Inactive people can borrow money
The financial situation of unemployed or inactive people is often difficult. Unexpected expenses, such as a high additional payment of the additional costs, the repair of the car or the purchase of household appliances, present that group of people with an almost insoluble insolvency. In such a delicate situation, unemployed people usually find the last resort.
Positive aspects of a loan for inactive people
In the eyes of conventional credit institutions such as the in-house bank, the unemployed and the inactive have no regular income, which offers security with regard to the repayment ability of the borrowers. Therefore, there is a poor chance for this group of people to get a loan application at all.
Although unemployed receive a monthly payment from the job agency, the banks do not consider these funds as income.
In order not to leave this group of people out in the rain, a so-called unemployment loan was introduced. In principle, the loan is not very different from other types of loan. Only the restriction regarding regular income is waived. Furthermore, the terms of a loan for the unemployed or inactive prove to be extremely advantageous. Borrowers not only benefit from low interest rates, but can also adjust the borrowed amount to their own financial situation.
Disadvantages of a loan from an institutional bank
It is not easy for those receiving unemployment benefits or reform to get a loan from a bank. In addition, in-house banks often charge high interest rates due to the risk situation with regard to the repayment of the loan amount. Furthermore, the range of loans is not very large. Online lenders are therefore a good alternative for a loan application.
Perform online loan comparison
In order to benefit from the best possible contract terms, unemployed and inactive people can carry out a loan comparison. All that is required is to enter data such as the desired loan amount and the contract term in the comparison calculator. In a flash, loan seekers receive the cheapest offers and can save money by financing their loans.