The income of a bank customer is an important factor used for lending. It does not matter where the money comes from. Much more important is the amount of monthly cash receipts. However, these may not come from employment offices or social services. These are cash receipts that are not sufficient for lending.
Loan for part-time workers
There is a professional group that is now increasingly represented: the part-time workers. This market is booming. Some value their free time, which they get through a part-time job.
For others, however, it’s just an emergency job until they find a full-time job again. You would rather have a part-time job than have to live by Hartz 4. But what about a loan for part-time workers?
Well, that depends on the amount of income. A part-time worker in a managerial position, of course, earns significantly less than an employee or employee with the same working time.
Decisive for the banks is not the job as a part-time worker, but what the bottom line is on the salary slip. It is therefore quite possible that a part-time worker gets a loan approved.
Why is the salary so important?
The salary has a special significance for banks. First of all, it is proof that the borrower is in employment and thus has monthly cash receipts. But that’s not all. Unfortunately, there is also a downside to the medal.
Too often, borrowers can no longer pay the installments. First, the bank will try to agree with the borrower in some way. If this does not materialize, the foreclosure takes place.
Now the bank can ask the employer for the attachable amount of salary or salary. But this happens only on a court order of the district court, which is responsible for it.
This is anchored in the ZPO (Code of Civil Procedure). This is precisely why the salary is so important. For the bank to be secured, the borrower must earn so much that after a seizure, there is still enough left to make a living.
This is often a problem for part-time workers, as their salary for part-time workers is simply insufficient. But part-time workers in higher positions have no problem with part-time workers. Here, the salary should be quite sufficient.
Not only among the part-time workers does the salary play a role. Full-time employees also need to have some income in order to get a loan. Without a regular income, the individual is literally marginalized from financial life, because there is not even a cell phone or TLS contract.