Temporary contracts shape the modern world of work in many areas of the economy. This development is not without problems. “Hire and fire” is possible almost according to the American model. The loan despite a temporary contract is therefore fraught with many problems. However, the situation is not hopeless. There are various ways to get a loan despite the unfavorable employment contract.
Credit in spite of a temporary contract – possibilities with the house bank
Temporary contracts are often chain contracts. The civil service in particular is characterized by its constant contract renewals. There is a lack of political will in all parties to change the situation. The loan, despite a temporary contract, is usually offered by the house bank in the form of an overdraft facility. If you are afraid of the high overdraft interest, you only have a chance to get an installment loan within the time frame of your employment contract. Beyond the time limit, the prospects for installment loans from the house bank are extremely modest.
Even in the event of repeated contract extensions, the statutes often leave little scope for longer-term repayment agreements. A temporary contract does not offer the necessary job security to be able to reliably fulfill long-term obligations. The Internet and department store loans offer better chances for an installment loan.
Credit in the simplified verification process
Small loans, as they are often advertised by online providers, are comparatively simple in the approval process. A normal Credit Bureau and the last three salary slips are usually sufficient for the application. There can be problems with the loan amount. Small loans, in the simplified test procedure, are only granted up to an amount of around 5,000 dollars. This sum is not even enough for a good used car.
If the temporary contract can be seen from the payroll, there is still the risk of the loan being rejected. Department store loans are approved in a similar credit review process. In terms of sales promotion, there are good chances of getting the loan despite a fixed-term contract. A disadvantage is the loyalty to the provider. The loan is not freely available, but tied to the purchase of a particular provider.
Credit from private despite contract of time
Credit brokers and recently also internet portals for personal loans have specialized in granting loans in difficult periods of life. Credit intermediaries use their contacts with specialist providers and foreign banks to fulfill their credit requests. A modern alternative has become established in recent years. Human-to-human credit enables lending that banks would disagree with.
In German-speaking countries, two market leaders share the business with personal loans. Both platforms are structured very similarly and work according to a principle that is reminiscent of internet auctions. The loan request is published on the platform, and donors can now bid. Private investors are not bound by credit guidelines when they bid. They lend their money to people whose repayment ability they trust. The loan, despite a temporary contract, can be realized more easily from private customers at fair interest rates than with some other offers.