If a debtor fails to meet his financial obligations for a certain period of time, he is considered to be heavily indebted, in some cases also overindebted. Seizures, affidavits and negative Credit Bureau entries are therefore the consequence. Almost 10% of all Germans under the age of 30 are now affected.
The reasons for debt mostly result from buying behavior, separation and unemployment. If you find yourself in this situation, it is often not easy to get a loan through the house bank despite a garnishment.
Credit despite attachment through a credit broker
Garnishments and affidavits are noted negatively in the Credit Bureau. For this reason, the house banks in most cases do not approve any further loans. This is not the case with credit institutions for personal reasons, as is often assumed. The clerks at the banks are bound by the requirements of their employers. For this reason, a loan is usually not obtained from the house bank despite attachment.
If the loan is declined, there are still ways to get a loan. Credit intermediaries try to service the possible borrowers with loans from banks from abroad. For amounts up to 3500 USD, the financial institutions do not require information about the financial situation of the borrowers.
Attention should be paid to the seriousness of the credit intermediaries
Anyone who applies for a loan despite a seizure should definitely pay attention to the business conduct of the credit intermediary. In any case, the request must be free of charge. Paid inquiries immediately suggest that the companies are financed from the income from the applications and inquiries.
Insurance taken out to secure credit should in fact only apply to the loan. Companies that offer life insurance or a home savings contract to secure loans are often only interested in concluding the side agreement. However, this usually only becomes apparent when the loan rejection is received by post after more than 14 days.
All contingencies should be considered
Anyone who decides to take out another loan despite existing debts and possible ongoing attachments must make sure that the loan is serviced on time at all times. An ongoing garnishment must be specified when applying for the loan. Failure to do so will result in punishment and fines if the loan is not paid on time. With all the money you need, it should be carefully considered whether you actually need a loan despite the attachment.