Financing requirements arise almost automatically after changing jobs. Your credit provides fresh liquidity after the trial period. The income from the new job ensures the ability to repay the loan, and the probationary period passed protects against dismissal.
In reality it is unfortunately not that easy. Despite fundamentally good conditions for credit approval, lending does not necessarily work smoothly. Our credit advisor on post-employment loans explains what problems to expect and how to solve them.
Credit after the trial period – recognize new hurdles
The earliest time to apply for an installment loan came with the loan after the trial period. During the trial work, borrowing from the strength of one’s own credit rating was almost impossible. Only after the trial period has expired will the new workplace no longer be threatened by restricted protection against dismissal. But, finding a loan is still not straightforward.
The credit terms of many regular credit providers also include the clause that a minimum period of employment must be fulfilled. As a rule, the last six months are given to the current employer. A trial period, on the other hand, could only have taken 4 weeks; three months would normally be the case. The current employer has not yet reached the minimum employment period.
In addition, the clerk asks the question of how secure is the employment relationship after the trial period? Was it just a temporary contract or the transition to a permanent, permanent employment relationship? Who is the employer Does the employee expect “hire and fire” from a personnel service provider or does the employer rarely quit, such as the father of the state?
Personal creditworthiness on the upswing – lending depends on the individual case
The decision that regular credit institutions make on the loan after the trial period depends very much on the individual case. If the trial period ended in a temporary contract, the possible term of the loan contract will not extend beyond the end of the employment contract. If the trial period ended with a permanent employment contract, this hurdle has been overcome, but the employer is moving into focus.
Employees from the temporary and agency work sector are increasingly excluded from lending across the board. The employers’ willingness to give notice prevents a loan from being classified as safe. Nevertheless, personal creditworthiness is on the upswing. If there are no negative Credit bureau characteristics, credit institutions are willing to grant a loan after the trial period. Only the models differ depending on the provider.
For example, the house bank grants a more generous planning framework. Loan offers for the installment loan with interest rate-dependent interest in the higher price ranges are more easily accessible. In particular, credit providers react quickly and cheaply to commercial loans. The typical purchase financing on installments is often easily accessible.
Small amounts of credit immediately available – fresh liquidity
In many cases, the start of work was preceded by a long financial drought. Finally, being able to afford something without paying attention to the USD is the wish of many people after the trial period. In addition to the overdraft facility granted by the house bank, other short-term loans offer liquidity without having to wait long for the money. Short-term credit is the magic word for quick credit after the trial period.
An example would be the mini or micro loan. With a term of 30-90 days, loan amounts of 100-1,000 USD would be easy to apply for. Another argument in favor of microcredit is that a possibly negative past Credit bureau does not automatically prevent lending. Even with a fixed midi job, with an income below the attachability, microcredit is granted.
Another alternative, with a clean Credit bureau, is offered by “real” credit cards. The prerequisite for the application is often only proof of income above an individually determined sum. Starting from around 600 USD net. As a short-term loan, the credit card framework enables the desired consumption. If the settlement amount exceeds the tolerable amount for the household budget, repayment can be made in installments.
Downside of every short-term financing:
The backbone of any short-term loan is unfortunately always the very high interest rate. Short-term financing is also not suitable for larger requests with a longer term.
Installment loan after the trial period – problem solving
After the trial period, arranging the old liabilities, buying another vehicle or renovating the apartment are heartfelt wishes. The low-interest requirement is a loan after the trial period with a long term. If the requested credit institution reacts negatively, the creditworthiness is insufficient for lending, and there are ways out of the credit crunch.
The easiest way would be to apply for the required regular installment loan together with a solvent co-applicant. The personal creditworthiness of the co-applicant secures the credit risk for the bank. The bank is not interested in who actually repays the loan. It was only decisive for the lending that the credit liability was taken over by a person with a sufficiently good credit rating.
Another option for inexpensive regular installment credit after the trial period is for property owners. The creditworthiness required for lending can be demonstrated, for example, by the assignment of a property charge. This credit option is particularly suitable for renovation and refurbishment requests.