A loan with a trainee income despite a negative Credit Bureau is only possible within very narrow limits. The article provides further information on credit options and the requirements.
Starting position – loan despite negative Credit Bureau with trainee income
The starting point for a loan in spite of a negative Credit Bureau with the trainee income is extremely difficult when considered sober. Income from an apprenticeship in no way qualifies for a serious loan. The negative Credit Bureau entry further worsens the situation. First of all, it is important to know how the negative characteristic came about and how serious the entry is.
If there is a completed entry, for example the cell phone bill, it could only be paid far too late, there are credit opportunities. Anyone who has become so indebted at a young age that private bankruptcy has been initiated will never get more credit anywhere. If a loan were granted in the course of insolvency, there would also be the risk that the debt relief would not be possible.
It is different when the debt is paid. In this case, government subsidies are still open.
Loans despite Credit Bureau to promote training
The Federal Office of Education’s educational loan is not just for students. Under the menu item Schoolchildren, state loan support can be found for various training occupations. An example of this would be the profession of a foreign language correspondent. The training period for this profession is 24 months and is eligible for funding from the start.
For example, training as an educator cannot be funded from the start. The educational loan can only be used from the 13th month of training. Access to credit support is not jeopardized by a simple negative Credit Bureau entry. The application from an ongoing bankruptcy procedure is excluded.
The loan volume can be between 1,000 USD and 7,200 USD. It is optionally paid out in up to 24 monthly installments. The annual percentage rate of interest for this loan, despite the negative Credit Bureau as trainee income, is currently 1.33 percent. (As of 09.10.2013)
Credit opportunities despite training salary and negative Credit Bureau
In principle, every trainee should be advised against getting into debt. Even the negative Credit Bureau entry should serve as a final warning to every trainee how small the capital base is. With a low income, it is very difficult to repay a loan properly.
Modest credit requests that can be repaid even with a training salary should still be allowed. Such a credit request would be conceivable, for example, in the amount of the additional vacation bonus. Vacation pay is often paid at the wrong time. Some companies strictly set June 1st, others only pay it out after the vacation pay slip. At the time when the booking for the holiday has to be paid, there is low tide in the trainees’ coffers. The advance on holiday pay offers a way out.
The credit despite the negative Credit Bureau with the trainee income as an advance from the boss has a long tradition. Not only is the generation of today’s trainees short on cash, so have all generations before them. The easiest solution to the credit problem was and is the advance.