Are you currently looking for a loan during the separation year? Now you’re wondering if lending is going smoothly or is going to be problematic? Who is responsible for the loan and what should be targeted?
We support your project with information on credit requests during the separation period. Lending is unlikely to be as easy as it used to be as a couple. As the applicant, you are solely responsible for the loan. Find out how your credit can go forward and what pitfalls you can expect.
Credit during separation year – starting point
People living separated look for credit during the separation year for two main reasons. The partner who has moved out of the shared apartment must set up his household again. The partner who stayed in the former shared apartment wants to change things in order to feel good again. Both are also likely to need money for the divorce lawyer and court costs.
Overall, the starting point for lending is not necessarily inviting for lenders. Every divorce is very risky. Many rose warriors fight to the knife. Even the cat, which was unloved by both partners and closed years ago, can become the central point of a legal dispute. Attorney and court fees can plunge into high debt for years to come.
The repertoire of warfare extends to the destruction of one’s own financial existence in order not to pay maintenance. No credit institution can assess how the individual divorce case will develop or whether the rose warriors will reunite. The only sure thing about the credit during the separation year is that nothing is safe. This is exactly where the problem begins.
Credit security issues – regular bank credit
People looking for a loan in the present always see the Cream Bank as a “benefactor” for the low consumer interest rate. In principle, that’s true. Credit institutions offer loans like “sour beer” and even give out large, cheap loans. (Keyword real estate boom). However, once one looks at the profit prospects – per approved loan – the situation is anything but rosy.
There is not enough profit left to take real recognizable credit risks. Any possible write-down, due to too loose a loan, could have a noticeable impact on the balance sheet. This would not only risk loss for the bank, but also access to Cream Bank interest-free money. Offers for lending with higher risk, loans for the self-employed or people with higher debts have been on the decline for years.
Unfortunately, exactly in this spade the desire for a loan during the separation year counts. The credit institution must not assume that the lending will be secure, simply because of the process risk. Even the general refusal of credit, formulated in the application requirements, must be expected. Despite the separation, the couple is still married. Married persons, according to the application provisions of some providers, can only apply for credit together.
Escaping the credit crunch – regular credit
The best recommendation that anyone who has been divorced can do the divorce as peacefully as possible. Paying for a “dirty” divorce for years isn’t worth it. If there are signs of a peaceful divorce, even a potential lender may be more likely to find trust. The litigation values are not so high, legal advice costs and court costs are cheaper.
With a home loan, a department store loan could be easier to approve than a regular bank separation year. In contrast to the house bank, the specialist financier does not know the problem. With regard to easy lending to promote sales, the credit check won’t go into great detail. A clean credit bureau and proof of income are usually sufficient.
If online credit is to be applied for in the separation year, it must be ensured that the credit bank does not provide for joint application for married couples. For regular direct bank loans, most credit institutions expect a net labor income above the attachability. Any child benefits, as well as other social benefits from the state, are not recognized as proof of income by most credit institutions. This income is automatically attachable.
In the phase of financial uncertainty, the loan application with a guarantor or co-applicant could be helpful. The co-applicant’s good credit rating ensures that lending is not a financial adventure to lenders.
Loan in the year of separation – problem loan
cream bank is an excellent contact point for consumer loans of all kinds. The credit brokerage portal enjoys an impeccable reputation and shows that credit brokerage can be successful at a serious level. cream bank arranges bank credit for the borrower free of charge via the connected extensive loan comparison. You can find loan offers that match every creditworthiness that can be approved via the credit comparison of cream bank.
For problem-laden credit during the separation year, private lender credit could be a solution. Private investors choose their lending with more gut feeling. Statistically, every second investor is already divorced and remembers how hard the separation year was financially. A certain “benevolence” of investors can therefore be assumed.
Nevertheless, in the case of loans from private investors, economic indicators also count towards lending. In addition to the neat, understandable explanation of how the loan should be repaid safely, it is advisable to activate the free certificates. A positive overall picture enables credit to be granted during the separation year even if banks have already rejected the request.