Loans are the common way to successfully bridge financial shortages in the short or long term. As a result, every person is also entitled to a loan from the bank of their choice, provided the necessary conditions can be met. Similar to how the borrower requires a certain amount of a loan, the bank also has claims against the borrower.
So he has to repay the borrowed amount including the accrued interest on time and in the agreed installments, otherwise dunning costs may arise and even a garnishment procedure can be initiated. The candidate must also provide the bank with a number of guarantees before borrowing. Specifically, this is the bank’s creditworthiness evaluation, which the potential borrower must successfully pass.
Take out a loan despite Credit Bureau
During the evaluation, the current income situation with the regular costs incurred by the borrower and other collateral, such as checking the Credit Bureau entry, is adequately checked. Overall, an internal formula of the bank is used to determine whether the borrower is even able to repay the loan.
In addition, a credit line is defined, which is used to define the maximum number of loans a person can have. It is therefore difficult to take out a loan despite Credit Bureau and as an apprentice, because trainees have an income that is far too low and the bad Credit Bureau further reduces their creditworthiness.
Borrowing money as an apprentice – just how?
Despite Credit Bureau and as an apprentice, the loan can only be taken out through a regular bank if the borrower can provide additional security. The most well-known security, and certainly also the one that is used most frequently by trainees, is the presentation of a guarantee. With this guarantee, trainees can significantly increase their own liquidity, since the guarantor’s income is now added to the loan.
Parents or grandparents generally act as guarantors for trainees and other young people. However, this guarantee is only possible if the guarantor himself has at least average creditworthiness or an average high credit line.
In spite of Credit Bureau and as an apprentice, a loan is usually simply rejected in advance without bringing up another person for the loan, so that the respective person never gets paid the sum. The reason is simply the bad creditworthiness of the borrower / trainee.
Due to the fact that the apprentice’s income is very low, the bank sees no scope that a borrower can use to actually repay the installments to the lender in due time and in full.