Instant credit for trainees without co-applicants.
The instant loan for trainees is only possible within a narrowly defined framework without a co-applicant. Lending options can come from the Internet. Various traditional methods are also conceivable. The article provides approaches to solving the problem. However, clear restrictions on the loan amount must be expected.
Instant credit for trainees without co-applicants – from the Internet
The instant loan for trainees without a co-applicant would be conceivable from one of the direct banks. Unfortunately, the training salary is sufficient as collateral only in exceptional cases. Anyone who earns less than about 1000 USD / net per month has a problem with the seizure allowances. The loan cannot be approved without additional security.
Trainees in the last year of their apprenticeship who “break” this income limit in industry can still not sit back and relax. Your training contract ends with the journeyman’s examination. This can be followed by unemployment. Therefore, only a loan is eligible, similar to temporary workers, which is repaid before the contract ends.
In addition, the difference between the garnishment-free limit and income serves as the basis for calculating the installment amount. The garnishment exemption limit is currently set at around 980 USD for single people. To put it in figures, whoever earns 1000 USD net can repay 20 USD a month. If 10 monthly installments are still possible before the examination, then the maximum credit volume corresponds to around USD 200.
Traditional options for instant trainee loans
The salary account is the most convenient way to get the instant loan for trainees without a co-applicant in the traditional way. Depending on the account-holding institution, the house bank grants an overdraft facility to anyone who can prove a fixed income from work. A monthly income is automatically granted almost everywhere as an overdraft facility.
If this sum is not enough, the conversation with the customer advisor becomes inevitable. If you can convince him of the ability to repay, you can receive up to two months’ overdraft.
The overdraft facility is increased during the consultation and the money is immediately available. However, the overdraft facility has a very expensive catch. Overdraft rates are extremely expensive. If you can, you should leave the disposition untouched as far as possible. In particular, the increase by the customer advisor can drive interest rates up. Instead of the already expensive around 12 percent, up to 20 percent annual interest may be due for the extraordinary overdraft.
Loan from the payroll office
If the credit request is really inevitable and neither a guarantor nor a co-applicant steps in, there is still an alternative. The path should lead to the pay office. The advance on wages has a long tradition. Apprentices have always been short of cash. So going to the payroll office doesn’t have to be embarrassing.
Especially during the holiday season, many commercial employees get cash from the advance wages. Around a month’s salary is a realistic order of magnitude for the instant loan for trainees without a co-applicant – from the payroll office.