The so-called affidavit, which is usually called in the vernacular usually disclosure oath, is a part of the German insolvency law and includes roughly outlined a list of all attachable assets as well as the insurance, no funds or actually worth mentioning property to have retained. Many people are looking for a loan in this difficult time, either to avert the seizure or to start a new economic start. But is there any chance of getting a loan despite SE?
A loan despite SE: In the overindebtedness trap
The problem with a loan despite SE is the lack of creditworthiness. As already outlined, the SE occurs mostly in connection with the private bankruptcy. This means that one is already indebted and was unable to meet his payment obligations. Presumably one is already in a state of over-indebtedness (the monthly payment obligations exceed the total income). All indicators that show their own creditworthiness therefore strongly discourage lending. What can you do?
A loan despite EV: The remaining options
In fact, a loan is in fact excluded, despite SE in one of the well-known German banks. One relief for those affected, however, may be that German financial institutions are not the only institutions that lend. The best chance to still get a loan under the described conditions is the credit of a private person. First gear often leads to friends or family at such moments because they may be willing to give loans because of their emotional connection to the debtor. For whom this variant is out of the question, the find in the network a few private credit agencies, which, however, usually check the credit bureau entry.
Another option would be to take the step abroad. Many of the banks do not check creditworthiness in Germany. Nevertheless, they naturally require information about the borrower’s economic framework data. It is forbidden by law to lie. This can also be used in Germany with imprisonment. If you tell the truth, you have to wait and see if he gets a loan. If there is one, then probably only a small sum with very high interest rates.