Taking out a loan can be very useful for the borrower. This sum can be used to finance a car, make larger purchases and pay bills. A renovation or new home furnishings can also be paid for with the loan. However, a loan is often rejected, especially if it is an installment loan despite unemployment. This is where the good will to apply for a loan ends, because it is not possible!
Who can take out a loan?
In order to be able to take out a loan, a credit rating must be available. Regular income is one of the most important factors. The unemployed receive payments to the account on time, but they are not counted as income. It is social benefits that are provided. The first important main factor is thus eliminated. Without income, no bank can be sure that a loan will be repaid.
The unemployed will just get along with the unemployment benefit because it is tight. So there is even money left to pay off an installment loan despite unemployment. Banks earn money with loans, which they naturally want to have again. If there is a risk, no reputable bank will agree to grant an installment loan despite unemployment.
Apply for credit online or abroad
On the Internet, consumers can find many providers who grant a loan. Here and there are even those who offer an installment loan despite unemployment. These cannot be reputable companies because they often speculate on selling insurance. In the end, the applicant then has insurance, but still no credit. Loans that do not work with Credit bureau can also be offered abroad. However, consumers must provide proof of salary here. Without this there will be no credit. Since unemployed cannot provide this evidence, this option is also not available.
Out of the financial misery
An unemployed person will not have many options to get out of the financial misery. For one thing, a job should be found as quickly as possible. This path is not always easy, but it is often the only way to get money. If necessary, a small loan can be taken out privately or the pawnshop can be visited. Only in this way can a little money help at least in the short term, but it is not a permanent solution that can be considered.