There are good times and bad times in life. Times when everything works and when we don’t have to worry about anything or only a few things. And then there are the bad times when the financial shoe may be particularly depressing and ensure that even the current account has low tide. At such times, it is important to keep a cool head, to keep an eye on financial matters and to hope for better – good – times.
A loan as an anchor in need
Especially when things are not going so well financially, a loan can be the saving anchor that stops the boat and maybe turns it in another direction. Because if you use the money from the loan in a clever way and invest in your future, you will definitely benefit from it and usher in better times.
Unfortunately, it is not so easy to take out a loan despite the minus in the account. The banks and savings banks are happy to have their bank statements shown to them and are therefore always well informed about what the prospect of financially looks like.
Nevertheless, this does not mean that there is no credit at all in the account despite the minus. But on the contrary. You just have to be a little more skilful when taking out the loan in order to be able to use the loan and the associated advantages.
What does the dispo say?
Many account holders have a overdraft facility on their checking account that skillfully intercepts the first financial bottlenecks. However, the overdraft facility is quickly exhausted and repayment is not easy, since quite high interest rates are required for the use. If you react quickly here and take out a loan in spite of a minus on your account, you can save a lot of money.
However, in order for the loan to be implemented despite the minus on the account, a little advance payment has to be made. So it should be seen that the balance in the account has recovered a little in the last weeks before borrowing. This is important to signal to the bank’s clerk that the financial constraint is under control and is not worsening. There should also be a good reason for borrowing. Anyone who is financially stricken should not take the loan despite the minus in the account in order to go on vacation, but always invest the money in the settlement of debts and in building the future. Banks like to see this and are therefore more willing to grant a loan under these circumstances.
Not at the house bank
However, if the debts in the account have already solidified and there is no positive movement, we recommend not taking out the loan with the house bank despite the minus in the account. She has access to all account documents and can therefore also see whether there have already been direct debits or whether an account attachment could be pending.
It is better to take out the loan from an independent bank. For some banks, for example, it is sufficient if only work certificates and a list of expenses are submitted for borrowing. Account statements would then not have to be presented at all and the minus on the account is not noticeable.
Act in time
A loan is only possible if the creditworthiness is still reasonably good. This means that the debts from the account must not have left any traces in the Credit Bureau. We therefore recommend that you start borrowing in good time so that you don’t end up without a loan. In addition, it is always easier to get a handle on small debts than when large piles of debt are piled up that hardly allow an overview.
It is therefore better to take out a small loan in time to compensate for the minus in the account than to wait too long and ultimately slip into over-indebtedness.