Nearly 400,000 marriages are closed each year in Germany. For the spouses, this is the beginning of a completely new phase of life. Now they are not just tied together by wearing the same last name. They are also economically connected and responsible for each other – and not only in good times, but also in bad times.
For example, if a payday loan is to be taken, then married people are always asked if they do not want to take the payday loan together with their spouse. For the banks this represents an additional great security that hardly a bank wants to miss. And while no one can be forced to take the payday loan with the spouse, the bank has the right to refuse the payday loan to a married person if it is not taken together. After all, the bank always has the last word in lending and can freely decide who it wants to work with.
What good is a payday loan for married people?
First and foremost, a payday loan for married people always brings with it collateral. And for all concerned. For the bank, a joint borrowing payday loan means that in the event of a default, the borrower’s account or material things can easily be seized because both spouses are liable for the payday loan and therefore do not need to know who owns something and if so can be seized.
For the borrower, the joint acceptance with the spouse means that he, too, can always assume that he always receives a particularly favorable payday loan offer from the banks by taking the payday loan together, which does not make the payday loan unnecessarily expensive and therefore the enjoyment of Credit does not cloud.
What are the options for a payday loan for married people?
As credit for spouses, all credit variations are actually suitable. Whether car payday loan, installment payday loan, real estate payday loan or on demand credit – who is married and has a sufficiently good creditworthiness, it must be no fear that the bank does not grant credit. However, it should always be kept in mind that the payday loan amount is always based on the credit rating and therefore it may be that not every possible payday loan amount is possible. Even if both spouses take up the payday loan together.
If there are difficulties in this regard, it could be considered whether another solvent person can be called in to borrow. A term life insurance or a residual debt insurance could be useful. However, only if a large payday loan amount with a long term is needed, which would justify such a high level of protection. Because for both hedges quite high fees are due, which only make sense if there is an increased risk of default due to the long term and the large payday loan amount.
Is there also a payday loan for married couples without a spouse?
As a rule, the banks always ask for a payday loan for spouses after the spouse, so that he also signed the payday loan agreement with. For consumer credit, however, one could avoid this regulation. Since consumer payday loans are earmarked payday loans, the financed items are considered collateral. These are also called in case of defaults. Since the borrower has bought the items, they are also his and there would be no problems with a garnishment. Therefore, one often refrains from requiring a guarantor or second borrower for a consumer payday loan. Even if it is a payday loan for spouses.