It is very difficult to get a foreign loan for the unemployed. Even if many foreign banks do without a private credit, they place all the more value on a regular and secure income. Unemployed people only have a chance at lending when they are looking for alternatives to a bank loan and, for example, contact a private lender or a private credit intermediary.
Compare loan offers
The number of loan offers from foreign banks has increased significantly in recent years. However, this does not mean that the loan offers are open to unemployed or Hartz IV recipients. As a rule, foreign banks will not only insist that the borrower is of legal age and German citizenship, but also that he can demonstrate a permanent place of residence and a permanent job.
Although unemployment benefits are paid on time and on a regular basis, foreigners do not count as income. For this reason, it can not serve as security for a foreign loan for the unemployed.
Anyone who hires a private German loan broker to look for a foreign loan has much greater chances that the loan application can be approved. Again, it would be very important to remain realistic and by no means any empty promises, as they are made again and again by dubious credit intermediaries to believe.
Authorization, payment and repayment
Those who, despite all difficulties, have found a foreign credit for the unemployed and have received the pledge should be aware that they have to pay the monthly loan installments regularly and punctually. The entire loan amount is either paid out post-paid or transferred to the current account. Unless an explicit use is specified, the foreign credit for the unemployed is at leisure. How long the term and how high the monthly loan installments are is agreed individually between the contracting parties and recorded in the loan agreement.
In principle, it can be advantageous to make the right to early loan repayment part of the credit agreement. If the borrower has found work again, it would be easily possible in this case to repay the loan in whole or in part.