The search for ways, if the income for the intended credit is not sufficient. The amount of the family income, as well as a – after deduction of costs – as safe as possible remaining, high household budget increases the chances of getting a loan approved by a bank, savings bank or intermediary.
Because nothing serves the lender in an unsecured loan so much as security as the monthly income.
Calculate free household budget
Depending on the personal budget situation, banks require a different – preferably free – budget when financing a loan. That an income of 3.It is not uncommon for a loan amount of EUR 000 to be insufficient. In the case of a 4-person household, for example, even a good net income may be insufficient, as there would be too little "free budget" available after deducting the monthly installment.
The family income counts
What is family income?? In addition to the main income, the income also includes all other income that exists in the family. Of course, this also includes additional income on the basis of "marginal employment", the so-called 450,- euro mini-job. In addition, all income from commercial activities, a sideline business or income from early retirement, part-time pension, full pension or pension. Rental income also belongs to the income that can be added to the loan.
If monthly income is too low
You have added all available income and still remain below the value, which your bank has set as a minimum for a financing release.
Taking on a part-time job could be the solution to ultimately getting a suitable loan after all. Maybe you could also borrow a part of the loan amount from a relative, but even privately borrowed money has to be paid back.
Low-income earners beware: our partner's affiliated banks require a minimum monthly net income of just 1.300,- €. So we could help also already many low earners.
What other possible solutions there may be?
The question arises, what solutions can now lead to the goal of obtaining the loan after all.
In most cases, naming a solvent guarantor as co-applicant leads to the realization of the hoped-for desired amount. But you should inform yourself about what guarantors should consider when taking out a loan.
A guarantee can cause many problems
Bringing a guarantor on board for financing as a so-called co-applicant also always means that this guarantor is jointly responsible as a "second borrower" for the punctual repayment of the monthly loan repayments. And exactly the same as if he had taken out this loan himself. So if, for whatever reason, the main borrower defaults on the repayment, it's the guarantor's turn.
Bank plays it safe with guarantors
The bank now has two contact persons instead of one, who are responsible for the complete payment of the loan, each of them economically on his own. Which means for bank or savings bank that their risk extremely decreases, because the lent money is now secured by means of double income. So good for the bank!
Tip to guarantees: co-applicants do not have to be relatives. Besides friends or acquaintances, anyone can become a guarantor. However, this requires a fair amount of trust, because if the borrower becomes insolvent, the co-applicant is in demand.
To summarize: community borrowing requires a correspondingly high level of trust. The co-applicant should be clear from the outset, after a total default of the borrower the monthly repayment to have to take over. And in the full amount up to the complete repayment.
For installment loans and financing of all kinds, we recommend our partner bon-kredit, with whom we have had exclusively positive experiences. Already from a net income of 1.300, – € a credit can be requested. Now simply use the following reference to get a particularly fast processing of your request.
Even with bad schufa already from 500, – € the small loan can be requested now. Even with a poor credit rating, you can apply here, because applications are therefore not rejected in principle!