The need for a part-time job loan is great. Sometimes this loan request can simply be satisfied, but the majority of the loan approval is unfortunately a problem. The contribution deals with the credit options for part-time jobbers.
Part-time job credit – victim of reforms
Basically, a credit with a part-time job is nothing unusual. The loan request is checked under the same conditions as any other loan request. In order for it to be met by any ordinary loan provider, few basic credit requirements are necessary.
The borrower must be of legal age and have an unlimited employment relationship. In addition, the trial period must have expired. Of course, the Credit Bureau must not have a negative entry. Up to this point, many part-time workers can meet the requirements of credit institutions.
It only gets difficult with the amount of income. It must be located well above the attachment limit. It is the level of income that makes part-time workers victims of reform.
The garnishment exemption limits are not a hurdle for borrowers who work in higher professional positions. An example of this would be the teaching profession. Depending on the age and the grade reached, half a position on creditworthiness may be sufficient. Finding a loan is easy under these conditions. Every good loan comparison calculator provides many different offers for credit with part-time employment.
Living with precarious employment
The reforms have ensured that around 25 percent of all employees work without being able to finance themselves sufficiently with their income. According to the ARD – Facts – Check from September 03, 2013, it is 24.5 percent. Regardless of the political point of view, this figure does not only indicate subjective poverty.
The number also expresses the number of people who cannot simply go to the bank and take out a loan. It is possible for ordinary banks to grant a small overdraft facility. Beyond this level, it was again the legislature that limited credit options. All systemically important credit institutions are controlled, even to an increasing extent, by the Banking Supervision and soon the Cream Bank. Risk loans that led to the USD crisis should be excluded.
The credit chances for the loan without guarantor despite part-time employment are therefore negligible. The only way out of the credit crunch is through the portals for private lending.
A loan despite part-time employment – so it works
With a low income, the credit opportunities with commercial credit providers are negligible. A credit opportunity for a credit with a part-time job only opens up through a solvent guarantor or as part of department store loans. An alternative credit market has developed outside the system of banks and credit institutions.
A private loan is not classified as systemically important. The control over the credit risk thus lies exclusively with the private donors of the portals. Most of them are small investors who no longer want to debit their “savings egg” on the savings book. Whether a loan with a part-time job is approved depends largely on whether the donors are convinced of the ability to repay it. If they are, then nothing stands in the way of quick loan approval.