The garnishment of wages and salaries is a popular option for lenders. Banks often sign wage subsidies on consumer loans. So there are some ways to get a loan despite salary garnishment or credit bureau application. But for social reasons, it can NOT serve, but it is still always in the account. Life insurance policies can also be used to hedge loans (residual debt insurance).
How to get a loan despite salary garnishment
The loan is granted to those affected, despite seizure of their salary, only if other securities can be given to a house bank. If the vendors have an enforceable claim, the garnishment is a means to pay the garnishment portion of the employer of the third party debtor to the debtor. This note makes it difficult, despite salary garnishment to get a loan, because a negative attitude of the Federal Financial Supervisory Authority for the credit institutions is a reason for cancellation.
Depending on the level of debt, only part of the proceeds will remain in the case of a seizure and, for this reason, the credit institutions will not grant credit without a strong guarantor who agrees with the loan agreement. When considering the creditworthiness, the borrower can be left out of the equation because the loan vouches despite the garnishment of salaries with the power of a guarantor.
For many credit institutions, a guarantor is not enough and for the protection of the spouse or spouse, if available, should be included in the contract. Not only in the wage garnishment is a pledge recorded in contract manufacturing in contract manufacturing, this is also on the payroll accountable. So if a house bank does not audit the Sufa, the income statement will still be audited.
The reported net income is then not the income actually available to a borrower. The pawnability goes from the annual surplus to the vendor, leaving a house bank in the event of seizure empty-handed. Salary lending is always a proven way for lenders to collect claims against a debtor. If the court finds that the lenders make use of the seizure of salary and wages, then the debtors are in a bad position.
The attachable parts of the debtor’s income are then transferred to the client.
If loan brokers make a loan despite attachment, they are usually only interested in selling surplus cash to the borrower and receiving commissions from him. For many consumers, a loan without a savings bank is a rescue measure, but this view is not correct.
Also for this loan, a borrower must have a credit standing that proves the returns. All in all, despite salary garnishment, a loan is only slightly more probable, especially if the salary is relatively small and not garnable. Those who have generally paid no installments and bills should not be burdened with another loan and pay their debts first.
It makes little or no sense to offset claims with new claims. Debt levels are getting higher and higher, especially when the debtor is concerned with interest and compound interest. Consumers who are trapped in a debt trap should turn to debt counseling for debt settlement rather than a credit broker.
The foreign banks may in exceptional cases refrain from pledging, because the borrower’s salary is so high that, despite pledging, there is still enough to pay the loan installments despite a salary garnishment.