Loan seekers with low incomes
When a bank decides to give a loan to a loan applicant, the credit rating of the applicant plays an important role. The customer’s creditworthiness is reflected in his Schufa information and in his income. The higher the income that the loan seeker can prove and the more respected the professional group in which he works, the better his creditworthiness is rated. A very clear example of this are the civil servants, who alone get loans on much better terms than other consumers simply because of their status in society and their secure good income. The loan seeker’s income must always be above the seizure allowance and, above all, it must be so high that it is sufficient in addition to the normal cost of living and the fixed expenses for rent and energy costs, as well as those that already exist Obligations to repay the expected monthly rate.
For this, the banks make a budget bill. In this, all persons living in the household of the loan seeker are taken into account. The household bill then summarizes all monthly expenses and a lump sum for living expenses is applied to each person. These costs are added and deducted from income, after which the result must be in the so-called “green area” so that the customer gets a loan. For this reason, it is often better from the outset, especially for married couples, if both spouses apply for the loan together, since then the income is also added together and this creates a significantly better picture for the household bill. Loan seekers with low incomes, on the other hand, often have to provide additional collateral before they are granted a loan.
Loan online and have an offer created beforehand
This usually takes the form of a guarantee. The seizure allowance is currently around 985.00 USD for one person. Income from loan seekers who move only briefly above or even below it is not sufficient for a loan, because the bank sees from the start that the income cannot be found and there is therefore no chance if the business becomes distressed to ever get the money back. For this reason, the lending is usually rejected or a guarantee is required. Especially if loan seekers want to apply for a loan online and have an offer created beforehand, they will find that even before the actual check, information about the monthly income and expenses is required for the offer to be created.
This is particularly difficult for the self-employed. They cannot prove regular income and are therefore completely excluded from lending at a large number of banks and credit institutions. The risk here often seems too great to the banks. What a self-employed person can prove are figures from the past in the form of a BWA or a profit and loss account, but they do not guarantee the future. Officials or other respected professional groups have a clear advantage here.