Anyone who has had experience with a lightning credit knows that they have to pay attention to a few things. So the name Good lender is tempting, but very few people know exactly what is behind it.
What exactly is a lightning credit?
Anyone who has had no experience with a lightning loan does not know exactly what it is about. A lightning loan always promises a quick payment. But is that always the case? Many wonder how such a loan is processed. This is realistically easy to answer.
In the case of small loans in particular, as the loan amount is not higher than 5000 USD, quick processing is guaranteed. Especially when the customer makes an application to his house bank, there will be fewer problems or checks. The bank knows at a glance whether there is an income and how much.
This salary can be used because a repayment rate must be agreed. The bank can also see whether garnishments have already been debited and what the income is.
If it is a permanent job, where the income is above the garnishment allowance, a decision on a lightning loan with experience of the bank is quickly made. Anyone who has no experience with the bank on a lightning loan must know that low-wage earners will not have it easy.
It is not uncommon for a surety to be requested here so that the lightning credit can be paid out with experience. This is very often the case in this country. It looks different abroad. No Credit bureau is checked here, so that the customer only has to have a regular income of a reasonable amount. The difference with a foreign loan is very simple. A lightning credit without experience can only be taken up here if the customer is of legal age and is registered in Germany.
What problems can be expected?
Especially when the customer can prove little or no salary, the problems when applying for a lightning loan start without experience. Unemployed people will not get a credit, not even an overdraft facility. You could not even pay for the repayment with the social benefits, because the money is just enough to survive in a month.
Low-income earners only get a loan if they have been adequately checked and have collateral. In the case of German banks, these guarantees are usually guarantees and life insurance. Anyone who cannot find both will not receive a loan.
In the case of minors, the law stipulates that either a parent or guardian ensures that the lightning credit is redeemed with experience. The latter must also sign the contract for the minor from the bank. If, for whatever reason, the payments are no longer received by the bank, the guarantor must pay for the installments.
It is only with this security that the bank grants a lightning loan with experience, but then only as a small loan. The credit line is always adjusted to the salary so that nobody has to pay off a loan for too long.
Individuals who can only show a fixed-term contract are not excluded from lending, but they must choose the loan so that the entire amount is paid off in the period in which the employment contract runs.