manage. A temporary worker cannot have a license from the banks and that is a permanent job. In most cases, the agency worker has a fixed-term contract.

Depending on the order situation of a company, the agency workers are the first to be dismissed. These are not particularly good prospects for a loan for temporary workers.

The loan for a agency worker – the prospects

The loan for a agency worker - the prospects

When banks approve loans, they want to see collateral. On the one hand there are the income, the permanent job and the clean credit score.If these criteria are met, a loan for temporary workers is also approved. From the point of view of a temporary worker, he must be able to provide other collateral such as income in order to get a loan for a temporary worker.

The bank sees a temporary worker at the level as a person with a temporary job. If the bank approves a loan, it must be paid by the end of the employment relationship. However, if a temporary worker can provide permanent employment, lending is the same as for all other borrowers. In such a case, the term can also be extended.

However, in order for a real credit opportunity to arise, the agency worker should be able to name a second borrower or a guarantor. Both people must be solvent, their income must be high enough and the credit score must be clean. A permanent job is required. Co-applicants and guarantors will be able to provide the necessary credit security. The income of the guarantor has a separate calculation, the income of the co-applicant is added to the income of the agency worker.

The guarantor and co-applicant must have a solvency that allows the installments to be paid if the temporary worker fails. For this reason, the bank carefully examines the two credit safeguards.

The disposition

The disposition

An optimal credit situation also results if the agency worker is married and the partner is employed and has an income. Applying for the loan so the chances are good. In general, the agency worker can assume that if he applies for a loan alone and has a temporary employment contract, he will not get a loan without a second borrower or guarantor. How the situation of the credit protection must look like is already described before.

Banks often also provide overdraft facilities to a loan seeker. If a credit line already exists, some banks agree to increase it. A disposition is suitable for short-term claims. If, for example, particularly urgent bills are to be paid and the account is empty. Then the overdraft facility can be helpful without causing major financial damage.

But whoever uses his overdraft facility for a long time, even beyond the credit line, comes with the debit interest and the interest that the bank calculates for overdrafting the credit line to a whopping 18%. No one would accept a loan with these high interest rates. But once you are in financial distress, many people accept a lot and the banks also know that and long over there.

The overdraft facility is an expensive loan that is easy to apply for and easy to use. Available for short-term use only. It should be balanced again after a few months at the latest. Quite a few people have fallen into a debt trap as a result of the overdraft facility.

The car loan and the credit score-free loan

The car loan and the credit score-free loan

A temporary worker also needs a car to drive to work. Sometimes there is no other connection to the remote construction sites than your own car. Here, the agency worker is advised to contact a car bank.

The requirements for a car loan are not so strict there. The vehicle letter is deposited with the bank as security, which has such security. If a down payment of at least 20% can be made, the car bank also sees this as security.

But what if the agency worker wants a loan for agency workers and there is a bad credit score. Borrowers who have sufficient income despite the poor credit score can get a credit score-free loan from abroad. The foreign banks require a sufficiently high income from a self-employed activity and a permanent job.

However, the agency worker cannot offer this and is also excluded from the credit score-free loans. Unless he applies for the loan with a second borrower who has a permanent job. Then the loan for a temporary worker looks positive again. credit score-free loans can only be obtained if the borrower has a permanent position, and this is unfortunately not the case for temporary workers.

The policy loan

The policy loan

In addition to the above-mentioned persons, other credit safeguards for a loan for a temporary worker can also be recognized. Think of a property or a loanable life insurance policy. Regarding the insurance, it should be mentioned that this insurance can also be loaned.

The loan is called a policy loan and the agency worker can, if the insurance company has a surrender value, to lend it. He pays the value back to the insurance company in small contributions. The bank has the insurance as security and the loan is available. However, the surrender value must already be 5,000 dollars high.

In summary, a loan for agency workers is not easy to obtain. If the necessary security can be provided, the situation is usually positive. If the agency worker then has the required credit rating, a loan is also approved. Especially in view of the fact that there are also temporary workers who work in a temporary agency, but can present an unlimited employment contract. Then a temporary worker, like other borrowers, can get a loan with the appropriate credit rating.