Credit for mothers on parental leave

If you want to start a family or have one, you will quickly find that daily needs will increase significantly. Children’s clothing, food, diapers and furniture for the children have to be bought. School trips and excursions cost money and there is not always enough money to pay for everything. It is precisely then that people in banks often ask for a loan for mothers on parental leave, but this is not so easy to obtain.

Requirements that have to be met

Requirements that have to be met

To get a loan for mothers on parental leave, there are a few things to consider. As with any other loan, the amount of income also plays an important role here. If the mother is married and there is additional income that can be attached, the bank will have no difficulty in getting a loan. However, if the mother is a single parent, the income is often low because she either has a mini job, part-time job or none at all.

The worst case would be if there is no income at all, because banks cannot seize social benefits. Only good arguments and certainties can help to get a loan for mothers on parental leave. Banks always accept collateral in the form of a guarantee or life insurance.

In the case of a guarantee, the guarantor must have a fixed income that comes from a non-self-employed activity. In addition, the Credit Bureau must be in order to start a guarantee. Anyone who believes that they have an income from child benefit or unemployment benefit is wrong. These payments are social benefits and are not accepted by the bank.

Escape credit crunch

Escape credit crunch

In many families with children, there is no income above the garnishment allowance. It is often a question of balancing family and work. Banks always work according to guidelines that everyone must adhere to and where no exception is made. In order to still get a loan for mothers on parental leave, it often helps to look for a loan in the private sector.

The family and friends are often willing to help out with smaller sums, or a private lender is sought on the Internet. But you have to be careful here, because not all providers are reputable. Such loans should be avoided if the loan can only be taken out in connection with a life insurance policy.