It is not easy for a Hartz 4 receiver. It’s not just the stigmatization of society that weighs heavily on you, but also re-entering the job market is often more difficult than you think. However, the restrictions on financial freedom associated with Hartz 4 affect most recipients the most. If there are unforeseen expenses, it will often be difficult or even impossible to find the money yourself.
Loans without Credit Bureau as a Hartz 4 recipient – difficult, but not impossible
If you have to take out a loan as a Hartz 4 recipient to pay for repairs or purchases, it will be difficult. If you have a negative Credit Bureau entry, it seems almost impossible. No reputable bank will grant you a loan with these basic requirements. However, there are a few ways to get the money you need.
Loans without Credit Bureau as Hartz 4 recipients thanks to guarantors
Since the award criteria of a bank preclude a Hartz 4 recipient as the sole borrower from the outset, you have to look for a guarantor. This guarantor is written into the loan agreement and is liable if the borrower defaults for the costs incurred and the remaining amounts of the loan. Therefore, if you want to apply for loans without Credit Bureau as a Hartz 4 recipient, you should look in your own friends and family for a solvent person who would be willing to join the loan as a guarantor.
The only important thing here is the creditworthiness and reputation of the guarantor. If the employee is a permanent employee and your own funds are sufficient, the loan application is usually approved without any problems. It should not be mentioned here that regular payment of the loan installments should be a matter of course. Finally, the friend or family member is liable for the debts incurred with his own assets.
Personal loan – Loans without Credit Bureau as Hartz 4 recipients possible without bank
However, if you have someone in your closer family or friends who not only earns very well, but also has a certain amount of savings, you can also turn to them with confidence. Because even lending money privately can serve as a way out of the current crisis. However, an informal loan agreement should still be concluded so that both sides have the necessary certainty that they will not be cheated. Trust is good, control is better. Friendship ends quickly, especially with money.
More options than expected
So you can see that it is far from impossible to get loans without Credit Bureau as a Hartz 4 recipient. You just have to show a little more effort and be ready to talk to your friends or family about your own financial problems.