The desire for a loan during the trial period can turn the loan search into a gauntlet run. With some background knowledge, unnecessary loan cancellations can be avoided. The amount illuminates options for the loan despite the trial period.
Loan in the probationary period
From the perspective of many people, the new job is a professional challenge and an opportunity for the future. The financial constraints of unemployment are finally a thing of the past. After a sometimes long period of refraining from consuming, the desire for a loan is understandable. With the new perspectives in the job, long-delayed investments can finally be tackled. Most have no worries about being able to repay the loan.
After just a few weeks in the company, the feeling grows that the requirements of the new job can be mastered safely. With a view to the first pay slip, a loan for the renovation or the necessary renewal of the vehicle would finally be possible. The rates appear to be affordable, and necessary investments should no longer have to wait. An opportunity for a normal loan is severely limited with the trial period.
The loan officer is unfortunately not allowed to fully share the euphoria about the new job. He must keep an eye on credit security. During the trial period, which usually lasts six months, the earned income cannot be classified as safe. Depending on the contract concluded, the termination of the employment relationship is possible without problems within 14 days.
When are there credit opportunities despite a trial period?
There are only a few promising credit options under your own steam. A loan can easily be granted after the trial period. If you don’t want to wait that long, you can ask a solvent guarantor for help. Ultimately, he bears the liability risk through the loan guarantee.
As an alternative to a guarantee, real assets can also make the credit risk acceptable for the financial institution. The assignment of a capital-forming life insurance policy can be used for many purposes. The loan request of many providers can now be fulfilled in the amount of the surrender value.
If it is only a matter of a smaller loan request, interim financing via the current account can be a way out. Giro overdrafts are easier to grant than an installment loan. With this credit option, however, the high overdraft interest should be considered. More than one interim financing may never take place through the overdraft facility. There is also a real risk of being terminated during the trial period. In this case, the self-established debt trap snaps shut.
Personal credit – a modern way out of the credit crunch
Help with finding a loan could be provided on a professional level by a loan broker. Unfortunately, this way out of the credit crunch is not necessarily cheap. Interest rate offers are often marked with risk premiums. The alternative through one of the portals for private lending could make more favorable conditions possible.
A loan during the trial period can come from private donors. The business with private lending is only comparable to a limited extent with commercial money lending. Investors’ credit decisions still have human traits. If the legal framework is complicated by bank regulations, the lender will be restricted in his decision.