Anyone who is looking for a loan despite attachment is certain to have one of the strongest negative features in their Credit Bureau, which means that a loan application is rejected. Whose wages are seized must create a separate account, the so-called P-account. This means that a person affected can dispose of their wages in the amount of the exemption limit.
All that remains is the sum that is taken into account as the cost of living. Normally, with a garnishment of wages there is only the amount of money that is below the garnishment exemption limit and this is intended for living expenses. The possibility of getting a loan despite attachment is only possible with a little trick that is actually not allowed. Anyone who takes on the risk must decide for themselves.
The loan despite attachment
It is about the Credit Bureau-free loans granted by foreign banks. They are offered by online loan agencies. Since these banks are not a contractual partner of the German Credit Bureau, they cannot see whether there is a negative feature. This form of credit is secured solely from income. The creditworthiness documents to be presented also show a wage / salary statement in which the garnishment is noted.
Usually these banks also refuse a loan because the award is only approved if the wages are not pledged. What is missing is a certificate of earnings that does not have this note. The employer can ask his employee for an additional wage certificate. Since the usual monthly statement is not issued for salaried employees, an annual earnings certificate can be presented, in which the attachment is often not entered.
However, it must be said that this procedure can turn out to be a fraud, namely when there is a credit default and the Cream banks want to seize the wages. The approval rule for Cream banks is that wages are not pledged. If a credit broker gets involved in this deal, he can also be legally sued. It is a very delicate matter that everyone has to decide for themselves. But it is the only credit option that arises with a loan despite attachment.
The loan despite attachment via private loan
A loan from the pawnshop can be viewed as a loan despite attachment. If the customer has high-quality items such as electronics or jewelry that he can lend, the pawnbroker will estimate these values and pay the amount in cash. The pawnbroker is not interested in garnishment or income. Only the objects to be used must be valuable.
Another solution could be the loan despite attachment via the private loan platform. The operators of these pages carry out a Credit Bureau query and see the seized wage garnishment, which results in a rejection.
There are providers on the Internet that grant especially Credit Bureau-free loans. You offer this loan with interest based on creditworthiness. Since the creditworthiness looks very bad due to the attachment, loans with high interest rates are granted, if at all. The cost of borrowing will be immense, with the question of whether it is necessary to pay such borrowing costs just so that the loan can be granted despite the attachment.
If the Credit Bureau has saved a negative payment behavior, the income can be however high and the employer is known, for many banks this is no longer sufficient as security. The garnishment has been carried out and that could happen again, so the bank sees a rather solvent customer.
The last option is a guarantor who signs the loan agreement. If you find a trustworthy surety who vouches for the loan despite the attachment, he should be made aware of the risks of the guarantee. Only if he has a high and regular income, a clean Credit Bureau and a permanent job is he predestined to act as a guarantor. However, he should be aware that the guarantee is entered in his Credit Bureau and the creditworthiness suffers.
If he needs a loan himself in the period in which the guarantee exists, he may not be creditworthy and needs a guarantor himself. In summary, it should be mentioned that if someone is in such a precarious situation, he should pay attention to his payment behavior in the future so that there is no longer a garnishment of wages. Then he does not have to burden others with financial difficulties.