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Credit despite garnishment – difficult, but possible

A seizure is the final step in a long series of efforts to help creditors to their rights. Credit despite seizure is correspondingly difficult to find.

Anyone who does not pay their debts and does not make a repayment agreement with the creditor must, sooner or later, expect that he will apply for a seizure. This can be done in different ways.

Short info – loans despite garnishment

Short info - loans despite garnishment

  • In the case of loan requests despite seizure, banks – figuratively speaking – let the security bars down
  • Without help from others, only the pawn shop as lender remains
  • Check your chance of getting a loan for two
  • Apply – initially without obligation – directly in the comparison

Account surrender – often the first step

Account surrender - often the first step

Very popular are stock pledges. The amount above the seizure exemption amount is claimed by the creditor.

It is also possible to garnish or seize property. The type of garnishment the creditor decides depends on how the debtor is set up.

If he has a regular income, the garnishment is the most effective way of garnishment. For those affected, such a seizure is a very unpleasant matter.

Therefore, an attempt is made to avert these with the help of a loan despite seizure. However, this only succeeds in certain cases.

Why is it not always possible to obtain a loan despite being seized?

Why is it not always possible to obtain a loan despite being seized?

A seizure always points to massive debts that the person concerned could not or did not want to deal with in the past. Since a garnishment always brings a negative entry in the credit record, the banks know very well that the prospect is currently not well positioned financially.

They also know that the risk of default on a loan is very high despite seizure and therefore do not see any reason to lend it. In spite of all this, to get the loan started despite the seizure, some tricks have to be applied.

They should increase the security around the loan, so that donors feel called to the desired credit to forgive.

What tricks are that?

Without small help, the loan will most likely not work despite seizure. Therefore, it is important that everything is planned very carefully in advance.

Credit despite garnishment – difficult, but possible

Borrowing should be easiest if accompanied by a guarantor. A second applicant who is solvent and can secure the loan.

Maybe the spouse can take on this important function. But even friends or relatives can act as a guarantor.

In addition, it could be attempted to take the loan despite seizure without the query of credit record. Private lenders or foreign loans offer this possibility.

However, the interest rates are quite high and there are many dubious offers that promise such a loan. The search for suitable offers can turn out to be quite laborious in this area.

In general, it should be noted that a loan should not be taken lightly despite seizure. An attachment is a serious matter that should not be taken lightly.

In addition, it may be possible for the money from the loan to flow directly into the garnishment. It should therefore be considered whether it is paid into the account or whether a cash payment is sought.

The cash payment has the advantage that the money can be targeted for use.

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