If, in the case of young people, one’s own entry entry is already biased negatively, then at best a payday loan without checking the entry comes into question. In Germany, however, most payday loans are granted with a review of entry, which is why borrowing from banks in this case is no longer possible.
Under certain circumstances, foreign banks are also considered, which overlook a review of entry and would therefore issue the trainee with a payday loan. The prerequisite for this, however, is that the apprentice earns above-average profits, which is usually not the case in Germany in particular. A lump sum should at least have an income of 850 euros net, so that the borrowing could even be successful.
The higher the regular income, the higher, of course, the likelihood that the payday loan will actually be approved by the bank. However, most trainees do not rank as close to net income, not least because subsidies and child benefits are usually not counted towards income. In addition, the term of the payday loan must not exceed the duration of the training, since the bank can not assume that the trainee is taken over by his company or finds a new job directly.
Consequently, the credit institution would have to start from the worst case, namely that the trainee is unemployed after his education and therefore can not pay the due installments anymore, not in full or not on time.
payday loans for non-entry trainees are most likely to be private on the payday loan of money from parents, grandparents or other relatives. The payday loan from the circle of friends or from your own partner is possible, but only if the relationship of trust is large enough and these acquaintances also have the necessary financial resources themselves.
In addition, payday loans for trainees without entry may still be accepted, depending on the individual case, if a guarantee can be made. This guarantee is liable as a result of the payday loan with the entire income and assets, but receives no part of the payday loan amount. Since a guarantee is associated with great risk, often only closely related relatives come into question.
Friendships are usually unwilling to act as guarantor for payday loans for trainees without entry. As a result, apprentices experience a situation where they are almost always reliant on private individuals to borrow. If no one is willing to act as a guarantor or lend money from a private environment, there is often no way to obtain a payday loan.