Loan for marginal employees

Why not put some more money in your account for your extra needs or as a financial buffer.

Even with a small income

Even with a small income

  • Start your credit request now (this does not result in a contract).
  • After checking your request, the money will be in your account after 4 days.
  • All you have to do is accept our offer. If not, then not. No catch, no upfront costs.

A loan for marginally employed people does not have to remain a pious wish. Nevertheless, there are only very limited credit opportunities. The contribution deals with the possibilities that can be used, requirements and restrictions.

Loans for marginalized workers – when is it easy to lend?

Loans for marginalized workers - when is it easy to lend?

The loan for marginally employed people, or popularly credit for mini-jobbers, can easily be granted. The prerequisite for this: marginal employment is only a sideline and is not practiced on an independent basis. In this case, the focus for lending is initially on the main income. If it already clearly exceeds the garnishment exemption limit, a loan could only be applied for with this income.

In this case, the additional income could even disappear or be used to improve creditworthiness. For example, income could have a positive impact on the credit-related interest rate. Practically all credit opportunities offered on the credit market can be easily used under these conditions.

A loan with poorer income

A loan with poorer income

The main income is not always suitable to jump over the attachment limits. Particularly with families with several children and the main earner, creditworthiness problems can arise. In this case, it is the additional income that can create creditworthiness in the first place. The loan for marginally employed people with insufficient main income does not necessarily have to be made possible by the main earner alone. For married couples, the common income can be taken as a basis. Here is an example:

The net income of the main earner with three dependent persons is 1,879.99 euros. This would make the income in accordance with Section 850c of the Code of Civil Procedure (ZPO) (as of 01.07.2013) attachable. A dependent has a 400 USD job. Both jointly submit the loan application. The income from the sideline is now added to the main income. With a net income of 2279.99, the family now clearly exceeds the tie-in threshold. In turn, credit is possible for all potential lenders.

In the aforementioned constellation, you should still look for offers that are independent of creditworthiness. If two earnings have to be combined in order to prove creditworthiness, this means a risk for the lender. Interest rate offers that depend on creditworthiness react with clear risk premiums.

Credit as a 400 USD jobber

credit and money

Just wanting to derive creditworthiness from the income of a low earner is not possible. Nevertheless, “normal” credit channels can still be used. There are opportunities for credit approval if a solvent guarantor or high-quality property security enters into credit liability. Most credit institutions prefer the guarantee. If there are repayment problems, it is easy to collect the debt from the guarantor. The realization of property security is often associated with a significant additional effort for the lender.

Even without collateral, the loan request for low-income earners does not necessarily have to remain unfulfilled. However, the normal credit route via banks and savings banks must be abandoned. It is still possible to present the loan request to private donors. Various portals for personal loans offer the possibility. In a very modest framework, the loan can be approved for marginally employed people. Whether it really works is a question of the loan amount, some luck and a well-presented loan request.

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