There are various reasons why a loan can suddenly become necessary. Be it due to upcoming repairs, medical expenses or other reasons. But more and more people are in temporary employment contracts and for this reason can hardly apply for a loan from a bank. The temporary and often poorly paid employment contracts make it almost impossible for banks to issue a loan directly. But getting a loan despite temporary work turns out to be surprisingly easy in a number of ways.
Credit despite temporary work from private donors
A personal loan is often the easiest way to get the funds you need. The borrower has two different options for this. On the one hand, personal loans can be organized via specialized websites, or there is a correspondingly solvent lender in the private environment.
If the borrower chooses the route via the various online platforms, there are a number of obstacles to be overcome. In order to protect customers, these websites usually require proof of a regular income. However, since this is given in temporary work, there is nothing to prevent registration via these pages. If the borrower is activated, he can formulate his loan application on this page. Here, both term and interest can be freely selected. However, short terms and very high interest rates are the key factors for success. If a lender has found the offer, the loan agreement can be concluded directly on the website.
Anyone who alternatively finds a private lender in their own circle of friends or family often has clear advantages. These lenders generally charge little or no interest, so the loan can be particularly cheap. In addition, the speed of lending is often very fast because there are no checks to do. Here, too, it is advisable to draw up an informal loan agreement, since this both guarantees the legal certainty of both parties and leaves a better impression on the lender.
A loan from the bank despite temporary agency work
If a borrower wants to get a loan from a bank despite a temporary employment contract, this usually only works via collateral. Long-term investments such as life insurance or the like or a guarantee are particularly popular and easily accepted. If the borrower offers his investments as collateral, these are transferred to the bank for the duration of the loan in the process of so-called assignment, so that the bank can make these collateral in case of outstanding payments to settle the borrower’s debts.
If a guarantor is brought in, it must meet all the requirements for a loan. He must therefore have an unlimited employment contract, earn enough and must not have any entries in the Credit bureau. Such a guarantor is included in the loan agreement and undertakes to pay the loan with his own assets if the borrower is unable to service the loan.
So it turns out that despite temporary work, a loan is easily possible if the borrower is willing to invest a little more effort or work in obtaining the loan.