A loan for Hartz 4 recipients without credit bureau is certainly not an easy task. Because even if no credit bureau information is required, the regular income is still missing. which is at least required by banks to secure the debt service over a long period of time. The possibilities are limited, but still available.
The situation – is a loan useful at all?
Before you even think about a loan for Hartz 4 recipients without credit bureau, your own income situation should be made clear: What income is available and will it change in any way in the future? It should be calculated exactly what monthly additional costs would have to be handled as a borrower, should a loan be granted. Those who find no answers to these questions would be wise to reject the idea of borrowing from the start. Unless one wants to fall for dubious offers or risk serious problems due to over-indebtedness.
If the loan for Hartz 4 recipients without credit bureau at a bank to be completed, you will receive a rejection very quickly. Usually the credit bureau entry is sufficient for this, the missing income makes the situation only more hopeless.
At least this is as long as one would like to apply for a loan alone and without outside help.
Increase the chances: guarantor and co-applicants
Because it is impossible not to get a loan for Hartz 4 recipients without credit bureau. If you find a person who is willing to vouch for the repayment of the loan, the loan can often still be applied for. The only important thing is that this guarantor has exactly the revenue that is expected from the bank to secure the debt service and that there is no negative credit bureau entry. If both conditions are met, it is almost impossible for the loan to be taken up.
The alternative to sponsoring is found in a co-applicant. However, the same conditions apply to credit bureau and income. In contrast to the guarantor, the co-applicant ensures from the outset the debt service, ie repayment and interest payments. Co-applicants may be close relatives or their own spouse. For banks, it only matters if enough income is available to meet their regular payment obligations.
An alternative: the trade credit
Many traders offer loans that do not require any consideration of the financial situation of the borrower. However, borrowing is always associated with the purchase of a particular commodity. The payment of the purchase price is made either in installments or after a certain term, such as a term loan. The purchased goods themselves serve as collateral. The latter remains the property of the trader until the complete payment is made and only passes into the possession of the borrower. The trade credit is one of the few options left over for a loan for Hartz 4 recipients without credit bureau.