Anyone who is unemployed or currently looking for a job not only lacks a job, but also money. The easiest way to get money quickly is by means of a loan. But do you get a loan without work at all?
Unfortunately, the answer is no, because: Those who have no work do not have a fixed income – and every reputable bank requires this as a solid basis in addition to other requirements. From the banks’ point of view, the reason is quite simple and can be seen in the way the banks operate, whether at a German bank or a bank abroad.
If you do not pay a loan or have regular repayments and arrears
The bank will terminate the loan and then try to pledge the loan amount. In this case, the easiest and cheapest option for the bank is garnishment – only: If there is no salary that can be seized, it is difficult. And unemployment benefit and unemployment benefit II is rarely attachable, since unemployment benefit II and often unemployment benefit I are below the garnishment-free limit.
Amounts below the garnishment exemption limit can therefore also not be seized – so that in the event of an emergency, the bank has no guarantees that it will get the borrowed money back in any way and never see it again. From the bank’s point of view, this is of course the worst possible scenario.
Banks from abroad that grant loans in Germany
Often advertised with advertising names such as “Credit with Credit Bureau” link a fixed income to the granting of these loans, because here too one would first seize wages in the event of a default therefore also require this as security. The remark “Credit Bureau free” is purely an advertising trick – because Credit Bureau does not exist abroad, so it is not queried.
However, loans from abroad are granted to Germans as well as to customers who live in the bank’s home country: You have to provide proof of a fixed income, which must be sufficient. Otherwise you cannot get a loan.
There is only one form of credit without work: Under certain circumstances (hardship), the employment office can make part of the payments as an advance. Although this has the character of an interest-free loan, it is only partially. Because these are rarely large sums, but only small amounts to cover the most necessary general costs (eg for tickets or food).