My WordPress Blog Mon, 08 Apr 2019 14:33:56 +0000 en-US hourly 1 Loans without security Mon, 08 Apr 2019 14:33:56 +0000

In the case of collateral for a loan granted, a distinction must be made between the specialist language of the banks and the colloquial language; in the communication with private customers, credit institutions often use the colloquial vocabulary. Collateral in the narrower sense is possessions of the borrower assigned to a bank, while in a broader sense this also includes the expected salary and the previous behavior in borrowing.

The borrowing without collateral in the sense of the banking language


When using the technical language definition, the loan is the default case without security. The provision of explicit collateral is largely uncommon for commercial loans, but does not apply to lending to consumers. The only two significant exceptions are car loans and real estate loans. In these cases, a loan is granted on condition that the customer assigns the vehicle to be financed to the bank in full until full repayment, or that the mortgage lending is entered in the land register as a mortgage.

Income from labor as a basis for awarding a consumer loan not tied to the specific purpose of use does not alter the fact that it is a loan without collateral in the technical sense, especially since the lender can not influence a possible termination of the employment relationship.

Borrowing without collateral in the colloquial sense

In colloquial terms, lending is considered as a loan without collateral, in which the customary bank criteria for the probability of a duly repaying are not fully met. This is usually the case for fixed-term employment contracts, unless the loan is repaid within the appropriate period. Furthermore, an income is classically only considered to be a sufficient substitute for collateral if it is higher than the exemption amount.

The accounts for some claimants, such as young people still living with their parents, show that even a low income is sufficient for lending because of the large cost of housing; However, if the repayment is not made properly, the bank can not undertake any seizure of wages, since the minimum amount of the seizure waiver is not reduced because of benefits received in kind. If a guarantor is provided, lending is no longer a loan without collateral because the guarantee is considered a classic form of collateral. The most easily accessible loan with no security at traditional financial institutions is the instant loan with no proof of income.

The loan applicant must, of course, provide honest information about the total amount of his income, but the bank can not differentiate it from the relatively secure income from the main employment contract and any additional income from supplementary employment. As an alternative to bank credit, a loan can be taken without security via a private loan mediation website. Many of the lenders registered there pay less attention to existing collateral when making their award decisions than to whether they want to support the specified purpose of the loan.

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Car loan for civil servants Tue, 02 Apr 2019 13:47:56 +0000

There are a variety of different credit models available on the market. Often, the purpose determines which loan is possible and most favorable. Among other things, banks distinguish between the following loans:

  1. Auto loans
  2. real estate loans
  3. consumer loans
  4. Mail order loans
  5. renovation loan

What costs do you have to pay attention to when making a comparison?

In addition to the interest rate, borrowing may incur additional costs, which you must include in your calculation. For example, there may be processing fees that are payable once. The amount varies from bank to bank and the differences are sometimes very large. Many banks also offer the option of taking out a residual debt insurance. This is mandatory for some contracts, not for other degrees. Such insurance secures the installment payment if the policyholder becomes unemployed, incapacitated or unable to make monthly payments for similar reasons.

Auto loans

Auto loans

Automobile loans are taken out for the financing of motor vehicles and can be concluded through the dealership or its affiliated bank. Here it is best if the buyers are guided by the actions. Often, interest-free loans or loans are offered on favorable terms for a specified period. Information about the respective offers can be found in advertising and banner ads. You can also ask directly at various car dealerships and specifically inquire about such promotions.

Real estate loans

Real estate loans

If you want to buy a house or apartment, then it is advisable to talk to your own house bank first. Here customers usually receive the cheapest contracts. In a comparison, the duration of all offers must be the same. The shorter the term, the cheaper the costs. The house or the apartment is usually used as security, a deposit then leads again to more favorable conditions. An equity capital performance of around 20 percent is recommended.

Consumer loans, mail-order loans and renovation loans

For mail-order loans, you are bound to the respective supplier. The interest rates depend very much on the term. Consumer loans and renovation loans can be taken out at banks. A comparison is worthwhile. Interest rates on these loans are often slightly higher than on other types of loans, as there are no collateral, such as auto loans or real estate loans.


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Cash loan experiences Wed, 27 Mar 2019 14:36:12 +0000
  • Start your loan request now (there is no contract yet).
  • After checking your request, the money is already in your account after 4 days.
  • You just have to accept our offer. If not, then not. No hook, no cost.

Every day, thousands of consumers ask the banks and savings banks in our country about a loan. They submit the relevant applications and hope that they will be granted as soon as possible. In many cases, this wish can also be met, since the persons involved have a good credit rating, which justifies the borrowing.


In other cases, however, a rejection of the loan application must be made. The requirements of the borrowers are simply too bad, around which a smooth repayment of the borrowed money can take place. The banks therefore always opt for a bad credit rating for a rejection and can usually reasonably justify this decision.

But taking credit is not just about having good or bad credit. It is also about what kind of credit should be taken and how the payout should take place. Most borrowers opt for a payout on the account. Others prefer a cash payment.

What cash advance experience is there?

What cash advance experience is there?

A cash advance is therefore not necessarily standard with the banks and savings banks and is not always forgiven. Banks want the money from the loan always to be transferred to an account so they can see that the given account is working and they have a reference account for repayment.

Many cash advance experiences are therefore rather sobering, as the search for a suitable cash advance can be quite tedious. The easiest way to take this is still at your own house bank. The cash advance experience shows that the house bank does not insist so much on a transfer to an account, as it knows the account of the borrower and can use this automatically as a reference account.

According to cash credit experience, small loans are also much easier to borrow than cash advance loans than loans with a large loan amount. By contrast, consumer loans and other earmarked loans are not suitable as a cash advance at all. In these loans, the money is not paid at all, but flows directly into the purchase.

Our tip: If you are looking for a cash advance, you should first look around and check which bank really provides such a loan. You can not rely on advertising in this regard. Afterwards it should be considered, why a cash advance is required and if it would not be better to do without it. Because the bank always wants the indication of an account. No matter if you have the money transferred or not. So you could also use a conventional loan and withdraw the money after paying the account. This saves a lot of time in the search and sometimes also costs, as a cash advance gladly once has a higher effective interest rate than a conventional installment loan.


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Loans despite parental benefit Sun, 03 Mar 2019 15:17:00 +0000

 Parents experience an exciting time with their children. The newborn turns the whole day’s plan upside down and there is much to do and get. The nursery has to be set up, clothes and food have to be bought and the current bills have to be paid.

Since there is no salary during parental leave, it is difficult to buy and pay for everything at once. Not infrequently then have to be cut and some bills can not be paid. So that it does not come so far, a loan can be taken up despite parental allowance. However, parents have to be aware of this before applying to the bank of their choice. Anyone who is rejected will receive an entry in the Schufa. So everyone should be sufficiently informed and prepared in advance.

When will the loan be granted and when not?

When will the loan be granted and when not?

For parents it is not always easy to get a loan despite parental allowance. This is often due to the lack of creditworthiness that parents often do not own at this time. If a salary is lost, the monthly income is much lower than before parental leave. Who sets up a budget, will quickly see how much money is left at the end of the month. For some parents, there is nothing left, so there is no money for the installments that have to be paid monthly for the loan.

Here, an application is often rejected by the bank. However, who as an individual already has a very good salary, which is far above the seizure allowance, can hope with good chances for a loan despite parental allowance. The better the credit rating, the higher the sum of the loan can be.

Poor credit – provide collateral


If you have a bad credit rating and therefore an application could be rejected, you should get collateral on your side. A bank guarantee is often the best alternative to improve your credit rating so that it will come to a loan despite parental benefit. A guarantor may be an acquaintance or a family member. A guarantee is a bad credit security for the bank, because then it can assume that the loan will be repaid in any case. For a person to be able to assume a guarantee, he must follow the bank’s guidelines.

Without fulfilling these requirements, the person is not used as a guarantor. Thus, a secure income must be available, which comes from a non-independent activity and a permanent employment contract exists. The creditworthiness must be given, which means that there must be no negative entries in the Schufa. In addition, the guarantor must be of age to be able to assume a guaranty.


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Loan for temporary workers Sat, 16 Feb 2019 15:16:44 +0000

Temporary workers have a hard time not only on the job market, but also in the credit world. They have no permanent work and are hired at different companies at short notice. Either they are taken over by the company, they have to look for another employer or they become unemployed. This circumstance does not exactly make banks happy when it comes to loan for agency workers.

Why is it so hard to get a loan?

Why is it so hard to get a loan?

Temporary workers have an increased risk of becoming unemployed. Nobody knows how long the temporary worker will be employed in the company. This can be a few weeks or a few months. As soon as there is no new client, the temporary worker slips into unemployment. In addition, temporary workers often earn much less than permanent employees. Thus, the income per month is very low. Both factors are responsible for banks reluctant to lend to temporary workers.

Borrowing requires a fixed salary. This must not fall below the minimum rate, so it must be attachable. Banks like to see a loan contract that is indefinite. In some cases, they also grant loans with a fixed-term contract, but here the salary often complies with the conditions.

Contract workers who are interested in a loan will often face closed doors. Banks take no chances in lending. When they realize that repayment is in jeopardy, they often reject an application. However, the temporary worker can do something to ensure that he still gets a loan for temporary workers.

Preparation for the loan for temporary workers

Preparation for the loan for temporary workers

In order to obtain a loan for temporary workers, precautions must be taken. Since the profession itself already carries a high credit default risk, this risk must be minimized. Banks like to see a spur on customers with a bad credit rating. This is very often asked and offers people with a bad credit the chance to get a loan.

The guarantor is used whenever the repayment is in danger. This must secure the credit with his income. This means that he has a seizable income that can be used if the borrower can not pay the installments. He serves, so to speak, as the second borrower who receives nothing from the loan amount. If the claimant does not pay a rate, the guarantor’s money will automatically be used.

In addition, the agency worker can opt for a small loan amount. If, for example, he only needs 1,000 euros, the bank can assume that the term is very low. The loan can be redeemed within a few months. If the temporary worker is employed on a fixed-term contract of half a year, he may offer the bank to repay the loan within that half year. The salary is secured in time and repayment can thus be guaranteed.

Are alternatives to the house bank recommended?

Certainly there will be alternatives to the house bank to take out a loan for temporary workers. But are these also recommended? Looking at the offers from the internet, it looks easy to get a loan. That may be, but what about the costs? Not infrequently, interest rates are much higher for private providers than for the house bank.

This means that the loan automatically becomes more expensive. Anyone who already earns little money will find it difficult to pay off an expensive loan. All fixed costs must be deducted from the salary. If you already have a bottleneck here, you will not be able to pay off a loan with high interest rates. With high interest rates, the repayment rate increases monthly and everyone has to decide for themselves whether he can afford it.

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Apply for a Payday Loan Online Wed, 16 Jan 2019 21:30:23 +0000


A whole range of reasons can lead to the desire for a loan. A discount campaign in the electrical market can lead to the need for some cash very quickly. The own current account has slipped into the red numbers and the lending rates are cheaper than the fees for the overdrawn account management. In some cases, the loan amount is used for a renovation or for the purchase of a new car. Nobody has to shy away from applying for a loan.


Everybody can get into the situation, urgently needing money. This can be due to an invoice that needs to be settled, but also a planned house construction or a new car can often not be financed completely from own capital. Nowadays, taking out a loan is no longer a problem – especially online, this is particularly convenient.


Apply for a payday loan online – what you should know

Apply for a payday loan online - what you should know

Applying for a loan online has many advantages: while in your area you could only contact the branch network of the local banks for a loan, the choice of banks on the Internet is obviously much higher . In this way you have the opportunity to select the best deals, so that the loan is not too expensive a matter – it is important to compare before.

The biggest difference between a loan with a branch bank and an online payday loan is clearly the price: Although there are often the same loan products for banks that are both represented on the Internet, as well as a branch network, the conditions are not uncommon in the network much cheaper . This is particularly evident when looking at interest rates. The branch bank certainly offers the advantage of a personal consultation, but also banks on the Internet usually offer customer service – be it by phone, by e-mail or by post.

Thus it turns out: An online payday loan can save a lot of money.

In terms of benefits, an online payday loan is the same as a normal loan. The agreed loan amount is paid out to his account after a successful application to the borrower – who then pays back the repayment installments monthly.


Many advantages for customers: This is how the application for an online payday loan expires

online request

Applying for a loan is almost the same for a online payday loan as it is for a bank branch loan. However, all forms are filled out on the website and then sent electronically to the bank. It is important, of course, to provide all data truthfully and completely, otherwise there may be legal difficulties afterwards. Also, the online payday loan requires a credit check to get the loan granted. Because, of course, online banks have an interest in getting their money back – so it must be ensured that the borrower is also solvent, because he has a regular income. In the case of a positive examination, the applicant will usually receive a decision within a few days and will shortly thereafter receive the desired loan amount as a payment to the account.


Interest rate, payout, account, comparisons & Co. – what should customers pay attention to when applying?

Basically, it is particularly important for an online payday loan to pay attention to the seriousness of a bank. Find out in advance for verified providers and do not get involved in expensive processing fees – these are not required at many banks and fall, if at all, only when the loan amount has been granted. A good indication of seriousness are test seals such as the Stiftung Warentest. It is also advisable, before concluding a loan agreement, to carry out a comprehensive comparison of various providers in order to find the cheapest offer. Both the interest rate and the payment method to the account as well as the term and other conditions play a major role.


Smart to take a loan – Step 1

Smart to take a loan - Step 1

Of course, the comparison comes before the actual application. This can be done very quickly and comfortably by means of a loan calculator and a few button presses. Such a credit calculator can be found on . However, it is indispensable to assess your own credit rating roughly and honestly . For this the following questions have to be answered individually.

  • What other debts still exist?
  • Have loans been delayed in the past paid back?
  • Which monthly, fixed income can be proven?
  • Which monthly expenses are related to income (rent, alimony, etc.)?
  • What assets are available to existing debts (condominium, land, etc.)?

If there is a plus sign in front of a large number of replies, then the credit rating should be rated as good and the advertised low interest rates should be within the possible range. If the situation looks rather bad, the borrower should rather look for offers with credit-independent interest rates.


Key information for the loan application – step 2

Key information for the loan application - step 2

Some questions are guaranteed by the direct bank . Some of them are easy to answer and others can be prepared by the applicant accordingly. The top direct banks are no longer processing fees and so the requested amount is paid without a reduction. So it does not have to be applied for a slightly higher sum, as with many a house bank, in order to finally receive the desired amount for the financing. Furthermore, the monthly installments or the term should be planned carefully. Here again some important questions help, so that the credit can be taken up with sufficient preparation.


  • What is the monthly salary?
  • How much can be saved in terms of monthly expenses?
  • What amount has been saved monthly so far?
  • Which financial cushion must be planned for additional expenses (refrigerator, washing machine, etc.)?


-Request-put online

Honest answering these questions should lead to the ideal repayment rate. According to this amount, the term for the loan must be adjusted. The personal details do not require any preparation, but the most important documents should be available so that certain information does not have to be corrected afterwards. If there is less salary on the pay slips than was first asserted, then this creates a dubious impression. The following documents are absolutely indispensable:


  • Proof of identity (identity card, passport or driver’s license)
  • Proof of residence (registration form etc.)
  • Proof of income (salary statements for the last 3 months)
  • Proof of additional information (real estate assets, additional income, etc.)


The contact is made – step 3

The contact is made - step 3

Once the online forms have been sent, the review process begins on the bank’s side. In most cases, a bank advisor will contact you to discuss issues that are not settled. The actual confirmation or loan commitment can then come via SMS or e-mail. It may happen that the interest rates are set slightly higher or additional documents have to be sent. But with that, the loan application is actually done and the loan amount can be added to the desired purpose.


Small differences in the loan application

Small differences in the loan application

We have now outlined the steps for taking out a installment loan or instant loan from a direct bank. There may be slight differences with other financial institutions. For example, online lenders usually rely on ratings from external agencies to assess their creditworthiness. No documents have to be submitted to your own house bank, as all data is already known. The approval usually takes a little longer, because the four-eyes principle applies.

The loan application for the self-employed can usually only be done through the house bank. Unless the possibility of peer-to-peer loans is used. There, identical documents must be submitted as in the application described above. The difference is that the loan is tendered on a kind of “bulletin board” and private investors can respond to this general credit request. So, the response time varies considerably and there must be some more self-marketing operated while receiving to get a loan from individuals.

In the main features, however, each application for credit will follow the pattern presented, and the debtor should always ask himself the questions he has asked in order to prepare himself well for this step and the conversation with banks or private individuals. Then nothing should stand in the way of the hoped-for funding blessing.


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Business Payment Guarantee of a Promotion Operation Wed, 09 Jan 2019 21:36:59 +0000

Financial guarantee

Often neglected by building contractors, the GPE is nevertheless an important financial guarantee for the development of a property development operation. It is part of the market guarantees and financial guarantee put in place to guarantee an operation. The GPE is perceived as an insurance to guarantee the payment of companies and subcontractors participating in the act of construction. Still called guarantee in case of pay default, it promotes the establishment of good commercial relations between the various stakeholders. But what are its obligations and how does it work? This article gives you some details.

What is a business payment guarantee?

What is the Business Payment Guarantee?

GPE is a public security bond provided by the contracting authority under a works contract. It is used to guarantee the remuneration of contractors selected for a contract (or contract of hire ) in case of financial failure of the promoter of the operation. It is established through a bank or an insurance company which will forward it to the company receiving the guarantee.

This deposit also allows the client to ensure the smooth running of the work on his site. Implemented for more than two decades, it applies mainly to all specific works contracts. Several private actors are required to respect this guarantee. These are commercial enterprises, private real estate companies, banks, insurance companies, traders, lawyers, etc. We also find individuals asking for a loan to finance their work.

However, it does not apply to the promoter financing the work with a loan, which the company collects directly from the financial institution. Also, are not concerned by the said law the SEM (semi-public companies) realizing housing for social purpose and the companies of HLM and other social housing.


What are the obligations of this guarantee?

What are the obligations of this guarantee?

The Business Payment Guarantee is mandatory, but often set aside by companies. However, if entrepreneurs are paid directly, it is no longer necessary. It is provided to architects before they start work. If after starting the work, they have not received this payment, they can stop everything. But before, they must have sent a letter of formal notice to the building owner, 15 days in advance. If after 6 months there has been no action on the part of the promoter, the company may terminate the contract. The termination will be done to the damages of the owner. The company has the opportunity to make a request to the court to order the promoter to give the guarantee under duress.


What is its regulatory context?

GPE is a legal obligation. It was created by article 1799-1 of the civil code and the law no 94-475 of June 10th, 1994. The device 1799-1 of the Civil Code requires that the promoter guarantee the payment of the sums due to the entrepreneur and this , when the price of the works exceeds a sum fixed at 12.000 euros HT (decree no99-658 of July 30, 1999). More than 90 court decisions relating to this guarantee are favorable to entrepreneurs.

The case law attests the public order nature of this guarantee. A decision of principle of the Court of Cassation of December 1, 2004 gave more weight to this imposition. Thus, companies and the client are required to comply with Article 1799-1 of the Civil Code.

The guarantee being of public order, the two parties can not break this law by private agreements. The promoter must automatically pay the guarantee, even if it is not stipulated anywhere in the contract. The contractor also has the right to claim it during the completion of the contract. He will not need to send a letter of formal notice until he respects it.


How does this warranty work?

How does this warranty work?

It works in various forms:

  • If it is a specific credit for the financing of the works, it is paid directly to the entrepreneur via a bank.
  • It takes the form of a bond, if the promoter has not resorted to a loan. It may be a mortgage or consignment. It is the same if the loan is partial.

The bond is not considered as a guarantee, but a deposit. Its cost is borne by the client as well as the GFA .

The Company Payment Guarantee is advantageous for both the site developer and the works contractors. It allows the sponsor to enter secure markets more easily. It is a preventive tool for architects to avoid late payments and is mandatory, even if not all companies use it.


How to set up a business payment guarantee?

How to set up a business payment guarantee?

This guarantee is put in place in conjunction with a GFA and in addition. It is usually in the security risk carrier for the GFA, which will establish the guarantee as part of an operation in off-plan .


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