Anyone who has ever experienced a garnishment, knows that this can not only be very annoying and annoying, but also always the last option for a creditor to receive his remaining claim. If you have a wage-earning and want to take out a loan, then you have very bad cards, because the garnishment is registered in the credit bureau and when you make a loan application, the bank checks the creditworthiness of the borrower by credit bureau credit bureau has been registered, then it is almost hopeless that one gets granted a loan with garnishment. But even if the wage garnishment has not yet been registered in the credit bureau, the chance of a loan with garnishment is nevertheless very low.
What can you do to get a loan with a wage garnishment?
If you want to seek a loan despite garnishment, so you have to be already disclosed his financial circumstances. As soon as the garnishment comes up, any reputable bank will refuse to lend. But some providers also offer that they get a loan with garnishment. This is possible, for example, if, as a borrower at the bank, you make false statements that can not be verified by the bank. But this one is punishable.
What options are there if you do not receive a loan with a garnishment?
But there is also another possibility and that if you go to a pawn shop. Because here you can deposit a pledge, which is then loaned by the pawnbroker with a certain amount. So you can lend money despite being hired, even without credit bureau entry or in very hopeless cases. But the interest rates are very high in this case, so that this variant is more interesting for short-term loans. By borrowing a loan with garnishment, one often tries to settle the liabilities of a debtor. If it has been determined by the court that the creditor can use a garnishment, the employer must pay the attachable part of the salary to the creditor. This circumstance is then communicated to the credit bureau and so one comes to a negative credit bureau entry.
Many consumers see in a loan without credit bureau the solution of their financial problems so the rescue in the emergency. But this assumption will prove to be wrong, because even with this variant must prove that you have sufficient credit so has a fixed and regulated income. If there is a wage attachment, this also appears on the payroll, then the bank can also see how it is about the borrower. As soon as the bank learns about this, the bank will not be prepared to lend.
If you come across an offer, then this is usually dubious. For who is unpaid because of the unpaid bill, it can save himself to take another loan, before he has not paid the other installments. It makes no sense to settle existing debts with other new debts. If you have a negative credit bureau entry, it is better to go to a debt counselor and not take another loan.