A loan can be required in many life situations. There are many reasons for this, and there are enough occasions when a funding gap simply has to be closed.
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But many people are asking themselves a lot of questions, because with regard to loans, there are some things that do not open up right away. Especially the fact that most loans can be taken up on the Internet today causes uncertainty and unanswered questions. What needs to be considered? Where are the possible stumbling blocks hidden and which conditions in general must the loan seeker fulfill so that he can benefit from the money as well?
Find the right loan
First of all, the loan seeker has to find the right credit for himself and his needs. It depends not only on the amount and the duration, but also the interest, as well as any fees and possibly a compensation for early repayment play a role.
Therefore, all available offers in the network must first be compared to get a complete overview. This can best be done on corresponding comparison pages, because all offers and their conditions are exactly opposite. In this way, a quick overview is guaranteed.
In addition, the provider requires no fees and consumer loans can be obtained here cheap. The maximum loan amount is 65,000 euros and the term can be set up to 120 months. Of course, this depends on the type of loan.
Here, the interest rate is credit-dependent and moves at a maximum up to a value of around 10 percent. With a maximum loan amount of 30,000 euros and a term of up to 84 months, almost all loans can be individually integrated within this framework. Of course, there are also higher sums available, provided proof of creditworthiness can be provided. There are no fees here either.
The preparation for borrowing
First and foremost, all preparations should be made to make it as easy as possible to take out a loan. Of course, it is important to first think about the type of loan. Of course, a car loan has different conditions than a real estate loan. For this the necessary documents must be available. In principle, however, these are the following documents:
- ID card or passport
- Employment contract (depending on the type of loan indefinitely required)
- Bank statements with salary receipt
- a household bill to prove the residential address
- Proof of collateral
For all self-employed, in principle, these documents are added:
- Tax assessments of the last three years
- business registration
- Income surplus bill or bill
All documents should be ready as a digital copy, because with today’s online applications, many things can be handled directly via the Internet.
How is the loan requested?
The application procedure is basically the same for all banks. The online application must be completed in full. This again consists of three parts. The first section lists all personal information. This also includes the ID card number, which will be used to check immediately upon submitting the application.
The second section must give details of the economic situation. Here, the salary and all liabilities to be paid in the month are stated. The difference between the sums then gives the amount available for the loan repayment. In the last section, the information is provided to the employer, because with this the lender can apply for a garnishment, should the lender not meet his payment obligations.
If the application has been sent and the has given a positive response, the credit seeker usually receives the access data to an online area. This is password protected and special designed for him.
Here, the documents described above can be uploaded for review, which avoids the complicated post. Depending on the type of loan, the exam may take an hour or several days. Based on the available documents, the lender then makes a final decision on the awarding of the loan.
The next step is the signing of the loan agreement. This is sent by post in any case, to accelerate the payment of money there are other ways. As a result, the borrower can now identify himself directly on the Internet and does not have to accept the long journey by means of an indent letter.
For this purpose, a webcam connection with a special service provider is established, which consists of identification by means of a pass. The certificate created below then serves as a signature under the digital contract. The original usually follows at intervals of a few days by post.
Depending on the loan, it may take 30 minutes to 14 days for the money to be paid out. Thus, the loan application is completed.
Creditworthiness and collateral
Of course, each credit must be given a certain credit rating so that the bank can grant it. So in the rule a clean without negative entries is required.
However, this hurdle can also be circumvented, because if the borrower can prove a high income and possibly the corresponding collateral in the equivalent of the loan, then we usually forgive the loan despite negative deficiencies. But there are absolute exclusion criteria that completely stand in the way of a loan.
- Entry on judicial debt collection proceedings
- Arrest warrant to enforce the affidavits
In these three points, the granting of a loan is excluded because there are legal regulations in the room that contradict the principle.
Are there alternatives to normal credit?
A loan can also be taken via credit intermediaries. Depending on the type of loan, these usually offer more favorable conditions, especially with regard to interest rates. However, one should also read carefully here, because especially in the case of a loan without credit rating, the interest rates can shoot up significantly. These loans also apply to intermediaries as risk loans, which are hedged accordingly by higher interest rates.
As a further alternative, it is also possible to use a guarantor in the contract with regular banks. However, it must be clear in this connection that the guarantor then has to bear all the risks of the loan. Thus, this is also responsible if payments are not made. This can then lead to salary or property seizures. Therefore, a guarantee contract should be concluded between the guarantor and the loan seeker, which governs all essential details.