Anyone who wants to take out a loan wants a loan without any problems. And often this all the more when your own financial situation is particularly tense. Also banks advertise with the words credit without problems. However, it is advisable to look at precisely these offers and to compare them with others.
Credit without problems
Anyone who has ever applied for a loan and has received a refusal, or even several, often has a significant grudge against the banks. But even the banks have legitimate interests – and also want a loan without problems. If so, you might think everything should be easy.
To get to the bottom of the problem, it makes sense to take a quick look at the legal basis of credit – usually a installment loan. Because this is how it becomes possible to understand the interests of the bank: To know for yourself, what is important to the bank and to prepare accordingly.
A look at the legal situation
The installment loan is legally based on a loan agreement: a so-called mutual contract: Two contracting parties undertake to provide on the one hand this loan amount – and on the other hand that benefit – installment. In the contract, all other conditions are fixed: The Amount of interest, possible additional costs and perhaps also the obligation to take out residual debt insurance.
While the bank meets its obligation / disbursement of the loan amount at short notice, the debtor has plenty of time to pay the installments – and during this time even the most reliable and solvent debtor can experience circumstances that make repayment of the loan impossible – then, in the worst case, the bank goes empty-handed.
Although this is a very condensed presentation, it becomes clear that the bank takes a high risk with each installment loan. And that is precisely what it tries to minimize – first through a comprehensive test procedure. If this results in a significant increase in risk, many banks are already rejecting the application. Others require additional collateral and offset the higher risk with appropriate terms / higher interest and / or other additional conditions.
Credit without problems – realistically assess your own situation
For a loan without problems, it is of great importance to the bank, in addition to the usual requirements, to what extent the ratio of income and regular obligations / liabilities allows for installment payments at all. And if, at what altitude. And: In the context of this consideration, the data of credit entry, which enable an assessment of payment behavior, are also used.
It is often not disadvantageous to request a credit yourself in advance and to estimate quite realistically how much money you can spend on a monthly basis. And not because a circumstance lying in the future could ease the situation: “Could, would, would have …” banks are not interested. If the own credit debit bill is scarce, it should be thought about an additional security in advance.
Who owns / co-owns a property can offer it to the bank as additional security. The extent to which the registration of a mortgage is possible, the bank may be determined by an assessment of the property. Savings deposits or life insurance can also be used as collateral – however expert advice is indispensable here.
A sober assessment of one’s own financial situation and a good preparation are essential steps on the way to a loan without problems – which also does not burden afterwards.