Can I borrow directly with a benefit?
People who receive benefits sometimes have a cramped shortage. Anyone who receives a bill on the bus before the payment has been paid in, quickly needs some extra financial space. You ask yourself: “Can I borrow directly with a benefit?”
That question is not so easy to answer. You cannot see directly on the internet whether you can borrow money. It depends on what benefit you have and what guarantees you can offer to the lender. They mainly look at the level of your monthly income. Is your benefit stable and do you have a good disposable income after deducting your fixed costs? Then you probably qualify for direct borrowing with a benefit.
Borrow with a benefit and BKR
Some loans are easier to take out than others. For a mini loan, for example, it doesn’t matter that you have a negative code at the BKR. The lender does not perform a BKR check because they look at the level of income. A mini loan only has a short duration. That’s why they check whether you have enough disposable income the next month to pay off your mini loan.
With a mini loan you can borrow a few hundred euros, a small amount that you will pay back quickly. The maximum amount is around 1000 or 800 euros. You must have a fixed income of approximately 1000 euros per month to be eligible for a mini loan. Do you not have that many fixed costs? Then you can repay the amount quickly and you are eligible for a mini loan, even if your income is a benefit.
Interest credit and Savings credit
In addition to a mini loan, there are other forms of borrowing, such as interest credit and savings credit. An interest credit is a type of revolving credit, but your monthly repayment is limited to the interest. This applies to a set period. The lender may then decide to extend or end the grace period. Then you must repay both the interest and the loan amount until you have repaid the entire loan. An interest credit is a good way of borrowing money with low monthly payments.
A type of loan that looks like an interest loan is a savings credit. Then you take out insurance together with the loan that guarantees that you have enough savings to pay off the loan at the end of the term. Just like with the interest loan, with this loan form you have low monthly charges.
For these types of loans you need a higher income than for a mini loan: around 1400 euros per month. In addition, your disposable income must be enough to bear the interest charges.
Borrow directly with a benefit
If you need a few hundred euros to get through the rest of the month, it is best to take out a mini loan. You only need a small income for that, as long as it is stable enough. The lender must be able to see that you can repay the full amount quickly. Some benefits meet that requirement. At Geld Salon we have an article that shows which benefits you qualify for borrowing money quickly with benefits.
The application for a mini loan with a benefit is simple. Send an account statement via email to the lender. This way they can see that you have a monthly amount available to repay the mini loan to me. They need a little more information, such as a copy of your proof of identity and the costs of your monthly charges such as rent, gas and light.
The advantage of a mini loan is that your credit status is not assessed at the BKR. Have you ever missed a payment for a loan or mortgage in the past? That is no problem for taking out a mini loan. The lender will only check whether your income is high enough to repay the loan next month.
You can arrange the request for a mini loan within 5 minutes. You go quickly via Geld Salon to an application form on the website for a mini loan. You will then receive a message about your options for your application. The first time it takes a few days for the money to be in your bank account. With some providers it can also be faster, but then you have to pay extra. After you have a customer relationship with a lender, you can quickly arrange a new mini loan via SMS.
Payday loan with a Benefit
A payday loan suitable for financing a large expense, such as a new car, caravan, or your wedding. The amount becomes available quickly, and then you repay it monthly over a fixed term. The duration is usually 5 years. This keeps the monthly amount affordable and has little influence on your monthly budget.
For a payday loan, the lender does a credit check at the BKR in Tiel. That’s because you repaid the loan over a longer period. You must be able to maintain the monthly repayment for 5 years. That means that your financial situation must be stable. It must also appear that in the past you have met your payment obligations properly. Those who do not can not take out a payday loan or mortgage again. People with a low income, such as benefits, should opt for a red bank at the bank or a mini loan without a BKR check.
Borrow Money Without BKR Testing with Benefit
For borrowing money with a benefit you must first look at your financial situation. Only then is it justified to apply for a loan. If your income and other guarantees are not sufficient for a mini loan, your application will be rejected. So first check whether you meet the conditions. It increases the chance that your application for a mini loan will be accepted. Proper preparation saves you time and effort when applying for a mini loan.
Borrowing money without BKR is no obstacle if you have missed a monthly repayment in the past. You are therefore not excluded from a mini loan. That is because the conditions for a mini loan have nothing to do with your BKR code. The lender does not even look at that. They look more at the level of your income and your fixed costs. That determines whether you can repay a mini loan.
This way you can still borrow an amount. Resolving a temporary financial shortage is quite possible with a mini loan of a few hundred euros. It is fortunate that the private lenders are more flexible in providing a loan. The BKR is intended for long-term loans such as a payday loan and a mortgage. But most minor financial problems are temporary. You can solve that quickly with a little red at your bank. Or you can take out a mini loan without an BKR test.
Credit Without Payroll
Whoever receives a benefit has no job, so you will not receive a payslip. But when you apply for a mini loan, the lender would like to see a payslip. That is because you must have a fixed income for a mini loan. That is a guarantee for the lender that you can also pay off the amount of the mini loan.
A solution for the absence of a payslip is that you ask a friend or family member to guarantee your mini loan. That is a good way to limit the risk for the lender. If you and your guarantor know that your payment is sufficient to repay the mini-loan, that is a good solution. This way you can temporarily borrow a few hundred euros to get through the rest of the month.
Please note that you are sure that you can repay the loan yourself. If you miss the final repayment date, the lender will claim the amount from your guarantor. That is of course annoying. It can put your relationship under pressure. Therefore, try to plan your expenses well this month. Then you can repay the amount on time and remain good friends with your guarantor.
Some benefits are stable enough to borrow money quickly with benefits we have listed those benefits in this article. Read it quickly if you have a good chance of receiving a mini-loan with a benefit with your benefit.
Apply for a Loan with Your Partner
You can also borrow with a benefit by taking it out with your partner. Then you can add your partner’s income to your own income. This way, your household income is also higher. As a result, the lender is more certain that you can repay the loan. You can also borrow a higher amount than if you apply with only one income.
For a larger loan, recording with your partner is a risk. For example, if you are repaying a revolving credit and your relationship is broken, then you must also divide the amount to be repaid. That can sometimes be difficult if you can no longer talk to each other properly.