Those who are looking for a loan in very difficult cases have different options. Under no circumstances should he contact a German bank or savings bank, because a loan will only be granted if the borrower fulfills all the requirements. This includes not only a secure income, but also a positive Credit Bureau: If one of these two conditions is not met and there are other negative features, it can already be a loan in very difficult cases.
Private credit intermediaries
Many private credit intermediaries have been working in this area for years and have a very good overview of the national and international credit market. However, not all credit intermediaries are reputable. For this reason, it is advisable to take a closer look at the selection and in this context to make sure that the credit broker charges any fees after the order has been placed without having already acted accordingly.
In this case, it would be better to look for another alternative and choose a credit broker where the customer does not have to pay in advance. The fees that arise when brokering the loan and at a later point in time should be fully included in the APR.
If you are unsuccessful in finding a loan broker, you could contact a private individual and try to get a loan in very difficult cases. A friend, a good acquaintance or a relative often agrees to help out here. The credit terms and repayment modalities can be regulated individually. For example, if you have become unemployed and urgently need a loan, you could pay it back as soon as you find work again.
Hartz IV recipients do not meet the requirements to receive a normal installment loan from the bank. They often also have negative Credit Bureau entries, which does not exactly make things easier. For this reason, the employment agencies and job centers have created a way to get a loan in very difficult cases.
You act as a lender yourself and grant an interest-free loan on request, which must be repaid in monthly installments and can be withheld directly from the current monthly payment if necessary. The most important requirement, however, is that there is a valid reason for lending. The job center decides whether this is the case.