Financial income very often decreases when unemployment begins. The expenses that then arise can often only be covered by a personal loan for the unemployed. Unemployed people are increasingly asking whether there is a way to get a personal loan. If you look at a loan for the unemployed, it is nothing more than an installment loan aimed at low-income people. Those who receive a high unemployment benefit usually have no problems getting a personal loan when unemployed. However, since most of the unemployment benefits are very low, most banks refuse a loan for the unemployed. Banks often reject a loan application because the risk of default is too high. The risk that the loan cannot be repaid is simply too high. The bank usually checks whether the payments are below the garnishment limit.
Where can I get a personal loan when unemployed?
The applicant often receives a personal loan when unemployed from private credit intermediaries who specialize in these problem cases. Collateral should be provided to obtain unemployment benefits from the bank. These securities include real estate, valuables or a surety. But you should be careful with real estate. If the loan can no longer be repaid, the property is gone very quickly. You should consider whether a family member who has a fixed income can step in as a surety. In an emergency, the latter can continue to pay the installments.
Who grants a personal loan when unemployed?
If there is no collateral, you should consider carefully whether a personal loan should really be taken out. Special credit intermediaries often grant loans to the unemployed. However, security must also be provided here. A guarantor or co-borrower should be taken, for example, in the case of married couples, it is possible for one of them to bear the cost of living and the other to take on the loan. Another possibility is to get a loan for unemployed from private individuals. Unemployed people can certainly find a lender who is looking for new investment opportunities and promotes good ideas. So grab the chance now get personal loan and have special credits!