Many consumers work part-time. If a part-time loan is sought, it can sometimes cause problems. Namely, when part- time income is insufficient to properly secure the loan.
What does part time mean?
More and more people work part-time in Germany. Currently, the Federal Statistical Office estimates more than 15 million part-time workers. So workers who have no full-time job and work less hours than the agreed full-time work. When talking about a full-time job, this is an average of 40 hours a week. However, the number of hours may vary depending on the industry.
Above all, employees in the trade and in the catering trade are affected. In addition, more women than men work part-time. This brings advantages as well as disadvantages. On the one hand, part-time gives more time for the family. On the other hand, part-time also reduces income. And this can have a negative effect on, among other things, a part-time loan.
The banks look very carefully, which prerequisites for borrowing are brought by the borrower. An important requirement is a decent income at an appropriate level. It must reach at least the attachment exemption amount. In the best case, this is even clearly exceeded.
How high the seizure tax exemption depends on the borrower’s family situation. A single without maintenance obligations has a lower attachment exemption than a married person who is also liable for three children.
The attachment table can be found out how high the assessment limits are. This is regularly adjusted to the prevailing economic conditions.
Which loans work part time?
There are some loans that work quite well as a part-time loan. These are more about the Credit bureau and the general income than the pure income. There is talk of consumer credit, which many traders and mail order companies nowadays give away.
If you want to finance the new laptop in the technology market, you can do so already with the presentation of an identity card or passport. The seller asks the monthly revenue namely only orally. In addition, they do not necessarily have to exceed the seizure allowance. Therefore, it is possible that even a small income is sufficient to implement the loan part-time.
Similarly easy borrowing can work if your own Dispo is used. As a call-off loan, this can be ready quickly and requires no special application. And who needs only a small installment loan and this takes up at the house bank, can also hope for a loan with part-time. Because the house banks are in this respect usually something spendable than foreign banks.
Our Note: Part-time does not automatically mean that only a very small income is available. There are also many part-time workers who can earn a very high income despite the reduced number of hours.
Part-time credit – improving opportunities
If a simple consumer credit is not enough, you must look for ways to improve it. The low income must be improved so that lending on good terms can be possible.
A guarantor is always the simplest and fastest solution. Is this solvent and has a fixed and high income, everything fits and the loan can be implemented as desired. A residual debt insurance can also be considered.
However, only if the current employment is not limited in time and the conditions for the insurance are fair. It costs a few euros and should present itself in case of a case also positive.