Obtaining a temporary agency loan is not a cheap star. Employment contracts that are unfavorably set up, which often occurs in temporary work, make it difficult for banks to grant loans. The approval criterion for loans that banks require is a regular and corresponding income as well as an open-ended employment contract.
The employment contract of a temporary worker does not meet these criteria; on the contrary, it offers little protection against dismissal. However, since banks determine the assessment of creditworthiness by various factors, a temporary employment contract has a rather bad effect. The credit security the banks demand provides, in addition to a positive credit rating information, also the employment contract as the basis for a positive credit approval. In addition, income, current obligations and the garnishment exemption limit are among the bases for decision-making.
There is a credit with temporary work
Temporary work can be seen as pure wage dumping. A temporary worker sometimes does not manage to get past the garnishment-free limit despite working overtime. But lending is almost without exception based on income above the garnishment limit. In order to improve his precarious financial situation somewhat, the temporary worker can “prepare” for a loan application with a temporary job before a loan.
The account statements should be collected over a period of three months and care should be taken to ensure that the account is not in the red. It is also considered positive if the loan seeker puts the amounts of the planned installment amount on a separate account for a few months. This proves at the bank that the borrower can pay his installments.
Additional guarantees increase the chances
If the borrower has additional collateral, the credit rating increases and a positive promise can be hoped for with a temporary agency loan. Real estate collateral such as a vehicle letter, real estate or other tangible assets can be sufficient credit protection that the bank recognizes.
Getting a guarantor also increases the chances of getting a temporary agency loan. However, the temporary worker should bear in mind that the credit rating balance is charged each time a loan is canceled. Therefore, the temporary worker should carefully choose a loan provider and thus create optimal conditions.