For many people, fear begins anew every month. Then it’s time to pay the rent. The worse the economic conditions, the greater the challenge. For this reason, rent debts are already growing above some people’s heads. However, since eviction threatens if you fail to meet your obligations, those affected often look for a loan for rent.
Loans for rental debt: Requirements for a loan from the state
There are basically three ways to get a loan for rent debt. Either you ask a private person for the money – often they are friends or family – or you go to the bank to ask for a loan or you ask the state whether they grant such a loan. However, the loan from the state is subject to strict conditions. For one thing, the possibility of a loan from a bank must be canceled. This is the case if, for example, a person is unemployed and is already receiving state support. In addition, it must explain in a sensible manner how the rental debt could have arisen (because in this case the state is actually already paying the rent, which is why no debt should have arisen) and must demonstrate that there is an urgent need for the debt to be repaid immediately.
In practice, this scenario occurs when, for example, an unemployed person wants to move but there is still an old debt to the old landlord, for example with regard to the additional costs. In order to be able to move, however, the unemployed need proof of rent freedom and a justification to the state why they are moving. Two scenarios in which the state also grants a loan for rent debts are: The rent in the new apartment is considerably cheaper, or that you can find a job again due to the move and leave the state pension. Otherwise you have to stick to a bank.
Loan for rent from the bank
Anyone who turns to a bank first has to answer several questions: How much are the rent debts? Is it sufficient to grant a overdraft facility or does a personal loan need to be taken out? How quickly should the debt be paid? Do you even need an instant loan? But the unquestionably most important question is: What guarantees can be used to convince the bank to grant the loan for rent debt at all? If you have rent debts, your creditworthiness is permanently impaired, which is why the Credit Bureau entry should discourage you from granting a loan, unless there is other security. These would be a high salary, real estate, a car or valuable household appliances. In addition, the lower the rental debt, the easier it is to get the loan.
Other options for a loan for rent debt
However, anyone who does not have any such collateral can only present a guarantor who is responsible for repaying the loan if necessary or who can contact a bank that does not value the Credit Bureau entry. These are usually internet banks from abroad. Comparison portals and experience reports from previous customers of these loan offers help to find exactly the loan that fits their own requirements and also comes from a reputable provider. But, of course, internet banks are also asking for suggestions and collateral on how to repay a loan for rent. That is why a regular income is particularly important here.