The credit despite short-time work is a very topical issue, as there are currently a large number of employees working on short-time work. In short-time work you do not get the regular salary that you are entitled to. This means that the short-time worker has to make do with less money for weeks or even months.
However, his expenses remain the same because the rent is debited as usual and life insurance continues. If the financial situation becomes too precarious, many opt for a loan despite short-time work.
Borrowing possible under conditions
A loan despite short-time work can be taken out if the income is high enough to pay all living expenses and the installments. If someone is on short-time work, this should not be too important in terms of salary, so that there is still money left in the end. Only those who have a plus can afford a loan despite short-time work. The finances should be given to the applicant in such a way that there are no further debts, because these must also be paid. An entry in the Credit bureau can have a negative impact on creditworthiness, which will often lead to rejection. If the house bank refuses a loan, another bank can be found, for example on the Internet, where borrowing is possible.
Conditions of the loan
Since no one knows how long short-time work will last, the loan amount should not be overestimated. As a rule, banks grant small loans to short-time workers, the sum of which is a maximum of 5,000 USD. This sum should be enough at the beginning to settle the most important bills. During this time, the loan should not be spent on vacation or other unnecessary things. The credit rates for a small loan are very low, so that they can be managed without any problems. The rate and the term are set, so the borrower can count on fixed monthly expenses.
Anyone looking for a loan despite short-time work will also get one. The search can sometimes take a little while, but whoever shows perseverance will succeed. Since the amount of the loan is not very high, there is often no need for special collateral other than the salary. The loan amount can be freely used, so that the bank does not require a purpose.