The good news right from the start: loans without a guarantee for the unemployed are possible. However, they are not as easy to approve as they are as simple as an official loan. Restrictions and overcome problems can be expected.
Loans without guarantor for the unemployed – can be approved if …
Not every unemployment rate is assessed according to the same standards. In the weather-dependent industry, regular short-term unemployment is part of the job. No roofer can run like a quick squirrel over pointed roofs in snow and ice. The risk of an accident would be far too great. A bricklayer would not succeed in ground frost. During the cold season, unemployment is therefore inevitable in many trades. This is not a problem for the bank.
As sure as unemployment in winter, re-employment in spring and overtime in summer are as certain. A loan, be it as overdraft facility or installment loan, is therefore rarely a problem for the “men from construction”. If necessary, if the account is already too much in the red, then a property security is usually sufficient to secure credit.
Loans can only be approved if …
Unemployed people whose next job is not just waiting for better weather can continue to use credit to a limited extent. The house bank usually leaves the usual overdraft facility with ALG 1. Installment loans can unfortunately no longer be taken out without guarantee. Loans without guarantor for the unemployed are only possible as installment loans with a very short term and limited credit volume. In addition, the ALG 1 income must not be too low. The attachment exemption limits should be exceeded by this benefit.
In case of doubt, the clerk can request additional credit protection. An unencumbered real asset, for example the vehicle letter of the paid vehicle, is almost always sufficient. The maximum repayment period is related to the remaining duration of ALG 1. The loan must be paid no later than the day it could become ALG 2. With ALG 1, even without a specific job perspective, the credits of the senders remain possible. A clean Schufa and proof of income are almost always sufficient for this.
There are hardly any credit options for the unemployed if …
The chances of getting loans for unemployed people without guaranties expire with the transition to ALG 2. In addition, the disposition can no longer be considered. Without guarantor, with ALG 2 no one is creditworthy at a normal financial institution within the relevant framework.
Larger savings and other possible loan collateral can also no longer secure a loan. Before receiving ALG 2, savings must be released and spent above a modest framework. Only then will ALG 2 be paid. Loans without guarantor for the unemployed can then only come from the pawnbroker or social institutions.