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Credit despite direct debit return

In many phases our life can be described as quite stressful and confusing. Many tasks have to be done daily. In addition, there are the thoughts that you have about yourself, family and friends. It can happen that a little carelessness leads to a return of a direct debit in our lives. Mostly because an EC card was used to pay somewhere, even though the account did not have sufficient funds. Or because a direct debit such as the payment of the electricity due to insufficient coverage could not be carried out.

Whatever the reason for a direct debit, it is important that it is handled correctly and the reasons for it are quickly eliminated. Because life goes on. And therefore must it be ensured that direct debit returns do not become a serious problem?

Are direct debit returns a hindrance when borrowing?

Are direct debit returns a hindrance when borrowing?

It is also part of life that a loan is used here and there. Because it is not uncommon for desires to be greater and more urgent than the savings allow. But what to do if there was a direct debit return just before? Can a loan be taken out despite direct debit return?

In principle, the direct debit does not matter when borrowing. Especially not if this has been corrected again immediately. After all, it only points to a short-term financial bottleneck and does not show that something generally goes wrong with regard to finances. Therefore, no one should worry too much when it comes to taking out a loan despite direct debit. Because most banks see a direct debit return very relaxed.

What does the borrower have to do?

What does the borrower have to do?

Rather, as a borrower for a loan despite the return of a direct debit, you have to ensure that the environment, i.e. the conditions for borrowing, fits. This includes a positive Credit Bureau, which every borrower in Germany must have. If this is not the case, there will only be a loan despite the return of the direct debit if a second applicant decides to support the loan.

On top of that, it must be ensured that there is a sufficiently high income. After all deductions, there must be enough money left over that the monthly installments can be conveniently paid. Income must come from a permanent job. The self-employed, self-employed or pensioners should seek support from the outset for borrowing. Otherwise you will find it difficult to find good loan offers.

The banks and savings banks are also required to have a permanent place of residence and an account in Germany. The minimum age for taking out a loan despite returning a direct debit is 18 years.

Which form of credit works best?

Which form of credit works best?

Should the direct debit return prove negative due to the presentation of account statements, the acquisition of a consumer loan should be sought. This is offered by many retailers for the financing of consumer goods. The loan does not require the presentation of bank statements. Rather, it is sufficient if the Credit Bureau is positive and verbally states that earnings of at least 450 USD are generated per month. Everything else related to borrowing is secondary, as consumer goods financed are seen as collateral for the loan.