A loan with 400 Euro income does not show a coherent credit picture with a sufficient income. When loan with 400 Euro wage several difficulties arise. pennyashton.com has details
With the low salary, the bank does not have the necessary plan security and will not approve a loan. If a loan is made, it will be a mini loan.
The most important thing in keywords
- A 400 Euro job is not suitable for securing a standard installment loan
- Unless it’s extra income, in addition to the main job or the loan is additionally secured
- Check your individual credit chances with 400 Euro income – quite simply and without risk
- Right now make a non-binding loan application
Credit with 400 euros income – Credit
Anyone who applies for a loan and only proves to have 400 euros in income will only get a loan under certain conditions. In general, the income is not high enough, it shows no attachable share.
This is not enough for life, which causes many to apply for social benefits. However, these social benefits can have a negative impact on a loan.
The Social Welfare Office will consider the loan as a fortune and will not continue paying the benefits. 400 euros from a main job are therefore not sufficient for the loan is secured.
The bank could not seize in case of emergency. That is why it is just the house banks that wave at a loan with 400 euros income.
Here the Internet shows other possibilities.
Credit with 400 euros income – collateral
Prospects of success could bring so-called collateral. The bank needs a borrower whose income can be secured in the event of a loan default.
But that’s not possible with 400 euros. Therefore, the bank offers to name a guarantor.
With a guarantee, the credit could succeed because the guarantor continues to pay the installments in the event of a credit default. As with guarantees with high loan amounts, the loan with 400 euros is expected rather with a small loan amount.
As a result, the guarantor has less risk. Nevertheless, he must have a sufficient income, a clean private credit and a permanent position.
The bank will examine this comprehensively. However, the question arises as to how high the installment amount may be, so that it can be paid with the low income.
If the 400 Euro income comes from a side job, the situation looks very different.
Income from the main job and the part-time job
Here is a very different credit picture. However, both incomes must also be above the attachment exemption limit.
If this is the case, a loan without collateral can also be approved. Loan seekers should first question whether the income from the part-time job is also counted towards the income from the main job.
If the income is sufficient, the customer can search for a suitable provider with a credit comparison. Pay attention not only to the interest rate, but also to additional benefits such as special payments or installment breaks.
The amount of the credit installment should be set to match the income. Thus, a long term low rates and a short term high rates.
The customer only learns the personal interest rate when he makes a credit inquiry. The loan could also be made if the partner who has a sufficient income joins the credit agreement.
Bad private credit – credit with 400 euros income
If a bad private credit is added to the low income, the situation seems to be completely hopeless. Nevertheless, it depends on which entry it is.
If he is more lenient, such as a forgotten bill could still succeed in a credit, as long as there is a lender who does not require an income of more than 400 euros. If it is a serious entry, such as a wage garnishment, the credit is hopeless.
No lender will provide a loan under these circumstances. Usually, credit seekers with bad private credit can switch to a foreign loan, the Swiss loan.
There the private credit does not matter. But the bank is placing high demands on income.
So alone at the 3500 euro credit as a single person net 1150 euro to be earned. If only two people live in the household, the income limit rises to 1600 euros.
Thus, the debt-free loan is also not an option.
Credit with 400 euros income – the alternatives
If you want to buy things of daily life from the loan with 400 Euro income, an installment payment from the dealer can also help. There are the electrical wholesalers, the mail order companies, online shops or other retailers.
These traders usually do not ask for the amount of income. It is often sufficient to present a bank card or credit card.
However, the private credit must not be burdened. If you are an existing customer in the mail order business, you can then shop for goods of up to 1000 euros without the need for a proof of credit.
But just these traders quickly ensure that the private credit receives negative entries. If it comes to a rate failure, the private credit is reported.
The goods are the property of the merchant until the loan is repaid.
Credit Loan – Alternative to the loan with 400 Euro income
If money is regularly added to the checking account, customers can receive a credit line. Usually, banks grant three net salaries as a limit.
However, if the bank is transversely and does not approve the MRP, another provider should be sought. For example, Echo Bank offers a free online checking account, which already has an interest-free dispo of 50 euros.
But even with a small Dispo this should only be used for a short time. Banks calculate overdraft rates in the double-digit range.
Credit from private to private – Credit marketplaces
A new trend in lending is presented by the portals Creditend and trucredit. Loan seekers are brought together with private investors on these portals.
A lending decision of private investors is under a very different picture than a regular bank. Nevertheless, it must be ensured that the loan can be paid.
The customer creates a profile and brings his credit wish trustworthy and understandable. If confidence is taken, some of the residents may submit bids until the loan amount is reached.
If you can not find another lender, you should try it. The process is only chargeable when a loan is made.