Quick loan despite poor credit rating - alternatives to the bank

IMMEDIATE CASH DESPITE POOR CREDIT RATING

If your credit rating is anything but good and you need money urgently, a traditional bank loan is often not an option for you. However, you can also use alternatives:

• Pawn loan - pawning items

• Car loan -Pawning a car

• Salary advance - borrowing money from your employer

• Personal loan - borrow money from private individuals

pawn loan

With a pawn loan - also known as a loan against tangible assets - the only thing that counts as collateral is your collateral. Your financial status remains completely anonymous and is also of no interest, as you are not personally liable in the event of a default, but only with your item.

This is how it works:

1. Offer: Enter the name of your item on cashy.de and immediately see how much money you can borrow for it. If you have not found your item via the category selection or the search window, you can also send an individual request via a form.

2. Handover: During the checkout process, you can choose whether you want to drop off your collateral at one of the CASHY stores or send it by post.

3. Payout: You will receive cash immediately, a payout via PayPal or money to your bank account. A pay out in cash is possible up to € 9,999. If you need a larger sum, the difference will be transferred to your desired account.

4. Extension: Repayment, partial repayment and extension can be completed conveniently from home via your account. As soon as your pawn loan has been repaid in full, you can get your item back - even before the end of the term.

CAR LOAN

If you want to use your car as collateral for a quick loan, it works just as quickly:

PRIVATE PERSONS

1. Simply enter your vehicle details in the calculator and immediately see how much money you can pay out for your car.

2. As soon as you have sent your request, an employee will contact you shortly afterwards to arrange an inspection appointment. The inspection of your car will take place in Berlin, Cologne, Essen or Munich.

3. You will be paid out your money immediately in cash or as a transfer via PayPal or to your bank account if the check is successful. You can have your car loan paid out in cash up to €9,999. For higher amounts, the difference will simply be transferred to your desired account.

4. You can call up all the details about your loan in your account at any time. You can also easily process a repayment, partial repayment or extension online.

COMPANY CUSTOMERS

1. If you want to pawn an individual vehicle, enter your data into the calculator just like private individuals and the highest possible payout amount will be displayed immediately. Enter the details of your vehicle or fleet and receive an individual offer just a short time later. If you want to pawn several vehicles, make an individual request and you will receive an offer shortly afterwards.

2. The inspection takes place by appointment in Berlin, Munich, Essen or Cologne. If you want to pawn several vehicles from your fleet, find out whether your vehicles can be checked on site.

3. Payment is made immediately in cash, to your bank account or via PayPal. For amounts over € 9,999 in cash, the difference will be transferred to your desired account.

4. You can make a repayment, partial repayment or extension conveniently via your account.

SALARY ADVANCE

A salary advance means that you have your salary paid out to you before the actual payday. This is useful, for example, if you receive a bonus or vacation pay in the near future. You could also ask your employer for an early pay out if you will be working paid overtime.

Before you ask for an advance payment, you should think carefully about the possible consequences. If you are sure that you want to ask your employer for an advance payment, it is best to speak to the HR department in larger companies. In smaller companies, you can contact your boss directly.

It is important that you already have a repayment plan. If there are no special payments, you could forgo part of your salary for a few months. As a rule, your employer will not charge interest - but this depends on the amount of the payment and the company itself.

The prerequisite is usually that you have been with the company for a long time and are considered reliable. Your employer's financial situation is also a decisive factor. It is best to be specific about what you need your advance payment for. This could be urgent repairs or medical expenses, for example.

CREDIT FROM PRIVATE

If you are self-employed, you usually have to meet more stringent requirements to get a loan from your bank. A regular income, a good credit rating and a functioning household budget are required.

But what if you only earn enough at a certain time of the year and run into payment difficulties shortly before the start of the next season?

A personal loan can be a good alternative to a bank loan. There are less stringent conditions and you can often get a personal loan even if you have a medium credit rating.