Best Payday Loan Consolidation Reviews -Vladimirsafonov.Org Sun, 15 Dec 2019 16:08:05 +0000 en-US hourly 1 Loan for students Sun, 15 Dec 2019 16:08:05 +0000 ( more... )]]>


The main advantage of this loan may be that the installments can be postponed until after the end of the study (only interest is paid and the basic amount borrowed will start to be paid and after the termination or interruption of the study)

Loans for students from Loan and Credit

Loans for students from Loan and Credit

Student Loan – The Good Finance loan from Loan and Credit is a common non-purpose bank loan. The student can borrow from USD 20,000 to 600,000,000 from Loan and Credit. The maturity of this Good Finance loan can be set to 12 – 120 months (ie 1 – 10 years).

The Good Finance loan is intended primarily for university students or colleges. If the student does not have his / her own provable income, the bank requires the loan to be secured by a third party (parent or other person) who is able to provide regular income in the required amount. Alternatively, it is possible to guarantee the borrowed money by depositing with Loan and Credit or building savings.

Loan conditions for students from Loan and Credit

Loan conditions for students from Loan and Credit

In addition to the main condition – verifiable study at a university, college or secondary school in the Czech Republic or abroad, applicants for this loan must provide two identity documents for students. It is also necessary to have an account with Loan and Credit. If the applicant does not have it yet, the bank will establish it before submitting the application. This is a My Account personal account. The minimum annual cost of maintaining an account is USD 816.

The loan is in the range of USD 20 – 600 thousand, with a maturity of 12 – 120 months. The basic interest rate on this loan is 8.36%. Loan and Credit does not charge the loan approval fee. However, it charges an annual fee for managing the loan of USD 600 (ie USD 50 per month).

If a student seeking a loan


Does not have provable income of his own, the Good Finance loan must be guaranteed by his parent or by another person.

The loan for Good Finance students can be requested to postpone installments. In this case, the student pays only interest on borrowed money. The basic amount borrowed will not be paid until after graduation. The Good Finance Student Loan is thus one of the few ways students can finance their studies in the form of a bank loan.

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Loan References, discussion, advice Mon, 09 Dec 2019 16:05:51 +0000 ( more... )]]> Although microloans are generally recommended and we do not have any major reservations about the product, which is a Loan and Credit loan, it must be said that there may be situations where we may be surprised. More of this story:

It is therefore necessary to think about them especially when we think about the loan and want to objectively evaluate all the pros and cons. And we just look at the minuses. This loan is often used for problems with payday finances.

Loan and Credit loan has a relatively high interest rate

Loan and Credit loan has a relatively high interest rate

The first negative is certainly interest rates, so you really need to consider whether you are interested in a particular loan or not. If we were to be specific, then it should be said that a Loan and Credit loan can have an interest rate greater than 30 percent.

Not annually, but monthly. If we recalculate this interest for a year, we will reach less than 400 percent. And this advantageous loan really does not look. In practice, this means that if you borrow 10,000 dollars for a month, you will pay more than 3,200 dollars.

Beware of shorter maturity


A shorter maturity can also be a negative, as it may not always be what we are looking for. The lowest period is only one day after the money was earned, with the longest maturity being one calendar month. For smaller amounts it may not be as big a problem, but given that the provider can offer up to 20 000 dollars, it can be a complication , because in connection with interest it is necessary to prepare more than 27 000 dollars.

Although the Loan and Credit loan will offer the possibility to extend the deadline, it is not always related to the positive. This is because the extension may be subject to a fee. These fees are then based on the amount of interest, so with a twenty thousand loan you can pay for the next month’s extension of the 7,000 Czech dollars.

The loan is only for Czechs

The loan is only for Czechs

Another disadvantage may be that this type of loan is intended only for Czechs. This clearly defines the conditions, such as the fact that the applicant must have national citizenship and, of course, must also have a national identity document. However, this requirement is also related to the fact that you must stay in our territory at the time of the application.

This is another condition and Loan and Credit Loan itself qwprovides the following information: “ CAN I APPLY FOR A LOAN IF I AM ABROAD? – Unfortunately, we do not provide such loans, they are only available if you are already in the Czech Republic . ”

It is not always possible to reach the highest amounts

The last thing about potential risks is certainly that you can not always reach the highest amount available. This is very often intended only for those applicants who already borrow repeatedly . On the other hand, a number of positives are related to the application, where you can:

  • Use money for anything
  • Everything from the comfort of home
  • Get a loan without complicated proof
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Loans without a register on the way to Western standards Fri, 06 Dec 2019 16:40:05 +0000 ( more... )]]>

Czech market with loans without registry in the last three years significantly changed for the better. This was helped by the 2016 Act, which entrusted supervision of non-bank loans to the Czech National Bank.

The Loan and Credit also grants licenses to lenders who have to meet demanding conditions. As a result, the largest predators and various fraudulent companies have disappeared and non-bank loans have become safer, as they too have to meet a number of standards.

Non-banking companies are attracting to banks


But there were more changes. The biggest surprise for many people is that non-banking companies have created a truly competitive competition for banks and, according to surveys, they are already defeating them in some respects.

Large non-banking companies already provide loans at comparable prices to banks, and more often are more customer-friendly. This is confirmed by the independent test of People in Need, which compiles its Responsible Lending Index annually.

Three non-banking companies among the top providers


This chart shows some important things. In the overall assessment of the key indicators (loan costs, default penalties, helpfulness and transparency), large non-banking companies were successful and even ranked three in the top five.

However, smaller non-banking companies remained far behind. In terms of loan costs and non-repayment penalties, there is a sharp divide between small and large non-banking companies – you pay significantly more for the loan, up to ten times the size of the smaller.

E-Money leads the positive trend


The Czech loan market without a register is from the worst outside, but there is still a long way to go to Western standards. There are still companies that raise clients’ interest rates by 150% if they are late, failing to submit complete contractual documentation for review, or prevent clients from going to court in the event of a dispute.

However, there are also positive changes that our company E-Money as a large non-banking company has been promoting for many years. “ Many creditors have abandoned the charging of legal sanctions and are trying to negotiate with people. More importantly, four out of ten companies contacted do not charge contractual interest to people in the event of repayment, but settle for statutory default interest. We consider this a sensible practice, as debt increases often lead to a debt trap and will not help the lender or borrowers , ”says David Borges, who compiled the Index of Responsible Lending.

So if you are looking for a loan without a register, choose your provider carefully. The differences remain great. Here at E-Money you will meet with a helpful and transparent approach and as a large non-banking company we will offer you conditions with which you can be truly satisfied.

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Renovation loan for 30 days – fast and uncomplicated Tue, 25 Jun 2019 19:22:17 +0000 ( more... )]]>

Credit request for free & without obligation Learn in a few seconds whether you get a loan or not. Immediate payment in a few minutes By flash transfer, the money will be transferred to your account within 60 minutes. No effect on her Bank Your loan request does not affect your Bank score!

The renovation loan from Bank is not earmarked and can therefore be used as well as simple renovation work, as well as for refurbishment and modernization. But the scope of use is far from exhausted.

Definition: What is a renovation loan?


A renovation loan is a special loan that you may use to renovate or modernize an existing property. Basically, in this context, you can pay all the crafting costs with the loan, apart from maintenance costs. Whether the renovation takes place inside, outside or both as well, is irrelevant.

Typically, individuals take renovation loans just before moving into the object in question. In the commercial context, the loans are also suitable for luxury refurbishments to sell or rent the property at a profit.

For whom is a renovation loan suitable?

For whom is a renovation loan suitable?

A renovation loan always makes sense for you if you want to upgrade a property. As an example, you have found a cheap old building for your family. But much has to be done before the move-in. For example, a new heating system is necessary. You also want to refurbish the building energetically. Now a modernization loan will help you. Renovation loans as landlords make sense for you if you want to turn a middle-class property into a luxury property, for example.

In principle, all adult real estate owners or real estate tenants living in Germany are able to apply for a renovation loan or modernization loan. The same applies to German companies that want to renovate or modernize an office, for example. However, whether you actually receive the credit for the renovation depends on your individual credit rating. The acceptance rate for Bank is very high. Even with a weaker credit repayment ability, you still have excellent opportunities to receive the urgently needed renovation loan.

Renovation loans for the self-employed

The self-employed can receive a renovation loan from Bank. This is made possible by our proven creditworthiness certificate. You only have to submit the last income tax returns in addition to the completed application.
Ideally, you can also submit a current business evaluation (BWA). As a self-employed person, you can apply for the renovation loan both privately and for your job. For example, if you want your office to shine to the full, so that you can receive your customers properly, the Bank Home Improvement Loan is an ideal option.

Are renovation loans tax deductible?

You can deduct at least part of the loan for tax purposes. If you need the renovation loan privately, you may sell the craftsman’s costs at the tax office. You get a tax reduction of 20 percent – but only up to a limit of 1200 euros.

If you take out the renovation loan for your business or for a property that you want to rent, you may sell the loan in full. The loan in this case falls under the category “advertising costs”. The coup for landlords: You do not even have to rent the property for this, but only specify your intention to lease.

Renovation Loans Online Compare

Renovation Loans Online Compare

There are numerous loan offers in the market. It is therefore advisable that you compare the renovation loan comprehensively. The loan calculator by Bank is suitable for this purpose. Not only do you get a clear overview of all suitable offers within seconds. The request is also neutral. This means your score will not be affected by the General Collateral Association.

Advantages of a loan over Bank

Advantages of a loan over Bank

In search of a renovation loan, Bank is your ideal partner to find the loan on the best terms. To prove this, we have built our service so that you can test us quickly, easily and without any harm.

1. Free loan calculator

You can use our free loan calculator to display a list of suitable loans within seconds. Of course, the conditions for the respective renovation loan are displayed transparently. You determine the amount of the loan and in what time you want to repay the loan.

2. Bank neutral loan inquiries

All credit inquiries at Bank are Bank neutral. Your scoring will not deteriorate. We believe in the fair play principle in interaction with our customers: only people who can pay a loan will get information from us. That’s why we do not penalize you if you only inquire with us – but on the contrary help you to the best of our ability.

3. Credit despite medium creditworthiness

Bank also calculates your credit rating in a different way than any other bank and also creates a personal credit certificate for you upon request. In addition to your information, for example, we rely on the thousands of experiences we have already gained through lending. You can also get a loan with medium credit rating.

4. Immediate disbursement of renovation loans

Fair play also means for Bank that you do not have to wait endlessly for your loan: You send the application and receive the notification within seconds. After 30 minutes the money for your renovation loan will be transferred if you choose our express option!

In addition, our very fast repayment options mean that you do not have to make a long commitment. If desired, you can repay your renovation loan, for example, within just 30 days. The credit costs are also very low.

  • Real immediate payment
  • no hidden costs
  • Even very small loan amounts as 100 euros possible
  • Also loans for persons with Bank score D to M possible

For this, renovation loans can be used

For this, renovation loans can be used

Unlike other lenders, Bank gives you the freedom to use the renovation loan. Would you like to put a new floor in your apartment? Do you need a transfer allowance? Do you need to refurbish a house energetically? Are you planning to modernize your office and work spaces? As this is easily possible. We want you to use the loan exactly where you need it!


You can use your renovation loan indirectly through an existing home savings contract. Loans that serve the repair, modernization or repair of a property may be redeemed through the funds of a home savings contract.

Fast loans for the renovation of Bank

Fast loans for the renovation of Bank

The renovation loans from Bank are ideal if you want to be quick and stay cheap. You will not find any commissions, processing fees or preliminary costs with us. Since you can choose short maturities and credit lines for us, interest rates also remain very low.

What are the interest rates for renovation loans?

Of course, you are interested in what a modernization loan actually costs. Suppose you take out 500 euros of credit for a floor that you lay yourself. Thus, the annual percentage rate is 13.90 percent. If you repay the loan after one month, you have to transfer 505,80 Euro. Your credit costs are not even six euros.

How to apply for a renovation loan

How to apply for a renovation loan

You can apply for the Bank renovation loan in just three steps. The whole process costs hardly any time and is very simple.

1. Determine the loan amount First, select the loan amount in the loan calculator that interests you. Then set the desired term and see immediately which total amount you have to repay including interest. 2. Make application Click on the button “Apply now”. In the second step, complete the form and upload the required documents. Make sure you have all the details truthfully. 3. Verification With the VideoIdent procedure, you can be conveniently verified at home. Alternatively, you can also use the Postident procedure for this. So you just go to the nearest post office and have your identity confirmed here.

Requirements for residential loans

Requirements for residential loans

The conditions for residential loans at Bank are kept very low. You need a German residence, a bank account in the Federal Republic as well as a monthly income of at least 500 Euro. At least you have to have a medium credit rating. So you need:

The prerequisites for a renovation loan at a glance:

  • An ID card confirming your German residence and age of majority
  • Salary or earnings statements confirming that you can book at least € 500 per month as income
  • A german bank account
  • at least medium credit rating

Renovation loan without Bank

Many banks offer modernization loans “despite Bank”. This is a misleading term because it suggests that you would receive the loan without a credit check. No reputable financier will refrain from checking to see if you can repay the loan for your renovation. Therefore Bank goes another way: We check your creditworthiness, but do not use the Bank for this purpose. You can be so sure to get your renovation loan from a reputable lender.

Credit for the apartment with immediate payment

Especially people who earn little, often quickly need their small loan for the apartment. As an apprentice, for example, you have to move or the heating in your home breaks down and you have to repair them for your own account. Here we can help you. Within only 60 minutes, the money for your renovation is in your account and is then at your own disposal.

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Mortgage Loan – How to get it and when it’s worthwhile Tue, 04 Jun 2019 19:52:10 +0000 ( more... )]]>

With a mortgage loan is an easy way to bridge a short-term financial bottleneck. Pawnbrokers pay cash for valuables from antique to zirconia. The mortgage loan is better than its reputation – the middle class uses it on average most frequently. Many self-employed people who find it hard to get credit from banks see a deposit loan as a convenient way to raise funds for an investment at short notice. But how does a mortgage loan work and what has to be considered in the pawnshop?

Significance of the mortgage loan

Significance of the mortgage loan

What distinguishes a mortgage loan?

A mortgage loan is one of the oldest forms of loan in the world . The borrower named in this loan pledge deposits a movable object of value in a pawn shop and receives a certain amount of money as loan. The bureaucratic effort is negligible. For a mortgage, neither proof of credit in the form of salary certificates or property ownership nor a Bank information is necessary . The pledger receives from the value of goods between 25 and 70 percent paid in cash, which is about the price that would be achieved in a sale. Within a period of three months , the pledger can re-trigger the loan. The pawnshop does not acquire any property rights by paying out the money. As with a traditional loan, interest is charged on a mortgage loan. Up to a total of 300 euros it is one percent, about two percent. The legislature has set as well as the fees of 2.50 euros per month for sums over 100 euros and 6.50 for a mortgage over 300 euros .

Forms of mortgage credit

Forms of mortgage credit

The mortgage loan in the pawnshop

Most pawn shops are reputable, modern companies that offer a pawn loan instead of goods . The customer estimates an item of lasting value, receives a pawn certificate and immediately pays the pledge loan. Its profits make the pawnshop from interest and fees, which are specified by the legislator in the Pfandleiherverordnung .

The pawn loan has an old tradition in Germany. As early as 1650, a pawnshop was opened in Regensburg. The pawnshop always has its own workshop, in which the valuables of the customers can be estimated the same. If one agrees, the payment of the sum takes place immediately in cash. The mortgage loan is often called the “credit of the little man” . In contrast to normal bank loans, it is sufficient to be in possession of a valuable asset in order to receive immediate cash. The identification card is sufficient, no further documents are required. Anyone claiming a mortgage loan does not owe any debts. If the customer does not cancel the pledged property after the agreed deadline, it goes into the auction . This result is not convenient to the donors of a mortgage credit. Not only the pawnshop loses money, the customer has lost his property. When triggering their mortgage lending, the Germans are exemplary: 93 percent of the pawns trigger their valuable object again.

The online mortgage loan

The online mortgage loan works like a classic pawn shop. The difference is that everything is digital. As a rule, luxury watches, jewelery, precious stones, precious metals such as gold bars and gold or silver coins are accepted . Also other valuables such as high-quality smartphones and other consumer electronics can be submitted for a mortgage loan . The customer uploads one or more photos of the item for his loan request. By means of an analysis, appraisers value and the customer then receives an offer for a mortgage loan. If it agrees, the online pawnshop arranges the collection of the item by express service or Werttransporter. The online pawn shops take over once again a final check and then make the transfer of the sum to the account of the pledger. Most transactions are completed within 24 hours. For exceptional valuables, the processing may take a little more time.

Until the pledger triggers his valuable item, it is stored in a vault. Also in the online pawn shop there is a pawn ticket, which is considered the official contractual document. If the customer has repaid the sum, the item will be returned. For such fees, the deadlines may be extended beyond the usual three months.

There are now online pawn shops specializing exclusively in cars . The loan is paid in full, or on a pro rata basis, based on the current value of the vehicle. The owner can continue the car during this time. As with all business transactions on the Internet, caution should be exercised with a mortgage loan, as there are also black sheep among the providers. It is also advisable to compare the offers of various online pawn shops , which is more time-consuming than the walk to the nearest pawnshop .

Advantages and disadvantages of a mortgage loan

Advantages and disadvantages of a mortgage loan

What opportunities and advantages does a mortgage loan offer?

A pawn loan benefits everyone who needs money quickly but does not want to take out a regular loan or can not do so due to a lack of creditworthiness. In addition to the pawnshops to be found in every major city, loan seekers can also try their luck with online pawnshops.

These are the advantages:

  • No credit check: Money versus commodity offers some advantages over the conventional bank loan. This mainly affects credit seekers who have an entry in the Bank or several loans run, so that the banks see a lack of creditworthiness. For a mortgage loan, there is no evidence of specific cash receipts or other assets . Consumers with a bad score need not be concerned when they ask for a mortgage. There is no report on the pledge credit to the Bank, as it is a Bank-free loan. Also guarantors are not necessary. As security the deposited value suffices.
  • No bureaucracy: filling in forms is not necessary with this type of loan. The pledger receives a loan certificate and proves his identity by means of an identity card. Further documents are not needed.
  • Security: Valuables are in good hands in the pawn shop, because they are stored in vaults. The loan note issued to the pledgor is considered an official document. The procedures and fees in a pawn shop are regulated by the Pfandleiherverordnung.
  • Fast transfer: Anyone who decides on a mortgage loan from an online pawnshop may expect a very short transfer time. As soon as the pledger has accepted the sum, it is instructed – usually the same day.
  • Quick estimate: Valuables such as jewelry, coins and precious metals are assessed quickly and reliably by the experts in the pawnshop. Only with failed items, it can lead to a greater time stress.
  • Fast payout: If the customer and the pawn shop agree, the pawn loan is often paid in cash within minutes.
  • Short maturities: For those who need cash quickly, but do not want to commit to long repayment periods, a mortgage loan is ideal. The loan usually runs for three months. However, the pledger is free to trigger his object of value within this time period on any given day. Nobody has to wait until the end of the maximum runtime.
  • Uncomplicated extension: If it does not work as planned with the repayment, the term can be extended. For this, a renewed access to the pawnshop is required, since only the previously accrued fees and interest must be paid.
  • Calculable Risk: If a loan can not be paid, it can be uncomfortable for a borrower. If the pledge loan is not replaced, the valuable asset goes to the auction. The risk of non-payment is exactly calculable for the pledgor. If the value at auction exceeds the amount of the loan, the customer is entitled to withdraw the difference after the loan has been paid by the proceeds.

What risks and disadvantages does a mortgage loan offer?

A mortgage loan is flexible and unbureaucratic.

But the system also has some disadvantages:

  • High interest rates and fees: A mortgage loan is comparatively expensive. For a sum of 500 euros, five euros interest and 15 euros other fees are due after one month . If the term is extended because the value can not be raised, the interest rate for one year is at least 48 percent. Even the regular credit line at the bank is much cheaper.
  • Refusal: A pawnshop can refuse the mortgage loan because the valuables are not valuable enough.
  • Loss: If the money does not come together to pay off the mortgage, the thing goes into auction and is lost.
  • Short term: A mortgage loan is only for people who can repay a borrowed amount quickly, otherwise it will be expensive with interest and fees.
  • Too little money: Sometimes the jewelry or the painting is not worth as much as it is supposed to, and a significantly lower amount than expected for the mortgage loan is offered.
  • For the patient: Anyone who chooses an online pawnshop needs patience. Because checking, shipping and receiving payment on the account take time.
  • Small sums: A mortgage loan is usually not paid in the four-digit range or above. Typical are small sums up to 500 euros, in exceptional cases, more.
  • Misjudgments: Even the best reviewer may be wrong. Therefore, it is advantageous to obtain offers for a pawn loan from various pawnshops.

Alternatives to the mortgage loan


Anyone who has already taken out many loans may not get a loan from the house bank or other providers due to a lack of creditworthiness. In this case it is possible to take out a loan with the help of a guarantee . Mostly take over the family members or close friends. If the loan installments can not be paid, the guarantor will be liable. Many have fallen into debt because of their helpfulness. In the event of a dispute, the guarantee continues to run, which can become a risk if, due to unwillingness, no more credit installments are paid. Frequently, cash is needed quickly to finance a rental deposit. In such cases, a rental guarantee offers. The landlord receives instead of the amount of money a guarantee certificate. This service costs the renter a specific fee per year.

small loan

Small loans are an optimal way to get money fast. For a mini loan, a fixed income of 500 euros per month is required. Thus, a small loan is also possible for pensioners, subscribers of ALG I, students with a fixed part-time job and freelancers. Similar to the mortgage loan, such micro -credits are granted by specialized companies on an online application as fast as lightning . Characteristic of small loans is a short term. This is between 30 days and six months. Due to the short maturities, the annual percentage rate of interest falls only proportionately, which makes small loans particularly attractive. Possible totals between 100 and 3000 euros.

Deposit a loan: Requirements and procedure

Deposit a loan: Requirements and procedure

Regulations and legal framework

The Pfandleihverordnung regulates the commercial mortgage lending business in the German legal area . Specifically, the regulations on the display of the trade, the obligation to keep records, the form and content of the pledge, the method of storage and the insurance and recovery of the pledged pledges are determined. Also, the interest and fees are required by law.

Pawnbrokers are bound by this ordinance, otherwise they face penalties. A pawnshop requires a permit from the authorities and is subject to their supervision . In the pawnshop, only the rightful owner of a valuable item may take out a mortgage. Forbidden to pledge the property of third parties is a criminal offense. Who wants to pledge foreign property, for example because the grandmother has provided jewelry, requires a power of attorney from the owner.

Under what condition can mortgage loans be taken up?

Getting a mortgage loan is very easy. Customers need to think ahead to see if they can go to the house or use the service of an online pawnshop. It is worth comparing offers. If you have multiple valuables to choose from , everyone should be appreciated to make the best selection. Valid identification documents are sufficient. For an online mortgage, the procedure works similarly. The only difference is that photos of the valuables are sent to the pawnshop for review.

How to complete a loan:

  • Get quotes from various pawn shops : either by a personal visit or by submitting photos
  • Presentation of identity card and valuables in the deposit office
  • Examination by the appraiser and offer : on average 50% of the resale value
  • Signing the pledge agreement and handing over the deposit slip to the customer :
  • Payment of interest and fees
  • Within three months triggering of pledged valuables possible . If not: extension of the deadline. This will incur new charges. If the mortgage credit is not triggered, the valuable item goes into auction.

Customers who lose their pledge must report this to the pawnshop. Otherwise, the finder could redeem the item. After agreement with the pawnshop, the release is then possible by means of an identity card.

Tips for dealing with the pawnshop

Tips for dealing with the pawnshop

Proper handling of the pawnshop

Whether antiques or gold jewelry – the range of what pawn shops assume is large. More and more people are bringing their smartphones to the pawnshop. In addition, weapons, cars and musical instruments are also accepted. However, technical devices are only accepted if they are in perfect condition. It often happens that objects are rejected, for example, because they are kitsch instead of art. In addition, it should be thoroughly examined before going to the pawn shop, whether a mini loan is the better option .

The pawn note should be well kept because it is considered the proof of ownership . If, after the deadline, there is no possibility to repay the pledge loan, customers should be aware of the auction date and, if necessary, have a higher differential amount paid out directly.

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Residual debt waiver: Tips for debt relief after personal bankruptcy Thu, 30 May 2019 20:17:21 +0000 ( more... )]]>

Anyone who has such overwhelming debts that he can not repay them in his life has the option of a private bankruptcy procedure. If everything goes well, the debt relief is at the end of the insolvency proceedings: From this point, all debts are done.

What is a residual debt exemption?

What is a residual debt exemption?

The discharge of residual debt was introduced in 1999 as part of the bankruptcy law reform and offers natural persons the opportunity to be exempted from all previously unfulfilled liabilities . This happens either in the context of a bankruptcy plan or – without such – after six years of good behavior. Thus, for example, former self-employed, who had to adhere personally with their entire fortune for their activity and are then highly indebted, hope for a debt-free restart. Reason for the introduction of the residual debt exemption was the equal treatment: While a corporation was dissolved after bankruptcy and the creditors were no longer got money, this option was previously denied to other debtors. They had to pay life-long to the creditors.

Conditions for the discharge of residual debt

One of the essential prerequisites for the discharge of residual debt is that part of the debt is paid . If a petition for bankruptcy is filed, a debt settlement plan will also be drawn up. In this is recorded how much money in the bankruptcy phase is handed over to the trustee. From this, the creditors get their money, so that the debts gradually become less. However, the release of residual debt is open only to so-called honest debtors, dishonest it is denied.

When can an exemption be requested?

According to section 287 (1) of the Insolvency Law, the debtor himself must file an application for the opening of insolvency if he wishes to benefit from the remainder of the exemption. If, on the other hand, the creditors file a so-called third-party application for bankruptcy, the debtor can not count on a debt waiver. In order for the debtor nevertheless to have the opportunity to waive the residual debt, Section 20 (2) InsO stipulates that in the case of a justified third-party application, the court points out that the waiver of residual debt pursuant to Sections 286 to 303 InsO is possible.

Who gets a residual debt exemption?

In principle, anyone who opens insolvency proceedings can also receive a residual debt exemption. However, only if the application for this has already been made with the opening of the insolvency proceedings . Basically, there are no rules regarding the level of debt, the age of the debtor or his or her professional situation. Anyone who is guilty of any breach of the rules during the entire period of good conduct will be granted the exemption by order of the court. From this moment, the claims of creditors may no longer be enforced and the debtor is free from recourse claims.

The expiry of the residual debt exemption

The expiry of the residual debt exemption

  • First, the insolvency proceedings must be opened. Thus, as in the period of good behavior, creditors are prohibited from individual foreclosure.
  • The insolvency court appoints a trustee.
  • It manages, utilizes and distributes the assets of the debtor, primarily paying the costs of the proceedings and subordinated all claims of the creditors.
  • Once the assets have been utilized and distributed, the actual insolvency proceedings have ended.
  • Then begins the so-called period of good behavior, at the end of the residual debt exemption is possible.

Formalities of residual debt exemption


How is the debt waiver requested?

At the competent court, the debtor has to file an application for the waiver of residual debt at the same time as filing for insolvency. Once the insolvency proceedings have ended, the residual debt clearance procedure begins. During this time , the debtor must behave accordingly well . It is only at the final sitting of the proceedings that the court decides whether the debtor is exempt from the remainder of the debt – or whether it is denied.

Immediate release of residual debt

If no creditor has lodged a claim with the court or if both the court costs and all claims of the creditors are satisfied after conclusion of the insolvency proceedings, the court can grant the immediate discharge of the debt as of 1 July 2014, if requested by the debtor. (Section 300 (1) sentence 2 no. 1 InsO)

Residual debt exemption after five years
If the debtor has paid all the costs of the proceedings, the debt waiver may be granted by the court upon request, five years after the beginning of the insolvency proceedings. (§ 300 Abs. 1 Nr. 3 InsO)

Early termination of proceedings and discharge of residual debt

If all creditors have declared their consent in writing in court , the insolvency proceedings under § 213 InsO may be terminated prematurely . It does not have to be proven that their claims have been satisfied. However, the insolvency administrator must correct the mass claims and the procedural costs and, in accordance with section 214 (3) InsO, must provide appropriate security for the mass claims. 

 If all creditors have declared their consent in writing in court, the insolvency proceedings under § 213 InsO may be terminated prematurely.

Duties and grounds for refusal of residual debt

In order for the court to grant the debtor exemption, it must prove its worth during the period of good conduct. Except for the non-attachable part of the income, he has to hand over all income to the trustee so that he can satisfy the claims of the creditors. If the debtor acts independently during this period, the actual profit will not be taken as the basis for calculation, but the earnings he would receive in a regular employment relationship, depending on his education. During the six-year beneficial period , the debtor must try to pay at least part of the debt.

Obligations of the debtor:

  • He must seek or carry out appropriate employment. Anyone pursuing employment must not simply quit. Even if you are self-employed, you have to keep working.
  • He must inform the bankruptcy court and the trustee if he is seeking new employment and if he changes his place of residence.
  • He must notify both the bankruptcy court and the trustee if he or she has money due to special circumstances or less money than before.
  • Only the trustee may send money to the creditors.
  • If the debtor inherits during this time, he must hand over half of the inheritance to the trustee.

The failure reasons for a residual debt exemption

According to § 290 InsO, the debtor does not receive any residual debt exemption if:

  • he was finally convicted of a bankruptcy offense.
  • he has illegally seized public subsidies, public funds or credit.
  • he wasted his money.
  • he has given false information and thus violated his obligations to cooperate and provide information.
  • He has already obtained a residual debt exemption in the past ten years.
  • he was denied the granting of a residual debt exemption in the past ten years under § 296 or § 297 InsO.

tip Most often, the discharge of residual debt is refused if the insolvency petition has not been filled out correctly (§ 290 (1) no. 6 InsO). All information about the personal assets, the income earned, the list of all creditors and their claims must be filled out correctly. The same applies to the application for insolvency and the application for the discharge of residual debt. Should an error nevertheless happen, this may neither be grossly negligent nor intentional. Therefore, both the application for bankruptcy and the application for exemption from residual debt should only be made with the assistance of a debt counselor or lawyer.

The residual debt exemption and tax debts

The residual debt exemption and tax debts

If the debtor has debts to the tax office because he was unable to pay the taxes, they will be treated like all other debts. The exemption from residual debt thus also applies to tax debts . This applies to all types of taxes, such as wage and income taxes, but also unpaid sales taxes. If the debtor has been convicted for a tax offense, for example because of tax evasion, that is no obstacle to a discharge of residual debt. Although the penalty due for it has to be paid, this does not apply to unpaid taxes.

Also in the insolvency procedure and in the period of good behavior the due tax declarations must be prepared and submitted to the tax office. If there are reimbursements during this period, the insolvency administrator will retain them during the insolvency proceedings. During the period of good conduct, she receives the debtor but should notify the liquidator of this. If debts are still open at the tax office, this may withhold any reimbursements in the period of good conduct and settle them with the debts.

Danger In the case of self-employed persons, traders, farmers and foresters, the exemption from residual debt can lead to taxable profits – and in turn taxes must be paid.

No residual debt exemption possible?

If the residual debt relief is denied, the debts are maintained and must be paid off slowly. Since the interest rates on loans are favorable, a small loan could help over the first time: this can be used to replace outstanding debts. As both personal bankruptcy and the discharge of residual debt are stored at the Credit Scorer, a new loan is only possible if the note is deleted three years after the remainder of the debt has been cleared. Those who can still avoid personal bankruptcy should consider different ways of debt repayment. A foreclosure can be avoided in many cases.


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Why is the loan application not approved? Tue, 28 May 2019 20:15:12 +0000 ( more... )]]>

Why the loan is not approved, why the loan application is not approved, all the information about the types of loan applications and the reasons for the rejection of the loan are included in the continuation of our article. Nowadays, many people may have to consider credit options in case of urgent cash needs.

When this is the case, it is quite possible to say that loan applications and the use of bank products are very common in our country. However, there are some reasons that may prevent our loan from being approved. We have compiled these reasons for you and wanted to summarize how to apply for the right loan.

If we consider the evaluations taken by the banks, we can say that they were very careful about repayment of the loan in the first place and that they focus on this area during the loan application. Why is the loan application not approved? What are the reasons why the loan application is not approved?

What is a loan application?

loan application

First of all, we need to say that we need to make a correct application for approval of loan applications. If you apply from banks you have not worked with before, this may be quite a problem for the approval of the loan. It is inevitable that this loan application will be rejected as banks that have never known you before will consider much more detail when lending. If you want to apply for the right loan, we recommend that you first turn to the banks that know you.

For example, applying for a loan to the bank where you work has paid a salary can be considered a very valid reason for immediate approval of the loan. Since these banks know the amount of your monthly salary, they will calculate your monthly income-expense balance faster and approve your loan instantly. When you apply to banks that do not have a previous work history, it is quite normal for the bank to ask for a certificate of income from you. Unfortunately, such cases will extend the loan application process and result in its rejection. You should also keep in mind that rejected applications are seen by other banks.

So why are your credits not approved if you think you’re eligible to use credit? What are the reasons why your credit will be approved? Let’s examine it together.

Why is the loan application not approved?

As we mentioned in the first part of this article, there are a number of reasons why your loan application may be disapproved. For this reason, we would like to remind you that if you make applications by paying attention to the details given below before applying for a loan, the possibility of approval of your loan and the approval process will accelerate. Why is the loan application not approved?

Low Credit Rating and Poor Record

Low Credit Rating and Poor Record

Of course, you know that the first criterion that banks look at when making a credit assessment is the credit rating. If you have been subjected to transactions such as irregularities, delays and legal proceedings in the payment of bank products you have previously used, these transactions have probably lowered your credit rating. As you can see, a low credit rating is a very good reason for disapproval of loans. Before applying for a loan, you can learn your credit rating from the related banks. In addition, credit rating by reading our article on credit is low, you can use loans with low credit ratings. However, if you have enough payment irregularities and legal proceedings to enter the blacklist, we must regret that it is increasingly difficult to use credit.

Insufficient Monthly Income Balance

Insufficient Monthly Income Balance

If you are applying to the bank where you get paid to use your credit, your credit is a quite a high probability of approval. However, it is not possible to approve your loan because you receive a salary. If you use various products (credit card, km) in banks and your limits are not commensurate with your income, banks may also see this as a risk. You have a much higher credit card limit than your income, and if you have used it, the bank may not consider opening a more credit and may reject it by evaluating it in the risk group.

Wrong and Missing Information and Application

One of the reasons why the credits are not approved is to apply with incorrect and invalid information. If you enter your address, income, or phone-style information incorrectly, banks may not be able to verify it, so they may reject a loan application directly. Another important consideration is income information. If you report income when more than one bank, the bank must remember that he might go on a road like this verification. Unfortunately, if you cannot document your income, your application will be rejected, as banks may request an income certificate during the loan application.

Multiple Applications at the Same Time

Making multiple applications at the same time may be one of the biggest mistakes made in loan applications. If you apply to more banks to try your luck, these banks may not be able to extend credit to the customer as they will be seen by other banks. If rejected, how many applications in different banks, you should note that the approval rate of new applications that will be reduced.

What should I do if my credit application is not approved?

What should I do if my credit application is not approved?

If your credit application is not approved for the above reasons, you should take very correct steps at this stage. It is very important that we make the right choices as each rejected application will greatly reduce the likelihood of other new applications being approved. For example, if your application from the bank X has been rejected due to lack of income, it would be wrong to have the same amount of your application to bank Y. Other banks may also take the same action, as the lack of income is not a justification for the banks. For this reason, we advise you to learn from the employee of the bank for all the reasons why the loan was declined.

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Partner loan: why couples should take a loan for two? Sun, 19 May 2019 20:00:02 +0000 ( more... )]]>

In many fixed partnerships or with married couples, it is normal for the necessary investments to be considered through a joint credit. Various banks and comparison portals advertise directly that favorable conditions beckons and there is a higher likelihood of a loan approval, if you make the application for two. Here are some pros and cons of borrowing together


Spouses do not have to apply for a loan together

Spouses do not have to apply for a loan together

According to statistics, around 20% of all loans are requested by 2 people together, most of whom are married couples. Banks often require a signature from both persons, ignoring the wish of the spouses. This is not officially required. This methodology of some banks creates the misconception of spouses that both persons have to conclude the loan agreement together. This is an advantage for the bank, as payment difficulties can be used by both debtors. As a couple, you should therefore weigh exactly what your pros and cons are.

Apply for two-way credit for lower interest rates

Apply for two-way credit for lower interest rates

For most banks, interest is awarded according to the applicant’s situation. Often this is indicated by an interest rate frame, eg 3% – 11%. The better the creditworthiness of the applicant, the lower the interest. In the case of married couples usually increases the regular income and thus the credit rating. So usually waving a significantly lower interest rate for the online loan.

Loan with partner for higher loan amount

Loan with partner for higher loan amount

In case both spouses have a regular income, it makes sense to take out a loan together. When applying for the loan from both persons, the credit check is based on both salaries and adds up. Thus, the married couples increase their chances of obtaining credit approval and can additionally use a larger loan amount.

Worse overall credit rating with negative Bank entry

Worse overall credit rating with negative Bank entry

If one of the two spouses already has a negative Bankentry, that worsens its credit rating. Possibly. The person alone is not able to apply for a loan because they have a Bankscore worse than C. With Fanny Price, it is also possible with medium credit (BankScore C-M) to get a small loan, thanks to its own scoring system, normal banks are usually not willing to do so. Therefore, the joint borrowing should be reconsidered. Possibly. it is more advantageous if the spouse with a positive credit rating makes the loan application on his own to increase the chances of obtaining a license.

Both partners are liable for the credit for each other

Both partners are liable for the credit for each other

In contrast to the marriage arrangement, where the financial gain of the community is only the gain during marriage, it is different when it comes to borrowing. In the case of joint borrowing, both spouses are jointly and severally liable to the bank, even after the divorce. Both partners are equally responsible for the loan. However, should a spouse apply for a loan for themselves during marriage, the other spouse will not automatically be liable for it.

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Loan despite probationary period – apply for a loan in the probationary period Thu, 18 Apr 2019 19:57:00 +0000 ( more... )]]>

Need money today? No problem. Now until 15.00 o’clock your credit despite probationary period – with express option apply and still have the money in the account today Simply apply for a mini loan online Easy and convenient to apply for credit online via smartphone, tablet or PC. Immediate confirmation received For the loan despite probationary period you receive the promise or rejection in real time.

Credit despite probationary period – How to manage the financing

Credit despite probationary period - How to manage the financing

Workers entering the world of work or recently changing employer are usually in the so-called probationary period. During this period both employers and employees have the opportunity to get to know each other and find out whether the employment relationship will continue in the future. Against this background , despite probationary periods, credit can play a key role and significantly influence career development decisions. Important influencing factors, such as potential exclusion criteria, guarantees or alternative options to classic financing options are presented below in combination with some tips and tricks.


What speaks against a loan despite a probationary period?

For both the credit institution and the borrower, there are risks in the case of a loan despite a probationary period, which can have a material impact on a financing transaction and therefore have to be precisely and individually assessed.

Risks for the bank:

  • The risk of default is high for the bank , as no-one can say with certainty whether the borrower will be employed by the employer beyond the probationary period and thus continue to service the monthly installments due.
  • If the income in relation to the loan applied for is too low , the bank usually decides not to grant the loan.
  • In the recent past, return debits have been credited to the account , so there is a high probability of cancellation by the bank .
  • Overdraft facilities in combination with a probationary period reduce the chances of success for the applicant.

Risks for the borrower:

  • If the employment is not extended , the borrower exposes himself to a financial pressure despite having completed a probationary period . Over- indebtedness is likely.
  • If borrowers under all circumstances have needed the loan despite the probationary period and have deposited collateral in the form of property or assets , there is a high risk of loss.
  • If the borrower can not meet the due repayment installments for at least one month , the garnishment of the pawn threatens. The employer is informed about this situation and included in the settlement of the debt in the course of a foreclosure procedure.

Does this difficulty apply to all types of loans?

The probationary period is an essential and at the same time temporary parameter for financing transactions. Nevertheless, the risks for banks and borrowers are generally valid. Especially with the financing of a home without equity or a vehicle , the probationary period can be decisive. Only existing equity for a down payment can put the overall situation in a new light.

Is it possible to conceal the probationary period?

The concealment of the probationary period is explicitly to be discouraged. If the deception manages to succeed and is discovered later, the loan contract is threatened with an immediate termination . It follows that the bank may demand immediate repayment of the open loan amount including interest.

Solutions for the loan despite probationary period

Solutions for the loan despite probationary period

A schafafreier credit and small loans as a solution

A key benefit of non-business lending is the ease with which banks’ stringent requirements can be easily circumvented, giving borrowers more flexibility and flexibility . On the other hand, the associated financing conditions have a disadvantageous effect. Usually, lenders charge higher fees, which are included in the interest. This increases the loan amount. Borrowers who want to apply for a schufa-free loan must be at least 18 years old and 60 years old or less. In addition, the possession of the German citizenship and a residence in Germany are considered as a mandatory condition. An alternative to the schufafreien credit is the small loan of Bank.

Take a loan in the probationary period for two

There is a possibility that two equivalent borrowers will share the debt burden from a loan despite a probationary period . Both applicants have to make representations to the bank and explain their concerns in a joint discussion. Typically, the second borrower is the spouse or partner . From the point of view of the bank, the default risk is reduced. Both borrowers have to share the debt burden and are equally liable for the loan .

Realize the loan despite a probationary period with the help of a guarantor

If a borrower requires a loan despite a probationary period and can not provide sufficiently high collateral to the bank, the name of a guarantor is usually obvious . If the proposed guarantor has a good credit rating, no negative features in his personal Schufa card index and a regular income from permanent employment, nothing stands in the way of the financing talks. However, banks usually require the conclusion of a residual debt insurance to avoid the risk of the death of the guarantor. Borrowers have to pay much more for the loan against this background.

As an alternative to a loan despite a probationary period: the mortgage loan

An attractive alternative to a loan despite a probationary period is the mortgage loan. This is similar to a classic car loan. To take advantage of this credit model, the borrower must deposit a deposit with the bank . As a rule, this is usually valuable jewelry, which is also easy to store. The pawn shop estimates the value and deducts a haircut. Borrowers therefore only receive part of their payments. For example, if a clock is estimated at 2,000 euros, it may happen that the payout amount to 1,000 euros.

Provide collateral for the loan despite probationary period

As an alternative to surety through friends or family members, banks usually accept additional collateral to secure a loan despite a probationary period. This is especially interesting when potential guarantors do not have sufficiently high creditworthiness for the financing business, contrary to expectations . Thus, in addition to the guarantee, borrowers can promise a security transfer of their vehicle or the assignment of claims from endowment policies to the bank. The pledge of savings or securities is by no means uncommon. While the bank secures itself with this security assignment against a capital loss, there is a risk for the borrower to lose the stored value in case of insolvency . Basis for this legal transaction is § 398 BGB.

Duration of the loan in the probationary period and the employment contract

Duration of the loan in the probationary period and the employment contract

Note the term of the loan and formalities in the employment contract

Whether a takeover after the probationary period into a fixed employment relationship by the employer takes place, nobody can predict for sure. Against this background, borrowers should consider their personal life situation conscientiously and deliberately . Those who do not risk risking over-indebtedness.

In order to effectively prevent this danger, it is advisable to consider the duration. In principle, it is advisable to keep the duration of the loan less than the probationary period . This ensures that the loan can be safely repaid by the borrower to the creditor . This leads to the consideration of how high the loan may be in relation to income during the probationary period .

The basis should be the drawing up of a detailed budgetary account, which will inform the consumer of the current financial situation and the scope for capital transactions. Once all expenses and revenues are compared, a budget can be determined which can be used for the loan despite the probationary period. Of course, the available budget should not be fully budgeted, but proportionately for the planned loan in order to create a financial cushion.

Alternative financing options

Alternative financing options

Claim a short-term loan

loan amount

Repayment after 30 days

Sample application for the loan

100 euros credit 101.16 EUR For example request for 100 EUR  
200 euros credit 202.32 EUR For example request for 200 EUR  
250 euros credit 252,90 EUR For example request for 250 EUR  
300 euros credit 303.48 EUR For example request for 300 EUR  
400 euros credit 404.64 EUR For example request for 400 EUR  
500 euros credit 505,80 EUR For example request for 500 EUR  
1000 euros credit 1011,59 EUR For example request for 1000 EUR  
2000 euros credit 2023,17 EUR For example, application for 2000 EUR  

A viable alternative is the Bank short-term loan for credit-seeking consumers. The state-regulated loan in the probationary period has a duration of 30 days and a maximum of 60 days (2-rate option) and a fast payout process . There are no costs for commissions, administration or processing. Borrowers only pay interest for the period, which is limited to a few euros for small loans.

Private guarantor for the loan despite probationary period

Who takes a personal loan from friends or relatives, enjoys the advantage of having to pay any interest on the borrowed capital. In addition, both the credit rating and the schufa of the borrower has no relevance. However, consumer protection rules for personal loans are not valid . In addition, unpleasant disputes about the borrowed money are in the range of the possible.

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