If the conditions are right, you get an online loan quickly and easily. If these requirements are not met, the credit check can take a little longer, or it will be more expensive. But there are also opportunities for these target groups to raise money at short notice.
Credit security even with free use
If the loan is needed for a specific purpose, such as a property or a car, personal credit is not a major barrier to loan approval. Of course, the installments must be designed to be paid out of disposable income. If there are financial difficulties, the bank bears little risk. It can be hired on the conclusion of the contract the car as security, and the mortgage loan on a mortgage – mortgage or mortgage – secured. This principle of collateral can also be transferred to loans for free use. The security by a mortgage is applied in the vast majority of cases in real estate financing, but theoretically you can make a trip around the world on credit and offer your home as collateral. Securities that you currently do not want to sell are suitable as collateral, as well as life or annuity policies, for which coverage capital has already been saved in the appropriate amount. Either you pledge the insurance to the bank, or you ask directly from the insurer for a policy loan.
A guarantor is liable for the debts
If you expect problems in assessing your credit rating, but can not provide collateral, a guarantee is a good chance to get credit quickly and easily. When training or student loans often sign the parents as guarantors. If the borrower defaults on payments, the bank will turn to the guarantor. A so-called self-enforceable guarantee is usual. This means that the lender may use the guarantor without first having to sue the principal debtor. The lawyer puts it this way: The guarant waives the plea of prosecution. Of course, from the point of view of the bank, the guarantee only makes sense if the creditworthiness of the guarantor is assessed positively.
Private individuals as lenders
No collateral, no guarantor, and the fast, straightforward loans on the dispo and credit card are already exhausted? Try your luck on peer-to-peer (P2P) credit platforms. Loan seekers who are poorly served in the classic banking system encounter private investors here. For a higher return they are willing to take more risk. Again, there is a credit rating, but negative features are not a knockout criterion. Nobody has money to give away and the interest on P2P loans is comparatively high. But the loan approval is much more flexible and more likely from the gut than a fixed default catalog.