Some people find it particularly difficult if they only have a job as a temporary worker. The money is very tight and often is not enough when additional bills have to be paid. Banks often lend but often exclude temporary workers.
This has different reasons, because banks are careful that they earn money with the lending, which they receive back with interest. The interest is the amount the bank earns and hardly any exceptions are made here.
For temporary workers often no credit
Anyone who wants to apply for a loan with a temporary employment contract is often rejected by the banks. That has different reasons. For one, a temporary worker often does not earn enough money to cover the loan. On the other hand, temporary workers often have only a temporary contract, so the future is not secure.
These factors often cause banks to reject a loan on a temporary employment contract because they are too risky. Banks want to make sure they get the loan back. This can not be guaranteed often with this group of people.
Temporary workers often do not stay as if trying to improve their own creditworthiness. For example, banks accept a guarantee. If the temporary worker is able to procure a guarantor who has a fixed income, which is above the seizure allowance and can also prove a good Schufa, a loan with a temporary employment contract can often be taken in the form of a small loan. However, finding a guarantor is not easy, because he also takes a risk with his signature for the loan.
He must always, as soon as the real lender can not pay the installments, jump in for the loan. So if you can not find a person who enters into a guarantee, you can try to deposit or lend his life insurance either as collateral. If it is to serve as collateral, it must have a high repurchase value that is at least as high as the amount borrowed. An insurance is only possible through the insurance company. These do not always agree, but a try would be worth it.
No collateral available – what to do?
If you can not offer the bank any collateral, there will not be much left to get money. One last option would be to find a lender in a private environment who lends a small sum. This can be your own family, friends or private individuals who offer such a loan on the internet. It should always be kept in mind that these loans often have a high interest rate and the credit becomes unnecessarily expensive. It should be carefully considered whether this step is really worthwhile.