Credit despite parental leave – Borrow money from private or bank
The parental allowance is a highly meaningful thing. It allows a parent to leave work for a limited period of time without major financial losses.
Apply for credit online despite parental leave
The amount of the parental allowance depends on the last net income. Currently, it is 67 percent of the last net income. It is not surprising in this situation that the parental allowance is so popular. Unfortunately, it also has a disadvantage. The parents feel that when they want to apply for a loan despite parental leave.
Why are the banks stubborn on a parental loan?
Especially after the birth of a child, additional costs apply to the couple. There are costs for clothing, furniture and other things that significantly reduce income. If you’ve ever taken parental leave and wanted to get a loan, then you know it’s almost impossible. It does not bother you even a good credit rating, because most bank consultants shake in the demand for a cash injection with Elterngeld reference only the head. The problem is not about your credit rating, but about the income. The receipt of parental allowance is not considered income. Rather, this is a state benefit that is limited in duration. In addition, parental allowance is only granted for a maximum of 14 months. To make matters worse, whether the re-entry into a full-time job even succeed. Many parents only work part-time after birth, which also reduces their income.
What options do bank customers have to get a loan after all?
Complete the loan with a spouse
A loan in spite of parental allowance can, under certain conditions, nevertheless be put on the way. One possibility is that only the working spouse takes up the loan. If the salary is sufficient and there are no negative credit bureau entries, there should be no problems with a loan. It is not mandatory that both parents have to take out a loan. Such a loan agreement may also be concluded with only one parent if the aforementioned conditions are met. The banks prefer to see both parties signing the loan agreement, but it is not required by law. In order to find a suitable loan despite parental leave from a bank, it is advisable to make a loan comparison with a loan calculator before borrowing.
The duration can not be longer than the parental leave
If the loan can be paid during parental leave, very few banks will cause problems if a spouse is still working. In this case, the repayment of the loan is almost guaranteed, because the money from the state is always on time.
Find private lenders for the loan despite parental leave
If you did not get a loan from any bank, but your credit rating was not the reason for the refusal, try market places where private investors offer credit. Despite parental leave, a loan is possible here, because the lenders themselves decide on the risk they take when lending. You just have to sell well, then it works out with a personal loan.