As a low-income earner, you are not necessarily the darling of banks.
Neither can you have a full account that offers enough money with which the bank can work. You are still welcomed with open arms if you want to borrow money in the form of a loan. Because where there is no money and little income determines everyday life, no support can be expected from the banks and savings banks.
This is very uncomfortable for those affected, because they, who do not have much and have to turn every cent twice, are so dependent on financial support to be able to lead a reasonably decent life. But the banks only grant the loan to low-income earners if they are looking for a guarantor or an additional borrower who takes out the loan and secures it with his signature.
So it goes without help
However, many consumers do not want to seek assistance when taking out a low-income loan. They want to do this independently and don’t want to involve anyone in their financial concerns. On the one hand, they are embarrassed that they need help. On the other hand, they know very well that in the event of default, the guarantor or the other would be prosecuted and would have to pay for their debts. And they don’t want to take on this responsibility.
One way on the way to a loan for small earners who can do without the support of a second person is consumer credit. This is offered by many retailers and is an installment payment agreement that comes into force when you have bought something from the relevant retailer that you would now like to have financed. The consumer loan is therefore a dedicated loan, which is not freely available and which is tailored precisely to the purchase in terms of its loan amount.
It is offered by dealers who operate locally or on the Internet. What is special about consumer credit is the fact that it is ideal as a loan for small earners. In this case, income only plays a secondary role and does not significantly determine whether the loan can be taken out or not.
With a consumer loan, it is important that there is income of at least 450 USD per month. This can be done as a low-income earner. On top of that, maintenance or child benefits also count as income, which means that even with a very small income, the requirements for borrowing can be met with the help of other sources. If you also have a positive Schufa, you will not have any problems with realizing a consumer loan.