Nobody is safe from a serious illness. If this then falls even at a time when a loan is required. See gracemccook.org for the scoop
A loan must be taken despite sickness benefit .
A task that should not be underestimated. For those who receive sickness benefits receive social benefits.
And these do not actually entitle you to take out a loan.
Despite sick pay credit – short version
- Sick pay basically does not qualify for unsecured bank credit
- Low-interest loans from direct banks for two persons are possible
- Likewise conceivable a self-responsibly borrowed from private
- Check your credit opportunities safely and comfortably
- Apply for a non-binding credit requirement in comparison
Subtleties – Credit despite sickness benefit
Those who receive sickness benefit face a special life situation. A serious illness that does not allow for regular work determines everyday life.
Credit despite sickness benefit – immediate help with mini credit
Add to this the fact that financial bottlenecks make borrowing necessary, the situation comes to a head. Several problems have to be dealt with promptly and in parallel.
Not always easy in such a situation. A loan despite sickness benefit is not an easy task.
The banks and savings banks require the presentation of proof of income. Since the sickness benefit can not be counted as income, no corresponding documents are available.
When borrowing, therefore, special ways must be gone for the support of a bank is possible. In addition, it must be considered very carefully whether a loan is really necessary in this phase of life.
Because not always this fits as well as it is assumed.
When will sickness benefit be paid?
Sick pay can be paid if a worker has been ill for more than six weeks. Then the employer no longer has to pay a salary, but the health insurance company assumes the benefits.
It is important that the sick leave applies to a single illness. The sickness benefit is therefore not paid if, for example, the patient suffers from a severe cold and then back pain for four weeks.
Only a single illness over the appropriate period, is entitled to sickness benefit. Compulsorily insured employees are automatically entitled to sickness benefit.
Anyone who is voluntarily or privately insured must secure their claim to sickness benefit by choosing the appropriate contribution. Otherwise there is no claim to it.
How high is the sickness benefit?
The sick pay is always based on the last income. It amounts to 70 per cent of the regular fee, maximum however 90 per cent of the net income.
Thus, it is well below the actual income and brings more or less large financial cuts with it. An obstacle when taking a loan despite sickness benefit.
Because the sick pay is a social benefit, which is limited in time and no information about how it continues after the receipt of benefits. Although the sickness benefit can be extended.
However, the health insurance fund also has the option of referring the person affected to the employment agency or the pension insurance.
Credit options for a loan despite sickness benefit
Banks are very critical about loans with a free purpose when it comes to non-fixed income. The collateral is missing and can not be guaranteed by the financed articles.
In addition, no-one knows how much longer sickness benefit will be received and what will happen afterwards. Therefore, it must be looked very carefully, which offers are even in question.
The guarantor of a loan despite sickness benefit
There are different ways to take out a loan despite receiving sickness benefits. The easiest way is through a guarantor who supports borrowing.
For married people, the bank will recommend that the spouse act as guarantor. If this is solvent, it can even happen that the bank changes the borrower and enters the spouse as the main borrower.
This can bring the desired income into the loan, which significantly increases the collateral. However, it is also possible to name a guarantor outside the family.
Not everyone is married and it is not always the case that the spouse is suitable as a guarantor. A close friend or acquaintance is also suitable as a credit protection.
It is important that the guarantor is aware of his task. He not only signs the loan but is also liable for it.
If the borrower can no longer settle the installments, the bank will make the guarantor responsible. And in full.
The loan despite sickness benefit as foreign credit?
Foreign loans are always the last anchor in the emergency. They work very well on a negative record. But what about a loan despite sickness benefit?
In all likelihood, the foreign credit will not work here. Because a fixed income is a prerequisite for such loans.
Either it is “tricked” as with a conventional loan, or the foreign credit must be postponed. The “trick” would not be worthwhile in a foreign loan, however.
Interest rates are quite high for this loan option. Who has a good record and only fails in income, should therefore take the credit in the traditional way in Germany.
This will be much cheaper and easier by the hand.