If you have declared bankruptcy, you must complete a six-year waiting period during which no debts may be accumulated. Getting a loan from a bank during this time is very difficult. In addition to bankruptcy, it is also problematic that the waiting period only leaves income for insolvent consumers that is below the attachable income.
So there is not much money left for credit rates. Nevertheless, there are ways to get the loan on parental leave.
The Credit Bureau-free loan
Because the bankruptcy is recorded in the Credit Bureau, a debtor will only receive a loan from a German bank within this period under special conditions. An alternative for credit on parental leave is therefore the Credit Bureau-free credit from abroad. Credit Bureau is not common in other European countries, which is why no queries or entries are made within Credit Bureau for such a loan.
As a rule, it is loans from Switzerland that are granted as a loan without Credit Bureau even during parental leave. An advantage of this loan without Credit Bureau is not only that the loan can also be granted during the waiting period. In addition, the lending business is only known to the lending bank and the borrower.
If the lending is particularly discreet, you can arrange a cash payment via the postman instead of transferring the loan amount to the checking account. So no one else is informed about the lending business. One should consider that the loan amount is based on the disposable income, that the loan amount for the loan during the maternity leave is therefore only granted in a certain amount.
The loan with guarantor
You can also apply for the loan on parental leave at your own house bank or at another branch ban. Especially when the income has developed positively and the waiting period is coming to an end, a loan can certainly be granted, especially at the house bank where you are known. If the bank requests protection beyond the disposable income, a guarantor can be included in the contract as the third contractual partner.
The guarantor is liable for the loan amount, because as soon as the borrower fails to meet his payment obligations, the guarantor is used to settle the loan with the income available to him. It is important that the guarantor has a fixed income from dependent employment to secure the loan and that he also has no negative entries at Credit Bureau. So the bank has collateral and nothing stands in the way of the loan on maternity leave.