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January 2020

Loan for civil servants for life

If you want to take out a loan for civil servants for life, you are certainly one of those customers who get the best possible loan conditions from the banks. Because civil servants have no fear of a pension gap, nor are they affected by the significant deterioration in protection against dismissal for industrial workers. With a loan for civil servants you should therefore pay attention to the following:

Provide clear information in the loan application

Provide clear information in the loan application

The clerk at the bank processing the loan application cannot infer what professional status an employee has in the public service. If you are an applicant in the civil service, you are in a temporary position (such as for a temporary soldier) or you have already been appointed as a civil servant for life.

This information will have a not inconsiderable impact on the monthly income and creditworthiness. Make sure to provide the correct information, because no one can deduce the exact professional position from the employer information (e.g. senior finance directorate).

Starting from today’s pay group

Starting from today

Otherwise, the decision of the borrower is much easier than with many others: the pay groups and tariff levels are fixed and with the exception of one official post, which may be transferred to the test for 6 months, a downgrading to a lower level is the absolute exception.

Therefore, with a loan for civil servants for life, you can usually assume the existing income situation and update the monthly budget balance with a clear conscience. If you then set a monthly rate that is not too high, borrowing and monthly repayment will be very convenient and easy.

Young officials should consider maximum amounts for the loan amount

Young officials should consider maximum amounts for the loan amount

Public sector borrowers should, however, observe some internal regulations and instructions for which they can obtain further information from the personnel department. Since the insidious attacks of September 11, 2001, the circle of officials who have to pass a security check under the Security Check Act has been expanded. This provides for orderly financial relationships – even after being hired or taken on into the public service. Therefore, a real estate loan or a private customer or consumer loan is perfectly ok.

However, if this leads to extensive and excessive visible consumption, the official should warn his professional environment easily and carefully. Before there are misunderstandings about the revenue situation. Otherwise there is nothing standing in the way of a loan for civil servants for life.

Instant credit without Credit bureau in 24 hours payment.

Instant loans are becoming increasingly popular. Favorable conditions and convenient registration from your own PC contribute to this popularity. The fast processing of these loans is also gladly accepted. There are often only 24 hours between the loan application and the payment.

To benefit from this quick payout, the borrower must have a good credit rating. In addition to sufficient income, this also includes positive Credit bureau information. But the borrower who has negative entries in his Credit bureau can also get an immediate loan without Credit bureau in 24 hours.

The instant loan without Credit bureau in 24 hours payment and the prospects

The instant loan without Credit bureau in 24 hours payment and the prospects

The instant loan without Credit bureau in 24 hours payment can only be made through a credit agency. These credit intermediaries work with Swiss banks whose credit transactions do not provide Credit bureau information. No approved loans are reported to Credit bureau. In order to apply for an instant loan without Credit bureau in a 24-hour payment, an online form must be completed at the relevant credit intermediary. After sending the form away, an offer will be made within 24 hours, but it is not binding.

Since the loan request is subject to a complex process, the loan amount cannot be paid out in 24 hours. As soon as all the requirements for an instant loan without Credit bureau have been met, the applicant will receive the credit contract by post. The signed credit agreement must be sent back to the bank with proof of wages and possibly also bank statements. Once the documents have been checked, the loan amount is transferred to the specified current account, but can also be paid out in cash.

The conditions

The conditions

The most important conditions for an instant loan without Credit bureau are a regularly incoming and correspondingly high working income. The borrower must also have a permanent employment contract that has been in place for at least 12 months. In addition, the regulation for an instant loan without Credit bureau in 24 hours payment states that the borrower must be a German citizen and should be resident in Germany.

As proof of their creditworthiness, the loan seeker must send the last two pay slips or a copy of the ID card to the lender. If these requirements are met, a Credit bureau-free loan of USD 3,500 can be granted. With a high income, a higher loan amount may also be possible. With this type of loan, care should be taken to ensure that no upfront costs are charged. Reputable credit brokers only charge their fees after the loan has been paid out.

Consumer credits: spectacular growth in 2019

Consumer credits show spectacular growth quarter after quarter according to figures from the Cream bank, to approach 190 billion USD in outstandings! Auto financing remains one of the driving forces behind the loan, particularly used vehicles.

Particularly scrutinized in 2019 in this year “post yellow vests”, the purchasing power of the French was not satisfied with government measures to have more free cubits: consumer credits also participated in the realization of many projects . After growing 5.1% in the first quarter and 5.7% in the second, they gained 6.7% in the third according to figures published by the Cream bank. In 2017 and 2018, annual growth was 5.9% (+ 5.1% in 2016). In total, outstanding consumer credit exceeds 187 billion USD. It is 50 billion more than five years ago.

Affordable rates at European level

Affordable rates at European level

Why such a dynamic? Lower rates. As in stone, consumer credit rates fell in 2019, although their average level remains above the conditions for financing a property. Average interest rates on revolving, overdraft and miscellaneous loans stood at 5.4% (-0.2 points compared to the start of the year), those on new depreciable loans fell to 3.5% (- 0.3 point compared to the previous quarter). Levels “close to the lowest historic levels observed since 2003 and lower than the average for the USD zone” according to the Cream bank.

Auto Credit Goes Up A Gear

Auto Credit Goes Up A Gear

The emergence of auto credit on the second-hand market is the other reason for this strong growth. A summary figure this observation quite obvious: + 147.5% in Q3! If we refer to data from the French Association of Financial Companies, the financing of used cars (car loan + rental with purchase option) had increased by 12.2% after three quarters. Figures that contrast with the financing of new cars (-0.5% over the same period)!

Meanwhile, over-indebtedness is declining

Meanwhile, over-indebtedness is declining

If this “overheating” of consumer credit encourages professionals in the sector to remain vigilant about the level of over-indebtedness of borrowers, the latter recalled in the columns of Lite lender their rigor in risk management. The Lagarde law of 2010 had strengthened information on consumer credit and ten years later, the number of over-indebtedness files continues to decrease: almost 20,000 less in 2019 at the end of November compared to the same period l ‘last year !