Minor employees are not necessarily the favorite clientele of banks and savings banks. They only have such a low income that it is usually difficult to accumulate a large balance in the account. For banks, this means that they can not only expect no money from a marginally employed person, but also cannot work with the non-existent money. ruegenportal24.net fleshes this out
It gets worse when you look for a loan for marginally employed people. Most of the time, the banking houses wave gratefully if you ask for a loan with these requirements. The low income cannot be seen as security. In addition, the banks are concerned about how the small income wants to repay the loan. And this idea is not wrong. Because a marginally employed person earns a maximum of 450 USD per month.
What needs to be done to make a loan possible for marginalized workers
Since the income of marginally employed people is only so small that it is not sufficient for a conventional installment loan, there are various ways to improve the income so that the loan can still be put into practice. It is best to do this with a co-applicant. Because its income, which should be as high as possible, can compensate for the actual applicant’s deficit in income and thus enable the loan. In addition to the high income, a good Credit bureau should also be found with the co-applicant.
The consumer loan as a loan for marginally employed people
Another option for borrowing is consumer credit. It is ideal as a loan for marginally employed people because it places little value on high income. A good Credit bureau and an income from 400 USD is important to the companies from which such a loan is available.
How far this goes over the 400 USD is not decisive, since the items purchased are automatically considered collateral for a consumer loan. If there are problems with the repayment and there are delays in payment, companies can request the items they have bought back without having to initiate a large garnishment. Because they belong to the company until they have been paid in full.