Getting a loan despite contract workers doesn’t have to be difficult. If optimal conditions are created, a cheap installment loan is also possible. This guide reveals how this is possible.
Contract credit despite contract workers
This form of credit is rarely welcomed by local banks, as temporary agency work is often underpaid and temporary agency workers do not enjoy comprehensive protection against dismissal. But as difficult as it may be in some cases, there is no need to resign because it is not hopeless. Instead, the possibilities should be explored and the credit opportunities opened up.
This starts with the employment contract and the amount of income. Installment loan offers generally require an unlimited employment relationship and an income that is above the garnishment limit. There are also companies that offer their temporary workers permanent contracts, because this is not uncommon.
This would of course be the first hurdle for applying for a loan. The amount of the garnishment exemption limit can be read from the garnishment table, which is published on various pages on the Internet. If the income exceeds this limit, the basic credit requirements are at least met.
Get rid of difficulties with installment loans
Even in the event of difficulties with a loan approval, the low interest rates need not be unreachable. A query about the reasons for the rejection can clarify a lot. Perhaps the loan amount is too high or the term is too long. Some factors could change and therefore lead to credit approval.
In many cases, changing the credit provider is enough to achieve better chances, since not every credit institution evaluates according to the same criteria. Nevertheless, you should not make unnecessarily many applications, because every refusal of a loan is reported to Credit Bureau, which worsens the credit opportunities with other providers.
A pre-loan request, however, is not recorded in the Credit Bureau. Should it prove to be difficult, a solvent guarantor or a co-applicant can pave the way to the loan despite temporary workers. High-quality security could be an alternative to a guarantee.
Consider all credit options
If a normal installment loan does not work and no guarantor is available, credit opportunities still remain. These should be sought, because hardly any loan should not serve any purpose. If, for example, the reason for the loan is the desire for furniture, then the mail order and merchandise loans are also suitable. These are given on very simple loan terms. The prerequisites often only include a working income and a clean Credit Bureau file. Even a temporary worker can easily meet these conditions.
If only the loan is interesting despite temporary agency workers, there are also financing options outside of the commercial credit systems. Private lenders have proven themselves over the past few years, although contact with private investors does not have to be sought. This can be created via one of the numerous portals on the Internet. The loan attempt is often free of charge.